Most people believe that Trump’s building in mid-town Manhattan is his most valuable asset. It is not. His most valuable asset is a 30% share in what used to be known as the Bank of America building in downtown San Francisco. But without question, Trump Tower was one of his valuable assets that made money. It is quickly becoming a liability, or at least worth nowhere near what it once was.

Turns out, being the worst, most corrupt, and likely most criminally motivated president in United States history has its downsides, one of which is that respectable businesses don’t want their address to include the word “Trump” anywhere in it. Additionally, people with the means to shop in mid-town, generally speaking, don’t want to be seen anywhere near Trump Tower. All of which have an additive effect. He is losing money in what once was his crowning achievement.

According to Rawstory, via Bloomberg News:

Bloomberg News reports that Wells Fargo, which is the master servicer of a $100 million loan on the property, put out documents on Friday showing that Trump Tower’s occupancy has dipped below 80 percent this year, down from the 86 percent occupancy recorded at the end of 2020.

The biggest blow to Trump Tower’s vacancy came earlier this year when Marc Fisher Footwear, the former designer and manufacturer of Ivanka Trump’s shoe line, vacated its massive showroom that occupied the entire 21st floor of the building.

Double damn. One of the biggest occupants (The entire 21st floor? How many different types of shoes can exist?), and the one that produced Ivanka’s shoe line. That’s too bad. Not really.

Business has always been personal with Trump, but this time it is too personal, in that Trump personally guaranteed a large chunk of the loans coming due in the next couple of years. Obviously, this means that he cannot bankrupt yet another corporation and walk away. This time it might take a bit out of his ass, personally. He would sure miss Mar-a-Lago.

“The loan, which matures next year, is just one piece of the more than $590 million of debt held by the Trump Organization that comes due within the next four years,” the publication writes. “More than half of that is personally guaranteed by Trump.”

Just $590 million in debt? That’s all? We were assured that Trump is a billionaire several times over. Mike Bloomberg is worth well over $10 billion. Mike Bloomberg could go to the grocery store and when the thing asks if he wants cashback, he could put $590 million and the register would open and the cashier would hand it to him. We get the sense that perhaps Trump isn’t a billionaire after all.

Someone is going to have to refinance these loans for him. We wonder who that might be? Is Trump looking east, again? He might have a little less to offer this time in return.

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