Stories circulating on the Internet and to and from news organizations that Donald Trump owes Blackstone Group LP and Bayrock Group LLC $560 million cannot be proven at this time, or it could be an exaggeration, but to what extent is unknown.
Bayrock has backed Trump projects around the world. In particular, Bayrock backed Trump to the tune of $370 million in 2008 for his SoHo luxury Condo Project in New York. Subsequently, SoHo became the subject of numerous lawsuits, which shed some light on financing, but it is unclear how much, if any, Trump may still owe to Bayrock because he has not released his tax returns.
Trump’s organization is a Limited Liability Company, not a corporation, so he has no shareholders to answer to and is not required to make most financial records public.
It’s known that Trump is also aligned with Blackstone’s co-founder Stephen Schwarzman, and Schwarzman has had dealings with the Russian Government in the past. Schwarzman co-founded the Group in 1985, and they have offices around the globe, including Hong Kong, China, India and Dubai. The Group is thought to have assets of about $360 billion.
In 2011, Vladimir Putin appealed to Blackstone to invest in Russia, but in 2014 they announced they were giving up on Russian investment after Russia’s invasion of the Ukraine, which brought about new sanctions.
Trump remains connected to Blackstone. Trump appointed Schwarzman to serve on the President’s Strategic and Policy Forum, which will be called upon from time to time to share knowledge on various subjects.
As with Bayrock, connections to Blackstone are obvious, what is not obvious, however, is if Trump is indebted to either group, or if he in connected to the Russian Government through his connections with Bayrock/Blackstone.
When you begin to connect the dots it seems an indebtedness and a Russian Connection is being made clear, but the final pieces of the puzzle are still missing. So, it cannot be said with certainty Trump is indebted to either group. If Trump would release his tax returns, or be forced to do so, the final pieces may be found and he matter could be put to rest.