The $1.1 billion rabbit hole: Here's a staggering list of Trump debts — and who he owes money to

The 2020 election may be President Donald Trump's last attempt to dodge the consequences he could face for the staggering amount of debt that will come due over the next four years.

Ever since The New York Times' bombshell report about Trump's taxes, there has been heightened speculation about the president's debt and who he owes. Now, the Financial Times is shedding light on the illusion of Trump's windfall. The publication reports that Trump has more than $1.1 billion in debt and much of the debt is owed to creditors and banks.

In most cases, the president has used real estate —mostly linked to a small number of buildings and golf courses that form the core of the Trump business empire, according to the publication— as collateral to secure the loans. It has been reported that approximately $900 million of the $1.1 billion debt will come due at some point during Trump's second term if he wins the election.

According to the publication's graph, Trump's debts are broken down into five categories:

1. Vornado Realty Trust: $447 million owed as part of a partnership with the real estate investment trust company. Trump is said to have used towers in San Francisco, CA, and New York as collateral. While, on paper, the debt is technically owed by the partnership, and not Trump specifically, defaulting on the debt could impact the value of his equity in both towers.
2. The Bond Market:$257 million owed for loans where he borrowed against several of his biggest properties.
3. Deutsche Bank:$340 million owed to the lender that financed the president's hotel locations in Chicago and Washington, D.C., as well as his golf resort in Miami, FL. Based on Trump's tax returns revealed by The New York Times, the Chicago and Miami locations have suffered staggering losses over the last several years.
4. Small banks and an Asset Manager: At least $25 million in debt is owed to four small banks and one of Trump's asset managers. While most of those debts do not mature over the next four years, they do add to the president's staggering list of debts.
5. Chicago Unit Acquisition Trust: This $50 million debt raises questions because Trump appears to be both the lender and the debtor as the trust appears to be owed by DJT Holdings LLC—Donald J. Trump, himself.

While Forbes still categorizes Trump as a billionaire with a net worth of approximately $3.5 billion, the uncertainty of the United States economy amid the pandemic could lead to long-term problems if the value of Trump's properties declines. There is also speculation that Trump may attempt to use the presidency as a shield to guard against potential lawsuits he could face in the event he defaults on any of the loans.