Donald Trump is facing a pair of major legal verdicts in New York that risk wiping out most — if not all — of the cash the billionaire says he has on hand, a potential blow to the presidential candidate whose persona is tied up with financial success and wealth.
Trump on Friday was ordered by a jury to pay $83.3 million to writer E. Jean Carroll for defaming her in 2019 when he denied her sexual-assault allegation. On top of that, a verdict is expected this week in New York’s civil fraud trial, which seeks the return of $370 million in “illegal profits” Trump allegedly made by lying to banks about his wealth to get better terms on loans.
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The timing couldn’t be worse as the likely Republican nominee for the November presidential election already faces mounting legal bills after being charged with 91 criminal offenses in four criminal prosecutions. Trump’s cash and his overall wealth are separate from his campaign finances, which by all accounts are still strong, but that money can’t be used to finance these verdicts.
Important point here is that $450 million what he claimed to have on hand. So we know it has to be significantly lower than that.
I look forward to the forced sales of his properties.
I look forward to his $ being locked in escrow during his appeals
His followers have plenty of money to give. “Give the orange god king all your money! Give till it hurts, and the god king will reward you!”
They’re already giving him money hand over fist anyway.
He’s been yelling about his Schrodinger’s bank account for years, somehow both full because he’s such a “successful businessman” while at the same time being completely empty because of the “evil liberals” and their “politically motivated” trials.
His supporters eat that shit up, idolizing him because he’s rich and donating to him because he’s broke.I think it’s wonderful. They are giving everything to a guy who is basically setting their money on fire, meanwhile the GOP is basically broke in several states because everyone gives directly to him instead of the party.
As long as he loses, I think Republicans are going to be hurting for a while when it comes to individual donors.
They also lost the Russia>>NRA>>GOP pipeline.
Being poor doesn’t stop people from voting though. In fact being broke because you’ve given everything to conmen who tell you it’s the other people’s fault may actually increase votership of those people.
https://www.thedailybeast.com/rnc-members-acknowledge-their-fundraising-is-in-the-toilet
I don’t know about “plenty”, the well finally seems to be running dry
I don’t think I’d say the amount of donations is drying up, rather Trump is redirecting funding that could have gone to the RNC to his campaign and legal fees.
That’s why religious leaders are starting to turn on him. He’s cutting in on their racket.
Are people just donating money to him though? Or to his campaign?
They’ll give wherever he tells them to. You think they know or understand the distinction?
Florida tried to pass a bill to give him $5 million of taxpayer money.
You think he cares? Haven’t they already got him facing campaign finance issues?
Or pootin will bail him out.
I commneted in another thread. GOP loves to get elected and then pass laws that they know will be controversial. Say they ban books in school libraries. They know the Left will raise money to fight them, but since the GOP is in charge of the state they know that the local taxpayers will foot the bill while the Left has to ask for donations. Those donations mean that the Left politicians will have less to spend at election time. Trump is doing the reverse for the Right. He’s sucking up all the loose cash that used to go to the Party. Good for him!
Just like Alex Jones, he will simply not pay. There is no way of forcing them to pay apparently.
I read that in order to appeal the 83m, he needs to put the judgement into a Trust.
If that’s the case, I really hope he appeals LoL. He can’t play games when the Court has the 💰.
Jones filed bankruptcy. I doubt trump will.
Trump has already filed for bankruptcy six times.
If he were to do so again now, the real question is whether either of these recent judgements are dischargeable under state law (while bankruptcy in the US is primarily controlled by a set of federal laws, the actual terms and conditions for what can be discharged, excluded, or must be liquidated in each case fall to the states to define).
EDITED TO ADD: I forgot about this when I was first writing my comment, but given the recent NY special monitor’s report flagging dishonesties and possible tax evasion in the business fraud trial, I think at this point Trump would also have significant problems with bankruptcy at this time. Especially with fraudulent transfer and other patterns of financial deception, not to mention him also needing to place the Carroll judgement amount in escrow with the court (or provide an equal bond) if he wants to appeal, and he desperately wants to appeal. I am not an attorney so I don’t know the particulars, esp for NY state, but all of these are potential problems with bankruptcy relief for our wannabe dictator.
Do we know if his quality of life has really changed?
Russian and Saudi money is still plenty. Jared got $2B gift, remember?
Jared does. You think he’s sharing? That family isn’t exactly good to each other
Trump’s cash and his overall wealth are separate from his campaign finances, which by all accounts are still strong, but that money can’t be used to finance these verdicts.
That’s adorable. He’ll probably claim it’s a legitimate campaign expense because these cases are all “clearly political attacks”. So there will be another round of cases keeping this all locked up in courts for another 2-3 years.
“Campaign money can’t be used to finance these verdicts”
Yeah, right.
Directly.
The real-estate mogul, of course, suggests he’s actually worth much more — valuing his own brand at as much as $10 billion.
… “I think it’s the hottest brand in the world.”Yeah, I mean the Ford logo was good for $23B back in 2006, but I guess 10 > 23.5. Alternative math and all.
Hurr hurr hurr hurr
This guy has a pretty good chance of bankrupting the entire Republican apparatus…
I’m gonna hurr even more hurr hurr hurr hurr hurrrr
