Donald Trump’s political operation is reeling after spending around $60 million on legal fees pertaining to the four criminal indictments and various ongoing civil lawsuits against him.
Disclosures indicate that Trump’s campaign and the various political action committees supporting it blew through tens of millions of dollars in 2023, leaving him cash-strapped heading into 2024.
Save America PAC, Trump’s primary PAC heading into his likely rematch with President Joe Biden, once had over $100 million in the bank. Now, it has just a little over $5 million left after spending over $25 million on legal bills in the second half of last year alone.
He might techincally be worth a billion dollars but most of that worth is probably locked up in real estate. He’s probably running real low on cash.
A Newsweek article says he has $2.6B networth with $426M in cash and liquid assets. However, that very article is about the trial where he inflated his assets, so the basis for that may be completely wrong.
That trial could put him under penalty of $370M. The Carroll lawsuit is $83.3M. Even if we take his liquid assets above as a given, he’d be wiped out, and his real estate is worth a fraction of what he claims.
Trump needs to be in jail, but he’d also be Al Capone running his empire from a cell if he had to. Kick him in the money. That hurts him personally.
God, I hope they fine him based on the amount of money he says he has.
He’s a billion dollars in debt.
Pinhead fucknuts think that means he’s a billionaire. He’s got a billion dollars less than nothing.
Relevant: he’s a convicted fraud.
Funny how you can live like a king if you’re $1 billion in debt, but if you just have no money, you’re just going to be homeless.
I have a problem if I owe the bank a thousand dollars. The bank has a problem if I owe them a million dollars.
It needs to be a lot more than ‘just’ a million to make a bank really sweat and act abnormal; at that level you’re just a criminal they pursue.
Looking forward to seeing exactly what that real estate is actually worth when he’s forced to divest and pay the judgements against him.
It’s the worst time to sell as well, with high interest rates and nobody wanting to be associated with anything Trump.
The New York properties will definitely sell if it comes to that, no problem. 3 desirable towers of luxury apartments in NYC would be worth a ton.
Even if they have to gut the whole damned thing, the superstructure alone is probably worth the money.
If he has to take a haircut on selling it will just be booked as a loss and used to pay less taxes on other profits.
Sure. But only a portion of that loss equal to the tax rate. I don’t know what that rate is, but it it’s 30% then he’s eating 70% of the loss.
People keep throwing these accounting rules around as if they make losses not matter at all. They do.
True… and the numbers add up… 5 million here, 83 million there, how much is the New York fraud trial? 300+ million? Not to mention the legal fees.
If engeron fines him 300-400 million he’s fucked.
How has Trump always survived his other fiascos? Ans, Putin. The only question is which oligarch will buy his building at 20X what it is worth, then sell it back to him, under market value.
Still, that night will see many beaten prostitutes, 500 Truth Social posts in all caps and ketchup everywhere.
How can he pay less than zero?
It can carry over for several years
Lol, that’s not how any of this works
probably half underwater, loaded down with debt; and the rest, likely falling apart in need of significant renovations.
who am i kidding? it’s likely all loaded down with debt.
Does Deutchbank debt count as actual debt? I always figured with all the money laundering, that if he had to sell any of his actual properties (which are mostly shitty golf courses at this point), that the Russian moon would be charging him by the kneecap.
How much is office space? That’s not worth a lot anymore. If he’s lucky he owns a lot to apartments
NYC real estate is always valuable.