Don Hankey, the billionaire who took the risk of 'lending a hand' to Trump with a loan

Donald Trump requires just over $450 million, after a judge ruled that his company and its main executives defrauded banks and insurance companies by presenting financial statements that exaggerated his assets.

The judge ordered Trump to pay $355 million in penalties, plus interest that has raised the total above $454 million and growing daily, a sum that does not include what other defendants must pay.

The appeal does not stop payment; However, Trump could give a break if he provided money, assets, a guarantee or financing from a millionaire businessman to cover his debt.

Don Hankey, the billionaire known as the subprime car king of Los Angeles, 'raised his hand' to help the Republican candidate by arranging the appeal bail of $175 million from Trump in the New York State civil fraud lawsuit.

Hankey, president of Knight Specialty Insurance, said in an interview after the firm posted Trump's bail on Monday that he “heard they were looking for someone, and this is what Knight Insurance does.” He added that, although he voted for Trump before, it was a trade deal: “We have the liquidity and I am happy to provide it to you”.

Who is Don Hankey?

Don Hankey was born and raised in Los Angeles and has a bachelor's degree and graduate work from the University of Southern California. With an extensive knowledge of finance, at age 27, Hankey became a vice president at a major investment banking firm. which would later become part of the UBS Paine Weber.

In 1972, Hankey acquired Midway Ford and the dealership business flourished. By 1980, the organization acquired additional dealerships and established a firm position in the automotive financial services industry.

Currently, Hankey's corporate group consists of seven operating companies, including Hollywood Toyota, Midway Auto Group and Knight Specialty Insurance. Mr. Hankey continues to lead each of them to increase assets and profits.

At 80 years old, Don Hankey has a net worth of 7.5 billion dollarsaccording to the Bloomberg Billionaires Index.

Recently, Hankey Capital provided a $77 million loan, in 2021, to MedMen Enterprises, a cannabis company. $31.6 million was repaid in March 2023, and a month later, Green Sentry, which purchased MedMen's Florida operations, also made debt-related payments.

Hankey and his family have made more than $250,000 in political donations since 2013, including to Trump Victory, according to data from the Federal Election Commission.

-With information from AP and Bloomberg.