Donald Trump has been visible at his resort in Mar-a-Lago in recent weeks dining and meeting people instead of touring as his money-conscious campaign surveys events.
Trump, 77, is mired in a web of legal problems that could lead to a series of trials and appeals. Besides of New York fraud casewas awarded $83.3 million in damages in a defamation lawsuit and faces four criminal cases, including two alleging he conspired to overturn the result of the 2020 presidential election. The trial over his hush money a porn star before the 2016 election will begin on April 15 in Manhattan.
The billionaire is known for boasting about his wealth. Last week, he said on his platform Truth Social that had almost 500 million dollars in cashciting his “hard work, talent and luck”.
“I have a lot of cash and a great company,” he said Monday outside a court hearing in the hush money case, while touting the value of his brand. “I would also like to be able to use some of my money to be elected”.
However, it is not clear whether Trump really has almost 500 million dollars in cash; Exaggerations about his wealth are what got him in trouble with the state of New York to begin with. James demonstrated at trial that he and the Trump Organization They overvalued his properties and the findings against him dealt a new blow not only to his bank account, but to one of his greatest self-proclaimed strengths: his financial prowess.
The trial “burst the bubble of this mythology that he had built around himself, his success and the incredible value of his assets,” said Jennifer Rodgers, a former federal prosecutor who has followed Trump's legal troubles. “Apparently he's angrier about that than about the criminal case.”.
At the same time, the financial reach of Trump's businesses extends around the world. Arguably his policy may help boost his trade deals, as developers and foreign governments are aware that he is running for the White House and, at the same time, look for huge investments that can generate large profits.
Trump's campaign declined to comment on his wealth, beyond noting his social media company's trading. Karoline Leavitt, a spokeswoman, said Biden is “the only presidential candidate who is courting favors with foreign countries.”
Truth Social puts Trump in the 500 richest people in the world
Trump is enjoying a record rise in his wealth thanks to Trump Media & Technology, which began trading Tuesday under the symbol DJT. With the stock market gain, he first joined the ranks of the 500 richest people in the world on the Bloomberg Billionaires Index.
Trump owns shares worth 4.6 billion dollars at the close of business on Tuesday. But they are subject to a roughly six-month lock-up agreement that prevents it from selling, transferring or using the shares as collateral for loans. That makes the timing of his appeal of James' case key: Selling shares could provide a huge financial boost if the verdict is upheld and he is past the blackout period.
Beyond James' verdict, he also faces paying $83.3 million in a defamation case brought by writer E. Jean Carroll, who accused him of sexually assaulting her in the 1990s. The former president worked with Federal Insurance Co. of Chubb Ltd. to post a $91.6 million bond earlier this month while it appeals.
Until now, the Fortune Trump has relied heavily on his real estate holdings, worth an estimated $2.7 billion. They include Mar-a-Lago, his luxurious residence in Florida; the penthouse of Trump Tower in Manhattan; and golf resorts like Trump National Doral, northwest of Miami. Asking the appeals court to waive or significantly reduce his bail for the $454 million verdict that was due Monday, Trump warned that he would be forced to sell properties in a “liquidation sale” to raise money if the court does not. helped
Trump now has until April 4 to make the payment of the bonus of 175 million dollars, which he said he will do. If the verdict and sentence survive his challenge, he will still have to pay the full $454 million judgment plus accrued interest at about $112,000 a day, which could add another $10 million in just three months.
Michael Zeldin, a former federal prosecutor, said damages remain a “very substantial” threat to Trump's finances even with his newfound wealth from Trump Media, given that the stock is locked up for months and could fall in value. easily if the former president is convicted of a crime or loses the November elections.
“For people like Elon Musk, Jeff Bezos and Mark Zuckerberg, $450 million isn't a lot of money — they can write a check and wash their hands of it,” Zeldin said. “Trump doesn't seem to be in that wealth category, so it's a substantial strike against him.”
