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.

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.

…

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.

Non-paywall link

  • nicetriangle@kbin.social
    69·
    10 months ago

    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.

    • Szymon@lemmy.caEnglish
      43·
      10 months ago

      I look forward to his $ being locked in escrow during his appeals

  • snekerpimp@lemmy.world
    55·
    10 months ago

    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!”

    • Chainweasel@lemmy.worldEnglish
      39·
      10 months ago

      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.

      • MagicShel@programming.dev
        29·
        10 months ago

        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.

        • OscarRobin@lemmy.world
          1·
          10 months ago

          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.

      • Upsidedownturtle@lemmy.world
        16·
        10 months ago

        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.

    • Dagwood222@lemm.ee
      3·
      10 months ago

      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!

  • kandoh@reddthat.com
    391·
    10 months ago

    Just like Alex Jones, he will simply not pay. There is no way of forcing them to pay apparently.

  • IamSparticles@lemmy.zipEnglish
    281·
    10 months ago

    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.

  • OpticalMoose@discuss.tchncs.deEnglish
    18·
    10 months ago

    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.

  • TropicalDingdong@lemmy.world
    71·
    10 months ago

    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