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.
And Trump’s donations have sucked all the air out of the room for all GOP candidates, state parties, etc. They’re throwing the 2024 war chest down the endless hole of Trump’s legal problems. Isn’t he supposed to be a billionaire?
Looking forward to seeing exactly what that real estate is actually worth when he’s forced to divest and pay the judgements against him.
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.
It’s the worst time to sell as well, with high interest rates and nobody wanting to be associated with anything Trump.
How much is office space? That’s not worth a lot anymore. If he’s lucky he owns a lot to apartments
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.
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.
It’s a lot like how Elron Musk theoretically is worth billions, but still feels the need to run funny schemes on doge coin. He can’t sell substantial amounts and get cash without reducing the Tesla share price and thus his overall net worth even more than what he took out.
Not wholy true, he might not be able to sell his stocks but he can take out loans against them for money.
It’s the Buy, Borrow, Die Strategy, and how they avoid taxes as well. He’s not poor he doesn’t need to grift and he has all the liquid money he could ever need for a thousand life times…
He’s not strapped for cash. He sold U.S. secrets to the Saudis for $2 Billion. Jared Kushner is holding his money for him. He won’t actually be broke until we go after that pot of stolen gold.
It’s $2 billion that still belongs to the Saudis. Jared is getting a management fee of probably $20 million per year. Definitely still a bribe/payment for services rendered just trying to say the amount and mechanism are not what you think.
It’s $2b invested in a fund. I.e. trivially converted into fees and then funneled to whatever.
Maybe that’s because his PAC is blowing millions getting its ass kicked in Ukraine?
What wonderful news to start my day
Holy fuck he’s paying his own legal bills from campaign money? I guess it’s not illegal.
He had the RNC paying them for a while. Supposedly what he’s doing now is okay because his website says that’s where the money is going.
If he’s not hiding anything and the donators are fine with it… Doesn’t seem illegal
The problem is how transparent they are being. If you get an email saying “TRUMP NEEDS YOUR HELP TAKING ON THE WOKE MOB” and there’s a big donate button that brings you to donate to “SAVE AMERICA PAC” and it just so happens that they’re spending 90% of their money on his legal defense, how well informed were you?
Way to many things about campaigning and financing are not illegal, and that needs to get fixed.
