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.
What wonderful news to start my day
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…
Maybe that’s because his PAC is blowing millions getting its ass kicked in Ukraine?
He’s gonna need to sell a whole lot more digital trading cards to refill the coffers. I wonder how many times he can do that scam and still have it work.
Forever because his supporters are mindless drones that do as he demands. Much like those mega churches both are cults.
I wonder if churches are seeing a loss in their profitsdonations and might turn against their orange God.
He literally could not afford to not run for President, no matter what effects that has upon the nation (especially if he wins).
It’s funny, if he never decided to run for president, he could have kept scamming people and assaulting women until he died and no one would have really cared.
Now he’s in a position where he has to run again, because it’s the only thing that can save him from the consequences of the first time he ran.
This is why I think the “rich white people never face consequences” crowd have it wrong. They tend not to face consequences because they have lawyers to find loopholes in the first place, and then they make sure to keep it all out of the public eye, and then if they do get noticed, they listen to those lawyers and don’t do things to perjure themselves.
Trump failed at every one of those.