Litigation loser
Half a billion in fines: Does Donald Trump even have enough money to pay all that?
Donald Trump on his doorstep at Mar-a-Lago in Florida
© Rebecca Blackwell / Picture Alliance
How rich is Donald Trump? Or better yet, does he have enough money to pay the roughly half a billion dollars he was sentenced to pay? That’s not certain, but at least he has very rich friends and some real estate.
Donald Trump’s name, gold-plated of course, was emblazoned not only on many houses, golf clubs and casinos, but also on all sorts of products: on vodka and mineral water bottles, on trading cards, caps, ice cream, steaks and books. Surprisingly little of it was a bestseller – unlike the latest merchandise scam: sneakers. For 400 dollars or 370 euros there are ankle-high sneakers with a US flag and the letter T for Trump, of course in gold and limited: 1000 pairs will be made, they are all already sold out.
The proceeds from the sale will not go entirely to the ex-US President; as is usually the case, he has only provided his name. The Republican could use every dollar, as he was recently sentenced to fines totaling half a billion US dollars in two trials. Although not all of the judgments are final, he will definitely have to pay very soon and it is unclear whether Trump is even liquid.
Why does Donald Trump have to pay so much money?
In mid-February, the ex-president was sentenced to a $350 million fine in a civil lawsuit. Reason: His company, the Trump Organization, had illegally increased the values of real estate in order to get better loan conditions. Trump will appeal the verdict, but the punishment will still be due now. A few weeks earlier, Trump had lost a libel case against author Jean E. Carroll and was ordered to pay $83 million. There is also around $100 million in interest.
How much is Trump’s net worth?
There are no exact amounts because Trump invested his money primarily in real estate and securities. Estimates from Forbes and Bloomberg experts range from $2.6 billion to $3.1 billion. But only part of this is likely to be available to the former head of state in cash. Trump’s lawyers are said to have told New York prosecutors that he had around $400 million in liquid assets.
How could Donald Trump find missing money?
In principle, Donald Trump should be rich enough to pay the fines due. If necessary, he would have to sell parts of his numerous properties. His famous Trump Tower in the middle of New York City is worth almost a billion dollars, and his three-story apartment inside is expected to fetch around 130 million. He also owns his property in Mar-a-Lago (estimated value: around one billion), an uninhabited castle outside of New York, as well as two other buildings in the city that bear his name but only partially belong to him and/or are heavily burdened by loans. There are also various golf clubs.
Can Trump use his generous donations?
Donald Trump was able to raise almost $70 million in donations for his election campaign last year. According to US election laws, he is not allowed to spend it on personal matters such as fines. However, it is unclear whether the so-called Super PACs can step in. These organizations collect funds on a large scale to support the candidates. For example through TV advertising. Two of his super PACs spent nearly $50 million on legal aid last year, it was recently revealed.
Ex-president under pressure
Trump still has to defend himself against these lawsuits
Are there rich patrons who could help Trump out?
Yes, absolutely. There are always speculations making the rounds that multi-billionaire Elon Musk is looking to get close to Trump – also to support him. What is certain is that Trump has very rich friends who have helped finance him and his Make America Great Again movement in the past. These include billionaire casino owners Sheldon Adelson and Steve Wynn, investor Charles Schwab and Californian real estate mogul Geoff Palmer. It should be easy for you to make a few million.
Sources: “The Hill“, Citizen.orgDPA, AFP, Reuters,