Donald Trump could have all of his cash wiped out this week if the verdict comes down in his New York civil fraud trial.
Bloomberg reported:
In a deposition last year, Trump described his stockpile of cash as being “substantially in excess” of $400 million. The Bloomberg Billionaires Index placed his liquid assets at about $600 million, though Trump’s exact financial status remains famously opaque.
The prospect of being hit with damage awards totaling more than $450 million in less than a week points to the potential for a cash problem. The two lawsuits sought to punish Trump financially. If the judge in the New York fraud case accepts the attorney general’s $370 million request, both will have succeeded in hitting at the billionaire’s wealth.
Bloomberg also points out that most of Trump’s wealth is in real estate, and Trump’s biggest expense outside of the judgements is his legal bills for the 91 felony counts that he is facing. Trump is also legally barred from using campaign funds to pay for the settlements to Carroll and the state of New York.
All told the two judgements could wipe out 15% of Donald Trump’s wealth, and that doesn’t include the millions of dollars that are being regularly on his criminal defense in four trials, and the fact that his costs related to the trials are only increasing.
At this rate, Trump may need to win the presidential election for the free housing, because things aren’t looking good for the former president.
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Jason is the managing editor. He is also a White House Press Pool and a Congressional correspondent for PoliticusUSA. Jason has a Bachelor’s Degree in Political Science. His graduate work focused on public policy, with a specialization in social reform movements.
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