New York jury ordered former president Trump to pay $83.3 million in damages to E. Jean Carroll. Still, everyone’s waiting for Judge Arthur Engoron’s decision in the fraud case, which could cost Trump $370 million. Can the former president and GOP’s presidential hopeful afford that?
Where’s the verdict?
Engoron’s ruling is being pushed back following allegations that former Trump Organization chief financial officer Allen Weisselberg is considering pleading guilty to perjury.
The Judge is taking his time
Judge Engoron shared a letter to Trump’s legal team and attorneys for the New York Attorney General Letitia James, “I, of course, want to know whether Mr. Weisselberg is now changing his tune and whether he is admitting he lied under oath in my courtroom at this trial.”
Engoron on Weisselberg “lies”
The Judge noted that “Weisselberg’s lies could be used to completely toss out everything he said in defense of the company—and even allow the judge to make negative inferences about the Trump Organization’s fraudulent conduct.”
$370 million plus interest
The ruling could result in a payment of the requested $370 million plus interest. According to Forbes, a smaller portion, around $10 million, could be split between Trump’s sons, Eric and Donald Trump Jr., Weisselberg, and the Trump Organization’s former CFO and former controller, Jeffrey McConney.
“Devastating”
Attorney Chris Mattei, who handled a similar case, told NBC it would be “a devastating financial blow” and suggested Trump “may also apply for bankruptcy protection.” Rudy Giuliani filed for bankruptcy in December 2023 after he was ordered to pay $146 million in a defamation case brought on by two election workers. However, bankruptcy would be a disaster for the Trump brand, which he says is worth over $10 billion.
It is not about net worth
According to various sources, Trump’s net worth is between $2.6 and $4.5 billion. However, he reportedly has just over $420 million in cash. Recently, it was reported that Trump’s political action committee (PAC), Save America PAC, paid Ivanka Trump’s legal fees amounting to $2.3 million in 2023.
Relying on PACs
According to FEC records, Save America PAC and Make America Great Again PAC spent over $50 million of donors’ money on legal fees in 2023. Save America PAC paid $3.9 million in legal fees for Eric and Donald Trump Jr. and $11 million for Trump’s civil fraud case.
Trump’s fundraising skills
However, Trump’s fundraising skills are masterful. His campaign profited off the mugshot, as well as the suit he wore during one of his arrests. The former president raised $4.18 million in 24 hours following the release of the mugshot and $10 million in the following five days.
Haley called out Trump’s spending
Haley told CNN’s Jake Tapper on The Lead, “It is unconscionable to me that a candidate would spend $50 million in legal fees.” She added, “It explains why he’s not doing many rallies. He doesn’t have the money to do it. It explains why he doesn’t want to get on a debate stage because he doesn’t want to talk about why he’s doing it.”
Trump will appeal, but that costs
Trump campaign spokesman Steven Cheung confirmed that the former president will appeal the “unjust verdicts,” adding, “President Trump did nothing wrong, and the truth will prevail.” But Trump is fighting on several fronts, including two civil cases and four indictments across four states.
No guarantees
The appeals court denied Trump immunity in the 2020 criminal election case in D.C., one of the 45th president’s most significant legal losses thus far. It is also a reminder that if Trump loses appeals in civil cases, he will have to pay total sums.
Another appeal
Following the appeals court’s decision, Trump’s spokesperson stated, “President Trump respectfully disagrees with the D.C. Circuit’s decision and will appeal it in order to safeguard the Presidency and the Constitution.”
Waiting for the Supreme Court
Despite the three Trump appointees and the conservative 6:3 majority, Ty Cobb, a lawyer in the Trump administration, told the Hill, “It is very clear that the president doesn’t have immunity from criminal prosecution.” Trump is also awaiting SCOTUS to decide whether he will be on the ballot in Colorado.
More about Trump’s finances on Forbes.
Read Next: What Really Causes Donald Trump’s Skin to be So Orange
Former President Donald Trump’s distinctive orange skin has captivated attention, sparking curiosity about its evolution from average pale over the years:
What Really Causes Donald Trump’s Skin to be So Orange
21 of the Biggest Lies in American History
Dive into the shadows of American history as we explore 21 of its biggest lies that have left an indelible mark on the nation’s narrative:
21 of the Biggest Lies in American History
32 Things We Once Highly Respected but Are a Complete Joke Now
Discover the amusing downfall of once-respected entities in our changing world:
32 Things We Once Highly Respected but Are a Complete Joke Now
23 of Donald Trump’s Most Hilarious Moments as President
Explore the lighter side of Donald Trump’s presidency with 23 hilariously memorable moments that left the nation in stitches:
23 of Donald Trump’s Most Hilarious Moments as President
27 Things MAGA Movement Ruined Forever for People
How the MAGA movement left its mark on individuals and disrupted certain aspects of our everyday life forever:
