On Friday, former Trump fixer Rudy Giuliani disclosed his finances as part of his Chapter 11 bankruptcy. Among his listed assets is a potential claim against Trump for unpaid legal fees.
Pro-bono work
Giuliani led the efforts made by Trump allies to challenge and overturn the results of the 2020 election. Trump did not pay him for his ultimately unsuccessful efforts.
Potential claim
By listing these unpaid fees as an asset, Giuliani is potentially opening Trump up to a lawsuit from Giuliani’s creditors. “My God,” political strategist Simon Rosenberg wrote. “There’s a whole new potential legal problem for Trump and Republicans — he stiffed Rudy.”
Chain of claims
“Trump will have to pay Rudy’s creditors,” former federal prosecutor Ron Filipkowski wrote, “since his unpaid legal fees to Rudy are one of Rudy’s assets in his bankruptcy.” The situation “just keeps getting better,” Filipkowski wrote.
Other assets
The value of Giuliani’s unpaid fees was not specified in the filing. Other assets listed without specific values included a shirt signed by Joe DiMaggio, a legendary player for the Yankees, and a picture signed by Reggie Jackson.
Dubious claim
Giuliani also listed a potential “Joseph Biden defamation claim” as one of his assets. This claim also did not have a specific value listed.
Ordered or voluntary
In 2021, Giuliani said in a court deposition that Trump “ordered” him to attempt to prove the existence of fraud in the 2020 election. Giuliani told a lawyer for Dominion Voting Systems executive Eric Coomer that he was only reimbursed for expenses.
Small difference
According to the New York Times, Giuliani originally asked Trump to pay him $20,000 daily for the work. However, Bob Woodward and Robert Costa reported in their book, Peril, that Trump was unhappy with having to rely on Giuliani, whom he called “crazy.”
Last option
“None of the sane lawyers can represent me,” Trump reportedly complained, “because they’ve been pressured.” Though Trump moaned that Giuliani “says crazy shit,” he was apparently the only option left for the former president.
The actual money
In total, Giuliani listed $10.6 million in assets in Friday’s court filing. The bulk of that wealth consisted of his real estate holdings, which include a condo in Manhattan and a home in Palm Beach, Florida.
Shifting sands
Giuliani listed the Manhattan apartment for sale in August for $6.5 million. However, in October he lowered the asking price by $400,000.
Declining value
In his filing on Friday, Giuliani valued the Manhattan apartment at $5.6 million. He listed the value of his Palm Beach home as $3.5 million.
Majorly unbalanced
Giuliani’s filing listed almost $153 million in liabilities. The bulk of that is the $148 million he was ordered to pay two Georgia election workers, whom he was found to have defamed.
Running low
Giuliani has repeatedly complained about his inability to keep up with rising legal fees and debts. In his filing, he reported having just $351 in his savings account.
Raking in cash
According to court papers, Giuliani took in more than $3 million in retirement benefits from 2021 to the end of 2023. His retirement account was listed as being worth $1.4 million.
Mounting challenges
In the filing, Giuliani wrote that he was facing ten pending lawsuits. If his financial disclosures are found to be false or incomplete, he could face criminal penalties.
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