In the final quarter of 2023, Donald Trump’s presidential campaign gathered over $19 million, marking a decline of more than 20% from the previous quarter, as per Federal Election Commission filings.
Financial Woes in Trump’s 2024 Bid
The campaign for Trump’s 2024 presidential bid disclosed a $19 million collection from October to December, concluding the year with upwards of $33 million in ready funds, according to FEC records.
This amount is a step down from the $24.5 million reported in the third quarter, covering July through September.
Who’s Leading the Money Race?
The latest fundraising totals for Trump, the likely 2024 GOP presidential front-runner, also fall short of President Joe Biden’s campaign, which reported a $33 million intake for the fourth quarter and enters the election year with about $46 million on hand.
The GOP Fundraising Battle
In the recent quarter, Trump managed to outfundraise Nikki Haley, his primary competitor in the GOP race. Despite trailing Trump in both the Iowa Caucus and New Hampshire primary, Haley, who remains committed to the race, reported a $17 million raise in the fourth quarter.
A Fortune on Legal Fees
Recent filings reveal that former President Donald Trump’s various political action committees, including Save America PAC and Make America Great Again PAC, expended over $29 million in legal fees in the latter half of 2023.
A $50 Million Hit
Coupled with the approximately $21 million spent in the first six months, these groups utilized around $50 million of donor funds for legal expenses last year.
A Political Witch Hunt?
Trump, facing a total of 91 felony charges from four separate criminal cases in 2023, has pleaded not guilty and dismissed these accusations as a politically driven ‘witch hunt’.
Trump’s Defamation Case:
Recently, a jury ordered Trump to pay over $83 million to writer E. Jean Carroll for defamation, related to his denial of her sexual assault allegations.
Heavy Legal Expenses
Since Trump’s initial indictment on March 30, 2023, his leadership PAC, Save America, has shelled out around $53 million, as revealed by Federal Election Commission filings.
This spending spree, lasting until the end of 2023, includes a whopping $38.9 million on legal consulting and similar services.
Legal Costs Soar
To put this into perspective, the PAC had spent $25.2 million on legal consulting from its inception after the 2020 election up to March 29, 2023, with $8.4 million of that just in the first three months of 2023.
A Multi-Million Dollar Bill
The bulk of these legal expenses were payments to Christopher Kise, Trump’s attorney in both his civil fraud and criminal cases for retaining White House documents. Kise’s firm, Chris Kise & Associates, and Continental PLLC, where Kise and his team work, received $3.3 million and $3.6 million, respectively, from Save America during this period.
Who Gets Paid What?
Save America PAC has been busy footing the bill for a range of attorneys representing Trump in various criminal cases. The records reveal that Blanche Law, handling multiple cases for Trump, received $2.3 million. John Lauro, representing Trump in his federal election case, got $2.6 million, while Steven Sadow, the attorney for Trump’s Georgia election case, took home $1.5 million. Susan Necheles, working on Trump’s Manhattan ‘hush money’ case, earned $950,555.
Varied Case Costs
Alina Habba’s firm, Habba Madaio & Associates, representing Trump in several cases including his civil fraud trial and E. Jean Carroll’s defamation case, was paid $3.2 million. Dhillon Law Group, on the case for Trump’s 14th Amendment issues, received $579,408.
Beyond Attorney Fees
There were also other significant outlays, like over $900,000 to NYU’s Eli Bartov as an expert witness in Trump’s civil fraud trial, and $340,000 to a vendor for handling Rudy Giuliani’s electronic records.
Looming Lawsuit Fines
Trump might soon incur a substantial fine, potentially running into hundreds of millions, in a fraud lawsuit brought by New York Attorney General Letitia James.
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