Trump may have to part with his real estate treasure.
If President Trump is unable to secure a nearly $500 million civil judgment and support the billionaire baron image he has promoted, he may be forced to sell many of his riches at rock-bottom prices. unknown.
“He doesn't have any money right now,” Forbes senior editor Dan Alexander said on CNN on Friday. “Specifically, when you add in the fines associated with that interest and E. Jean Carroll's fines (two judgments totaling $88 million), it now amounts to more than $500 million.”
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Judge Arthur Engoron accused Trump and his companies of hundreds of millions of dollars in widespread fraud over several years in which they overstated their assets on financial statements to procure lucrative loans and deals. ordered compensation.
It also sought much smaller amounts from Trump's adult sons, Eric and Don Jr., and former Trump Organization chief financial officer Allen Weisselberg. There is.
The payment order is President Trump's second defamation suit against Carroll, a columnist who was called a liar for having sex with him inside Bergdorf Goodman's dressing room in the mid-1990s. This was done a few days after the payment was ordered.
Alexander said the 45th president claims to have “approximately $400 million in cash,” but acknowledged that even if that were true, “it's not enough.”
“And remember, you can't empty your safe and say, 'Okay, now I have zero money! I'm still going to run a major real estate company!'” I need a cushion.”
That means he might find a way to pool his wealth, find a bank that isn't registered in New York, or maybe want to lend money to the Republican front-runner to win the nomination. This means that they may be heading towards “a lot of rich people.” now.
But Mr. Alexander said that whoever gave him $100 million here or $200 million there “had a benefit, and in about a year's time it was for someone who might be president of the United States here.” “The money is likely to be traded,'' he said.
If those options fail, Trump will have to dump his assets.
“But Donald Trump, of course, is always reluctant to sell things for far less than their actual value.”
“And he might be forced to sell out here and get really desperate.”
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