Former President Donald Trump is facing a series of costly legal battles that are putting a strain on his finances. With multiple civil cases ruling against him, Trump is looking at millions of dollars in fines and penalties.
In January, a New York judge ordered Trump to pay writer E Jean Carroll $83.3 million for defaming her. This was followed by a civil case ruling in February where Trump, his sons, and former executives of the Trump Organization were found liable for financial fraud and ordered to pay $355 million in fines.
Despite Forbes estimating Trump’s net worth at $2.6 billion in September 2023, the mounting legal judgments are posing a significant risk to his bottom line. Trump struggled to find financial backers to help him post the bond for the civil fraud trial penalty, which eventually climbed to $464 million with interest. However, a New York appeals court later reduced the bond to $175 million, which Trump was able to post with the help of an insurance company.
With only $426 million in cash and liquid assets, Trump may struggle to meet his legal obligations, according to Forbes. The civil fraud trial penalty alone could eat into his net worth by as much as 15 percent, as estimated by Bloomberg.
Despite the financial challenges, Trump’s exact fortune remains difficult to determine as he has refused to disclose his financial records while in office. This stands in contrast to his predecessors and successor in the Oval Office who shared their financial information with the public.
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