Trump sells $10 million jet to major megadonor to cover legal fees and judgements

Former President Donald Trump has made headlines once again, this time for selling off one of his private jets to a Republican megadonor. The move comes as Mr. Trump faces mounting legal judgements and fees totaling over half a billion dollars.

The jet in question is a 1997 Cessna, with a reported value of around $10 million. The registration of the plane was transferred from the Trump Organization’s DT Air Corp to a Texas entity called MM Fleet Holdings LLC, which is linked to Iranian-American construction tycoon Mehrdad Moayedi.

Mr. Moayedi, a major Republican donor, has contributed hundreds of thousands of dollars to various Republican candidates and committees, including Trump Victory and Senator Ted Cruz. The sale of the jet to Mr. Moayedi comes at a time when Mr. Trump’s finances are under strain due to a series of civil and criminal cases.

In January, a New York judge ordered Mr. Trump to pay $83.3 million to writer E Jean Carroll for defamation. Additionally, he was found liable for financial fraud in New York and ordered to pay over $350 million in penalties. Despite these legal challenges, Mr. Trump has managed to post bonds for his appeals, with the help of underwriters.

While Forbes estimated Mr. Trump’s net worth at $2.6 billion in 2023, the legal judgements against him pose a significant risk to his financial standing. With only $426 million in cash and liquid assets, Mr. Trump may face further financial difficulties if he is unable to settle his legal obligations.