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The facade of the Trump family’s once-hyped real estate empire is starting to peel away. The gold sneakers with the Trump logo and the American flag, which the former American president offered on Saturday at a shoe fair in Philadelphia for the proud price of 399 dollars each, no longer help.
The day before the sales show at what Donald Trump called the “world’s largest sneaker show,” a New York court had fined the Republican candidate a total of $463.9 million. Sons Donald Jr. (46) and Eric Trump (40) and two other directors of the family business were also convicted. The accusation: falsifying balance sheets to obtain cheaper bank loans.
The huge amount must be paid within thirty days, warns judge Arthur Engoron (74). Either in cash or through a guarantee. Money owed even if Trump appeals the verdict, New Yorker Kadi continued. In addition, Trump is banned from doing business in New York state or doing business with New York banks for three years. This makes it difficult to obtain a loan equal to the amount of the fine.
Trump must give up half a billion immediately
But that’s not all: Donald Trump also has to come up with another $88 million during this deadline. American journalist Jean Carroll (80) sued Trump in 2023 for five million dollars in compensation for a rape thirty years ago and won. When Trump called the author a liar, the court fined the former US president another 83 million for defamation.
That’s half a billion dollars that Trump now has to give up. Added to the legal demands are Trump’s astronomical legal fees. By 2023 they already amounted to 50 million dollars. Trump’s trial marathon had just begun.
But does the real estate mogul have that much cash in liquid form? Donald Trump’s total wealth is estimated at $2.5 billion and his cash reserves at approximately $400 million. Some financial insiders are already talking about an impending bankruptcy, others expect that Trump will have to sell parts of his home in Palm Beach, Florida, the luxury property ‘Mar-a-Lago’ with 118 rooms.
‘Super entrepreneur’ exposed as a fraud
All this is not just economically devastating for Donald Trump. The fraud verdicts could expose the self-proclaimed “super entrepreneur” as a fraudster, and his claimed $10 billion fortune as pure bragging rights. “If it turns out that the ex-president is less wealthy than he claims, it could threaten the mogul myth on which Trump builds his political brand,” said CNN writer Stephen Collinson, 49.
Donald Trump wants to become president of the US again in November. The Republicans will nominate their candidate on July 15, 2024. But there are still two major trials before the party conference and two Supreme Court decisions that could throw Trump out of the political race. On March 25, 2024, the affair surrounding the hush money paid to porn actress Stormy Daniels (44) will be heard, and on May 20 the following the illegal possession of secret documents seized from Trump’s private home in Florida.
Donald Trump’s lone remaining Republican challenger smells the morning air. Nikky Haley (52) remembers that Trump covered his legal costs from 2023 with campaign donations. She warns that the man from MAGA (Make America Great Again) could now also tap into the coffers of the Republican Party (RNC). “I don’t want the RNC to become Trump’s piggy bank,” she said in the American media, warning of the planned appointment of the party leadership. There, Trump wants to make his old confidante Michael Whatley (54) chairman and his daughter-in-law Lara Trump (41) his deputy.
Source: Blick
I am Amelia James, a passionate journalist with a deep-rooted interest in current affairs. I have more than five years of experience in the media industry, working both as an author and editor for 24 Instant News. My main focus lies in international news, particularly regional conflicts and political issues around the world.
