Donald Trump may be one of the richest men in the world, but that doesn’t stop him from having money troubles.
After several court cases, Trump was ordered to pay a $454 million bond. However, Trump appears to need help with the funds to pay the bond.
Donald Trump Is Worth $2.6 Billion
$454 million might seem like a lot to most people, but to Trump, this is small change, as he is reportedly worth $2.6 billion, according to Forbes.
This net worth comprises real estate, golf clubs and resorts, social media and brand business, and cash and personal assets.
Donald Trump Was Found Liable for Fraud
Trump has previously claimed his innocence regarding inflating his net worth; however, a judge found him liable for fraud in the autumn of 2023, according to Newsweek.
He was accused of exaggerating his net worth and the value of his assets to get better business loans. His two sons, Donald Jr. and Eric, as well as other officials at the Trump Organization, were also accused of assisting Trump with this.
The Bond Payment Has Increased
When the judge first found him liable for fraud, Trump was ordered to pay $355 million.
However, as Trump has still been unable to pay that amount, the interest has increased the total, meaning he is currently expected to pay $454 million.
The $454 Million Is to Pay Trump’s Fines and Disgorgement
As he is liable for fraud, this means that Trump needs to pay any fines and the disgorgement charge.
Investopedia states that disgorgement is a legally mandated court payment that a person must pay if they have received business funds through illegal or unethical transactions. Trump will have to pay this as he has lied about his net worth to get better business deals.
Donald Trump Has Had His Net Worth Mocked
Despite his supposed net worth of $2.6 billion, people on social media have mocked his inability to raise the $454 million required by the court.
One X user referred to Trump’s failure to raise the cash as his “most humiliating day in recent history.” Others pointed out that he had previously bragged about his net worth, only to have supposedly been lying about it.
Donald Trump Has Mounting Legal Costs
One issue that could be causing Trump to struggle with coming up with the $454 million is due to the number of legal cases he has had against him recently.
Newsweek reported that Trump recently had to pay journalist and author E. Jean Carrol $91.6 million due to sexual abuse and defamation charges.
Donald Trump Approached Several Companies and Brokers
Trump has reportedly approached 30 companies through four different brokers, according to Newsweek, in attempts to come up with the total.
However, despite approaching various companies, Trump has so far been unsuccessful in his attempt to gain the money to pay off the bond.
Insurance Companies Don’t Pay Out Bonds Over $100 Million
Despite one insurance company paying the $91.6 million Trump had to give Carroll, it appears they might be less likely to pay the $454 million bond.
Insurance companies tend to give bonds over $100 million to companies rather than individuals, which explains why Trump hasn’t been able to pay the bond so far.
Donald Trump Could Have to Post Collateral Worth $557 Million
Trump might currently owe $454 million, but to obtain a bond, he could have to post collateral worth $557 million, according to The Daily Mail.
Trump currently owes $456.8 million, and with his co-defendants, they altogether owe $467.3 million, with the money for this supposedly impossible to find.
Donald Trump Could Be Forced to Give Up Some of His Assets
If Trump is unable to pay the money owed soon, he could be forced to give up some of his assets.
During an interview with ABC News, New York Attorney General Letitia James said that she is prepared to seek permission to seize his assets to pay the bond.
Donald Trump’s Lawyer Said He Had the Money to Pay the Bond
Despite recent evidence showing that Trump is struggling to raise the money to pay the bond, his lawyer has said otherwise.
The Daily Mail reported that Trump’s lawyer, Alina Habba, had said he had the cash to pay the bond, but that bond has not been paid so far.
