Donald Trump’s political operation is reeling after spending around $60 million on legal fees pertaining to the four criminal indictments and various ongoing civil lawsuits against him.

Disclosures indicate that Trump’s campaign and the various political action committees supporting it blew through tens of millions of dollars in 2023, leaving him cash-strapped heading into 2024.

Save America PAC, Trump’s primary PAC heading into his likely rematch with President Joe Biden, once had over $100 million in the bank. Now, it has just a little over $5 million left after spending over $25 million on legal bills in the second half of last year alone.

  • Nobody@lemmy.world
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    9 months ago

    And Trump’s donations have sucked all the air out of the room for all GOP candidates, state parties, etc. They’re throwing the 2024 war chest down the endless hole of Trump’s legal problems. Isn’t he supposed to be a billionaire?

      • themeatbridge@lemmy.world
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        9 months ago

        Looking forward to seeing exactly what that real estate is actually worth when he’s forced to divest and pay the judgements against him.

        • ares35@kbin.social
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          9 months ago

          probably half underwater, loaded down with debt; and the rest, likely falling apart in need of significant renovations.

          who am i kidding? it’s likely all loaded down with debt.

          • nilloc@discuss.tchncs.de
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            9 months ago

            Does Deutchbank debt count as actual debt? I always figured with all the money laundering, that if he had to sell any of his actual properties (which are mostly shitty golf courses at this point), that the Russian moon would be charging him by the kneecap.

        • jonne@infosec.pub
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          9 months ago

          It’s the worst time to sell as well, with high interest rates and nobody wanting to be associated with anything Trump.

      • Optional@lemmy.world
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        9 months ago

        He’s a billion dollars in debt.

        Pinhead fucknuts think that means he’s a billionaire. He’s got a billion dollars less than nothing.

        Relevant: he’s a convicted fraud.

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          9 months ago

          Funny how you can live like a king if you’re $1 billion in debt, but if you just have no money, you’re just going to be homeless.

          • tmyakal@lemm.ee
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            9 months ago

            I have a problem if I owe the bank a thousand dollars. The bank has a problem if I owe them a million dollars.

            • crazyCat@sh.itjust.works
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              9 months ago

              It needs to be a lot more than ‘just’ a million to make a bank really sweat and act abnormal; at that level you’re just a criminal they pursue.

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        9 months ago

        A Newsweek article says he has $2.6B networth with $426M in cash and liquid assets. However, that very article is about the trial where he inflated his assets, so the basis for that may be completely wrong.

        That trial could put him under penalty of $370M. The Carroll lawsuit is $83.3M. Even if we take his liquid assets above as a given, he’d be wiped out, and his real estate is worth a fraction of what he claims.

        Trump needs to be in jail, but he’d also be Al Capone running his empire from a cell if he had to. Kick him in the money. That hurts him personally.

    • Kraven_the_Hunter@lemmy.dbzer0.com
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      9 months ago

      Yeah, as literally every developer in NY said for years. Even before his presidential run:

      “How do you make $1M in real estate?”

      A: Give Trump $100M.

    • Aidinthel@reddthat.com
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      9 months ago

      Trump’s supposed wealth was always mostly marketing. Being a billionaire was literally his brand image.

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      9 months ago

      It’s a lot like how Elron Musk theoretically is worth billions, but still feels the need to run funny schemes on doge coin. He can’t sell substantial amounts and get cash without reducing the Tesla share price and thus his overall net worth even more than what he took out.

      • Corigan@lemm.ee
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        9 months ago

        Not wholy true, he might not be able to sell his stocks but he can take out loans against them for money.

        It’s the Buy, Borrow, Die Strategy, and how they avoid taxes as well. He’s not poor he doesn’t need to grift and he has all the liquid money he could ever need for a thousand life times…

        • squiblet@kbin.social
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          9 months ago

          Elton still does feel the need to do shit like pump Dogecoin though. Maybe it’s just for the thrill of scamming people.