Here's your Forbes Daily Briefing for Sunday, March 9th.

Today on Forbes, Mayor Eric Adams' legal troubles are taking a bite out of his net worth.

On October 16th, New York City Mayor Eric Adams sounded confident, but then again, he almost always does.

Fresh off a press conference celebrating the destruction of 1,246 pounds of illegal vapes,

the head of the nation's largest city was approached by a reporter for Fox 5, New York.

The reporter said, quote, your legal defense fund, you seem to be spending more than you're

receiving.

Are you concerned at all?

Adams replied curtly, quote, nope, before being shuffled by his security into a black SUV. In retrospect,

perhaps he shouldn't have answered so quickly or definitively. Adams, under investigation since

2003 and indicted in 2024 by the Southern District of New York

for wire fraud, bribery, and campaign finance violations, has racked up over $2.5 million

in legal bills fighting the allegations. But the trust he set up to help him cover the costs,

which can accept donations of up to $5,000, has only taken

in about $1.6 million, according to its latest public filings. That leaves Adams $900,000 in the

whole. And while Donald Trump's Department of Justice moved to drop the charges, sparking

allegations of a dubious quid pro quo and notable

resignations at City Hall, a judge has yet to approve the dismissal, meaning Adams isn't off

the hook yet and will likely be facing more bills. For someone with a bigger or more liquid fortune,

$900,000 might not be difficult to cover. But Adams' at least $3.5 million

in personal assets, according to Forbes' estimates, are made up almost entirely of three New York

area real estate holdings, two in Brooklyn and one in Fort Lee, New Jersey, plus two pensions

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