Who Can Trump Turn To To Get The $540 Million He Owes In Legal Fines?—This Is Who

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Business News, News, Entrepreneurship, Business

4.8 • 6 Ratings

🗓️ 2 March 2024

⏱️ 11 minutes

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Summary

The billionaire ex-president needs a cash infusion to pay his mounting legal fines, but major U.S. banks remain skittish and his billionaire friends are silent. These are the individuals and institutions that might have his back. Forbes money in politics reporter Kyle Mullins joins Brittany Lewis on "Forbes Talks" to discuss. Read the full story on Forbes: https://www.forbes.com/sites/johnhyatt/2024/02/28/heres-who-could-loan-trump-540-million/ Stay Connected Forbes newsletters: https://newsletters.editorial.forbes.com Forbes on Facebook: http://fb.com/forbes Forbes Video on Twitter: http://www.twitter.com/forbes Forbes Video on Instagram: http://instagram.com/forbes More From Forbes: http://forbes.com Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Hi everybody I'm I'm Britain Lewis with Forbes breaking news.
0:05.7	Joining me now is my Forbes colleague money in politics reporter Kyle Mullins.
0:10.1	Kyle thanks so much for joining me.
0:13.0	You hear Brittany. Kyle, thanks so much for joining me. You have been reporting about the money when it comes to Trump's legal setbacks
0:19.0	and currently the former president owes over half a billion dollars.
0:23.2	So before we dive into the conversation,
0:25.1	can you remind us all of how he got here?
0:29.0	Absolutely.
0:30.2	So as we've talked about before,
0:31.6	we're really talking about two big legal matters that have ensnared Donald Trump here.
0:36.0	The first is the case of Eugene Carroll. I'm a writer who sued Donald Trump for sexual abuse and defamation.
0:44.0	He was found responsible by a jury and those total about $88 million in verdicts against him.
0:50.0	The second that we're talking about is the much larger New York fraud case brought by the New York Attorney General accusing Trump of inflating his net worth and committing basically large scale fraud over the years. He was again found responsible in that case last year and was fined about 350 million dollars for him personally
1:12.1	plus about 100 million dollars in interest and that number is about $350 million for him personally,
1:12.5	plus about $100 million in interest,
1:14.4	and that number is growing every day.
1:15.9	So as we sit here right now,
1:17.2	the former president does owe over half a billion dollars.
1:20.7	So can you remind us how much of his fortune is liquid?
1:24.0	Forbes estimates that he has about 400 million dollars of liquid assets right now.
1:30.0	That's out of a net worth estimate as of last September, about 2.6 billion dollars.
1:35.1	And I want to talk about some good news, bad news for the former president coming out of an
	...

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