Despite critics claiming he is poor, Donald Trump has revealed that he has nearly half a billion dollars in cash, approaching the deadline to pay his $464 million New York bond.
Trump’s lawyer has previously stated that the former president cannot afford to pay the ruling against him and has requested a delay. Attorney General Letitia James is expected to begin enforcing the judgment on Monday, March 25.
If unpaid, the state could freeze Trump’s accounts and seize his New York properties, including Trump Tower.
In an all-caps message on Truth Social, Trump said: “THROUGH HARD WORK, TALENT, AND LUCK, I CURRENTLY HAVE ALMOST FIVE HUNDRED MILLION DOLLARS IN CASH, A SUBSTANTIAL AMOUNT OF WHICH I INTENDED TO USE IN MY CAMPAIGN FOR PRESIDENT.”
He accused James of imposing a large fine to prevent him from running for president in 2024, adding: “I DID NOTHING WRONG EXCEPT WIN AN ELECTION IN 2016 THAT I WASN’T EXPECTED TO WIN, DID EVEN BETTER IN 2020, AND NOW LEAD, BY A LOT, IN 2024. THIS IS COMMUNISM IN AMERICA!”
Trump’s net worth is estimated at $2.6 billion as of March 2024, including inheritance from his father, real estate properties, and Trump-branded merchandise. Forbes suggests that Trump has around $426 million in cash and personal assets worth an estimated $640 million.
They claim he’s not as wealthy as he says, but also not as poor as some critics suggest.
The New York Times reported that Trump inherited at least $413 million from his father’s business empire when he passed away in 1999.
According to reports, Trump became a millionaire by the age of eight due to trust funds set up by his father and grandfather starting in 1949.
Trump Tower is thought to be worth $52 million, while his grand Seven Springs estate in Westchester Country, New York, is believed to be valued at $25 million.
His New York real estate portfolio is estimated to be worth a total of $690 million, with properties outside of the state adding another $190 million.
His home on St Martin Island is said to be worth $11 million, and his three homes in Palm Beach, Florida, are collectively worth about $76 million.
A large portion of Trump’s wealth seems to be invested in his golf clubs and resorts, which reportedly account for $870 million of his total fortune.
His ten American golf clubs have a net value of $216 million, while Mar-a-Lago in Florida is thought to be worth $292 million.
Trump’s social media and brand businesses are estimated to be worth $160 million, but it’s suggested that he could make billions through Truth Social.
Investors have given the thumbs up to Trump Media, which runs Truth Social, becoming a company on the stock market. This happened after the people who own shares in Digital World Acquisition Corp decided to go ahead and buy it on Friday.
Trump owns at least 58 percent of the new company, which could be worth over $3 billion right now.
But this big deal might not help Trump with his money troubles in New York. He can’t sell any shares for six months at least, and he might need to ask the bosses of the new company if he can break this rule.
Before they all agreed, Trump Media said that joining together “will enable Truth Social to enhance and expand our platform.”
