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Trump's money Troubles - for Scylla and Cru

a nice summary in Politico

TRUMP’S MONEY PROBLEMS, PART I — The big takeaway from last night’s FEC deadline? JOE BIDEN has a major fundraising advantage over DONALD TRUMP.

In February:
 

  • Biden’s campaign raised $21.3 million. Cash on hand: $71 million.
  • Trump’s campaign raised $10.9 million. Cash on hand: $33.5 million.
  • The Democratic National Committee raised $16.6 million. Cash on hand: $26.5 million.
  • The Republican National Committee raised $10.7 million. Cash on hand: $11.3 million.

For those of you who aren’t math majors, the combined sums of Biden and the DNC more than doubled the combined sums of Trump and the RNC. (Those totals don’t include either side’s joint fundraising committees or super PACs.) More from Elena Schneider, Jessica Piper And Zach Montellaro

TRUMP’S MONEY PROBLEMS, PART II — Trump’s leadership PAC, Save America, spent another $5.6 million on legal expenses in February, and was “kept afloat” by a $5 million refund from MAGA Inc., a pro-Trump super PAC, Jessica Piper, Natalie Allison and Zach Montellaro write. MAGA Inc. “has now sent more than $50 million to Save America since last year to help cover Trump’s many legal costs,” and there are serious doubts about how much longer it can afford to do that.

TRUMP’S MONEY PROBLEMS, PART III — The RNC raised $10.6 million last month, a total that is “unlikely to help the party cut into Democrats’ massive fundraising advantage heading into the general election campaign,” our colleagues Natalie Allison and Jessica Piper report. (It has $11.3 million cash on hand — less than the $11.5 million NIKKI HALEY’s now-defunct campaign had in the bank at the end of February.)

TRUMP’S MONEY PROBLEMS, PART IV — “As Donald Trump faces dwindling options to pay off a massive fine imposed as a result of losing a fraud case in New York, financial experts say filing for bankruptcy would provide one clear way out of his financial jam. But Trump is not considering that approach, partially out of concern that it could damage his campaign,” WaPo’s Jonathan O'Connell and Josh Dawsey report.

ON THE OTHER HAND … “Trump Is in Line for a $3.5 Billion Windfall From Stake in Truth Social,” by WSJ’s Amrith Ramkumar

Can you just declare bankruptcy in America if you don't fancy paying your debts?  Surely he does have that amount of money if you add up all his ill-gotten assets.

Can you just declare bankruptcy in America if you don't fancy paying your debts?  Surely he does have that amount of money if you add up all his ill-gotten assets.

I don't think he has anything of value to his name. It'll all be in some super-opaque LLC/Virgin Islands/Wyoming Inc. structure.

Threeepwood21 Mar 24 11:06

Can you just declare bankruptcy in America if you don't fancy paying your debts?  Surely he does have that amount of money if you add up all his ill-gotten assets.

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I would imagine there are trusts and weird holding structures that mean if Trump himself declares bankruptcy it doesn't really impact his organisation and he doesn't lose his job as CEO of Trump co etc?

I saw something funny today that said he doesn’t even own Trump Tower. 

He owns the car parks, valet booth, lobby, 1 unit and a restaurant space… 

Nothing else. 

Comedy 

‘How TF is he going to get $3bn for a social media platform with under a million active users? ‘ 

*****

Easy if it’s just another money laundering vehicle.  Like every other single thing he does. 

 

* sigh * this is so delicious.

I am also curious as to how they come up with that valuation for Truth Social?  I thought it was very much a damp squib of a social media platform…

Eddie2Shoes 21 Mar 24 13:02

yeah, the truth social valuation is clearly a scam / laundering job.  He won't get away with this one either

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I've been skimming a few articles and it seems he wouldn't be able to dump his shares for a few months post listing 

 

Threeepwood 21 Mar 24 12:35

Right but you lose your shares in Trump Co 1241982 Panama Limited though right?  Right?

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traditionally when you have a family business and they want to leverage it but hedge against losing control what you would do is incorporate a charity (dutch stichtings used to be popular for this) and dump maybe 10-15% of the shares into it - have the charity managed by some arms length professionals and sit half your kids on the charity board

then is you go broke your charity still holds an annoying amount of sway over your business and you can effectively keep your claws in it

 

it'll be interesting to see what happens if he does manage to liquidate his interest in the social media company

one wonders who else is waiting for trump to get some ready cash

his stake (70 million odd shares I think) is valued at about 3 billion on the current supposed valuation, but I think he can't sell his shares until a couple of months after the IPO

and if it tanks, then all the better

That link explains it quite well.  It's 6 months sumo.  A long time for a meme stock to hold its value when the world and its dog knows the face of the company is desperate to get out asap...

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