Former President Donald Trump revealed his financial status on Thursday.
Former President Donald Trump shared details of his financial situation this week, highlighting that he has significant liabilities tied to judgments from civil cases.
In addition to the Carroll judgments, Trump also faces a liability of over $50 million for an appeal bond in a civil fraud case brought by New York’s attorney general. This amount is linked to a ruling where Trump and his company were ordered to pay $455 million for allegedly defrauding banks and inflating company assets.
Following a court ruling, Trump was ordered to pay over $350 million in penalties and $100 million in interest, with restrictions on serving as an officer in a New York company for three years. Trump posted a $175 million bond after a state appeals court reduced the initial bond payment.
Trump’s legal team has appealed the judgment, arguing that it was erroneous and egregious. The case is set for oral arguments in late September.
His financial disclosure also revealed ownership of more than $1 million in cryptocurrency and a $50 million valuation of his social media company, Truth Social.
Trump has shown support for the cryptocurrency industry, proposing a national strategic stockpile of cryptocurrency at a recent conference he attended. He emphasized the importance of the United States being a leader in the crypto world.
According to the disclosures, Trump has earned royalties from various books and ventures, including collaborations with singer Lee Greenwood.
The Associated Press contributed to this report.
Please rewrite this sentence.
Source link
