Trump’s 'legal troubles' are rapidly 'consuming donor money': FEC filing

21 February 2024

According to Forbes, Donald Trump's net worth is an estimated $2.6 billion.

That's a fraction of the net worth Forbes has reported for other billionaires, including Tesla's Elon Musk ($198.5 billion), Amazon's Jeff Bezos ($193.9 billion) and Facebook's Mark Zuckerberg ($165.1 billion). But Trump is far from poor.

The 2024 GOP presidential frontrunner, however, is facing a long list of costly legal problems, from a range of civil lawsuits to four criminal indictments — problems that, according to the Daily Beast's Roger Sollenberger, are "consuming more of his donors" money and creating "a huge hole in the bucket."

"On Tuesday, (February 20), Trump's 'Save America' leadership political action committee reported raising just $8508 from donors in the entire month of January, while spending about $3.9 million, according to a new filing with the Federal Election Commission," Sollenberger reports. "Nearly $3 million of that overall spending total was used for one purpose: to pay lawyers."

The Daily Beast reporter continues, "At the same time, the Trump campaign itself reported a net loss of more than $2.6 million for the month of January. It raised about $8.8 million while spending around $11.5 million, according to a separate filing made public on Tuesday. The filings reveal that Trump is continuing to burn through his donors' funds as he struggles to feed two massive cash drains — astronomical legal bills stemming from numerous civil cases and four criminal indictments, plus the costs of a national presidential campaign."

The Save America PAC, according to Sollenberger, "exists almost exclusively to cover the former president's legal bill."

"Trump's cash crunch is hitting at a terrible time," Sollenberger observes. "Recent weeks have seen two massive legal judgments against the former president. First came the $83.3 million sum for the writer E. Jean Carroll, whom he was found liable for sexually abusing and defaming; that was followed weeks later with a whopping $355 million fine for years of business fraud in New York."

Read the Daily Beast's full report at this link (subscription required).

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