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

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."

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"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."

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