Romain Rouillard / Photo credit: TAKAYUKI FUCHIGAMI / YOMIURI / THE YOMIURI SHIMBUN VIA AFP
For Donald Trump, the most recent news is rather good. The New York billionaire has been assured, since last night, of obtaining the nomination of the Republican Party for this year’s American presidential election where he will face the current tenant of the White House, Joe Biden, in a remake of the last election. A bright spot in a sea of tumult for the former president, particularly on the financial level.
Donald Trump’s fortune has indeed experienced some setbacks recently. The fault, among other things, of the countless legal troubles piling up before him. The former president recently posted a $91.6 million bond in New York federal court to appeal his $83.3 million award in author Elizabeth Jean Carroll’s defamation case. The latter had accused him of having raped her in the 1990s.
A fortune difficult to quantify
But above all, the real estate mogul must pay a colossal fine reaching nearly $454 million, including interest. A sum that he must pay to the State of New York for having overestimated the value of his property, in order to obtain advantageous bank loans. A dizzying amount for ordinary people, but also for Donald Trump. His lawyers also indicated, at the end of February, that their client simply did not have the means to pay such a sum.
Firstly because its real wealth remains shrouded in mystery. “His fortune has been the subject of many articles, but in reality, we know very little about it. He cultivates secrecy,” notes Jean-Éric Branaa, specialist in the United States. According to Forbes magazine, it currently stands at $2.6 billion, but this figure is difficult to verify. This is evidenced by the gargantuan fine that was imposed on him, precisely for having inflated the value of this fortune.
“And when he talks about his fortune, he includes his hotels, his golf courses… But all these assets are not in liquidity. He does not have this money in the bank,” notes Anne Toulouse, Francophone journalist. American, author of two works dedicated to the New York billionaire. A fortune that is difficult to quantify and above all down compared to 2022 when it reached 3 billion dollars, again according to Forbes.
Image damage
As in the case between him and Elizabeth Jean Carroll, Donald Trump has the possibility of posting bail in order to appeal this fine of more than 450 million euros. “It’s like when you put money in the deposit fund,” illustrates Anne Toulouse. A sum which will be returned to him, if by chance his conviction were to be annulled. “If he deposits this amount, he will be able to use funds that allow you to obtain money loans, up to 10% of the amount you deposit,” says Jean-Éric Branaa. However, time is running out for the former president who must find a way to obtain, in cash, an immense sum of money by the end of March.
To achieve this, Donald Trump may have to sell part of his real estate. “Properties that would lose a lot of assets if he ever had to sell them quickly,” notes Jean-Éric Branaa. Not to mention that a transfer of part of its assets would cause significant damage to its image. “The hardest thing for him would be to sell significant properties, like the Trump Tower,” notes Anne Toulouse. And in view of the situation, no hypothesis, according to her, can be ruled out.
For Donald Trump, the ultimate hope could lie in the IPO of his social network Truth, which would bring him around 4 billion dollars. A scenario, which would rid the billionaire of a certain number of worries, but in which Anne Toulouse hardly believes. “I would be very surprised if his network went public. It’s not a very profitable business,” she emphasizes. Truth has indeed been accumulating losses since its launch. The value of the network’s parent company, 90% owned by Trump, fell from $730 million to less than $100 million.