Rédaction Africa Links 24 with Uganda Monitor
Published on 2024-03-25 05:06:14
Former U.S. President Donald Trump is facing a critical deadline on Monday to post a bond covering a $454 million civil judgment against him in a New York state case. This comes after a judge found that he had overstated the value of his assets. Trump’s lawyers have expressed that it is impossible for him to raise such a large sum of money, putting his assets at risk of being seized by New York Attorney General Letitia James if he fails to post the bond. Despite these challenges, Trump maintains his innocence, stating on his social media platform, Truth Social, that he has done nothing wrong. Despite the urgency of the situation, Trump’s lawyers declined to provide any comments on the matter.
In examining Trump’s financial situation, a breakdown of his assets and sources of income reveals a complex financial portfolio. Court filings and federal financial disclosures shed light on Trump’s reported values, some of which were disputed in the New York civil case. Trump claimed to have nearly $500 million in cash in a recent post on Truth Social, a significant increase from the $293.8 million in cash and cash equivalents reported in a financial statement from June 2021. His federal financial disclosure forms from August 2023 highlight various sources of income, including revenues from golf courses and hotels, licensing fees, management fees, and distributions from real estate investments. Additionally, Trump earned income from speaking engagements, pension payments, proceeds from property sales, and other business ventures.
Trump’s diverse portfolio includes hotels, office buildings, residential properties, golf courses, and estates. Some of his most valuable assets, such as 40 Wall Street, Trump Tower, and Mar-a-Lago, are listed in financial statements. Despite these assets, the judge in the New York case found that Trump had inflated the value of certain properties, including 40 Wall Street and Seven Springs, casting doubt on the accuracy of his reported net worth.
On the business side, Trump’s social media platform, Truth Social, is valued at approximately $6 billion, with Trump’s shares in the company estimated to be worth around $3.6 billion. However, restrictions prevent Trump from selling or borrowing against his shares for six months after the completion of a planned merger. These financial details provide a glimpse into Trump’s complex financial situation and the challenges he faces in meeting the bond deadline.
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