Donald Trump just lost everything
Judge Arthur Engoron announced a $364 million verdict against Donald Trump today, while also banning Trump from doing business in New York for three years, and fining his adult sons a few million dollars each. This is a full vindication for New York Attorney General, Letitia James, who got nearly the exact dollar amount she was seeking. It’s also almost certainly the end of Donald Trump financially.
Trump just lost $83 million to E. Jean Carroll, and now he owes another $364 million to the state of New York. That’s a combined $447 million. Trump has recently claimed that he has around $400 million cash on hand, but he’s provided no evidence of this. It’s almost impossible to imagine that this is the case. When people are deeply in debt, every bit of the money that they bring in immediately goes right back out for debt service each month.
It’s also been speculated that Trump might attempt to borrow against his properties in the hope of avoiding asset forfeiture. But in order to borrow against your property, you need to have equity in them, and Trump appears to be upside down on most of his properties. There’s also almost no one who wants to loan money to him anymore, and he was just banned from borrowing money from New York banks.
The bottom line is that Trump almost certainly won’t be able to write a check to cover the money he now owes. Nor does he appear to be in a position to appeal either verdict. This would mean that we would move onto the asset seizure stage. In other words, because of this verdict today, Trump just lost everything. The only silver lining for him is that he won’t need money when he’s in prison.
