His lawyers have told the court it is impossible for him to raise that much money. In a Friday post on Truth Social, his social media platform, Trump said he had done nothing wrong. Failure to post the bond could lead to New York Attorney General Letitia James seizing his assets.
Trump’s lawyers did not respond to requests for a comment.
Below is a breakdown of some of Trump’s assets and sources of income, based on court filings and federal financial disclosures. In some cases the values reported by Trump were disputed in the New York civil case, which the real estate billionaire plans to appeal.
Trump said in the Truth Social post on Friday that he has “almost five hundred million dollars in cash.” In an April 2023 deposition with New York Attorney General Letitia James he said he had “substantially in excess of 400 million in cash.”
That number has gone up from Trump’s previous disclosures. A June 30 2021 statement of financial condition that Trump submitted to the court showed that he had $293.8 million worth of cash and cash equivalents at the time.
Trump has a variety of sources of income, financial disclosure forms filed with the federal government in August 2023 show.
In 2022, Trump reported at least $537 million in revenues related to golf courses and hotels, $30.4 million in licensing fees and royalties, $26.5 million of management fees, and $61.1 million in distributions from his stake in buildings such as 1290 Avenue of the Americas in New York.
Trump also made $6.2 million from speaking engagements and $116,103 in pension from the Screen Actors Guild and the American Federation of Television and Radio Artists. In addition, he reported $268.7 million proceeds from his Washington DC hotel, including a gain on the sale of the property, and nearly $1 million from the sale of two helicopters.
Trump owns hotels, office buildings, residential buildings, golf courses and estates. A June 2021 financial statement listed several of his most valuable properties such as 40 Wall Street, an office building in New York, the Trump Tower in Manhattan, and the Mar-a-Lago resort in Palm Beach, Florida. The financial statement said his properties were worth $4.3 billion at the time, while Trump owed a total of $439.2 million in loans and other liabilities. It said his net worth was $4.5 billion.
Among his major properties, the document said golf clubs and other club facilities were worth $1.76 billion, New York buildings such as Trump Tower and Trump Plaza were worth $524.7 million and $33.4 million, and his stakes in two buildings jointly owned with Vornado were worth $645.6 million.
In the New York case, the judge ruled Trump had overstated the value of some of those properties over the years, including inflating the value of 40 Wall Street by $120 million in 2015, and overstating the value of Seven Springs, a property in New York’s Westchester county, by $147 million in 2014. The judge called Trump’s estimated value of Mar-a-Lago “fraudulent” and wrote it is “possibly a billion dollars or more” over its market value.
Truth Social is worth about $6 billion, based on how shares in a blank-check acquisition company it is set to merge with are trading. Trump’s shares in the combined company are currently worth about $3.6 billion, and the percentage of his stake could end up between 58.1% and 69.4%. Trump cannot sell his shares or borrow against them for six months after the merger is completed.
(Reporting by Koh Gui Qing, Paritosh Bansal and Greg Roumeliotis; Editing by David Gregorio)
Copyright 2024 Thomson Reuters.