(TSN): Donald Trump posted on Truth Social that he has over $500 million in cash as the deadline for his fines related to a civil fraud case looms. If he fails to pay by Monday New York Attorney General Letitia James may seize his assets. She has also been authorized to verify that claim about the amount of cash he has on hand. Various reports said that he has around $350 million, far less that the $454 million he is expected to pay. He said that the tapped into campaign funds to boost the amount. The post does not say he is going to put up the amount he mentioned. Perhaps he is attempting to change public perception that he is not as wealthy as he proports to be.
HIs attorneys had said he did not have the liquid cash on hand to satisfy the judgment and they had reached out to 30 insurance companies who would not underwrite a bond. They have been arguing in appeals court to reduce the amount of the judgment that Judge Arthur Engoron determined.
It has been a guessing game on where the former president can get the enormous sum of money from in a month's time. As a real estate developer he has high dollar real estate (golfing, hotels and resorts) he would need more time to sell and a rushed "sale would likely mean he would sell at a loss. he may have a better chance of raising cash quickly via a merger. AP is reporting that on Friday a vote to merge Trump's media company with Digital World Acquisition Corp., a publicly traded shell company Digital World Acquisition Corp., a publicly traded shell company.
"If the merger is greenlit, which is likely, Trump stands to receive a sizeable payout. He would own most of the combined company — or nearly 79 million shares. Multiply that by Digital World’s current stock price of more $42, and the total value of Trump's stake could surpass $3 billion," AP reported. Yet, any funds obtained would not be immediately available.
Political pundits are reading the tea leaves and surmising that Trump may have to file for bankruptcy.