Trump owes more than $100 million from New York legal troubles – Washington Examiner
Former President Donald Trump is facing significant financial liabilities, amounting to over $100 million, due to various legal challenges in New York. Recent financial disclosures, released ahead of the upcoming November election, detail these obligations stemming from his settlement with journalist E. Jean Carroll and a civil fraud case.
Specifically, Trump owes between $1 million and $5 million to Carroll related to her first civil lawsuit, in which a jury found him liable for sexual abuse and defamation, leading to a $5 million verdict against him. In a second lawsuit, he is liable for an additional $50 million after being found guilty of defamation, with a jury awarding Carroll $83.3 million for damages to her career.
Additionally, Trump owes $50 million in connection with a civil case brought by New York Attorney General Letitia James, in which he was found guilty of inflating his net worth. This ruling resulted in a total penalty exceeding $350 million, including prejudgment interest.
These disclosures provide insight into Trump’s financial situation as he navigates these legal challenges amid his political ambitions.
Trump owes more than $100 million from New York legal troubles
New financial reports reveal former President Donald Trump still owes millions from his legal troubles in New York.
His latest financial disclosure report released Thursday revealed he owes $100 million in liabilities from his settlement with journalist E. Jean Carroll and his New York civil fraud case. This disclosure is the first peek into the former president’s finances ahead of the November election.
Trump owes between $1,000,001 and $5 million in liabilities to Carroll for her first civil lawsuit against him. Trump lost that suit in May 2023 when a jury found him liable for sexual abuse and defamation. In that case, Trump was ordered to pay Carroll $5 million.
For Carroll’s second civil lawsuit against the former president, Trump still owes her $50 million. Earlier this year, a jury found Trump guilty of defaming Carroll and awarded her $83.3 million. In that suit, Carroll said Trump ruined her writing career and harmed her professionally.
Trump also owes $50 million in liabilities to the state of New York after he was found guilty of conspiring to manipulate his net worth. He was ordered to pay more than $350 million in penalties plus $100 million in prejudgment interest. New York Attorney General Letitia James, who brought on the case, was listed as a “creditor” in his financial disclosure.
In April, Trump posted a $175 million bond in the case after a New York appeals court reduced the $454 million bond payment that was originally required. The payment helped him avoid having his assets, including Trump Tower in Manhattan, seized.
Trump has never publicly revealed his entire net worth but has described himself as a “billionaire.”
According to the financial disclosure, the largest segment of Trump’s wealth is his ownership share of Trump Media & Technology Group, which is the parent company of Truth Social. Trump reported owning nearly 115 million shares of the company’s common stock, which is estimated to be $2.7 billion.
One of Trump’s largest sources of income is from his Mar-a-Lago club in Palm Beach, Florida, where he reported making about $57 million in income from the club. This figure is down from the $65 million reported in the disclosure last year.
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