The eye-popping judgment against former President Trump in his New York fraud case has laid bare his precarious financial status, a matter that has sent the notoriously incensed real estate mogul o…
“I currently have almost five hundred million dollars in cash… The often overturned political hack judge on the rigged and corrupt A.G. case, where I have done nothing wrong, knew this, wanted to take it away from me, and that’s where and why he came up with the shocking number which, coupled with his crazy interest demand, is approximately $454,000,000,” Trump wrote in all caps on Truth Social Friday morning.
I can’t live off of the millions of dollars that would be leftover.
People who live paycheck to paycheck buy this crap. I mean, what’s he supposed to do with his “millions” in the interim? Just starve to death?
It’s all bullshit anyway as nobody with $500M would just leave it sitting around liquid/as cash. That’d generate around $40M a year in interest by just investing it in basic shit and getting an average return.
Most likely bonds (as you said, cash equivalents). When you get to a certain level of wealth, instead of paying taxes, you lend that same money to the government and receive interest on it.
And/or because it’s hidden away in some tax haven under somone else’s name.
Right now $9.5 billion in Treasury Bills can make you $484 million per year. Enough to buy a yacht or pay a massive civil penalty, depending on who you are.
That’s the best thing about Trump not being able to scrape together $460 million. Any real billionaire would just get a loan and pay it off with the income from their investments over time. Never sell good assets unless it’s for more money.
Trump has no good assets that he hasn’t already mortgaged. So no bank will lend to him. He’s probably fucked. We’ll see on Monday.
I can’t live off of the millions of dollars that would be leftover.
People who live paycheck to paycheck buy this crap. I mean, what’s he supposed to do with his “millions” in the interim? Just starve to death?
It’s all bullshit anyway as nobody with $500M would just leave it sitting around liquid/as cash. That’d generate around $40M a year in interest by just investing it in basic shit and getting an average return.
Well I wouldn’t say “nobody” it matters how many billions you got…
For example Bezos keeps 5% of his wealth (currently 9.5B) in cash. I assume that’s cash and equivalents… but who knows.
Most likely bonds (as you said, cash equivalents). When you get to a certain level of wealth, instead of paying taxes, you lend that same money to the government and receive interest on it.
And/or because it’s hidden away in some tax haven under somone else’s name.
I wouldn’t trust a word of it myself.
I think I would too. He could live the entire rest of his life on 9B making zero interest and losing value to inflation.
Right now $9.5 billion in Treasury Bills can make you $484 million per year. Enough to buy a yacht or pay a massive civil penalty, depending on who you are.
That’s the best thing about Trump not being able to scrape together $460 million. Any real billionaire would just get a loan and pay it off with the income from their investments over time. Never sell good assets unless it’s for more money.
Trump has no good assets that he hasn’t already mortgaged. So no bank will lend to him. He’s probably fucked. We’ll see on Monday.