“If he does not have the means to pay the sentence, we will take legal action to enforce the sentence and ask the judge to confiscate his assets,” James told US broadcaster ABC.
James said verbatim in Tuesday's interview (local time): “We're ready to make sure the judgment is paid to New Yorkers, and yes, I look at Wall Street 40 every day.” Renowned financial district The Trump Building is located in Manhattan. ABC interpreted this as an indication that the former president's properties could also be confiscated.
Steve Helber Trump's Mar-a-Lago estate in Florida, AP/Steve Helber Trump
Forbes estimates real estate at US$690 million
In addition to the Trump Building, Trump company properties in New York state include the famous Trump Tower and the Trump Park Avenue Hotel, which is known, among other things, as the place where Bob Dylan met the Beatles. Forbes magazine estimates the total value of Trump's New York real estate assets at about $690 million (about $640 million). Trump's Mar-a-Lago estate in Florida is also well known.
Trump was sentenced on Friday in a civil trial in New York to a fine of 350 million dollars (about 320 million euros) because he, together with his sons Donald Junior and Eric, artificially increased the assets of the real estate empire of the family worth billions of dollars throughout the year. years would have inflated it in order to obtain favorable conditions from banks and insurance companies.
The deposit must be paid
In accordance with the verdict of the New York fraud trial, Trump's lawyers announced on Friday that they would appeal. However, according to consistent US media reports, the former president has to pay money or some kind of guarantee as bail.
However, Trump cannot yet appeal because the verdict has not yet been officially written. When this happens, Trump will have 30 days to appeal and suspend the fine or pay.
Value increases by $87,502 daily
Trump's lawyers argued Wednesday with prosecutors and the judge about what should be in the documents. Trump's lawyer, Cliff Robert, told the court in a letter Wednesday night that he wanted to delay the execution of the sentence “to allow for orderly post-conviction proceedings, especially given the severity of the verdict.”
The amount Trump owes the state grows every day. With interest, he now owes almost $454 million (around €420 million) – because the amount increases by $87,502 (almost €81,000) every day until he pays it off, Portal reported on Thursday.
AP/Chris Carlson Donald Trump at campaign rally
How much money does Trump have left?
Trump's ability to pay off his mounting legal debts is increasingly uncertain after successive court defeats, Portal said. Last month, Trump was ordered to pay $83.3 million (about 77 million euros) in a civil defamation lawsuit against columnist E. Jean Carroll.
Trump said last year that he had about $400 million in cash reserves that would be eroded by his legal sanctions. The rest of his wealth, which he says amounts to billions of dollars, is invested in golf courses, skyscrapers, other real estate, and investments and other holdings. It's unclear how rich Trump really is, as the information comes from Trump himself, according to Portal.
Legal battle could overshadow primaries
If Trump appeals, as his legal team apparently plans, the legal dispute over his business practices could last until the middle of the Republican primaries in the race for the White House, Portal said.
An appeal is also likely to overlap with his criminal trial next month in New York. This is an alleged secret payment to former porn actress Stormy Daniels. The trial is scheduled to begin on March 25. However, the jury must then be selected before the trial itself can begin.
Warning Signs for Big Donors
According to several media reports, Trump's campaign funds are not as buoyant as they were in the last election. The latest reports on his campaign financing in the Republican primaries already contained warning signs, according to the AP news agency.
Reports showed that two key support committees raised just $13.8 million, collectively spending more than they raised. The AP sees the main reason for the high expenses in Trump's millions in legal fees.
Trump's current numbers and reduced cash flow would send an alarming signal, “particularly to potential donors who are not prepared to subsidize Trump's legal challenges,” he said. According to official information, 33 million dollars entered Democratic President Joe Biden's campaign coffers in the last quarter of 2023.
Portal/Evelyn Hockstein, Trump's daughter-in-law, Lara Trump
Daughter-in-law as plan B
Trump has put in place a plan B in case there is no longer enough money to cover his legal difficulties. His daughter-in-law, Lara Trump, who has been named the new vice chair of the Republican National Committee, said Wednesday that the organization needs to raise $500 million for the 2024 general election and has not ruled out using the funds raised to pay for Trump's legal expenses. rates, according to Portal reports. In the USA, the House of Representatives and a third of the seats in the Senate will be re-elected at the same time as the President, on November 5th.