Donald Trump’s businesses will struggle to stay afloat even if he manages to pay a $454 bond on Monday.
A potential Donald Trump payment of $454 million in his New York fraud trial will bring him close to bankruptcy, a financial analyst has said.
Trump has until Monday to pay the $454 million he was ordered to pay after a New York judge ruled that he had committed fraud to obtain favorable bank loans.
On Friday, Trump said that he has $500 million in bank accounts. Gabrielsen, however, said this might not be enough to keep Trump’s businesses afloat.
« If Trump really has $500 million in cash in his accounts, then all the courts need to do is seize $454 million of that cash leaving him with only about $46 million in cash float, » Gabrielson said.
He added that this is « surely not enough to cover the day-to-day variability in cash needed for the size of his business. »
Gabrielson said that Trump, in this situation, would have to sell some properties to keep his businesses to avoid bankruptcy.
