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.
