Donald Trump will have to sell assets to pay the fraud penalty handed down by New York Judge Arthur Engoron, which will cost more than $355 million — and that’s not counting what he owes E. Jean Carroll.
Donald Trump’s companies have filed for bankruptcies six times, but now he may actually be about to go broke. On Friday, a New York judge penalized the former president $355 million after finding him liable for lying about his wealth and the value of his properties in New York — and that’s before interest charges, which could add another $50 million or so. Then there’s the $4 million owed by Eric Trump and Don Jr. each — which, come on, whose money is that really? The giant liabilities are due in part to Trump and his organization’s “complete lack of remorse,” Justice Arthur Engoron ruled, as well as for its deterrent effect: Trump and the Trump Organization’s officers were “likely to continue their fraudulent ways unless the Court grants significant injunctive relief.” Add this to the $88 million he owes writer E. Jean Carroll for defaming her, twice, and Trump owes roughly $500 million. That would wipe out almost his entire estimated cash pile and vaporize about a sixth of his total net worth.
