This should be enough to bankrupt Donald Trump
Donald Trump has already strategically filed for bankruptcy several times over the years. But with his financial house of cards crumbling and his civil trials chipping away at him, could Trump actually go bankrupt and lose everything? As of today it sure looks like it.
A trial jury just decided that Trump must pay E. Jean Carroll a stunning $83.3 million in damages, on top of the $5 million from the previous trial. When you put this within the context of the $370 million that NY AG Letitia James is seeking to take away from him (in a trial whose verdict is coming any day now), it starts getting into numbers that are untenable.
Trump has previously claimed to have $400 million cash on hand, but as legal expert Lisa Rubin said today, a lot of people don’t believe he actually has it. This means Trump could be forced to sell off assets in order to pay these damages. But since he seems to be upside down on most of his properties, there may not be anything he can sell off for a profit. This would point to asset seizure and of course bankruptcy.
Bankruptcy still wouldn’t get Trump out of owing these kinds of damages. Trump really has no way out of this, other than to sit there and whine while his assets are taken from him. Where would he end up living? He’s going to prison anyway.
