Lodi Valley News.com

Complete News World

Trump faces a $370 million fine: How will he pay?

Trump faces a $370 million fine: How will he pay?

The fine will be equivalent to less than 20% of the assets. Based on these estimates, the $355 million fine would cost nearly a fifth of the former US president's fortune.

Properties. Trump owns numerous properties across the United States, such as buildings, golf courses, hotels, and a wine cellar. According to Forbes, in New York City real estate alone, there is 690 million USD (3.4 billion R$) accumulated. To raise the amount, he can sell some of them.

Selling assets. Trump could also sell assets from his companies to raise enough money. “Something will have to be sold or made in order to raise the money to pay that kind of cost,” William Thomas, a professor at the University of Michigan's Ross School of Business, told the BBC.

Donations from supporters. According to the New York Times, 10% of every dollar raised from his supporters at his two funds — Save America and Make America Great Again — goes to pay for his defense in his civil and criminal trials. Therefore, Trump can continue to use his massive fundraising machine to pay off the $1 million fine.

To avoid paying an advance, Trump could also try to obtain a bond from a bail bonds company – A guarantee from a third party that he will be able to pay the full fine. However, to do so, he will be required to pay about 10% of the total amount owed – without recovering this fee – and provide collateral, such as one of his properties, according to the BBC.

See also  The consumption of frog legs in France causes an ecological imbalance in Asia; Understands

Properties as collateral. Attorney Ryan Saba told ABC News that if Trump chose to take out a bond using one of his properties as collateral, the bond company would likely require the asset to cover about 125% to 150% of the total value of the debt.