Donald Trump is in a cash crisis. He is unable to pay the fine. No financial company will guarantee the amount due within a few days.
Trump may go bankrupt himself, but it's not all bad for a presidential candidate who has built his reputation as a highly successful businessman.
He could sell real estate, or much better: he could get help from friends with billions on their books.
Fortunately for Trump, he has many wealthy friends. They can give him financial aid in crises.
Just before Easter, some of them line up for an exclusive dinner in Palm Beach. A portion of the proceeds goes to Trump's campaign. The surplus goes to pay legal fees.
Dinner guests who pay $814,600, or 8.7 million Norwegian kroner, get a place at Trump's table. The cost of an entrance ticket for others is 250 thousand dollars, or 2.6 million Norwegian kroner.
With purchase, everyone receives a richly illustrated picture book titled “Our Shared Journey.” There are photos of Trump when he was president, which are suitable for both nostalgics and those hoping for a comeback.
And last but not least, happy donors at the dinner in Palm Beach will be able to have their photo taken with Trump.
Trump spends a fortune on lawyers prosecuting four criminal cases and several civil lawsuits.
In the past two years, according to the Associated Press, Trump has spent $76 million, or more than 800 million Norwegian kroner, on legal fees.
He does not take it out of his own pocket. He is short of money. But Trump has a separate fund where 85% of the money goes to cover legal expenses. Other funds were created for election campaign purposes.
In February, he was ordered to pay nearly five billion kroner in fines after losing a fraud case in a New York court. Everything is big in America, including the level of fines. This fine is more than Trump can afford.
His lawyers contacted 30 insurance companies, all of which refused to provide a guarantee worth five billion kroner. The fine is due at the end of March.
However, Trump appealed the ruling and asked for the payment to be postponed until further notice.
Trump was convicted of manipulating the value of his properties. Either by inflating the value to get better loan terms. Or by reducing the value to pay less in tax.
Trump believes the ruling is another example of the “worst witch hunt ever,” in which he plays the innocent victim.
If Trump cannot pay, New York judicial authorities are preparing to seize some of his properties, primarily a golf course and a mansion in suburban Westchester.
Trump also owns apartments and hotels in New York City.
Most polls show Donald Trump narrowly ahead of Joe Biden in the presidential campaign. But Biden has clearly taken the lead in raising campaign funds.
At the end of February, Biden had $71 million in his campaign fund, while Trump had $33.5 million.
Trump's problem is that he needs money to run a campaign and defend himself in several ongoing lawsuits. There are clear rules for how campaign funds are used, which Trump should be well aware of.
In the case in which Trump was accused of paying “hush money” to porn actress Stormy Daniels, the court will now decide whether there was an illegal use of campaign funds. Trump denies the criminal charge. The case will go to court in April. If found guilty, he could be sentenced to up to four years in prison.
In the long term, Trump could benefit greatly from the fact that his media company, Trump Media & Technology Group, merged with another company, Digital World, on Friday. The new company, in which Trump will own 58 percent, will be listed on the stock exchange.
Meanwhile, Trump is selling gold sneakers for $399 and Victory perfume for $99.
On a single day last year, Trump made more than $4 million selling a “selfie” of himself, taken at the Fulton County Jail, and reproduced on T-shirts, coffee cups and posters.
Money has no smell, as they used to say in the Roman Empire. But Trump now needs more than a handful of dollars.
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