Is Trump Broke? Save America PAC On The Verge Of Collapse Amid Legal Battles
Former President Donald Trump’s financial resources for his mounting legal bills are dwindling rapidly, potentially reaching tens of millions of dollars if he proceeds with trials for all four criminal cases.
Not Much Money Left
His primary fund, which has collected over $150 million, has almost been entirely depleted, leaving only a meager sum of less than $4 million.
Trump Doesn't Contribute
This fund has been tapped into for 2024 campaign ads and utilized to secure bail in Georgia. Meanwhile, his allies are making pleas for donations, as Trump appears reluctant to contribute.
Millions And Millions In Legal Expenses
Legal experts specializing in white-collar crime have projected that Trump’s legal expenses could range from millions to tens of millions due to the complexity of defending against four criminal cases and his high-profile status.
The Cost Of His Trial
According to legal professionals, fees for a local attorney in his racketeering trial alone could be between $500,000 and $1.5 million. This case’s intricate nature and Trump’s notoriety could result in a premium charge.
Defense attorneys note that a trial lasting a couple of weeks could easily cost $10 million, while the extensive scope and complexity of the Fulton County case could escalate costs further.
What Lawyers Might Charge
Elite lawyers might charge a flat fee irrespective of trial duration, ranging from $2 to $3 million (given Trump’s prominence). Others may command between $10,000 and $30,000 daily during the trial.
Many Factors Involved
The number of lawyers required and the legal complexities involved are crucial factors affecting costs. Racketeering cases – such as Trump’s – are known for their unwieldy nature, potentially leading to protracted trials.
With hourly rates for these high-profile lawyers averaging around $2,000, costs quickly add up due to pretrial preparations, discovery document examination, and witness preparation. The collective expenses for Trump’s four cases are anticipated to be substantial.
Trump’s primary fund for legal fees, Save America, has been nearly exhausted, with only $3.7 million remaining of the $154.6 million raised since the 2020 election.
Significant transfers were made to Trump’s 2024 campaign super PAC, but these were later refunded as legal challenges mounted, leaving Save America potentially in debt.
There Are Concerns
In addition to legal costs, Save America has allocated funds for travel, payroll, event production, and other initiatives. Trump’s tweet about dwindling funds suggests his concerns about his ability to finance advertisements against President Joe Biden.
Hindrance To Competition
Transfers from related accounts could alleviate Trump’s financial burden but might hinder his competitiveness in the Republican Primary, particularly considering the well-funded super PAC supporting Florida Governor Ron DeSantis.
He's Worth An Estimated $2.5 Billion
While Trump’s wealth is challenging to pinpoint, Forbes estimates it at $2.5 billion, with most in real estate and $425 million in cash. If he is as wealthy as he claims, paying from his own resources should be feasible.
As Trump faces his legal battles, his expenses are mounting, and the availability of funds is becoming a critical issue.