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Trump’s PAC Has Just $5 Million in the Bank After Blowing $50 Million on Legal Fees (www.mediaite.com)

submitted 5 months ago by DevCat@lemmy.world to c/politics@lemmy.world

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Donald Trump’s political operation is reeling after spending around $60 million on legal fees pertaining to the four criminal indictments and various ongoing civil lawsuits against him.

Disclosures indicate that Trump’s campaign and the various political action committees supporting it blew through tens of millions of dollars in 2023, leaving him cash-strapped heading into 2024.

Save America PAC, Trump’s primary PAC heading into his likely rematch with President Joe Biden, once had over $100 million in the bank. Now, it has just a little over $5 million left after spending over $25 million on legal bills in the second half of last year alone.

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[-] squiblet@kbin.social 12 points 4 months ago

It’s a lot like how Elron Musk theoretically is worth billions, but still feels the need to run funny schemes on doge coin. He can’t sell substantial amounts and get cash without reducing the Tesla share price and thus his overall net worth even more than what he took out.

[-] Corigan@lemm.ee 3 points 4 months ago

Not wholy true, he might not be able to sell his stocks but he can take out loans against them for money.

It's the Buy, Borrow, Die Strategy, and how they avoid taxes as well. He's not poor he doesn't need to grift and he has all the liquid money he could ever need for a thousand life times...

[-] squiblet@kbin.social 1 points 4 months ago

Elton still does feel the need to do shit like pump Dogecoin though. Maybe it’s just for the thrill of scamming people.

this post was submitted on 01 Feb 2024

478 points (98.2% liked)

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