Topline
Former President Donald Trump posted a $91.6 million bond Friday as he appeals his loss in writer E. Jean Carroll’s defamation case against him, guaranteeing his ability to pay what’s ultimately only a fraction of his total legal fees as the ex-president has faced a series of major court judgments.
Former President Donald Trump arrives for an election-night watch party at Mar-a-Lago on March 5 in ... [+]
Timeline
$382,000: Trump was ordered to pay £300,000 in legal fines after losing a lawsuit brought against Steele and his company Orbis Business Intelligence in the U.K. over the controversial dossier alleging Trump conspired with Russia to win the 2016 election.
$454.2 million: New York Judge Arthur Engoron ordered Trump and companies he controls to pay nearly a half-billion in penalties and pre-judgment interest for fraudulently misstating the value of assets on financial statements—an amount that will continue to accrue significant interest—part of a broader $465 million judgment that also includes fines for his sons Eric and Donald Trump, Jr., and ex-Trump Organization CFO Allen Weisselberg.
$83.3 million: A jury ordered Trump to pay damages to writer E. Jean Carroll for defamation, after he attacked her and said she wasn’t “my type” when she accused him of sexually assaulting her in the 1990s; on March 8, Trump posted a $96.1 million bond to cover the judgment plus interest as he appeals just days before a 30-day deadline.
$392,638: Trump was ordered to pay nearly $400,000 in legal fees to The New York Times after a court tossed his lawsuit taking issue with the newspaper acquiring and publishing his tax records, which the Times said in February Trump has now paid.
$5 million: A different jury ordered Trump to pay Carroll $5 million in a separate trial, which found him liable for sexual assault and defamation—but not rape; he has paid the amount into a court-controlled account while he appeals the verdict.
$937,989.39: Trump and his attorney Alina Habba were jointly ordered to pay nearly a million dollars in sanctions over the ex-president’s lawsuit against Hillary Clinton and other Democrats, which a judge ruled was “inadequate in nearly every respect” and “unsupported by any legal authority”—Habba has said the fine has been paid, though Trump is appealing the case.
What To Watch For
Though the Carroll payment is now out of the way, Trump still faces a scramble to pay the largest fine against him in the civil fraud case. As with the Carroll case, he must pay the fine into a court-controlled account or post an appeals bond that guarantees his ability to pay, even as he appeals the judgment. New York Attorney General Letitia James, who brought the fraud lawsuit, is expected to start enforcing the $454 million Trump owes—including by possibly seizing his buildings—if Trump hasn’t paid that fine by March 25.
What We Don’t Know
How much more Trump will have to pay in legal fines. The former president still faces other civil cases that could result in penalties, most notably several lawsuits brought by lawmakers and Capitol police officers that are moving together in court seeking to hold Trump liable for the Jan. 6, 2021, riot at the Capitol building. He also has been indicted four times on criminal charges in state and federal courts, and the charges against him all could result in hefty fines—as well as prison time—if he’s convicted. Trump could have to pay $11.2 million in his criminal cases if he were convicted on every charge against him and sentenced to pay the maximum fine.
Forbes Valuation
Forbes estimates Trump has $413 million in cash and liquid assets as of March—part of an overall $2.6 billion estimated net worth—which is not enough to cover the full amount he owes in the fraud case. It remains to be seen how Trump will pay the fines or secure a bond for what he owes in the fraud case, whether that’s through borrowing against or selling his properties, seeking help from wealthy friends or obtaining loans through financial institutions. Insurance company Chubb underwrote his bond in the Carroll case, CNN reports, which only covers the $83.3 million judgment and not any future appeals.
Surprising Fact
The $382,000 Trump has to pay in the Steele case is significantly less than the interest Trump accrues in the New York civil fraud case even over the course of a week, as the ex-president’s total amount owed in that case goes up by more than $111,000 per day based on a nine percent annual interest rate.
Chief Critic
Trump has strongly opposed the judgments against him and has decried the legal cases against him as “witch hunts” designed to hurt his presidential campaign. The former president’s attorneys have called the Carroll judgment “grossly excessive” and sought to have it reduced or thrown out, and Habba said the fraud ruling was a “manifest injustice, plain and simple.”
Key Background
Trump’s legal fines come on top of other significant fees the ex-president has racked up as a result of his ongoing legal issues, as his attorneys have commanded millions of dollars in fees for defending him. Trump’s attorneys fees have largely been paid through his Save America PAC, with Federal Election Commission filings showing he paid nearly $40 million between his first indictment on March 30, 2023, and the end of last year alone. That includes attorneys fees in cases that aren’t related to the 2024 election, as FEC filings show his PAC has been used to also pay fees in the fraud case—including paying an expert witness who testified at trial—and the British law firm representing him in the Steele case, among other lawsuits.
Tangent
Trump’s use of campaign funds on his personal legal fees is a legal gray area, former FEC counsel Dan Weiner told Forbes in February, though Trump is unlikely to face repercussions. Whether Trump will try to use Save America funds to pay his significant legal penalties remain to be seen—though Weiner said he “do[esn’t] think it’s legal”—but he won’t be able to pay off a significant amount through the PAC, as it only had $5.1 million in cash going into 2024.
