Trump PAC Is Running Low On Cash As Legal Expenses Mount - Forbes

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Topline

Former President Donald Trump’s political action committee had less than $4 million in its coffers after debt at the end of last month, after spending big on Trump’s legal bills this year, according to a Federal Election Commission filing—as Trump navigates multiple civil and criminal cases against him that could incur more legal costs.

Key Facts

Save America PAC, which is paying most of Trump’s legal bills, reported just under $4.5 million in cash on hand at the end of May, after burning through tens of millions of dollars this year to help the former president with attorney fees.

The PAC’s debt, or unpaid legal bills, totaled $861,630 by the end of last month according to the filings, which were first reported by The New York Times.

Trump has spent an average of just under $5 million per month this year through his PAC, much of which has gone to legal bills, meaning by the end of last month, he barely had enough funding to take care of one month’s worth of bills, the Times noted.

Todd Blanche, the attorney representing Trump in his hush money trial, and his law firm were paid more than $1.8 million last month by the PAC, part of over $4.3 million in total spending, much of which went to lawyers, according to the FEC filing.

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Key Background

Trump’s four criminal indictments and several pricey civil cases have exacted a financial toll on the former president and 2024 hopeful—but he’s frequently relied on political action committees funded by donors to handle legal expenses. Save America spent more than $45 million on legal consulting, attorneys and other services from last March (around the time of Trump’s first indictment) to this February, Forbes has previously reported. Beyond paying his lawyers, the former president also has to tackle massive civil penalties from E. Jean Carroll’s defamation trials and his civil fraud case. Trump posted a $175 million bond to partially cover a whopping $454 million he’s been ordered to pay in his fraud case, which found he knowingly inflated the value of his assets in financial fillings.

Forbes Valuation

We estimate Trump’s net worth at about $5 billion. However, much of his wealth is tied up in real estate assets or a stake in Trump Media and Technology Group. Trump had roughly $413 million in cash and liquid assets as of March.

What To Watch For

The former president will have the option of selling shares in his media company that went public earlier this year once a lockup period ends in September. His stake in the company was worth $3.1 billion as of Thursday.