former PresidenttrumpSince leaving the White House, I have spent more than 100 million yuan on legal fees. Over the past three years, I have spent an average of more than 90,000 yuan per day to deal with various investigations, prosecutions, and upcoming criminal trials. I have not spent any money from my own pocket, but my current donation is almost empty. Trump faces a choice, whether to use his own money or find another way to pay.
The New York Times reported on the 27th that from November 4, 2020, the day after the election, to January 20, 2021bidenAfter taking office as president, Trump raised an astonishing $254 million online. His fundraising was in the name of “defending election money.” But only a fraction of that money was spent on the recount and other lawsuits challenging the election, and some was spent on his second defeat.Finding guiltyHire a lawyer; Save the rest.
Throughout the remainder of 2021, Trump used the money to transform his political operations following his presidential defeat, and ultimately hired a large number of lawyers to build a team. By the end of the year, Trump’s Save America political action committee had raised $105 million.
In 2022, two political action committees, Save America and Make America Great Again (MAGA), spent a lot of money on legal fees and other related expenses; The House of Representatives held impeachment hearings, and the FBI searched Mar-a-Lago for confidential documents in August. Trump’s legal expenses increased significantly, costing about 27.2 million yuan that year. As he prepared to announce his re-election to the presidency in 2024 at the end of the year, he faced a dilemma. Both committees could not use the money directly for the campaign, so “Save America” transferred $60 million to another pro-Trump political action committee, “Make America Great Again” (MAGA Inc.).
Save America will start 2023 with $18.3 million, but Trump’s legal expenses are set to increase significantly. In March 2023, he was tried for the first time in New York State, and was followed by a further three criminal trials. First, Trump allocated one percent of every dollar he raised to Save America, and used the rest for his 2024 re-election campaign. But when Save America ran out of money to pay lawyers, they increased it to 10 cents.
But it is still not enough. By June 2023, “Save America” will have less than 4 million yuan left. Trump has no choice but to transfer back the 60 million yuan he transferred a few months ago, and by the end of 2023, he will transfer more than 42 million yuan.
In 2024, in a case involving hush-money payments to a porn star in 2016, Trump spent 9.7 million yuan in legal expenses between January and February. Since leaving office, he has spent more than $100 million on legal expenses, not including money spent on campaigns. To pay for the subsequent legal expenses, the company “Make America Great Again” returned an additional 10 million yuan in January and February, leaving only 7.75 million yuan for turnover. “Save America” had less than 4 million yuan left at the end of February. At this rate, the money will run out by the summer and Trump will have to decide who will pay the lawyers.
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