The former president of the United States, donald trumphas seen his net worth increase by 500 million dollars since leaving the White House in January 2021, according to the Billionaires Index Bloomberg. Trump’s fortune now stands at 3.1 billion dollarsin front of the 2.6 billion in 2021.
Trump’s increase in wealth is due to a number of factors, including:
- Rising housing prices in Florida, where Trump moved after leaving the White House. Trump’s properties in the state, such as Mar-a-Lago and Doralhave experienced strong revenue growth.
- The sale of his hotel in Washington, DC, for US$375 million.
- Reducing your debt.
However, Trump’s rise in wealth has not been enough to prevent him from facing a fraud lawsuit filed by New York Attorney General Letitia James. Lawsuit alleges Trump inflated the value of his assets in billions of dollars for more than a decade.
In the trial, which began MondayTrump has denied committing fraud. He has stated that the properties whose value he is accused of inflating were actually undervalued, based on the premium added by his “brand.” He has also said that banks did not rely on his statements about his financial situation when granting him loans.
The trial is expected to last several months. If James wins the case, he could force Trump to pay hundreds of millions of dollars in fines and the loss of some of its most emblematic properties.
What does Trump’s rising wealth mean for his fraud lawsuit?
Trump’s increase in wealth could be seen as a sign that he is prospering, which could weaken prosecutors’ arguments that he needed to inflate the value of his assets to obtain loans.
However, legal experts claimn that Trump’s increase in wealth is not necessarily relevant to the case. They note that James’ suit focuses on Trump’s statements about the value of his assets, not his actual wealth.
“Whether Trump is rich or poor is irrelevant to the case.“said Seth Rubenstein, an attorney specializing in corporate law. “What matters is whether he misled the banks about the value of his assets.”
What is the impact of the fraud lawsuit on Trump’s political career?
The fraud lawsuit could have a significant impact on Trump’s political career. If he loses the case, he could be forced to pay a large sum of money and could lose some of his most iconic properties.
This could weaken your public image and make it harder for you to raise money for future campaigns.
“The fraud lawsuit is a major obstacle to Trump’s political career,” said Dave Wasserman, political analyst at Cook Political Report. “If he loses the case, it will be very difficult for him to recover.”
Source: Ambito
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