Trump must pay millions in compensation to author E. Jean Carroll. He may have to sell some assets to do this.
He won’t go bankrupt. He doesn’t have to go to prison either. But the punishment hits Donald Trump where it hurts him the most, when it comes to money. Last week, a civil court in New York ruled that Trump must pay $83.3 million in compensation to author E. Jean Carroll. He was found guilty of sexual assault in May 2023, but continued to slander his victim after the verdict.
He may have to sell some assets to do this. He recently sold his hotel in Washington for $131 million as well as his golf course in New York. These are parts of his company, the Trump Organization. In the past, Trump was happy to pay his lawyers through donations, but if things get tight, he may have to sell one of his properties. Trump does not publish how highly they are valued. He likes to describe himself as a man who is much richer than expected.
Things could soon get even worse for Trump
In the past, he boasted of a net worth of more than ten billion dollars and that he had 400 million in cash on hand. Trump does not have to pay the 83.3 million immediately because he is appealing. However, he must deposit it with the court. Things could soon get even worse for the presumptive Republican presidential nominee. The next verdict is announced in New York, this time for financial fraud by his company. Prosecutors have demanded a penalty of $370 million.
I have been working in the news industry for over 6 years, first as a reporter and now as an editor. I have covered politics extensively, and my work has appeared in major newspapers and online news outlets around the world. In addition to my writing, I also contribute regularly to 24 Hours World.