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Trump faces massive fines from his court cases. Might he struggle to pay them off?

Trump faces massive fines from his court cases. Might he struggle to pay them off?

ABC News
Friday, February 16, 2024 10:42:16 AM UTC

As he awaits a decision in his fraud case, here's how Donald Trump might handle the $450 million in damages and fines he could potentially face from his civil trials.

As he awaits a decision in his New York civil fraud trial, expected Friday, former President Donald Trump faces nearly $450 million in potential damages and fines resulting from his civil trials over the last year.

Late week, the judge overseeing E. Jean Carroll's defamation case against Trump ordered Trump to pay the former Elle magazine columnist $83.3 million in damages on top of the $5 million he owes her from an earlier sexual assault trial. This week, the judge overseeing Trump's civil fraud trial is expected to issue a ruling where he could fine the president as much as $367 million plus interest for a decade of fraudulent business deals.

The costly cases shine a renewed light on the former president's finances and could call into question Trump's liquidity, as he runs headlong into multiple criminal trials and an historic presidential election this year.

While Trump's donors have largely footed the bill for his campaign expenses -- with Trump's political committee spending more than $50 million on his campaign in 2023 -- the legal cases present a stickier challenge for Trump, who has built a reputation around his wealth. Courts allow defendants multiple mechanisms to collect damages, including liens and wage garnishments, and the fines are not dischargeable through traditional protections like bankruptcy.

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