A deadline day that puts Trump’s empire in grave peril

A deadline day that puts Trump’s empire in grave peril

Donald Trump’s tumultuous life has been rocked by bankruptcies, personal scandals, impeachments and election wins and losses, but nothing quite compares to the personal and financial crisis facing the once-and-possibly future president this week.

Trump is struggling to post a bond worth around half a billion dollars on Monday to stop the state of New York from targeting his assets following a huge fraud judgment. The situation he finds himself in threatens the empire that conjured the tycoon’s aura and assumptions of massive wealth that are critical to his self-identity and political brand.

But exemplifying the roller-coaster nature of his public career, Trump is also soon poised for a massive financial windfall. A deal to take his media company public promises to add about $3 billion to his net wealth – even if it won’t ease his cash crunch in the short term.

That’s not all. Trump may find out Monday when he wil become the first ex-president to go on trial, as the judge hearing a Manhattan hush money case holds a critical hearing. The case, related to payment to an adult film star ahead of the 2016 election, could lead to Trump being a convicted felon by November’s election.

All of this is unfolding as he battles on multiple fronts to delay and discredit three other criminal trials, all in which he’s pleaded not guilty. He nonetheless has cemented his dominance over the Republican Party and leads President Joe Biden in some swing-state polls as he attempts the most stunning comeback in political history after he left office in disgrace after trying to steal the 2020 election.

It’s an extraordinary collision between Trump’s personal, legal and political controversies, all of which reflect the contradictions of a unique figure who has repeatedly flirted with financial ruin and tested the law but who has an uncanny capacity to dodge, or at least delay, accountability.

Since Trump swept aside all opposition in his triumphant sprint to his third-straight Republican nomination and has a strong chance of being the 47th president, his fortunes and fate are yet again inextricably entangled with the nation’s in a turbulent political era.                                                                                                                                                                                                                                                                          Trump’s empire is on shaky ground              

The ex-president’s most immediate threat lies in the need to post bond worth $464 million, including interest, after he, his adult sons and the Trump Organization were found to have committed massive fraud by a judge after a civil trial. The payment is needed to allow Trump time to appeal and to head off a threat by New York Attorney General Letitia James to start going after his assets and property empire if he cannot pay up.

The saga has been a humiliating one for the ex-president since it raises questions about his claims to a huge fortune. Trump’s lawyers have asked the appeals court judges to reduce or delay the judgment for ill-gotten gains, but they are yet to rule. His legal team said last week the bond amount was a “practical impossibility” for Trump, whose wealth is tied up in skyscrapers and golf resorts. And more than 30 insurance firms declined to underwrite the bond.