ExplainerTrump’s legal debts are more than a half-billion US dollars. Will he have to pay?
- Between Friday’s ruling and the two judgments in E. Jean Carroll’s case, Trump would be on the hook for about US$542 million in legal judgments
- Trump would still be liable to pay even if the Trump Organization declares bankruptcy. If he personally declared bankruptcy, judgment against him would be paused
A New York judge ordered Trump and his companies on Friday to pay US$355 million in fines, plus interest, after ruling he had manipulated his net worth in financial statements.
The stiff penalty comes just weeks after Trump was ordered to pay US$83.3 million to the writer E. Jean Carroll for damaging her reputation after she accused him of sexual assault. A separate jury last year awarded Carroll US$5 million from Trump for sexual abuse and defamation.
Add interest payments on top of that, and the judgments could deal a staggering blow to the personal fortune that remains core to Trump’s political appeal. He has adamantly denied wrongdoing and pledged to appeal, a process that could take months or even years.
In the meantime, here’s what we know about what Trump owes, whether he’ll have to pay up, and what comes next:
How much money does Trump owe?
The verdict in the civil fraud trial requires Trump to pay interest on some of the deal profits he has been ordered to give up. New York Attorney General Letitia James, who brought the case, said the interest payments totalled US$99 million and would “continue to increase every single day until it is paid.”