According to a report from Intelligencer's Eve Peyser, former president Donald Trump is juggling a multitude of schemes to raise much-needed cash since leaving office with a mountain of debt looming in his very near future.
A report from Bloomberg (subscription required) in July stated that "The Trump Organization has more than $590 million of debt coming due within the next four years with more than half personally guaranteed by Trump. This includes $100 million on Trump Tower in Manhattan maturing next year and $125 million due in 2023 for the Trump Doral golf resort near Miami," and that the former president is unlikely to find a financial partner willing to help him refinance his debt load.
As Peyser notes, Trump has been keeping busy creating cash streams that could help him lighten his load -- many involving raising funds from his rabid supporters.
"Trump is still soliciting political donations, although it's unclear what he needs the money for," she wrote, pointing to his "Save America Joint Fundraising Committee" website that allows donations and automatically enrolls the contributor into a recurring donation loop, despite reports that the campaign has been forced to refund over $122 million to those "who unwittingly checked the box."
"Whatever Trump is up to, it seems to be working; as of last month, he had a war chest of more than $100 million," Peyser wrote. "Financial Times reported that this money was raised via multiple fundraising vehicles, 'some left over from his 2020 presidential campaign, others newly launched, making it difficult to keep track of the money Trump has raised and what he is able to use it for.'"
The former president is also accused of "some of that donor money back into his businesses, and he's encouraged his Republican pals to do the same."
"The Make America Great Again PAC has been paying $40,000 per month to rent office space at Trump Tower, and another $8,000 for accommodations at Trump-owned hotels. PACs run by the Republican National Committee are also dropping big bucks at Trump properties; they spent $176,000 at Mar-a-Lago for a GOP donor retreat this spring," the report states, while adding that he is also raking in cash from the U.S. government by charging excessive rates for housing his government-provided security detail to the tune of $396.15 a night when they stay at Mar-a-Lago.
Add to that, the former president is also in the process of dumping assets, with Peyser listing off: "His Washington, D.C. hotel, which became a hotspot for conservatives during his presidency, for $500 million. A 'fixer-upper mansion' near Mar-a-Lago for $49 million. One of his personal helicopters, a 1990 Sikorsky S76-B, for an estimated $1 million and A lavish estate on St. Martin for $16.9 million, which is $11 million less than his initial asking price."
The columnist adds, "Despite the discounted asking price for the St. Martins estate, Trump has been struggling to find a buyer."
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