TRUMP
Can Donald Trump afford to pay the $83.3 million to E. Jean Carroll? What is his net worth in 2024?
The former president has been ordered to pay defamation damages to the writer for statements he made in 2019.
Donald Trump has been ordered to pay $83.3 million in damages to E. Jean Carroll for defamatory statements he made about the writer in 2019, disparaging her and denying her rape allegations.
The jury reached their conclusion today, Friday January 26, awarding Carroll more than eight times what she had asked for her in her lawsuit.
Can Trump afford to pay the damages? Yes, is the simple answer. The slightly more complicated answer is how difficult it will be for the 77-year-old business man and politician to produce the amount in cash, possibly requiring selling some liquid assets or getting a bank loan, though it is unlikely to prove too troublesome.
In Forbes’ latest estimation of his wealth, calculated in September, the media outlet estimates he’s worth $2.6 billion. That may be a lot less than Trump likes to boast about but it’s still a substantial fortune.
The most interesting figure in the assessment of Trump’s wealth for how easy it will be to pay the damages to E. Jean Carroll is how much he holds in cash and liquid assets. According to Forbes he has around $426 million in cash and easily converted assets, including monies from cashing out of his Washington, D.C. hotel and $162 million from refinancing a San Francisco building.
We can’t know how much Trump actually holds in cash, but it appears clear that he has the ability between his cash holdings and cashing out easily converted liquid assets to pay the $83.3 million damages, even though the damages come to around 20% of his cash and liquid assets.
Trump’s non-liquid holdings
Trump’s overall portfolio of course is heavily skewed to real estate. He’s reckoned to hold $690 million’s worth in New York, including Trump Park Avenue ($101 million), Trump Tower (net $56 million) and his 30% share of 1290 Avenue of the Americas (net $287 million). Selling real estate to pay for things like damages is time consuming, however there is always the option of borrowing against property if cash is needed quickly.
His non-New York real estate is estimated to be worth $190 million, his golf clubs and resorts some $870 million, while his social media and brand businesses are valued at $160 million.
Of course the value of real estate can fluctuate rapidly, depending on the economy and local conditions.
Trump himself admitted under oath in 2007: “My net worth fluctuates, and it goes up and down with markets and with attitudes and with feelings, even my own feelings.”
Trump to appeal in the E. Jean Carroll
Trump for his part turned to his own Truth Social platform to say he would be appealing the verdict in the Carroll case. “Absolutely ridiculous! I full disagree with both verdicts and will be appealing this whole Biden Directed Witch Hunt focused on me and the Republican Party,” the former president said.
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