'He's lying': Internet mocks Donald Trump's claim of having $500M cash to spend on 2024 presidential run

MANHATTAN, NEW YORK: On Friday, March 22, former President Donald Trump declared that he possessed almost $500 million in cash, expressing his preference to spend it on his presidential campaign over paying the $454 million civil fraud judgment against him in New York.

The 77-year-old presumptive GOP nominee confirmed his intention to contest the ruling “all the way up to the US Supreme Court if necessary,” as the state prepares to potentially seize some of his assets if he fails to pay the substantial amount.

Per the Associated Press, Trump has been attempting to persuade a state appeals court to exempt him from fulfilling the prerequisite of providing financial guarantees demonstrating his financial stability while he appeals the overwhelming penalty of his civil fraud ruling.

What did Donald Trump say in his Truth Social post on Friday?

In a post on his Truth Social platform on Friday, Trump claimed he had enough money to settle the entire judgment, but he wasn't convinced he should have to spend it that way.

He stated in all caps, “Through hard work, talent, and luck, I currently have almost five hundred million dollars in cash," and added that he had intended to spend "a substantial amount" on his presidential campaign.

Trump has been asking for donations from outside sources since before he left the White House, but he has never before indicated that he would fund his own 2024 campaign.

The MAGA strongman has made claims of possessing a large sum of money without providing any supporting documentation.

In response, his legal representatives have suggested that tying up such a substantial amount in a bond is impossible while also managing the day-to-day operations of his businesses and meeting other obligations.

Financial records indicate that one of his property loans stipulates a minimum liquidity of $30 million as a condition.

In February, a judge in Manhattan concluded that the former POTUS had made multiple false statements about his wealth on financial documents that he provided to banks and other entities to secure loans and seal deals.

The judge subsequently ordered the Republican presidential candidate to relinquish profits earned from certain real estate transactions and the money saved by obtaining lower interest rates on loans.

Trump has denied any wrongdoing on his part.

As recently as Thursday, Trump’s attorneys reiterated their struggle to obtain a bond that would cover the judgment.

Over 30 insurance companies have declined their requests, citing the need for cash, stocks, or other liquid assets as collateral instead of real estate.

His legal counsel has appealed to the state's intermediate appeals court to reverse the previous judgment requiring the real estate tycoon to post a bond covering the entire amount to stall enforcement.

New York Attorney General, Letitia James, has opposed Trump's request, urging the appeals court to demand the full amount to ensure easy access to the money if the verdict is upheld.

Trump’s legal team stated that to obtain the bond, he would have to put up 120% of the judgment, which amounts to over $557 million. The appeals court has yet to make a ruling on the matter.

Trump declared on Fox News on Friday, “I’ll fight this all the way up to the U.S. Supreme Court if necessary,” adding. “They can’t take away your property before you’ve had a chance to appeal.”

It may be subject to legal challenge in the future whether former President Donald Trump indeed possesses almost $500 million in cash, as he had claimed.

Attorney General Letitia James, who is a member of the Democratic Party, may commence with efforts to collect the legal judgment she achieved against Trump starting next week, on Monday, March 25, unless an appeals court intercedes.

Attorney General James has expressed her willingness to seize some of Trump's real estate holdings, although it is unclear how promptly this might take place.

Internet slams Donald Trump for claiming he has $500M in cash

People on X shredded the embattled former President of the United States for stating he had enough money to cover the fraud ruling but instead, he intends to utilize that for his presidential run.

One X user remarked: "World’s smallest violin . . ."

Another user said: “He's lying. Even if he wasn't, it's not up to him."

Another user wrote: "Translation… He’s broke."

One user asked: "Is that his choice? Don’t think so."

Another X user claimed: "NY State will seize it if need be."

Finally, this user tweeted: "If you believe that I have a bridge to sell you."

 

This article contains remarks made on the Internet by individual people and organizations. MEAWW cannot confirm them independently and does not support claims or opinions being made online.