Topline

Former President Donald Trump’s scramble to cover millions in legal fines could start to come to a head next week, as the ex-president has only until next weekend to pay the $83.3 million verdict in E. Jean Carroll’s defamation lawsuit unless a court rules otherwise—and Carroll expressed “very serious concerns” Thursday about Trump’s ability to pay.

Key Facts

Crucial Quote

Trump’s filing asking to pause the monetary judgment “simply asks the Court to ‘trust me’ and offers, in a case with an $83.3 million judgment against him, the court filing equivalent of a paper napkin; signed by the least trustworthy of borrowers,” Carroll’s attorneys wrote.

Chief Critic

Trump’s attorneys argued “there is no cognizable risk” of Trump not paying the judgment against him, noting Carroll has previously “concede[d] that President Trump’s resources suffice to satisfy the judgment.” “Having argued to the jury that President Trump has great financial resources, Plaintiff is in no position to contradict herself now and contend that she requires the protection of a bond during the brief period while post-trial motions are pending,” Trump’s lawyers claimed.

Forbes Valuation

Forbes estimates Trump’s net worth at $2.6 billion as of September. That includes just over $400 million in cash and liquid assets—enough to cover Carroll’s judgment alone, but not his total legal fines when combined with his judgment in the fraud case.

How Will Trump Pay?

It remains to be seen how Trump will cover the legal fines he owes—which total some $540 million and counting, between his fraud fine, the $83.3 million and a separate $5 million judgment from Carroll’s first trial against Trump, which has already been deposited into a court-controlled account. While Trump doesn’t have enough cash on hand to cover the costs, he does have several options, including borrowing against his assets, seeking help from wealthy friends or borrowing from financial institutions, which is now easier after a New York appeals court paused a penalty in his fraud judgment that barred Trump from seeking loans from New York-registered institutions. He could also put up some of his real estate assets for sale, his attorneys suggested in a filing in the fraud case. While the Carroll payment is coming due in a matter of days, the ex-president has a bit more time to put up the fraud ruling cash, as the New York Attorney General’s office, which brought the case, isn’t expected to start enforcing the judgment unless he hasn’t paid by March 25. Trump has similarly asked an appeals court to pause the judgment against him in that case—or post a $100 million bond—and while the court rejected his request on Wednesday to pause the monetary judgment while it considers the motion, it still has to issue a more lasting ruling.

Key Background

Carroll sued Trump in 2019 after she publicly accused him of sexual assault, alleging the then-president raped her in a Bergdorf Goodman dressing room in the 1990s. Trump attacked Carroll in response, denying her account and claiming she isn’t “my type,” leading the writer to sue him for defamation. Trump’s reaction to her allegations caused Carroll “emotional pain and suffering at the hands of the man who raped her, as well as injury to her reputation, honor and dignity,” she alleged in the lawsuit. The case got stalled in court for years as Trump tried to dismiss the charges, and Carroll brought a second lawsuit against the ex-president alleging defamation and sexual assault under New York’s Adult Survivors Act. That case ended up going to trial first, resulting in Trump being found liable for defamation and sexual assault, but not rape. Because Trump had already been found liable in the first trial—based on substantially similar comments to the 2019 lawsuit—the second Carroll trial was only to determine how much Trump had to pay in damages. The jury ruled in January that Trump had to pay $18.3 million in compensatory damages and $65 million in punitive damages, which are meant to dissuade Trump from further defaming Carroll.

Further Reading

MORE FROM FORBESTrump Must Pay E. Jean Carroll $83 Million For Defamation, Jury RulesBy Alison Durkee

MORE FROM FORBESHere Are Trump’s Most Valuable PropertiesBy Alison Durkee
MORE FROM FORBESHere’s Why Trump Won’t Have To Sell Any Buildings To Come Up With $540 MillionBy Kyle Mullins
MORE FROM FORBESHere’s Who Could Loan Trump $540 MillionBy John Hyatt