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On Monday, Donald Trump’s lawyers revealed in a legal filing that Trump had failed to secure the $464 million appeals bond he needs to avoid paying the half-billion-dollar penalty as he appeals the New York civil fraud judgment against him. Securing the bond was a “practical impossibility,” they wrote, adding that about 30 different bond companies turned down the former commander-in-chief's request, in part because very few will consider “a bond of anything approaching that magnitude” and the rest will not accept “hard assets such as real estate as collateral.” <br/><br/>Trump is now asking the five-judge appeals court panel to pause enforcement of the civil judgment or to lower the bond amount to $100 million while the appeals court hears his case.<br/><br/>Read the full story on Forbes: https://www.forbes.com/sites/johnhyatt/2024/03/21/why-seizing-trumps-assets-wont-be-quick-or-easy/?sh=70b476f3639c<br/><br/>Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1<br/><br/>Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:<br/><br/>https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript<br/><br/>Stay Connected<br/>Forbes newsletters: https://newsletters.editorial.forbes.com<br/>Forbes on Facebook: http://fb.com/forbes<br/>Forbes Video on Twitter: http://www.twitter.com/forbes<br/>Forbes Video on Instagram: http://instagram.com/forbes<br/>More From Forbes:http://forbes.com<br/><br/>Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.
Why Seizing Trump's Assets, Like Trump Tower, Won't Be Quick Or Easy
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Former President Donald Trump will not have to immediately post a bond for more than $454 million in the civil fraud case against him and his company, an appeals court said Monday, ruling that Trump can delay payment of the full bond while he appeals the ruling as long as he posts a partial $175 million bond within 10 days. The former president could turn to his many rich friends, but none have evidently come to his rescue so far. There are also his wealthy family members: the Kushners. <br/><br/>In 2017, Forbes estimated the net worth of his son-in-law Jared Kushner’s family at $1.8 billion, including $1.1 billion in real estate and $200 million in cash and liquid assets. If that cash appreciated at the same rate as the S&P 500, it would now be worth around $380 million—still not enough to bail out Trump.<br/><br/>Read the full story on Forbes: https://www.forbes.com/sites/giacomotognini/2024/03/22/heres-why-the-kushners-are-unlikely-to-help-pay-trumps-bond/?sh=2c6c8f6d1f6c<br/><br/>Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1<br/><br/>Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:<br/><br/>https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript<br/><br/>Stay Connected<br/>Forbes newsletters: https://newsletters.editorial.forbes.com<br/>Forbes on Facebook: http://fb.com/forbes<br/>Forbes Video on Twitter: http://www.twitter.com/forbes<br/>Forbes Video on Instagram: http://instagram.com/forbes<br/>More From Forbes:http://forbes.com<br/><br/>Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.
Here's Why The Kushners Are Unlikely To Help Pay Trump's Bond
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Donald Trump is facing a cash crunch. He admitted in a court filing on Monday that he does not have enough cash and cannot secure a bond to cover the more than $457 million he owes to New York state after being found liable in a civil fraud case. And his team has reportedly not ruled out declaring bankruptcy via certain entities.<br/><br/>If any of Trump’s companies were to declare bankruptcy, it seems most likely that it would be one tied to 40 Wall Street, his troubled skyscraper in downtown Manhattan. The building looks glamorous–ascending 63 stories above the Financial District, with a copper crown on top–but its finances are not pretty. That fact may not have been clear to New York Attorney General Letitia James when she spoke with ABC News in February about preparing to seize Trump’s assets if he didn’t pay in full. “I look at 40 Wall Street each and every day,” James reportedly said, of the building Trump has run since 1995.<br/><br/>The former president’s debt at the property totals roughly $120 million, and the loan matures in 2025. That means Trump will need to find a new lender or come up with the cash to pay it off at some point next year, shortly after he figures out some way to get his hands on the roughly $540 million he owes in fines and interest resulting from three civil lawsuits.<br/><br/>Read the full story on Forbes: https://www.forbes.com/sites/zacheverson/2024/03/21/heres-the-trump-building-most-likely-to-go-bankrupt/?sh=754e65d13e04<br/><br/>Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1<br/><br/>Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:<br/><br/>https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript<br/><br/>Stay Connected<br/>Forbes newsletters: https://newsletters.editorial.forbes.com<br/>Forbes on Facebook: http://fb.com/forbes<br/>Forbes Video on Twitter: http://www.twitter.com/forbes<br/>Forbes Video on Instagram: http://instagram.com/forbes<br/>More From Forbes:http://forbes.com<br/><br/>Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.
Why Donald Trump's 40 Wall Street Was Struggling Even Before His Legal Woes
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When meeting the mushroom priest of San Francisco, one must first pass two armed guards wearing bulletproof vests and then clear a metal detector. “There was a stabbing right outside this door the other week,” says Pastor Dave Hodges, the 42-year-old founder and leader of the Church of Ambrosia, which he describes as a non-denominational religious organization founded on the belief that cannabis and psilocybin mushrooms are sacraments that can be used as spiritual tools.<br/><br/>Founded five years ago in Oakland, Hodges recently opened the church’s second location in San Francisco’s SoMa neighborhood. “You see people smoking crack and shooting up, people overdosing,” Hodges says, explaining how his city is rife with crime and other street plagues. “You can see why we’re not the problem.”<br/><br/>Read the full story on Forbes: https://www.forbes.com/sites/willyakowicz/2024/03/17/david-hodges-magic-mushroom-church-oakland-zide-door/?sh=45e7dd2e1cfc<br/><br/>Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1<br/><br/>Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:<br/><br/>https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript<br/><br/>Stay Connected<br/>Forbes newsletters: https://newsletters.editorial.forbes.com<br/>Forbes on Facebook: http://fb.com/forbes<br/>Forbes Video on Twitter: http://www.twitter.com/forbes<br/>Forbes Video on Instagram: http://instagram.com/forbes<br/>More From Forbes:http://forbes.com<br/><br/>Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.
America’s Largest Megachurch—Where Shrooms Are A Sacrament—Makes Millions
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