Former US President Donald Trump has disclosed over $100 million in liabilities from ongoing legal battles, according to new financial disclosure forms released on Thursday. The former president, who is required to file annual financial disclosures detailing income, investments, assets, and debts, faces significant financial obligations due to three high-profile lawsuits.
Trump’s financial disclosures reveal that despite his extensive asset portfolio, including earnings from branded merchandise and cryptocurrency holdings, he is contending with substantial legal liabilities. Among his reported assets, Trump has made $300,000 from sales of his branded Bible, known as “The Greenwood Bible.” This product, a collaboration with country music artist Lee Greenwood, is available for $59.99 on Greenwood’s website. The Bible, named “God Bless the USA Bible” in honor of Greenwood’s famous song, reflects Trump’s foray into branded religious merchandise.
Additionally, Trump has earned $4.5 million in royalties from his book “Letters to Trump,” which features correspondence between him and various celebrities. He also received $500,000 from the sale of his book “A MAGA Journey.”
In a surprising turn, Trump now holds between $1 million and $5 million in cryptocurrency investments, despite previously labeling digital currencies as a “scam.” His recent endorsement of Bitcoin, articulated at the Bitcoin 2024 conference, marks a notable shift in his stance on cryptocurrencies. Trump asserted that the current US government’s policies pose a greater threat to the dollar than Bitcoin does.
However, Trump’s financial disclosures also reveal significant liabilities. These include three major legal obligations stemming from ongoing court cases:
$1M-$5M Liability: This amount is owed to writer and columnist E. Jean Carroll, who has filed defamation suits against Trump. Carroll alleges that Trump sexually assaulted her in a department store dressing room, and a judge ruled that Trump defamed her by dismissing her accusations as false.
$50M Liability: This substantial amount is also related to E. Jean Carroll’s claims, reflecting the financial impact of the defamation ruling against Trump.
$50M+ Liability: Trump faces this liability in a civil fraud case brought by New York Attorney General Letitia James. The case alleges that Trump inflated property values fraudulently, resulting in a ruling that requires him to pay over $350 million in damages.
Trump has denied the allegations in these cases and plans to appeal the rulings.
As Trump navigates these legal challenges, his financial disclosures underscore a complex interplay between his business ventures, including branded bibles and cryptocurrency investments, and his significant legal liabilities.
