Article Summary –
Former President Donald Trump has spent over $100 million on legal costs since leaving office, funded almost entirely by donations. These costs were associated with various investigations, indictments, and upcoming criminal trials. It is projected that the fund paying for these legal bills will likely run out by summer, at which point Trump will need to decide how to finance his ongoing legal expenses.
Trump’s Legal Expenses Surpass $100 Million Since Leaving Office
Ex-President Donald J. Trump has expended over $100 million on attorneys and other expenses to repel investigations, indictments, and impending criminal trials since his departure from office, according to a review of federal records. This staggering amount suggests that Mr. Trump has spent in excess of $90,000 per day in legal-related costs for over three years, paid entirely by donations, not his own money.
These donations were primarily made in an effort to contest the outcome of the 2020 election. However, these funds are nearly exhausted, leaving Mr. Trump with a decision: start paying his own hefty legal fees or find an alternate financing method.
From November 2020 to Early 2021
Following the 2020 election, Mr. Trump raised an impressive $254 million online from November 4, 2020, to President Biden’s inauguration on January 20, 2021. This was achieved by urging supporters to contribute to an “election defense fund.” The funds came in so rapidly that Mr. Trump formed a new political action committee, Save America, to manage the cash. Surprisingly, only a fraction of the money was spent on recounts and other legal challenges to the election. A portion of it went towards Mr. Trump’s legal fees during his second impeachment, relating to the January 6 riot.
Rest of 2021 and 2022
In 2021, Mr. Trump began utilizing these funds to finance his post-presidential political operation and his ever-expanding legal teams. By the end of 2021, Save America held a large portion of Mr. Trump’s fund-raising: $105 million. Both Save America and Mr. Trump’s renamed “MAGA PAC” spent significantly in 2022 on legal bills and other related expenses as Mr. Trump’s legal fees escalated. For the year, Mr. Trump spent about $27.2 million on legal-related costs.
2023
Mr. Trump began 2023 with $18.3 million in Save America. However, his legal expenses were about to skyrocket following several indictments. In response, Mr. Trump increased the portion of online donations going to Save America from one cent of every dollar to 10 percent. But this was still insufficient. By June 2023, Save America had less than $4 million available. In a rare move, Mr. Trump requested a refund from his super PAC of the $60 million he had donated just months earlier.
2024
As a New York case tied to hush-money payments to a porn star in 2016 looms, Mr. Trump’s legal costs continue to rise. He spent at least $9.7 million in January and February. To cover the ongoing legal expenditure, his super PAC refunded an additional $10 million. However, there is only $7.75 million left to refund. Save America had less than $4 million at the end of February, including unpaid debts. With the funds set to deplete by summer at the current rate, Mr. Trump faces a crucial decision about financing his legal bills.
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