Ex-US President and well-known billionaire Donald Trump is running out of cash for legal fees. Curiously, being sued according to several criminal cases at a time, he had to spend tens of millions of dollars on consulting and other legal bills.
Referring to Trump’s financial records, Bloomberg reported that the billionaire admitted a severe shortage of funds due to legal expenses.
According to recent estimates, Donald Trump allocated $4.9 million for legal fees in March 2024. As of today, no more than $6.8 million is left on his accounts used by the billionaire to pay his lawyers. Bloomberg experts reckon that piling up legal debt could entail financial troubles.
Interestingly, the politician accumulated the funds for legal bills from a particular source, the Save America committee. This organization receives donations from anyone concerned and fans of the ex-president. Donald Trump may earmark funds from his capital or any cash attracted to cover legal expenses. Earlier, the Republican National Committee refused to pay for his legal bills.
The Financial Times periodical estimates that Trump’s spending on legal fees accounts for almost 25% of all money donated to his election campaign. The money collected at fundraising events amounts to $76 million.