For days, Donald Trump’s fury over the requirement to secure hundreds of millions of dollars in bond money by Monday has been bubbling behind the scenes and through a steady stream of social media posts.
Friday’s public barrage on his Truth Social platform, which included multiple all-caps posts, highlighted his persistent anger with the judge who handed down the $464 million judgment, the New York attorney general who brought the civil fraud case and Trump’s insistence that it’s all designed to derail his presidential campaign.
The posts, including one sent just before 2 a.m. Friday, contained a mix of invective and claims devoid of fact or evidence. (There is no evidence that the White House has played any role in the case brought by New York Attorney General Letitia James, let alone ordered her to pursue her effort. Nor is there any evidence that Trump, as he claimed, has plans to use any of his own money for his presidential campaign.)
But also embedded in the posts was a reality that has pushed Trump’s company and personal finances to the brink with just two days remaining to land a solution.
Another potential pathway that Trump allies have discussed opened up Friday when investors approved a merger that made the former president’s media enterprise, Trump Media and Technology Group, a public company. Trump’s holdings in the new company would, on their face, net him billions in stock.
But the availability of that cash from the parent company of Truth Social would be subject to a six month “lockup” period that would hamstring Trump’s ability to sell any shares or use them as collateral. The billions Trump stands to gain exist only on paper – and would be subject to the price fluctuations of the stock when it starts to trade.
Seems orange man continues to sink into the quagmire of his own making. It warms my heart to see him sliding into bankruptcy.
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