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Home»Business
Business

Billionaires’ Contributions to Cover Trump’s Personal Legal Fees

July 29, 2024No Comments3 Mins Read
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Former president Donald Trump, who has faced legal challenges and felony charges, has recently seen some success in the courts. The Supreme Court has granted him some immunity from criminal charges, his case over classified documents was dismissed, his sentencing in New York has been delayed, and federal charges in Georgia are on hold. However, these legal wins have come at a cost, with the former president accumulating millions of dollars in legal fees. His Save America PAC, which has been funding his legal battles, is low on funds with debts to his attorneys and limited cash on hand.

The Save America PAC was initially formed to finance Trump’s post-election lawsuits and was well-funded. It lent $60 million to another Trump PAC, Make America Great Again, Inc., before requesting repayment as Trump faced new legal challenges. Monthly refund checks from the Trump campaign, amounting to approximately $5 million each, have helped keep the PAC afloat. However, with these refund checks ceasing after April, the PAC is struggling to cover Trump’s mounting legal bills. Additionally, the PAC no longer benefits from small-dollar donations made to the Trump campaign, as fundraising efforts have shifted to benefit the Trump National Committee.

To address the financial challenges facing his legal fund, Trump has been focusing on courting donors for his Trump 47 Joint Fundraising Committee, which collects larger donations for his presidential campaign. The committee prioritizes funding Trump’s legal bills over contributions to the Republican National Committee. Donors giving at least $11,600 are supporting the ex-president’s legal fund, including billionaire backers like Miriam Adelson, John Catsimatidis, and Paul Singer. With more than 1,100 donors contributing $11,600 or more between April and June, Save America is expected to receive a significant influx of funds to sustain Trump’s legal battles.

While this new stream of donations will help alleviate Save America’s financial strain, it may not be sufficient to cover Trump’s attorney fees in the coming months. The PAC has been spending millions of dollars each month on legal expenses, and Trump’s legal bills show no signs of slowing down. With the existing donors maxed out in their contributions to the Trump 47 Committee this year, Trump will need to continue seeking support from new wealthy benefactors to maintain his legal fund. Despite the financial challenges, the former president remains focused on funding his legal battles and is reliant on the generosity of his supporters to sustain his legal defense.

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