At the current donation rate, it will take nearly six years for the GoFundMe page aimed at covering Donald Trump’s civil fraud fine to accumulate $355 million in donations.
The page, titled “Stand with Trump; Fund the $355M Unjust Judgment,” was created by Elena Cardone, the wife of real estate businessman Grant Cardone, on the same day that Judge Arthur Engoron ruled that Trump must pay approximately $355 million in penalties for fraud.
As of Friday morning, the fundraiser has garnered $1,058,227 from around 19,100 donations, one week after its launch.
If the current trend persists, it will take approximately 5.8 years for Trump to accumulate the entire $355 million fine owed, before factoring in interest.
Following a ruling from a New York court, it has been determined that Donald Trump and high-ranking executives at The Trump Organization engaged in fraud by overstating the value of his assets to secure more advantageous terms from lenders and insurers.
New York Attorney General Letitia James, who initiated the lawsuit, stated that including pre-judgment interest, the penalty exceeds $450 million—an amount that “will escalate daily” until the judgment is settled.
Trump’s legal team has announced their intention to appeal the court’s ruling.
Christopher Phelps, a professor of modern American history at the University of Nottingham in the U.K., expressed skepticism about the longevity of the fundraising campaign to Newsweek. He remarked, “This GoFundMe initiative, like many others, may experience an initial surge of enthusiasm, fueled by the unique dynamics of the current presidential climate. However, it is highly unlikely to maintain momentum over time.”
Moreover, the contribution of $1 million barely impacts Trump’s significant legal liabilities. Additionally, he faces more pressing issues, such as the 91 felony indictments, which, if leading to convictions, are likely to result in imprisonment.
On Thursday, Engoron denied a request from the defense to postpone the enforcement of penalties.
There is speculation that Trump might need to liquidate portions of his real estate holdings to settle the issued penalty in full.
However, in an interview with ABC News on Tuesday, James stated that if Trump fails to satisfy the fine, and lacks the financial means to do so, she is ready to petition a judge to “confiscate his assets.”
“We are fully prepared to ensure that the judgment is fulfilled for the benefit of New Yorkers,” James affirmed.
