How Financial Issues of Trump Might Impact the 2024 Election
TL/DR –
The IPO of Truth Social, Donald Trump’s meme stock, is predicted to increase Trump’s net worth by several billion dollars, but a lot of that money will be tied up in uncertain equities, making it difficult for him to utilize these funds for his campaign. Trump currently has roughly a third of the cash on hand compared to President Biden, who is due to receive an additional $25 million from a fundraiser in New York this week. Trump’s fundraising efforts have been hindered by his enormous legal bills, which have reportedly exceeded $100 million since he left office.
Jon Lieber Analyzes Impact of Trump’s Fluctuating Worth on US Politics
Jon Lieber, Eurasia Group\’s foremost expert on Washington DC political developments, provides insights into US politics. The significant event this week revolves around Trump\’s finances.
The market is in a frenzy as ‘Truth Social’, a hotly anticipated IPO from Trump, takes off. The valuation has been erratic during its initial trading days. Regardless, Trump\’s wealth could grow by billions, locked in volatile equities, impeding access for campaigning purposes.
Biden Holds Financial Advantage Over Trump
Currently, Trump has about a third of Biden\’s campaign finances. Biden is set to further increase this gap through a $25 million fundraiser in New York. While Trump has always been adept at leveraging earned media for campaign purposes, having ample funds remains beneficial in US politics.
Legal Bills Hamper Trump’s Fundraising Activities
The former President’s fundraising attempts are impeded by the enormous legal expenses he needs to cover. The New York Times reports these costs to exceed $100 million post-presidency. Some of these bills are being paid using campaign finances and business resources, but this might prove challenging moving forward due to a recent decision in New York.
Money: The Potential Defining Factor of 2024 Election
As it stands, the narrative for the 2024 election could be shaped by campaign finances. If this holds true, Biden’s financial advantage and Trump’s financial struggles could be pivotal.
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