Former US president Donald Trump might be arrested this week, risking his political campaign and net worth. Here’s the full story.
Multi-billionaire and former US president Donald Trump might be arrested on Tuesday following penal charges. Were that to happen, it would be the first US president to face jail time, though it is considered highly unlikely. What would happen, however, to his massive net worth?
Donald Trump has always been a wealthy person. He was born in an extremely rich family: Donald’s father Fred was a billionaire entrepreneur and investor. Indeed, thanks to a loophole in the American tax system, Fred funneled tons of shares into Donald’s account, making him a millionaire at the age of eight.
When he grew up, Donald tried to increase his fortune even more. Though some of his early businesses were complete failures, his net worth today amounts to $3.3 billion.
In 2016, Donald Trump went against Hillary Clinton as US presidential candidate, winning the elections. He would however lose the top spot in 2020 to current US president Joe Biden.
This has not stopped Trump from trying again, however, as he’s an official Republican candidate for the 2024 elections.
Since he lost the elections in 2020, however, a series of legal allegations might bring him to jail. Specifically, his affair with pornstar Stormy Daniels might actually see him behind bars as early as this week.
What would happen then? Could he still run for president? Would he lose his net worth?
A short briefing
The entire Stormy Daniels affair is linked to Donald Trump’s management of campaign funds. According to the prosecution, Trump used public campaign funds to pay Stormy Daniels for her silence during the 2016 campaign.
Daniels blackmailed Trump by threatening to make their relationship public, which would have virtually ended his campaign. Therefore, Trump allegedly used $130.000 of campaign money to accept Daniels’ blackmail.
Now, the New York prosecutor must decide if this behavior by Trump is a felony or a simple misdemeanor. In the latter case, Trump will simply pay a (large) fine to the federal government and simply move on. He would still be able to run for president in 2024 if that were the case.
If, on the other hand, the prosecutor decides that Trump committed a felony, the former US president would have to surrender himself to authorities. He would then be escorted to jail and eventually face trial. Trump risks up to 4 years behind bars, according to the US criminal law.
Though highly unlikely that he will actually be arrested, this could actually end Trump’s campaign for good. Further, some of his assets might be seized to pay for the fine.
Considering that Trump is also charged with other allegations, some even concerning his tax records, he might actually have to cut into his net worth.
In short, Donald Trump might lose both the presidency and at least part of his net worth. This would put a definite end to Trump’s public image.
