Donald Trump Sells Private Jet to Republican Donor Amidst Burgeoning Legal Troubles

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ICARO Media Group
Politics
28/05/2024 21h00

In a move to ease his mounting legal burdens, former US President Donald Trump has sold one of his two private jets to a major Republican donor. According to Federal Aviation Administration (FAA) records, ownership of the 1997 Cessna Citation X was transferred on May 13th, however, the sale price remains undisclosed. Private aviation company evoJets estimates the value of a Citation X to be around $8.5 million to $10 million.

The recipient of the jet, whose identity has been revealed as major Republican donor Moayedi, donated nearly $250,000 to Trump's re-election campaign in 2019 and 2020. FEC records also show that Moayedi has made significant contributions to other campaigns, including those of Ted Cruz's Senate re-election bid and the Republican National Committee.

Trump's website still touts the now-sold Cessna Citation X as a "rocket in the sky" that provides access to smaller airports. However, Trump still maintains ownership of his iconic Boeing 757, adorned with his name, in addition to a small fleet of helicopters.

The proceeds from the jet's sale are expected to aid Trump in tackling the substantial court fines he currently faces. Earlier this year, Trump paid out over $200 million in fines stemming from two civil cases. The first case involved a defamation charge filed by writer E Jean Carroll, resulting in a $83.3 million settlement. The second case, a civil fraud trial, ended in a staggering $454 million penalty.

A Manhattan appeals court recently permitted Trump to pay a reduced amount of $175 million for the fraud case while it is under appeal. Trump has disclosed having approximately $500 million in cash, with the remainder of his assets tied up in real estate holdings.

Despite being able to cover appeals bonds for these cases, Trump is still ensnared in a web of legal troubles. He currently faces a criminal trial for allegedly concealing hush-money payments during the 2016 election and is embroiled in three other criminal trials. A total of 88 criminal charges loom over the former president, leading to substantial legal fees.

According to reports, Trump has already expended over $100 million in legal fees for his ongoing court battles. While he has mainly relied on political action committee (PAC) donations to finance these expenses, funds are depleting rapidly, and his legal bills continue to accumulate. Trump may tap into his 2024 campaign funds to cover legal fees, but doing so could impact his ability to allocate resources for potential voter sway.

As Trump navigates a complex legal landscape, the sale of his private jet to a Republican donor provides him with some additional financial relief. However, with multiple trials on the horizon and a barrage of legal fees, the former president is far from emerging unscathed from these legal entanglements.

The views expressed in this article do not reflect the opinion of ICARO, or any of its affiliates.

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