Selling truth for lies. Donald Trump's true social company completing
A merger that could net him more than $3 billion
as he only has three days now left to post
that
nearly half billion dollar bond in his civil fraud case.
New York Attorney General Leticia James already taking an early
step in seizing Trump's assets if he can't make that
payment by Monday.
But earlier today the President did strike this deal,
possibly throwing him a financial life preserver.
Our Senior investigative Correspondent Erin Katersky joins me now.
So after being denied by more than what 30 underwriters,
Trump once again figures out the art of the deal.
Well, he may have. He does own a large share
of truth social,
which will now begin as soon as next week as
a publicly traded company.
Right now, the share price is about $40 a share,
and that could give Trump's stake a value of about
$3 billion.
So that's good news for him as he faces a
cash crunch in his campaign and as he faces all
of these legal.
Entanglements. The one thing, though,
Kyra He cannot monetize that stake right away absent A
waiver from the board of directors of the company that's
taking truth social public.
Now, he could ask for that waiver.
There's a lot of Trump supporters on the board,
so maybe they would grant it.
But it could also be against their financial interest,
because if Trump suddenly sells all of his shares to
raise money,
that stock price isn't going to be worth what what
it is now.
That's true. So what more do we know about Leticia
James then,
and all the steps she's taking to seize his assets?
If he does miss the Monday deadline,
she's already taken 1 preliminary step,
and that is to register the judgment against Trump.
That was that. That came down here in Manhattan with
the county clerk in Westchester,
north of New York City.
And that's a sign that she may be eyeing the
golf course you see on your screen right now in
Briarcliff Manor and also a large estate in Bedford,
NY, known as Seven Springs.
Those are among the assets that James could move to
seize if Trump fails to pay his bond.
All right. Well, what is Trump saying about how much
cash that he now has on hand and how he
plans to?
Well, I guess he was going to use it on
the presidential campaign.
So what is he going to do now?
So he claimed in a post on Truth Social that
he has $500 million in cash,
which is $100 million more than he claimed he had
during his testimony in the New York attorney general's civil
trial.
And. And it's a curious thing because his attorneys just
got through saying in court filings that he didn't have
enough cash to post a bond.
So we're not sure. Exactly what Trump's financial circumstances are.
But if he does have this cash and doesn't use
it to try and and and guarantee this judgment,
that seems like a problem of his own making.
Senior Investigative Correspondent Eric Andersky.
Thank you, Erin.