The company that saved Donald Trump with a $175 million bank fraud bond is playing an insurance game that has experts questioning whether New York will ever see the money.
In any case he technically owns millions/billions in assets, but it’s very likely that he’s lived by taking out loans on capital gains, and that every tangible asset he has is already leveraged as collateral for that.
Which means none of his properties are actually able to serve as collateral in a bond agreement (where whatever company puts up the cash and deals with the hassle of selling and maybe not getting enough to cover it. So they usually take more in collateral.)
How can he be perceived as rich but can’t put the money up for the appeal? It can’t be both.
Perception is not based on reality.
In any case he technically owns millions/billions in assets, but it’s very likely that he’s lived by taking out loans on capital gains, and that every tangible asset he has is already leveraged as collateral for that.
Which means none of his properties are actually able to serve as collateral in a bond agreement (where whatever company puts up the cash and deals with the hassle of selling and maybe not getting enough to cover it. So they usually take more in collateral.)