I write about billionaires with a focus on finance, deal-making, money in politics and white-collar crime. I won a 2021 SABEW Best in Business award for my writing on a Chinese billionaire's investments in Texas and billionaires' borrowing habits. My investigative reporting has been cited by U.S.
The Queens native who built a real estate empire in Manhattan is on the verge of possibly forfeiting his famous New York properties to state authorities—in addition to all his spare cash. Here’s what could happen next.n Monday, Donald Trump’s lawyers revealed in a legal filing that Trump had failed to secure the $464 million appeals bond he needs to avoid paying the half-billion-dollar penalty as he appeals the New York civil fraud judgment against him.
Spectators can expect a long and drawn-out series of legal filings and appeals, over a period of weeks, months and possibly even years. The Attorney General is “not going to take a stake and drive a sign through the front yard that says, ‘This building has been seized,’” explains O’Brien. “It’s a legal process. It’s not like she’s going to be selling these properties next week.”
There are other mechanisms for the Attorney General’s office to squeeze money out of Trump’s buildings—like taking payments from tenants that lease space from Trump. “Ultimately the Attorney General could not only look for money that Trump has in the bank, but can stop tenants that pay big amounts of rent to Trump from paying him,” says Zauderer.
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