Mar 8, 2024,08:15am EST
Former President Donald Trump was directed to pay more than $300,000 on Thursday for his unsuccessful lawsuit against former British spy Christopher Steele. This adds to the over $540 million that the ex-president has been compelled to cover in legal fees and court judgments in recent months due to a string of courtroom defeats.
TIMELINE
- March 7, 2024: Trump was ordered to pay £300,000 in legal fines after losing a lawsuit against Steele and Orbis Business Intelligence in the U.K.
- Feb. 16, 2024: New York Judge Arthur Engoron ordered Trump and his controlled companies to pay nearly $454.2 million in penalties and pre-judgment interest for fraudulently misstating asset values on financial statements.
- Jan. 26, 2024: Trump was ordered to pay $83.3 million in damages to writer E. Jean Carroll for defamation.
- Jan. 12, 2024: Trump was ordered to pay nearly $392,638 in legal fees to The New York Times after a lawsuit regarding the publication of his tax records.
- May 9, 2023: Trump was ordered to pay Carroll $5 million in a separate trial for defamation and sexual assault.
- Jan. 19, 2023: Trump and his attorney Alina Habba were ordered to pay nearly a million dollars in sanctions over a lawsuit against Hillary Clinton and other Democrats.
- Jan. 13, 2023: The Trump Organization was ordered to pay over $1.6 million for criminal tax fraud.
WHAT TO WATCH FOR Trump faces challenges in paying off larger debts in the Carroll and fraud cases. He must pay fines into a court-controlled account or post appeals bonds while appealing the judgments.
WHAT WE DON’T KNOW The extent of Trump’s future legal fines as he faces other civil cases and criminal charges. Forbes estimates he has $413 million in cash and liquid assets as of March, which may not cover his fines.
FORBES VALUATION Forbes estimates Trump has $413 million in cash and liquid assets as of March—part of an overall $2.6 billion estimated net worth—which may not cover his fines.
SURPRISING FACT The $382,000 Trump owes for the Steele case is significantly less than the interest accrued in the New York civil fraud case.
CHIEF CRITIC Trump has strongly opposed the judgments, labeling them as “witch hunts” and “manifest injustice.” His attorneys have sought to reduce or dismiss the fines.
KEY BACKGROUND Trump’s legal fines add to significant fees for his ongoing legal issues, which his attorneys have largely been paid through his Save America PAC.
TANGENT Trump’s use of campaign funds for personal legal fees is a legal gray area, and whether he will use Save America funds to pay legal penalties remains to be seen.