Saturday 1 October 2016

Trump liquid assets 'won't fund his run'

Tom Bergin in New York

Published 24/06/2016 | 02:30

Donald Trump. REUTERS/David Becker
Donald Trump. REUTERS/David Becker

Donald Trump says he has "unlimited" personal wealth to fund his White House run, but a review of his financial disclosures suggests he does not have enough cash to see him through to election day.

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Trump this week dismissed concerns about his campaign finances after electoral filings showed he raised just $3m (€2.63m) in contributions in May and had a war chest of only $1m (€880,000) at the end of the month. His Democratic rival, Hillary Clinton, raised $26m (€22.8m) in May, with a war chest of $42m (€37m).

If Trump did decide to self-finance his campaign, he could, in theory, tap into the hundreds of millions of dollars of revenue he says is generated by his businesses.

But it's not clear how much of this revenue he could use. Trump's liquid assets stood at $80m (€70m) to $230m (€202m) in July last year, according to an earlier electoral filing. Using the midpoint of the ranges, Trump's liquid assets have fallen $35m in the past year.

"There is a real question about how much he has in terms of liquid assets," said Norman Einstein, a political scholar. "It's quite possible that he doesn't have anywhere near what he suggests he has and what he does have is tied up in real estate."

Irish Independent

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