Former President Donald Trump would have to sell a staggering number of shoes from his new sneaker line to pay off a multi-million dollar fine from his New York civil fraud case.
On Friday, Judge Arthur Engoron ordered Trump to pay roughly $355 million and barred him from doing business in New York for three years following a monthslong trial to determine damages after the judge found that the former president was liable for business fraud. Trump has maintained his innocence and his lawyer said that he will appeal Engoron’s ruling. The former president has claimed the case was politically motivated as he is the GOP frontrunner in the 2024 presidential race.
Engoron’s decision comes after New York Attorney General Letitia James filed a lawsuit in September 2022 accusing the former president, his two adult sons, Donald Jr. and Eric, The Trump Organization and two firm executives, Allen Weisselberg and Jeff McConney of fraudulently overvaluing assets to secure more favorable bank loans and taxation deals. The other defendants in the case have also received financial penalties and are banned from doing business in New York for periods of time.
On Saturday, Trump took the stage at Sneaker Con at the Philadelphia Convention Center to announce the launch of his new sneaker line, which includes the “Never Surrender-High Tops” priced at $399.
Chip Somodevilla/Getty Images
If this new business venture proves profitable, it may help Trump pay off his New York fine.
For Trump to be able to pay the $355 million with just his sneaker profits, he would have to sell approximately 889,725 pairs of the “Never Surrender High Top” sneakers. There is a more moderately priced athletic shoe at $199. The former president would need to sell about 1,783,920 pairs of the athletic shoes to pay off his fine.
If you include the interest that comes with the $355 million fine, James said Trump will end up paying $450 million. This means that Trump would have to sell about 1,127,820 pairs of the high-top shoes to pay it off, or approximately 2,261,307 pairs of the athletic shoes.
Newsweek reached out to Trump’s campaign via email for comment.
Sneakers sales aren’t the only way for Trump to pay off his fine. He could also sell his New York properties, which author and journalist Tim O’Brien said would be “something of a fire sale” on MSNBC’s Velshi Saturday morning. O’Brien also wrote the former president’s 2005 autobiography, TrumpNation: The Art of Being The Donald.
Trump could also rely on the generosity of his supporters who have been donating to a GoFundMe page titled, “Stand with Trump; Fund the $355M Unjust Judgment” that was created on Friday.
The fundraiser has already raised $237,144 with 5,408 donations in less than 48 hours.
James said Engoron’s ruling was a “massive victory” in a post on X, formerly Twitter, on Friday after the verdict, despite Trump calling it a “witch hunt” on Truth Social, his social media platform.
“No matter how big, how rich, or how powerful you are, no one is above the law. Not even Donald Trump,” James wrote on X.
Uncommon Knowledge
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Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.