Donald Trump $355M GoFundMe Stalls At $1.3M After A Month Amid Legal Battles
It has been one month since Donald Trump's MAGA supporters began donating to a GoFundMe to help the former president foot his hefty legal bills, particularly those stemming from his New York City fraud trial.
Immediately After Judge Arthur Engoron slammed the former president with a $355 million fine on February 16, MAGA fan Elena Cardone created the fundraiser with the goal of raising the amount that Trump needed.
Although the fundraiser started strong, it has since slowed down drastically, with fewer donations coming in while Trump's bill increases due to a weekly interest.
Donald Trump's MAGA-Launched Fundraiser Stalls At $1.3 Million After One Month
As of this writing, the Trump GoFundMe has hit $1,354,790 from almost 24,000 MAGA donations. Unfortunately, this is a far cry from the goal of $355 million set by Elena Cardone, the wife of real estate mogul and multi-millionaire Grant Cardone.
It's unclear why the Trump GoFundMe has come to a halt despite starting off strong by raising over $1M in a week. However, the ex-president, who is currently in the middle of a re-election campaign, has yet to publicly acknowledge the GoFundMe launched on his behalf.
Trump's legal bill is also piling up fast. The initial $355 million fine continues to accrue a statutory 9% annual interest at more than $600,000 per week unless the business mogul is able to post a bond for the total amount.
Elena wrote of the Trump fundraiser: "This is more than a legal fund; it's a clarion call to all patriots to rally in defense of a man who has never hesitated to stand in defense of us."
She added, "It's about showing that when one of us is targeted for championing the values that make America great, he does not stand alone. We stand with him, shoulder to shoulder, ready to support, defend, and fight back against a system that threatens to undermine the very foundations of our republic.
The Former President's Team Is In Contact With The MAGA Fan
After the fundraiser reached the $1M milestone, Elena shared a heartfelt thank-you note to her fellow MAGA fans and an update regarding how the funds would reach the former president.
She wrote, "We are thrilled to share that, together, we've reached an incredible milestone of $1 million raised! This achievement is a testament to your generosity, support, and belief in our cause. Every donation, share, and word of encouragement has brought us to this moment, and for that, we are profoundly grateful."
Elena then assured MAGA fans that she was committed to making sure the cash raised gets to ex-President Trump.
She noted: "We are currently in communication with President Donald Trump's team to ensure that he can and will accept the funds raised. It's crucial that we navigate this process carefully and legally, and we appreciate your patience as we work through these details."
Elena added, "We want to be clear about the intended use of the funds raised. Every dollar will be used only to cover fines related to the New York civil fraud case, its appeal, and any related expenses."
GoFundMe Says The Fundraiser Does Not Violate Its Policies
Shortly after the news of the MAGA-launched GoFundMe made headlines, there were calls for it to be shut down.
Several individuals took to social media to call out GoFundMe, saying that the fundraiser violates their policy. Some even shared screenshots of the company's terms of service in a bid to draw their attention to their complaints.
In response to the callouts, Jalen Drummond, the director of public affairs at the company, told Newsweek, "This fundraiser is currently within our terms of service."
This means that the fundraiser would continue, allowing more MAGA supporters to pool their funds for the embattled billionaire and business mogul.
Expert Says Donald Trump Will Need To Find Other Means To Raise Money
According to Newsweek, Todd Landman, a professor of political science at the School of Politics and International Relations at the University of Nottingham, revealed that Trump will need to find another means to raise the money needed to pay off his New York fraud trial fine.
"The GoFundMe solution was always going to be a marginal effort relative to the sums that are required," Landman told the news outlet.
The professor noted that while Trump's campaign will get a significant boost of support due to his outstanding results in the primary elections, it won't affect the GoFundMe fundraiser.
Landman added, "[Trump] does not appear presently to have the liquidity to settle the damages from his civil cases, which may require liquidating some of his assets under relatively unfavorable terms. Campaign funds can be used to pay legal fees, but not be used to pay legal damages, so he will need a plan that goes beyond relying on crowdfunding through platforms such as GoFundMe."
Donald Trump Posts Bond In E. Jean Carroll Case
After the February 16 verdict in his New York fraud trial, Trump took to his Truth social media platform, Truth Social, to abuse Judge Engoron and the New York Attorney General, Letitia James.
He called Engoron "crooked" and labeled James a "corrupt" person for what he described as a "witch hunt."
The 77-year-old added that the verdict was an "unAmerican judgment against" him, his family, and his "tremendous business," claiming that the "radicals are doing all they can to kick" him out.
Besides the New York trial, Trump is also battling his defamation trial against former columnist E. Jean Carroll, in which he was ordered to pay $83.3 million.
The billionaire has now secured a $90 million bond to cover the defamation judgment and filed a notice to appeal the verdict.