Some Republican billionaires are reportedly working together to help former President Donald Trump raise cash for the original $454 million bond amount he needs in his New York civil business fraud case.
Billionaires Helping Donald Trump to Fund Bond in Civil Fraud Case
Reuters, citing two sources familiar with the matter, reported that billionaire hedge fund founder John Paulson was leading the efforts to raise money for Donald Trump's bond in the civil fraud case. Another source told the outlet that oil and gas mogul Harold Hamm was also involved.
A fourth source also told Reuters that he had direct knowledge of a major Republican donor who offered over $10 million toward the bond during the weekend before being told it was no longer necessary.
On Monday, Trump won a bid to delay the enforcement of the $454 million judgment if he posts a smaller $175 million bond within 10 days.
The former president said after Monday's court decision that he could now pay the smaller bond. Another source told Reuters that the group had collected the full original amount due on Monday.
However, it was unclear if the Republican mega-donors would still offer to help fund the smaller bond or if Trump would have to give collateral or other guarantees to the donors.
Read Also : Donald Trump Throws a Social Media Tantrum as $464 Million Bond Deadline in Fraud Case Nears
Donald Trump Campaign Spokesperson Denies Coordinated Effort by Billionaires
Donald Trump campaign spokesperson Steven Cheung has denied that there was a "coordinated effort." Cheung told Reuters that the former president had "more than enough cash" to pay the original $454 million bond.
John Paulson and Harold Hamm are reportedly involved in the April 6 fundraising event in Palm Beach, Florida, which is not related to the bond payment efforts. Paulson was listed as a host in an invitation, while Hamm will be a co-chair.
According to the invitation, the donations will go to Trump's campaign and the Save America PAC, which will pay his legal expenses before the Republican National Committee and state Republican parties receive a cut.
CNBC reported that Paulson had called his allies on Wall Street and said it was time to help Trump become president again.
"My message is that we need to unite and stand behind President Trump. There is only one candidate that can lead us in the right direction," he told the outlet on Monday.
"It's important to put personal differences aside and focus on what's important: protecting our borders, immigration, crime, education, the economy, trade, and foreign policy," he added.
One source told Reuters that Trump has discussed picking Paulson as his treasury secretary if he wins the presidency again.
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