Trump Hoarding Cash Rather Than Spending It On Election Challenges
Ever since leaving office in January twice-impeached, one-term former president Donald Trump has used his false claims that the 2020 election was stolen from him to raise money. His political action committee has brought in about $75 million but it has spent hardly any of the cash on election challenges, as he had promised in his fundraising emails.
Instead the Save America PAC has paid for some of Trump’s travel, legal costs and staff and other expenses according a report from The Washington Post. Most of the funds raised by the PAC remain in the bank.
As was his practice for decades in the real estate business, Trump has no interest in putting his own money at risk, preferring to have others fund the election challenges. That is enabling him to maintain a huge bank account, which he can use to help fund the campaigns of his favored candidates in the 2022 midterm elections. He also could use that money to pay for another potential run for the White House, which he reportedly has told close associates he is strongly considering.
“That is probably the most lucrative thing he’s had in terms of cash flow since the Plaza casino in Atlantic City,” Tim O’Brien, a Trump biographer and frequent critic, told The Post. “This is just as lucrative. He has recognized because of what happened after the election — he can make money as a candidate.”
In addition to fundraising, Trump also has begun renting the massive trove of data that his campaign collected to other candidates he supports. In exchange he reportedly gets a share of their fundraising revenue- another valuable source of cash flow for him.