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Trump?s Future: Tons of Cash and Plenty of Options for Spending It


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The New York Times
SOURCE: https://www.nytimes.com/2020/12/18/us/politics/trump-money-future.html
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Summary

Trump will exit the White House as a private citizen next month perched atop a pile of campaign cash unheard-of for an outgoing president, and with few legal limits on how he can spend it.Deflated by a loss he has yet to acknowledge, Mr. Trump has cushioned the blow by coaxing huge sums of money from his loyal supporters — often under dubious pretenses — raising roughly $250 million since Election Day along with the national party.More than $60 million of that sum has gone to a new political action committee, according to people familiar with the matter, which Mr. Trump will control after he leaves office. After weeks of shouting “FRAUD” to supporters in emails and asking them to back an “Election Defense Fund” (which also sent 75 percent of donations to his new PAC), the Trump operation has subtly shifted its tone and focus, returning to more sustainable pre-election themes, like hawking signed hats and opposing socialism.Mr. Trump and the R.N.C. did spend about $15 million combined in legal costs and other spending related to disputing the election between Oct. 15 and Nov. 23, according to federal records.Besides a $3 million payment to Wisconsin to fund a partial recount in the state, Mr. Trump’s largest recount-related payment did not go to attorney fees but to American Made Media Consultants, the Trump-linked L.L.C. on which Lara Trump was listed an original signatory. “There are very, very, very few limits on what he can’t spend money on.”In the last five years, Mr. Trump has never shied from spending hundreds of thousands of dollars from his contributors on his private businesses, a practice he could continue or expand while out of office.Just since mid-October, the Trump Victory Committee, a joint account operated with the R.N.C., has paid more than $710,000 to the Trump Hotel Collection, while his re-election account has continued to pay more than $37,000 per month to rent space in Trump Tower.It is not clear where his post-presidential operation will be based or who will run it, although several advisers expect it will be in Florida, where he is planning to move.But as a former president, Mr. Trump will be allocated a certain amount of taxpayer money for staff and office space for life after leaving the White House, and he is beginning to have discussions about which aides from the West Wing will accompany him.

As said here by Shane Goldmacher, Maggie Haberman