On "Forbes Newsroom," Forbes Senior Reporter Dan Alexander spoke about the impact of the guilty verdict on former President Trump's personal finances.
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NewsTranscript
00:00 I want to talk about the personal impact to Donald Trump just a little bit. As we know now he is a convicted felon. I want to talk about how this impacts his bank account because he faced a cash cash crunch months ago due to owing millions in a civil fraud case. What does this do to his net worth.
00:18 Virtually nothing. Donald Trump is not footing his own legal expenses right now. You know that's coming in through you know mom and pop campaign donors all over the country who are supporting his political efforts and his political operations are in turn paying his lawyers.
00:36 The amount of money involved in this case was shockingly small. Remember this boils down to an one hundred and thirty thousand dollar payment from a guy worth billions of dollars for all of the gravity and magnitude of this decision.
00:48 It's amazing that it took so little a transaction with so little money involved to yield the first criminal convictions of a former president of the United States.
01:00 The financial impact of this case is much less significant than the financial impact of the fraud case that he civil fraud case that he was on trial for last fall and ultimately in which a decision was made against him early this year finding it more than four hundred and fifty million dollars.
01:18 So let's talk about what's next. Sentencing is July 11th right before the RNC. His team has indicated that they will appeal. So how is this process going to play out especially with a presidential election as the backdrop.
01:34 There's no precedent. Nobody knows. I mean we don't know what all of the political ramifications are when the appeals process plays out. You know. OK. So what happens if he loses his appeal and is sentenced but is simultaneously the sitting president of the United States.
01:54 We don't know if he does go to jail. We know that the Secret Service is required to go with him. But you know what the legal system takes a long time.
02:04 Remember this stems back to a conspiracy that began in 2015 payments that happened in 2016. And here we are in 2024. Although the world has known the facts of this case most of them for eight years.
02:18 We're just finally now seeing conviction on it and the appeals process will similarly take a long time. And so ultimately you know the justice system will arrive at its decision.
02:30 The judge will impose a sentence and Donald Trump will have to abide by whatever those consequences are. But that could be a few months from now. It could be a few years from now. We just don't know at this point.