Donald Trump’s net worth explored as he sues CNN with $475 million defamation lawsuit

Former President Donald Trump has decided to sue CNN for defamation. According to a lawsuit filed Oct. 3, Donald Trump asked the cable news giant to pay $75,000 in compensatory damages and reportedly more than $475 million in punitive damages. Donald Trump claims that CNN has damaged his reputation with false, slanderous and inflammatory misrepresentations about him and his thoughts. He claims that this CNN demonstration will negatively influence his political career.

Donald Trump said that the CNN cable news program used the term ‘Big Lie’ to refer to him. According to the former president’s lawyers, the term ‘Big Lie’ is an immediate reference to Adolf Hitler’s Mein Kampf. It was a strategy or a mental game embraced by the dictator to govern. CNN had allegedly said that Donald Trump’s arguments and words go against the electoral integrity of the 2020 races. The claim also says that CNN’s libelous comments and use of smears of Donald Trump have been amplified due to the fear that he may run again for the 2024 presidential election. Donald Trump thinks the 2020 official races were off the mark. After numerous claims and recounts, the former president actually believes that he was the real winner of the last election.

Donald Trump Sues Cable News CNN With $475 Million Defamation Lawsuit

Former US President Donald Trump sued CNN for defamation on Monday, seeking $475 million in punitive damages and claiming the network had carried out a “campaign of defamation and criticism” against him. Donald Trump claims in his lawsuit, filed in US District Court in Fort Lauderdale, Florida, that CNN took advantage of his significant influence as the leading news organization to defeat him politically. Donald Trump, a Republican, claims in the 29-page lawsuit that CNN had a long history of reprimanding him, but had recently increased his attacks because the network feared he would run for president again in 2024.

“As part of its deliberate work to shift the political balance to the left, CNN has attempted to contaminate the Complainant with a series of outrageous, misleading and defamatory labels of ‘racist’, ‘Russian lackey’, ‘insurrectionist’ and eventually ‘Hitler’. , the lawsuit states. The suit records some instances in which CNN appeared to compare Donald Trump to Hitler, including a January 2022 special report by host Fareed Zakaria that included footage of the German tyrant.

The suit comes as the 76-year-old former president faces significant legal trouble, including a criminal investigation by the US Department of Justice for keeping government records on his Mar-a-Lago property in Florida after leaving office. in January 2021. Donald Trump was sued last month by New York State Attorney General Leticia James, who accused him of misleading banks and insurers about the value of his assets. Additionally, a congressional committee is investigating the January 6, 2021 attack on the US Capitol by allies of Donald Trump, focusing on the former president’s role in the attack.

Donald Trump net worth

Donald Trump’s net worth is not publicly known. Different news organizations have gone out of their way to assess his riches. Forbes estimates it at $3 billion with Donald Trump persistently making cases much higher. Trump acquired wealth from his father and has also raised money from fundraisers, real estate projects, hotels, clubs, gold fields and Trump-branded items like ties and steaks. According to a report by The New York Times in 2018, Trump made something like $413 million (in 2018 prices) from his father’s business empire. Drawing on more than 100,000 pages of tax returns and money records from Fred Trump’s business and interviews with advisers and former employees, the Times found 295 separate streams of income Fred Trump earned over five decades to funnel his wealth to his son. .

When Trump talks about the money he received from his father, he often downplays the actual amount. He likes to have a reputation as an independent man. Trump is the recipient of some trust funds established by his father and his paternal grandmother starting in 1949 when he was three years old. According to The New York Times, he was a millionaire at the age of 8. In 1976, Fred established trust funds of $1 million ($4.8 million in 2021 dollars) for each of his five children and three grandchildren. Trump made $90,000 in 1980 and $214,605 ​​in 1981 through the asset. Donald Trump was also involved in various allegedly fraudulent tax schemes.

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