Trump TV, loans and legal cases: Ex president faces hazardous future

John Goodrich

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Most former presidents slip quietly from the White House into the background, releasing the occasional statement, writing a book, playing golf and appearing at inaugurations or memorials.

Golf aside, Donald Trump is unlikely to be that kind of ex president.

The man who has dominated global headlines since 2015 is now out of office, stripped of the legal protections the presidency gave him as well as the use of his favorite social media tools, and owing hundreds of millions of dollars in loans over the next four years.

Donald and Melania Trump before boarding Air Force One for the last time as president and first lady at Joint Base Andrews, Maryland, January 20, 2021. /Getty

On Wednesday, he skipped Joe Biden's inauguration and gave a brief speech to a small club of diehard aides at Joint Base Andrews as campaign favorites Macho Man and Tiny Dancer played in the background. Senior Republicans and former staffers stayed away.

"I just want to say goodbye," the 74-year-old said, "but hopefully, it's not a long-term goodbye."

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Trump and family boarded Air Force One for the final time as YMCA blasted out over the speakers and retreated south to Mar-a-Lago, the Florida resort which became known as the "Winter White House" during his presidency.

As with the real White House and Camp David, former First Lady Melania Trump has redecorated – and CNN reported the white marble and dark wood are not to her husband's tastes. But Trump's post-presidency discomfort is unlikely to stop at the new decor.

Legal jeopardy

Occupying the White House protected Trump from legal action but also led to his business, political and personal dealings undergoing intense scrutiny.

Out of office, civil and criminal cases involving the former president will step up a gear.

Donald Trump waves to supporters lined along on the route to his Mar-a-Lago estate on January 20, 2021, in West Palm Beach, Florida. /Getty

Manhattan District Attorney Cyrus Vance and New York Attorney General Letitia James are both pursuing high-profile cases against Trump.

Vance's investigations relate to potential financial crimes, including alleged pay-offs to a porn star and a model ahead of the 2016 election. He has subpoenaed eight years of Trump's financial records, and if the Supreme Court dismisses Trump's appeal information he fought bitterly to protect will be pored over by investigators.

James is also investigating potential financial crime, looking into claims the Trump Organization inflated the value of its assets when making loan applications and deflated them when it would benefit it for tax purposes.

Trump denies all the allegations, calling the investigations by Vance and James "witch hunts."

Donald Trump greets the crowd at a "Stop The Steal" Rally on January 6, 2021, in Washington, D.C, shortly before his supporters rioted at the U.S. Capitol. /Getty

Investigations are also underway in Washington D.C., where Attorney General Karl Racine is probing payments to Trump-owned facilities by the non-profit inaugural committee in 2017.

And Trump could yet face legal problems over his actions ahead of the January 6 Capitol riots. Racine told CNN that Trump could be charged by city prosecutors, and a federal investigation into the violence is ongoing.

Trump is also being sued for defamation in New York by two women – Summer Zervos and Jean Carroll – he claimed were lying after they accused him of sexual assault and could yet face action over his attempts to overturn the election.

Uncertain political future

While Trump has been maligned, particularly for his refusal to accept the results of the election and the violence that followed on January 6, he did win 70 million votes in November and has an estimated $200 million to spend on political causes via his Save America political action committee.

He lost the presidency but held huge sway over the Republican Party and looked to have a political future if he wanted one as a kingmaker or a 2024 candidate. January 6 has changed things for now: he is banned from mainstream social media, some Republicans have condemned him, and he faces a Senate trial.

Supporters of Donald Trump await his return to Florida along the route leading to his Mar-a-Lago estate on January 20, 2021, in West Palm Beach, Florida. /Getty

Trump became the first U.S. president to be impeached twice in mid-January for "inciting an insurrection," and the second time around, there is a realistic chance of Republicans joining Democrats to convict him and barring him from running for office again.

While his base of supporters is sticking with him for now – 78 percent of Republicans say they don't trust the results of the election, according to an NPR/PBS NewsHour/Marist poll released last week, and Gallup found 82 percent of the party approves of his job performance – his position with senior Republicans appears to be weakening.

The Trump family is moving en masse to Florida. /Getty

This split may give a clue to Trump's future in politics. "We will be back in some form," he said on Wednesday, and Politico reported that he has discussed starting his own party, his own conservative media network, or embarking on a money-spinning MAGA tour of the country.

The former president continues to threaten to back primary candidates against Republicans whom he deems disloyal, while there are also persistent rumors that Trump children Ivanka and Don Jr. intend to run for office. Both have moved to Florida with their father, and Ivanka is reportedly being encouraged to primary Marco Rubio, the state's two-term senator.

Money troubles

Trump's business career was always largely about marketing, his mastery of which was translated into politics. But after four controversial years in office, the brand is damaged, the Trump Organization's companies are struggling – and it owes a lot of money, soon.

Forbes reported that loans worth around $900 million must be repaid by the end of 2024, with the New York Times adding that several of Trump's 17 golf resorts were losing millions of dollars per year even before the pandemic.

With major banks increasingly unwilling to do business with Trump – Signature Bank has closed his accounts and Deutsche Bank, which he owes over $300 million, has said it will not work with him again – and companies disassociating themselves following the Capitol riots, refinancing won't be easy.

The Trump brand has been damaged, but the former president may return to the media. /Getty

Out of office, he will have the opportunity to make money, however.

A book deal seems inevitable, there will be an audience for high-paying speaking appearances at home and abroad, and he has floated creating his own media venture – a Trump TV station to take on Fox, social network to rival Twitter, or even a lucrative TV show similar to The Apprentice – though the costs could prove prohibitive.

His bans on Twitter, Facebook, and other platforms could also prove costly – direct access to almost 90 million followers gave him an avenue to both rally supporters and generate significant funds.

The fringe platforms that are open to him, such as Gab, Rumble, MeWe and Parler, are routes to diehard supporters but lack the commercial benefits of mainstream appeal. And in another blow, PayPal, Square, and Stripe have stopped processing payments to Trump's accounts.

With legal and financial issues hanging over the former president as well as an impeachment trial and political intrigue, Trump looks set to remain in the headlines for years to come.

(Cover photo via Getty)