Trump's cash register: lawsuit settlements, the ballroom, donors and pardons

ABC pays $15 million to settle Trump's defamation suit, routed to his future library

$15 million ABC settlementThe President

ABC News agreed on December 13, 2024 to pay $15 million to settle Trump's defamation suit over remarks by anchor George Stephanopoulos. The settlement described the money as a charitable contribution to a future Trump presidential foundation and museum. A nonprofit, the Donald J. Trump Presidential Library Fund Inc., was created in Florida that same month to receive it. It became the template for later media settlements.

Source: Rep. Melanie Stansbury (press release), NPR (via VPM)

Trump pardons Nikola founder Trevor Milton, who gave $1.8 million to his campaign fund

$1.8MA donor

The White House confirmed a full pardon for Trevor Milton, the founder of electric-truck startup Nikola, who was convicted of defrauding investors and sentenced to four years. Federal Election Commission records show Milton and his wife gave more than $1.8 million to a Trump re-election fund less than a month before the November 2024 election. The pardon could wipe out hundreds of millions of dollars in restitution prosecutors sought for defrauded investors.

The response: Trump said Milton was 'highly recommended by many people,' that he 'did nothing wrong,' and suggested Milton was prosecuted for supporting Trump early (AP, March 28, 2025).

Source: Associated Press (via KPRC Click2Houston)

Pardon for tax felon Paul Walczak weeks after his mother attended a $1 million-a-plate Mar-a-Lago dinner

$1 million per person dinnerA donor

The New York Times reported that Trump pardoned Paul Walczak, a former nursing-home executive who pleaded guilty to withholding more than $10 million in employee payroll taxes and was sentenced to 18 months plus about $4.4 million in restitution. His mother, Elizabeth Fago, had been invited to a $1-million-per-person fundraising dinner at Mar-a-Lago; Trump signed a full pardon less than three weeks after the dinner and 12 days after sentencing. Walczak's application argued the prosecution was driven by his mother's politics.

The response: A White House official told the Times that Walczak was 'targeted by the Biden administration over his family's conservative politics.'

Source: New York Times (via Boston Globe)

Paramount pays $16 million to settle '60 Minutes' suit while its merger awaits FCC approval

$16MThe President

Paramount, owner of CBS, agreed to pay $16 million to end Trump's lawsuit over the editing of a '60 Minutes' interview with Kamala Harris, a suit legal scholars had called meritless. The money goes to Trump's future presidential library and legal fees; there was no apology. The deal came while Paramount's $8.4 billion merger with Skydance needed approval from Trump's FCC. Senators Sanders, Warren and Wyden had warned Paramount's chair that a settlement could amount to bribery; '60 Minutes' chief Bill Owens and CBS News president Wendy McMahon had already quit over the pressure.

The response: Paramount said the lawsuit was 'completely separate from, and unrelated to, the Skydance transaction and the FCC approval process.' FCC Chair Brendan Carr said his merger review was separate from the lawsuit (CNN, July 1, 2025).

Source: CBS News, CNN (via KEYT)

Trump announces the 2026 G20 summit will be held at his own Doral golf resort

The President

From the Oval Office, Trump said the December 14-15, 2026 Group of 20 leaders' summit would be held at Trump National Doral Miami, calling it 'the best location' and saying it would 'bring in millions and millions of dollars.' In 2019 he dropped a plan to host the G7 at the same resort after bipartisan criticism that it would enrich him. Critics said hosting foreign governments at a family business could violate the Constitution's foreign emoluments clause.

The response: Trump said his family business 'will not make any money on it.' The White House said Trump Doral would host 'at-cost, and will receive no profit from either the State Department or a foreign government' (CBS News).

Source: CBS News, NBC News

YouTube pays $24.5 million, with $22 million earmarked for Trump's White House ballroom

$24.5MThe President

Google's YouTube agreed to pay $24.5 million to settle Trump's lawsuit over the suspension of his channel after January 6, 2021. Court papers say $22 million goes, at Trump's direction, to the Trust for the National Mall to build the White House ballroom, and $2.5 million to co-plaintiffs. It was the last of three Big Tech settlements: Meta paid $25 million and X (Twitter) $10 million earlier in 2025. Trump's YouTube account had been restored since 2023, and YouTube admitted no wrongdoing.

The response: Google confirmed the settlement but declined to comment further; the filing says it is not an admission of liability. Trump called it a 'MASSIVE victory' on Truth Social.

Source: Associated Press (via NBC DFW)

Trump seeks about $230 million from his own Justice Department; his ex-lawyers would decide

$230MThe President

The New York Times reported, and CBS confirmed, that Trump had filed two administrative claims under the Federal Tort Claims Act seeking roughly $230 million: one over the FBI's Russia investigation, one over the 2022 Mar-a-Lago search. Under Justice Department rules the deputy or associate attorney general approves such settlements; Deputy AG Todd Blanche was Trump's lead criminal defense lawyer and Associate AG Stanley Woodward represented his co-defendant. Any payment would come from the Treasury and need not be announced publicly. House Democrats Jamie Raskin and Robert Garcia opened an inquiry.

The response: Trump said 'It could be' when asked about the figure, that the government 'probably owe[s] me a lot of money,' that 'I don't even talk to them about it,' and that he would give any money to charity or 'to the White House while we restore the White House.' A DOJ spokesperson said 'all officials at the Department of Justice follow the guidance of career ethics officials.'

Source: CBS News, NBC News, Rep. Robert Garcia (CNN report)

East Wing of the White House demolished for a ballroom whose price rose from $200 million to $300 million

$300MThe President

AP photos showed the entire two-story East Wing reduced to rubble four days after demolition began on October 20, 2025, to make way for a 90,000-square-foot ballroom. Announced in July at $200 million, the price rose to $250 million and then, on October 22, to about $300 million. The administration had not obtained approval from the National Capital Planning Commission or Commission of Fine Arts, both closed during the government shutdown; preservationists asked for a halt.

The response: Trump said he and 'some friends of mine' would pay for the ballroom so taxpayers bear no cost. Press Secretary Karoline Leavitt said demolition did not require approval, attributed cost increases to normal construction changes and urged the public to 'just trust the process.'

Source: Associated Press (via Boston.com)

White House names 37 ballroom donors; most have business before the government

A donor

The White House released a list of 37 ballroom donors without amounts. Corporate names included Lockheed Martin, Palantir, Booz Allen Hamilton, Google, Amazon, Apple, Meta, Microsoft, Coinbase, Ripple, Tether America, Comcast, T-Mobile, Altria, Reynolds American, Caterpillar, Union Pacific, NextEra, Micron and HP, companies with federal contracts, pending mergers or regulatory matters. Individuals included Stephen Schwarzman, Harold Hamm, the Lutnick family, the Adelson Family Foundation, the Winklevoss twins and Kelly Loeffler and Jeff Sprecher. Senator Richard Blumenthal wrote to the donors asking how much each gave and what they wanted.

The response: Trump has said the funding comes from private donors and himself, not taxpayers.

Source: CNN (via Atlanta News First)

Pardoned banker's daughter gave $3.5 million to Trump's super PAC and pledged $2.5 million to the ballroom

$3.5MA donor

Trump pardoned Venezuelan banker Julio Herrera Velutini in January 2026 after he pleaded guilty to a misdemeanor in a Puerto Rico bribery case. The Campaign Legal Center filed an FEC complaint alleging his daughter, Isabela Herrera, acted as a straw donor for her father, a foreign national barred from giving, by contributing $3.5 million to MAGA Inc. in December 2024 and July 2025. Washington Post records later showed she also pledged $2.5 million to the White House ballroom in September 2025, paying an $835,000 first installment in October 2025.

The response: The CLC filing is an allegation; the Post's reporting did not establish a link between the donations and the pardon. No response from Herrera Velutini or the White House was included in either report.

Source: Campaign Legal Center, Washington Post (via Spokesman-Review)

DOJ settles Trump's $10 billion IRS suit with a $1.776 billion taxpayer fund; Trump drops the $230 million claims

$1.78BThe President

Acting Attorney General Todd Blanche, Trump's former defense lawyer, announced a settlement of Trump's $10 billion lawsuit against the IRS over the leak of his tax returns. Trump, his sons and the Trump Organization get a formal apology and no cash, and withdraw the two $230 million administrative claims. In exchange the government creates a $1.776 billion 'Anti-Weaponization Fund,' drawn from the Treasury's Judgment Fund, run by five commissioners appointed by the attorney general, to pay people who say they were victims of 'lawfare.' Vice President Vance and Blanche declined to rule out payments to January 6 rioters.

The response: Blanche said the fund gives 'a lawful process for victims of lawfare and weaponization to be heard and seek redress.' Trump said compensation would depend on a committee and that he 'didn't do this deal.' CREW's Donald Sherman called it 'the most brazen act of self-dealing in the history of the presidency'; 93 House Democrats sought to block it in court.

Source: CBS News, U.S. Department of Justice, TIME

Blanche kills the $1.8 billion fund but keeps the Trump family's shield from IRS audits

$100MThe President

Days after a federal judge temporarily blocked the fund, Blanche told a House Appropriations panel 'We are not moving forward with the fund, period,' but refused to put it in writing. A May 19 addendum he personally approved still shields Trump, his family and related businesses from tax audits and enforcement on returns filed before the settlement, and bars prosecution based on undefined 'Lawfare and/or Weaponization.' Rep. Rosa DeLauro said that amounted to about $100 million in tax immunity, citing a New York Times estimate of a pending audit; she also noted a Trump PAC paid Blanche nearly $10 million in 2024. On August 2, 2026, under pressure from GOP senators, Blanche signed an order rescinding the fund and narrowing the audit immunity to claims open at settlement.

The response: Blanche called the $100 million figure 'Not true,' said dropping past audits is typical in IRS settlements and that the addendum is 'not a forward-looking document.' His August 2 order says no money was ever moved and no claims paid.

Source: CNBC, CBS News

Disclosure: Trump's businesses took in over $2 billion in 2025, including $80 million from media settlements

$2BThe President

Trump's 927-page financial disclosure for 2025, released by the Office of Government Ethics, shows more than $2 billion in income, over triple the prior year. It lists more than $80 million in income from settlements with ABC, CBS, Meta and Google/YouTube, paid to the Trump Presidential Library Foundation; revenue at his golf clubs and resorts up 15 percent to more than $500 million; Mar-a-Lago revenue of $77 million, up from $50 million in 2024; and about $52 million from licensing his name to overseas developers. Crypto was the largest source at over $1.4 billion (covered elsewhere). CREW counted at least $117 million in foreign revenue, a record.

The response: White House spokesperson Anna Kelly: 'Neither the President nor his family has ever engaged—or will ever engage—in conflicts of interest.' A Trump Organization spokesperson said the filing shows 'a strong financial position' and a level of transparency unmatched in presidential history.

Source: TIME, NBC News, CREW

Democrats: up to $21.5 million of the media settlement money is missing or unexplained

$21.5MThe President

Comparing Trump's new disclosure with Florida charity filings, Warren, Blumenthal and Stansbury wrote to the treasurer of the Donald J. Trump Presidential Library Foundation that up to $21.5 million paid by ABC, Meta, Paramount and X is unaccounted for or spent without explanation. The disclosure shows $56.5 million from Meta, ABC and Paramount, but the foundation's Florida filing lists $50 million in revenue and nearly $7 million in expenses, including about $400,000 in officer pay despite a registration saying officers, including Eric Trump, are unpaid. X's roughly $8 million is not traced at all.

The response: Library foundation treasurer Madison Faupel later told MS NOW: 'There are no missing funds.' The White House and foundation did not respond to the July letter by publication.

Source: MS NOW, MS NOW

House Judiciary Democrats: Trump clemency erased nearly $1.7 billion owed by white-collar criminals

$1.7BA donor

A staff report from House Judiciary Committee Democrats, 'Pardons, Inc.,' found Trump's second-term clemency wiped out nearly $1.7 billion in restitution, fines and forfeitures owed to victims and taxpayers. Drawing on a Reuters investigation that identified 290 'influencers' behind 197 successful bids, it documents intermediaries charging up to $2 million per engagement and a floated $30 million pardon proposal. Named cases include Trevor Milton ($1.8 million in donations), Paul Walczak, Carlos Watson of Ozy Media (penalties eliminated), BitMEX executives ($130 million in fines erased) and David Gentile, whose $15.5 million forfeiture vanished after he paid a Trump-connected intermediary $2.5 million.

The response: Press Secretary Karoline Leavitt has said anyone spending money to lobby for pardons is foolishly wasting it; pardon attorney Ed Martin said he has seen no corruption; the White House says the president is the final decision maker after DOJ and Counsel's Office review (as reported by NOTUS, July 2026). The report is from the minority party and its figures are its own estimate.

Source: House Judiciary Committee Democrats

Supreme Court, 5-4, lets the $400 million ballroom keep rising; Roberts says the work is 'likely unlawful'

$400MThe President

After U.S. District Judge Richard Leon halted above-ground construction in April because Congress never approved the project, and an appeals panel agreed the ballroom was 'not a matter for Executive self-help,' the Supreme Court paused Leon's order 5-4. The majority said the National Trust for Historic Preservation probably lacks standing; it did not rule the project legal. Chief Justice Roberts dissented with the three Democratic appointees. The administration says the 90,000-square-foot, $400 million ballroom is 65 percent complete, about $200 million in donations has been spent or committed, and it will be finished in summer 2028.

The response: Solicitor General D. John Sauer called the lower-court halt 'extraordinary and unlawful' and said finishing the project is 'vitally required by national security.' The White House did not respond to AP's request for comment.

Source: PBS NewsHour / Associated Press, Axios

Leaked ledger: $333 million for the ballroom, $25 million each from Apple and Nvidia, $77 million anonymous

$333MA donor

The Washington Post obtained the Trust for the National Mall's donor spreadsheet: $333 million in 67 commitments over $10,000 as of late September 2026, short of the $400 million Trump says he wants. Apple, Nvidia (which asked for anonymity), the Adelson family and EchoStar's Charlie Ergen each committed $25 million; Microsoft $10 million; Amazon, T-Mobile, ServiceNow, Cisco, Paul Singer's foundation and Kelly Loeffler and Jeff Sprecher $5 million each. About half came from companies or executives with federal contracts. A Rocket subsidiary pledged $10 million three weeks after federal regulators approved Rocket's purchase of Mr. Cooper. At least $77 million came from donors who asked not to be named.

The response: White House spokesman Davis Ingle called the donors 'generous individuals, all of whom are contributing to make the People's House better for generations to come' and said the administration would 'relentlessly pursue those responsible for this cowardly leak.' Nvidia said its support is 'independent of any business interests'; ServiceNow called any link to its government business 'wholly inaccurate'; Rocket said the approval and donation were unconnected; AT&T said it was listed in error.

Source: Washington Post (via Spokesman-Review), CNBC

On the eve of the midterms, Forbes puts Trump at $7 billion, up $2.7 billion since his 2024 win; questions go unanswered

$7BThe President

MS NOW's review found Trump and his family have mostly not answered judges, watchdogs or Democrats about business deals, stock trades, ballroom money and gifts. Forbes' 2026 list estimated Trump's net worth at $7 billion, up $2.7 billion since November 2024, and $10 billion including his children; Forbes' real-time page showed $6.5 billion on November 1, 2026. Trump's disclosures show more than 14,000 stock trades worth up to $1.06 billion in his first year back. Democrats have sent at least nine letters about the ballroom; one to chief of staff Susie Wiles went unanswered. In August 2025, the New Yorker's David Kirkpatrick estimated the family had made about $3.4 billion from the two presidencies.

The response: White House spokesperson Davis Ingle said the stock portfolio is held in discretionary accounts tracking indexes and 'There are no conflicts of interest.' Trump said his money is invested by others and he does not talk to them. The Trump Organization called a Warren-Garcia letter a 'baseless political stunt.'

Source: MS NOW, Forbes