Former President DonaldTrump has requested his second extension from the U.S. Federal Election Commission (FEC).
Knewz.com has learned that the FEC granted Trump an extension of 90 days to file his personal financials sparking speculation about his monetary obligations.
According to Reuters, he was initially required to surrender a report on May 15, but the deadline was extended upon request until July 1.
This followed one of Trump’s attorneys citing “the complexities of his financial holdings,” as a warrant for extension.
The FEC then released a second letter stating: “A hard copy of the report bearing Mr. Trump's original signature is now due and should be received by the Federal Election Commission by August 15, 2024.”
This development comes in the wake of an article published by Bloomberg News stating that Trump had seen an end to his financial woes as his campaign sponsors helped him streak ahead of President Joe Biden.
The publication also cited an explosion “of online donations immediately following his felony convictions,” and went on to say even though Biden had set a record in democratic history with his $212 million campaign kitty, Trump was able to raise almost a quarter of Biden’s entire election purse ($52 million) in the first 24 hours following Stormy Daniels verdict.
Thus far, the Republican presidential candidate raised a total of $283 million which has him ahead of Biden by $57 million.
Trump’s campaign trail, it goes without saying, is a lot costlier than Biden’s. According to a report by the New York Times, between Trump’s departure from office in 2021 and March 2024, the former president was able to rack up a $100 million bill on lawyers and legal costs—and none of it was paid for with his own money.
“Instead, the former president has relied almost entirely on donations made in an attempt to fight the results of the 2020 election,” the New York Times reported.
According to this publication, however, Trump’s financial prognosis was bleak.
“Now, those accounts are nearly drained,” the New York Times continued, “and Mr. Trump faces a choice: begin to pay his substantial legal fees or find another way to finance them.”
Supporting himself, however, may not be as easy as it once was. Justice Arthur Engoron, after doing the math, ruled that the former president was to pay $355 million plus interest (approximately $100 million) after it was found that he falsely inflated the value of his properties for lower tax premiums and to improve the terms of his loans.
His sons Donald Trump Junior and Eric Trump did not escape Engoron’s gavel. Both were fined $4 million for their part in the Trump empire's infractions.
The former president has also been handed a three-year ban from heading up any New York company while his sons were both banned from the same for two years.
Trump’s election campaign is yet to weigh in on the report by the FEC.