Donald Trump reportedly used a bail bondsman after being arrested at Fulton County Jail in Atlanta, Georgia, on Thursday, paying $20,000 of his bond set at $200,000 and taking out a loan for the rest of it. The fact that the former president resorted to such a measure has sparked questions on social media about the state of his finances.
If he knows he’s going to show up for court, why would he tie up $200k in this when he can do it with $20k? Posting bail isn’t an investment.
Even if he just had the money in a savings account right now he would be making over $7k/month instead of $0. I get it, to someone who supposedly has billions, $7k isn’t anything, but it’s still $7k. I think at that point it’s more about the principle of the thing and the habits than the actual dollars and cents. And depending on how long this drags out, $7k/month ads up, and if he would have dipped into a better investment than a basic savings account, it would be more.
$7k a month in a bank? What bank is paying 3.8% monthly? That’s something like 44% annually. Are you maybe applying some annual interest rate monthly? If he was getting 5% annual growth on $180k, bed be getting something like $750 a month, or $9k a year. He’d have to put his court date off for 2.2 years to make that pay off.
Why do you think a savings account would pay $7k a month on a $200k balance?