Tesla Inc. CEO Elon Musk agreed that the Supreme Court should overturn the "outrageous" fine imposed on former President Donald Trump in an ongoing trial in New York.
What Happened: Musk expressed his disapproval of the fine imposed on Trump by Judge Engoron in New York City.
Musk agreed with a Trump supporter account on X, formerly Twitter, that the Supreme Court should "act like one" and overturn the penalty, which is described as “outrageous.”
It’s worth noting that the fine is related to a $355 million civil fraud case against Trump for inflating his net worth to secure more favorable loan terms. He has been ordered to deposit a $464 million bond by March 25.
Amidst these legal challenges, Musk’s public support for Trump is notable. Despite stating that he won’t make financial contributions to either Trump or President Joe Biden, Musk’s social media activity has suggested a different type of support for Trump’s political campaign.
Why It Matters: Musk’s tweet comes when Trump’s financial situation has been under the spotlight. The former President is set to receive a substantial windfall following the merger of his social media company, Truth Social, with Digital World Acquisition Corp.
Despite this, Trump has been facing significant legal challenges, including the possibility of a property ‘fire sale’ to cover a $464 million bond in the fraud case.
New York Attorney General Letitia James has also indicated readiness to seize Trump’s assets if he fails to pay the fine.
These developments have sparked speculation about the potential impact on Trump’s financial standing and personal assets. Former White House press secretary Stephanie Grisham suggested that it would be “very hard on his ego” if his properties were seized.
Trump’s legal battles and potential financial setbacks could have major implications for his future. Musk’s public call for the Supreme Court to intervene makes this ongoing saga more intriguing.
Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
Photos courtesy: Shutterstock
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