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.

  • alvvayson@lemmy.world
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    1 year ago

    Not exactly. Rich people pay cash when doing so avoids fees. It would only make financial sense if bail bonds in Georgia go for below market rates.

    If he could have paid bail through a PAC or one of his companies, that would most probably be cheaper.

    He likely doesn’t have $200K to his personal name (to avoid tax) and is probably not allowed to pay bail from his PAC or company.

    • criticon@lemmy.ca
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      1 year ago

      Rich people take loans when the loan is cheaper than an investment. If he can borrow at 10% and has money making. 12% there’s no reason not to take the loan. Rich people almost never use cash and they have very few cash in hand