This is actually very simple and a baked-in strategy of the wealthy—”Own nothing, and you’ll be happy”—let me explain.
The great financial teacher Robert Kiyosaki once explained that wealthy people don’t really own anything, at least not in their names anyway.
Wealthy people control things they want to own through LLCs, shell companies, business entities, charitable remainder trusts, corporate structures, partnerships, etc.
Some of the greatest insurance anyone can buy is the asset protection that corporate structures and business arrangements provide.
President Trump is no stranger to this—not a single wealthy person living in modern times is a stranger to this, and this is exactly why Letitia James likely won’t be able to seize his assets.
Constitutional attorney Jonathan Turley recently appeared on Fox Business to explain this in greater detail.
Simply put, because President Trump owns his properties through complex partnerships and corporate structures, they likely won’t be seized. They don’t just belong to him. Take a look at what he had to say:
Jonathan Turley Pours Cold Water On Letitia James' Plans To Seize Trump's Assets pic.twitter.com/94VCC5ihpe
— Illinois girl Desi (@d_ewinger) March 23, 2024
HUGE CASH WINDFALL FOR TRUMP!
Former President Donald Trump stands to get a windfall of $3.5 billion now that shareholders of Digital World Acquisition Corp. have approved a merger with his Truth Social on Friday.
Read more: https://t.co/lre1KmNW2S pic.twitter.com/Tw0TAEVjCl
— Bill Mitchell (@mitchellvii) March 22, 2024
Newsmax also explained:
Turley further emphasized that the seizure of the properties would likely involve court battles and challenges, making it far from an overnight occurrence.
He dismissed the notion of Trump Tower being padlocked as a celebration and stated, “It’s not likely to happen, and it’s certainly not likely to remain very long.”
Meanwhile, in other news, President Trump is set to rake in a windfall profit of $3.5 billion from the proposed merger between Truth Social and DWAC.
BREAKING: The biggest institutional investor in the SPAC that’s merging with Truth Social is Susquehanna International Group LLP, which was co-founded by GOP megadonor Jeffrey Yass.
The deal is poised to give Donald Trump a massive financial lifeline. pic.twitter.com/W8EClMEkfC
— Citizens for Ethics (@CREWcrew) March 22, 2024
A merger deal involving former President Trump’s Truth Social platform is the latest financial twist in the White House race as he looks to close the fundraising gap with President Biden. https://t.co/dZf3oPdXVt
— The Hill (@thehill) March 23, 2024
Fox News reports that the former President is ready to take his battle to SCOTUS if necessary:
“I’ll fight this all the way up to the U.S. Supreme Court if necessary,” Trump told Fox News Digital.
“They can’t take away your property before you’ve had a chance to appeal the decision of a Trump-hating, incompetent judge who has been overturned more than any judge in the state.”
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