Donald Trump says he has $500M cash, in contrast with attorney's bond claims

March 22 (UPI) -- Donald Trump posted on social media Friday that he has almost $500 million in cash. His attorneys have claimed he does not have the $454 million needed to satisfy the judgment in the New York civil fraud case against him.

Trump's claim contrasts sharply with the argument his attorneys have presented to the New York Court of Appeals.

"Through hard work, talent and luck, I currently have almost $500 million dollars in cash, a substantial amount of which I intended to use in my campaign for president," Trump posted Friday.

The former president's defense has attempted to buy him time to come up with the full bond by requesting a stay in the judgment. When that failed, they leaned on the argument that the penalty is excessive and impossible for Trump to pay.

Trump doubled down on the criticism of the penalty, calling it a "shocking number" and "coupled with [Judge Arthur Engoron's] crazy interest demand."

Trump is meanwhile working on a deal to sell his social media company, Trump Media and Technology Group, for an estimated $3 billion. The company owns the Truth Social platform.

Digital World Acquisition Corp. approved a merger with Trump's company on Friday. The group intends to take the media company public.

The merger is expected to be completed as early as next week. Trump has until Monday to pay the civil fraud judgment in full.

Trump will own 58.1% of the company that will be referred to as Trump Media and Technology Group, according to a filing with the Securities and Exchange Commission. However, the lock-up agreement prevents "significant shareholders" from selling or transferring their shares for six months.

The Trump Organization, the former president and his sons, Donald Trump Jr. and Eric Trump, were found guilty of reporting fraudulent values for their assets, inflating those values by millions. They were ordered to pay $355 million with interest, which is estimated to total $454 million or more.

Donald Trump is also barred from doing business in New York for three years. His sons are barred for two years.

Despite Trump's claim that he would use his own money to fund his campaign, disclosures to the Federal Elections Commission show that he has not contributed since 2016. He gave $1 to WinRed in 2023, another $3 in 2022 and $38.50 in 2021. He made no contributions between November 2016 and January 2021.