After incurring nearly $100 million in legal judgments this year, Donald Trump’s company decided to sell one of his private jets, as revealed by public records. The buyer is a Republican mega-donor who contributed almost $250,000 to a political committee connected to Trump’s 2020 campaign.
Donald Trump sells favorite Cessna jet
The aircraft, a 1997 Cessna jet, is estimated to be worth about $10 million by evoJets. However, the exact terms of the deal have not been disclosed. Records from the Federal Aviation Administration show that on May 13, the jet’s registration transferred from the Trump Organization’s DT Air Corp to MM Fleet Holdings LLC, a Texas-based firm. This company is linked to Mehrdad Moayedi, an Iranian-American construction magnate from Dallas who runs Centurion American Custom Homes.
Who is Mehrdad Moayedi?
Moayedi, who established Centurion in 1990, has built thousands of homes and works with both public and private partners. He is also a notable Trump donor. Federal campaign finance records show that in 2019 and 2020, he donated $245,000 to Trump Victory, a committee that raised funds for the Trump campaign, the Republican National Committee, and various state GOP parties.
Moayedi gave the maximum allowed amount of $5,600 to Trump’s campaign and has supported other GOP candidates and groups, including the RNC, Senator Ted Cruz (R-TX), and Nikki Haley. In 2022, he also donated the maximum primary contribution of $2,900 to Senator Kyrsten Sinema, an Arizona independent.
All about Trump’s Cessna Jet
Trump highlighted the Cessna on the Trump Aviation website as a “very special feature within the Trump Aviation fleet.” Its sale indicates the financial pressures Trump is trying to manage amid a high-stakes presidential campaign. Trump’s “rocket in the sky” can reach speeds up to Mach .92 and altitudes as high as 51,000 feet, making it one of the fastest jets worldwide. Adorned with a Trump Crest on its exterior, the jet features luxurious interiors and can seat nine passengers comfortably.
Trump’s rising financial worries
Trump’s financial troubles are worsened by soaring legal fees and the falling value of Trump Media & Technology Group stocks. According to The Daily Beast, Trump’s legal costs have significantly drained his finances, leading to the decision to sell assets like his private jet.
To manage the hefty legal bills, estimated at over $100 million, Trump is also using his campaign funds.
The former President’s attempt to raise money and stabilize finances with the Trump Media & Technology Group listing also did not succeed. His company lost more than $300 million during the first quarter and generated very little revenue.
