How Long Would It Take The Average American to Pay Off Trump’s $175 Million Fine?
Donald Trump has posted bond on the $175 million dollars he is currently set to owe the State of New York (pending appeal). While the former president was able to procure a bond for the six figure fine, the average US worker would likely struggle to find somebody to cover that amount for them. With that in mind we decided to take a look at how long it would take the average American to pay off that fine on their own. While we were at it we took a look at how long it would take some famously wealthy individuals and athletes to pay off the fine (and how long it would take Trump himself using only proceeds from his latest piece of merchandise). Below you can find the results.
The Average American
The average salary in the US at the end of 2023 was $59,384 per year. At that rate, if a person were to dedicate their entire pre-tax income to the fees, it would take 2,946.9 years to pay off a $175 million dollar fine. With the average life expectancy in the United States just over 76 years, it would take nearly 12 lifetimes for a person to pay off such a fee. But the average American making $59,384 will also pay somewhere around $10,000 in taxes. Rounding to an even $49,000 per year in net pay, it would take another 600 years to pay off the debt. Dedicating their entire post-tax salary the average American would take just over 3,571 years to pay it all off. That’s over 14 times longer than the United States has existed as an independent nation.
Notable Billionaires
Before we dive into notable billionaires, check out our ultimate guide to best online casinos and get in on the action today and you can also explore our extensive collection of the best online casinos bonus codes.
Former president Donald Trump is not the average American making $59,384 per year. The real estate mogul is worth billions of dollars, so it is only fair to compare him to his fellow billionaires. Here’s how long it would take some of the richest people in the United States to pay off The Donald’s fines.
Amazon founder Jeff Bezos is reported to make $7,990,868 per hour. At that rate he needs to work 21.9 hours to pay off the $175,000,000 fine. If he works 8 hour days, it would take him just over two and a half days.
Tesla founder and X owner Elon Musk brings in a smaller hourly rate. He is reported to make $2,270,833.33 per hour. He would need to work 77 hours to cover the fine. That would be just under two work weeks of five 8-hour days.
Warren Buffet brings in a comparatively measly $1,541,640 per hour. At that rate he needs to work 113.5 hours to reach $175 million. That would be nearly three full work weeks. That’s a long time for a billionaire to have to work to cover a cost. Although the Berkshire Hathaway founder could also cover the fee out of pocket and lose just .1% of his net worth.
Donald Trump could also try to use his newest merchandise to pay off the fines. The former president is now selling bibles for $59.99 a piece. If he were to get the full proceeds from those sales he would have to sell 2,917,153 bibles to cover the full amount.
Highest Paid Athletes
We also decided to take a look at the highest paid athletes in the NFL, NBA, and MLB stars to see how many games they would have to play to pay off the fine.
In 2024 Patrick Mahomes will be paid $45,750,000 by the Kansas City Chiefs. Spread across 17 regular season games that is $2,691,176 per game. At that rate he needs to play 65 games to reach $175 million. That would be a little under four seasons.
In the NBA, Steph Curry is the highest paid star, set to make $51,915,615 this season. Over an 82 game season that equates to $633,117 per game. Making that much, Curry needs to play 276 games to pay off the fine. That is roughly three and a third seasons.
Finally, in the MLB Shohei Ohtani makes the most, with an average annual value of $70,000,000 per year thanks to his new contract with the Los Angeles Dodgers. That comes out to $432,098 per game. At that rate he needs to play 405 games, or two and a half seasons to pay off the fine. In reality though, Ohtani really needs to play 10 seasons and then sit around for a little over two years and he’ll have the money.
Politics News
