Donald Trump sells ‘very special’ private jet worth $10 m amid surging legal bills and falling Truth Social stock - Hindustan Times
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Donald Trump sells ‘very special’ private jet worth $10 m amid surging legal bills and falling Truth Social stock

May 28, 2024 10:08 AM IST

Republican mega donor, Mehrdad Moayedi, an Iranian-American construction and development tycoon has bought Trump's Cessna jet

After facing nearly $100m in legal judgments this year, Donald Trump’s company decided to sell one of his private jets, according to public filings. The buyer is a Republican mega donor who contributed nearly $250,000 to a political committee linked to Trump’s 2020 campaign.

Former U.S. President and Republican presidential candidate Donald Trump raises his fist as he looks on during the NASCAR Cup Series Coca-Cola 600 at Charlotte Motor Speedway on May 26, 2024 in Concord, North Carolina. (Getty Images via AFP)
Former U.S. President and Republican presidential candidate Donald Trump raises his fist as he looks on during the NASCAR Cup Series Coca-Cola 600 at Charlotte Motor Speedway on May 26, 2024 in Concord, North Carolina. (Getty Images via AFP)

Donald Trump sells favourite Cessna jet

The plane, a 1997 Cessna jet, is valued around $10 million by evoJets. However, the specific terms of the transaction remain undisclosed. Federal Aviation Administration records indicate that on May 13, the aircraft’s registration shifted from the Trump Organization’s DT Air Corp to MM Fleet Holdings LLC, a Texas-based company. This entity is associated with Mehrdad Moayedi, an Iranian-American construction and development tycoon from Dallas who operates Centurion American Custom Homes.

Who is Mehrdad Moayedi?

Moayedi, who founded Centurion in 1990, has developed thousands of homes and collaborates with both public and private entities. He is also a notable Trump donor. Federal campaign finance records reveal that in 2019 and 2020, he donated $245,000 to Trump Victory, a committee that fundraised for the Trump campaign, the Republican National Committee, and various state GOP parties.

Moayedi contributed the maximum allowable amount of $5,600 to Trump’s campaign and has supported other GOP candidates and committees, 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 has showcased Cessna on the Trump Aviation website as a “very special feature within the Trump Aviation fleet. Its sale signifies the financial strains Trump is trying to hide amid a high stake presidential election. Trump's “rocket in the sky,” can fly at speeds up to Mach .92 and altitudes as high as 51,000 feet. It is one of the fastest in the world. With a Trump Crest on its exterior the jet boasts top-of-the-line interiors, seats nine passengers comfortably.

Trump's rising financial worries

Trump’s financial woes are exacerbated by skyrocketing legal fees and the declining value of Trump Media & Technology Group stocks. According to The Daily Beast, Trump’s legal expenses have been a major drain on his finances, contributing to the decision to liquidate assets like his private jet.

To cover the enormous legal bills, estimated at more than $100 million, Trump is also using his campaign funds.

Former President's bet to raise money and stabilise finances with Trump Media & Technology Group listing also did not bear fruit. His company lost more than $300 million during the first quarter and generated very little revenue.

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