Former President Donald Trump faced financial challenges and a damaged reputation as he left the White House, but a new source of funding emerged to support his business empire. Axos Bank and its major shareholder, California billionaire Don Hankey, have collectively provided over $500 million in financing to Trump, helping him pay off debts and secure profits.
The financial assistance enabled Trump to make a $175 million down payment on a civil fraud penalty and escape a lease on his money-losing former hotel in Washington. While Axos Bank and Hankey have stated that the deals offer them financial benefits, concerns have been raised about potential conflicts of interest if Trump were to return to the White House.
