Trump Sells
Republican mega donor Mehrdad Moayedi, an Iranian-American construction and development tycoon, has acquired Donald Trump’s beloved Cessna jet amid the former president’s financial challenges. Trump’s company opted to sell the private aircraft following substantial legal judgments totaling nearly $100 million this year. The buyer, Moayedi, contributed almost $250,000 to a political committee associated with Trump’s 2020 campaign.
The Cessna jet, a 1997 model valued around $10 million by evoJets, underwent the transaction with specific terms undisclosed. Federal Aviation Administration records indicate that on May 13, the aircraft’s registration transitioned from the Trump Organization’s DT Air Corp to MM Fleet Holdings LLC, a Texas-based company associated with Moayedi. Moayedi, the founder of Centurion American Custom Homes, a prominent developer since 1990, has worked on numerous residential projects in collaboration with both public and private entities.
A significant donor to Republican causes, Moayedi has supported Trump’s campaign and contributed substantially to Trump Victory, a committee fundraising for the Trump campaign, the Republican National Committee, and state GOP parties. He also made sizable donations to other GOP figures such as Senator Ted Cruz and Nikki Haley, as well as Senator Kyrsten Sinema, an Arizona independent.
Trump’s Cessna jet, highlighted on the Trump Aviation website as a prized asset, symbolizes his financial challenges amidst a presidential election. The aircraft, adorned with a Trump Crest, boasts luxurious interiors and seats nine passengers comfortably. However, Trump’s financial concerns have escalated due to mounting legal fees and the diminishing value of Trump Media & Technology Group stocks. Legal expenses, estimated at over $100 million, have prompted Trump to liquidate assets like his private jet.
Despite efforts to stabilize finances through fundraising and business ventures, such as the Trump Media & Technology Group listing, Trump’s company faced significant losses, exceeding $300 million in the first quarter, with minimal revenue generated. To alleviate financial strain, Trump has resorted to utilizing campaign funds to cover legal expenses, reflecting the depth of his financial challenges amidst legal battles and business setbacks.
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