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It wasnt that long ago, just before the 2016 presidential election to be exact, that Donald Trump made the following claim: His net worth was in excess of TEN BILLION DOLLARS. 

The Donalds humblebrag came in a press release as he prepared his first and successful run for the White House.

Presumably, he used all caps for emphasis.

His wealth and success as a businessman (real estate and reality TV) made him uniquely suited to be president and fix the countrys manifold problems that the political class couldnt. 

Yes, we all know about Trumps propensity to be a blowhard but even by his bloviating standards, it is hard to square whats happening now.

He has been reduced to begging banks, and even his loyal MAGA supporters, to pay down what should be a pittance for someone with his alleged wealth: A $454 million civil judgment from a New York state judge in the dubious civil bank-fraud case brought by hyper-ambitious state Attorney General Tish James. 

James case is a joke on so many levels, its still a mystery how she found a sentient judge to agree with her.

Shes claiming Trump exaggerated the value of his condo in Trump Tower on a loan application with Deutsche Bank, which had no complaints about the deal because the bank did its own due diligence.

Trump was good for the money. 

The judge in the case, Arthur Engoron, may be sentient or may not be.

What is certain is that he fits comfortably into the mold of a political hack almost as much as James, who ran for office promising the Democratic base to find a crime, any crime, for which to bust Trump as he geared up to run for president once again even if its a victimless one. 

Victimless but serious: Trump has until Monday to either come up with the money his lawyers say he doesnt really have or secure a bond to cover that amount, which no bank or insurance company seems willing to do as this column goes to press.

He could also ask his coterie of billionaire pals for the money, but for now, they also dont seem too eager to pony up.

Late Friday, Trump said he miraculously came up with the cash, but doesnt want to use it. 

So whats going on with all those many billions of dollars Trump was supposed to have at his disposal, and what will happen Monday if he doesnt meet the courts demands? 

First, if you know anything about what Trump thinks hes worth and what others say hes worth, its been a fraught relationship.

The Donald has been known to badger Forbes magazine, which publishes a popular annual ranking of the worlds richest people, to inflate their estimates of his worth.

He once unsuccessfully sued a reporter who speculated hes worth significantly less than $1 billion. 

Forbes, as of September 2023, estimates Trumps net worth at $2.6 billion which makes him still very wealthy.

On top of that, Trump is looking at a looming massive payday, as the investment vehicle holding his Truth Social social-media platform is set to go public.

It could provide a huge payday for Trump, as much as $3.4 billion. 

But there are complications.

The deal to bring Truth Social public through a merger with a so-called SPAC has attracted some serious litigation, and according to the companys regulatory filings, Trump wouldnt be able to sell his shares for six months.

Shares of the SPAC, known as Digital World Acquisition, have more than doubled to around $37 in recent months with Trump wrapping up the GOP nomination for this years presidential election against Sleepy Joe Biden. 

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Yet Truth Social has a fraction of the traffic of Elon Musks X and if X is having a hard time making money (Musk keeps complaining it does) that will go double for Truth Social.

Trumps stake could be worth far less when he can cash it in. 

Meanwhile, his existing shares probably cant be used as collateral for a loan, I am told by securities lawyers; ditto for his largely illiquid real estate holdings in New York where commercial real estate isnt exactly a booming business.

Who knows what he could get for Trump National Doral in Miami or even the swanky Mar-a-Lago golf and country club in Palm Beach if he had to sell on the spot. 

Most of all, Trump has always had little available cash, even less so now after doling out $83 million to satisfy the judgment in the E.?Jean Carroll defamation case hes also trying to appeal.

So what does a cash-poor billionaire staring at a $454 million judgment to do?

Pray for a change of heart from Tom Barrack, Bernie Marcus or Howie Lorber, his billionaire pals who could write the check and keep Tish James from chaining the front door of Trump Tower come Monday morning.

Maybe beg Musk for a few bucks. 

Or maybe pray that James seizes his Westchester properties and stops there (highly doubtful, knowing James).

Or agrees to less money because she is worried that Trump dumping all his New York properties at once could further depress the citys commercial real estate market. 

Trump could play real hardball which he certainly knows how to do, given his long and tortured history of doing business.

As I first reported, Trump advisers are weighing whether to turn over all the properties to James and let her figure out the complexities of ownership, including his limited partners, until she gets to Trumps share. 

By the time that happens, the case may have been successfully overturned on appeal for all its ludicrousness.

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Direct trains from UK to Germany ‘one step closer’, but nothing yet on journeys to Berlin

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Direct trains from UK to Germany 'one step closer', but nothing yet on journeys to Berlin

The UK has come a “step closer” to having direct, high-speed rail connections to Germany, the Department for Transport has said.

A partnership between international train operator Eurostar and German national rail company Deutsche Bahn (DB) has “set the foundation” for a fast rail connection between Britain and Europe’s largest economy, the businesses announced on Thursday.

It means the companies are exploring options to offer direct services between London and Cologne and Frankfurt.

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Such direct services would mean reaching Cologne in four hours, and Frankfurt in less than five from the capital city.

At present, rail passengers have to change trains in Brussels to reach those cities. It takes at least five-and-a-half hours to reach Frankfurt, and four-and-a-quarter hours to arrive in Cologne.

Cologne Central Station could soon be served by trains from the UK. Pic: AP
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Cologne Central Station could soon be served by trains from the UK. Pic: AP

The proposed services would use existing lines and infrastructure. Passengers would board a double-decker Eurostar in London, and be spared a change of trains on the continent.

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The ambition to create such links had already been announced, as had a plan to allow direct rail travel from London to Geneva, but the partnership between DB and Eurostar had not.

Will it definitely happen?

Details and technicalities are yet to be worked out, with the German train company highlighting that any services are contingent upon “the necessary technical, operational, and legal prerequisites being met”.

“Implementation by individual railway companies is considered extremely difficult,” DB said.

“Joint partnerships are therefore crucial.”

What about Berlin?

Nothing was announced for a direct service to Berlin on Thursday, despite Transport Secretary Heidi Alexander singling out the benefits and prospect of journeys from London to the German capital in July.

“The Brandenburg Gate, the Berlin Wall and Checkpoint Charlie – in just a matter of years, rail passengers in the UK could be able to visit these iconic sights direct from the comfort of a train, thanks to a direct connection linking London and Berlin,” she said at the time.

A high-speed Eurostar train heading towards France. File pic: PA
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A high-speed Eurostar train heading towards France. File pic: PA

Shorter journeys, like those to Frankfurt and Cologne, are seen as more commercially viable than the current 10-hour train journey time to Berlin.

Market studies conducted by Eurostar found travellers are comfortable with international rail journeys of up to six hours.

“Our research indicates that many would choose rail over air for trips within this timeframe,” Eurostar told Sky News. “This, combined with strong business and leisure demand on this route, is why we have prioritised London to Frankfurt.”

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The Department for Transport said the focus on the two German cities was a commercial decision by Eurostar and DB, and the UK-Germany rail taskforce, established over the summer, could pave the way for further route announcements.

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Politics

Reeves between a rook and a hard place after claims she ‘made up’ chess championship

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Reeves between a rook and a hard place after claims she 'made up' chess championship

As an opening gambit at PMQs, Kemi Badenoch attacked Labour’s knight, the prime minister, over his Treasury queen, Rachel Reeves.

“We now know the black hole was fake, the chancellor’s book was fake, her CV was fake – even her chess claims are made up,” said the Tory leader.

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“She doesn’t belong in the Treasury; she belongs in la-la land.”

Chess claims made up? Where did that attacking move from Kemi come from? Hasn’t the chancellor told us for years that she was a national chess champion in 1993?

Indeed she has. “I am – I was – a geek. I played chess. I was the British girls’ under-14 champion,” she declared proudly in a 2023 interview with The Guardian.

She posted a video showing her playing chess in parliament and before last week’s budget posed for photos with a chessboard.

More on Rachel Reeves

But her chess champion claim has been disputed by a former junior champion, Alex Edmans, who has accused her of misrepresenting her credentials.

“Her claim was quite specific,” Edmans, now a professor of finance at the London Business School, told Ali Fortescue on the Politics Hub on Sky News.

“She said she was the British girls’ under-14 champion. There was one event that can go on that title, which is the British Championship. And in the year that she claimed, it was Emily Howard who won that title instead.

“She did indeed win a quite different title. There was a British Women’s Chess Association championship, but that’s a more minor title. I’ve won titles like the British squad title, but that’s not the same.

“Just like running a marathon in London is not the same as the London Marathon, there was one event which is very prestigious, which is the British Championship.

“So the dispute is not whether she was a good or bad chess player. That shouldn’t be the criterion for a chancellor. But if you weren’t the British champion, you shouldn’t make that statement.”

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Oh dear! So now, along with allegations of plagiarism, a dodgy CV and “lying” – according to Ms Badenoch – about the nation’s finances, the chancellor is between a rook and a hard place.

Or is she? “This story is absolute nonsense,” a Treasury mate told Sky News. No word from the No.10 knight, Sir Keir Starmer, or his Downing Street ranks, however.

Emily Howard, as it happens, is now an accomplished composer, having graduated from the chessboard to the keyboard.

The chancellor’s opponents, meanwhile, claim her budget blunders means the Treasury queen has now become a pawn, there for the taking.

But since Rachel Reeves did indeed win a chess title, just not the one she claimed, her supporters insist she can justifiably claim to have been a champion.

So it’s too soon for Kemi Badenoch and the Conservatives to claim checkmate. The dispute remains a stalemate. For now.

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How record-breaking Reform UK donor Christopher Harborne made his millions

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How record-breaking Reform UK donor Christopher Harborne made his millions

Who is the man behind the record-breaking multi-million pound donation to Reform UK?

Christopher Harborne gave Nigel Farage‘s party £9m in August, according to new data published by the Electoral Commission. The contribution ranks as the largest ever single donation from a living person in UK political history.

Born in Britain, Mr Harborne is a businessman who owns several companies, employing more than 600 people worldwide, according to a court filing dated last year.

Reform UK leader Nigel Farage
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Reform UK leader Nigel Farage

Yet he’s not resident in the UK, and is also a citizen of Thailand, where he is known as Chakrit Sakunkrit, and has lived and worked there for 20 years.

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Nonetheless, he has a long history of political donations to British parties.

Electoral Commission data shows he has previously donated to the Conservatives, gifting them £10,000 in May 2001, and continuing to support them with close to £2m in donations by October 2022.

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Christopher Harborne, furthest right, joins Boris Johnson, left, during his visit to Lviv, Ukraine. Pic: City of Lviv
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Christopher Harborne, furthest right, joins Boris Johnson, left, during his visit to Lviv, Ukraine. Pic: City of Lviv

But there was been some overlap with his backing of Reform, which first received a donation from him in April 2019, for £200,000.

He’s also donated to Mr Farage personally, giving £27,616.76 in January so the Reform leader could attend the second inauguration of Donald Trump.

He paid another £32,836 for the Reform and a member of staff to fly to the US following the attempted assassination of Trump in July last year.

And he gave one of the biggest donations ever made to an individual UK politician when he backed Boris Johnson to the tune of £1m in 2022.

Christopher Harborne sits second left from Boris Johnson, centre, during his visit to Lviv, Ukraine. Pic: City of Lviv
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Christopher Harborne sits second left from Boris Johnson, centre, during his visit to Lviv, Ukraine. Pic: City of Lviv

He served as an advisor to Mr Johnson during the former PM’s trip to Kyiv in 2023.

His latest cash injection to Reform UK breaks the previous record for a donation from a living person, which was £8m from supermarket tycoon Lord David Sainsbury to the Liberal Democrats in 2019.

The largest ever single donation to a UK political party was from his cousin, Lord John Sainsbury, who left more than £10.2m to the Conservatives in 2022 in his will.

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Electoral Commission records show Mr Harborne has made at least £24.5m in UK political donations since 2001.

But where is his money from?

Several of his businesses come under the banner of AML Global, including one registered in the UK, which has a London address listed with Companies House.

AML Global is described in a court filing as an international jet fuel broker that works with oil companies, and which has been awarded $39m (£29m) worth of contracts by the US Department of Defense.

Harborne was also an early investor in Bitcoin and other cryptocurrencies.

On his LinkedIn page, the businessman further describes himself as chair of Sherriff Global Group.

His profile shows he was educated at INSEAD business school, Cambridge University, and Westminster School.

Figures from the Electoral Commission released this week show Reform UK reported the most donations of any party in the third quarter of 2025, a total of £10,526,846.

By contrast, the Conservatives reported £7,038,861 in the same period, Labour £2,564,786, and the Liberal Democrats £2,174,712.

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