"Billionaire Don Hankey's Firm Backs Trump's $175 Million Bond in Fraud Trial"

Don Hankey, an 80-year-old billionaire who made his fortune through car dealerships and subprime auto loans, provided a $175 million bond for former President Donald Trump's New York civil fraud case through his insurance company, Knight Specialty Insurance. Hankey, who has never met nor spoken with Trump, is richer than the former president and has a history of providing financing to subprime borrowers. The bond, essentially a placeholder, will guarantee payment if the judgment against Trump is upheld on appeal, with Trump potentially paying up to $3.5 million annually for the bond guarantee.