Bloomberg: Trump to lose $103 million if he runs for president in 2024

As Donald Trump considers when to announce his candidacy for president in 2024, he faces a costly quandary.

As head of the Save America political action committee, he controls $103 million, making him the Republican Party kingmaker. Once he declares a run -- moving from kingmaker to the possible king -- federal law puts the money beyond his reach, according to Bloomberg.

The former president has been indicating for months that he will make another White House bid. He’s said he’s made his decision but can’t disclose it — at least not until after November’s midterm elections — because of those campaign finance restrictions.

When he announces, he’s limited to taking just $5 000 of his leadership PAC money for his campaign committee, which would begin with a starting balance of zero.

At the same time, declaring his candidacy might spur his loyal donors to fill his campaign coffers. Trump has shown he can raise money quickly: In the three weeks after losing the 2020 election, he joined with the Republican National Committee to raise $207.5 million while falsely claiming widespread fraud led to his defeat.