President Donald Trump is about to part his ways with the Tim Tebow autographed football helmet of the former Denver Broncos quarterback.
President, on Tuesday, announced that he is going to shut his personal charity down following the allegations from the State Attorney General of New York. The state attorney general office charged Donald Trump with allegations that he has used his “Donald J. Trump Foundation” for his own personal gains over the course of last decade along with using the same foundation for boosting his own presidential campaign back in 2016.
Trump has agreed with the New York Attorney General Barbara Underwood to distribute all of his foundation’s assets, which totaled to about 1.8 million dollars at the end of the year 2017, according to the tax forms. The proceeds from these sales will be distributed to other non-profit organizations. Foundation is also ordered to sell its all remaining assets and donate these proceeds as well.
The foundation owns three items of importance, which include Two Large portraits of Trump and a signed Tebow Helmet. Trump bought this helmet at a charity auction held back in 2012 for a sum of 12000 dollars and at that time made a huge splash in the gossip columns.
However, Washington Post later released the news that Trump did not buy this helmet from his own money and instead used his foundation’s money to buy it. The money he used is mostly being backed by the donations of other people.
Trump in total, spent about 42000 dollars for one helmet and two portraits. These items are now valued at three times their original price at 975000 dollars.
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