The company behind Trump’s $175 million bond deal shares insights into its creation

Knight Specialty Insurance, a California-based company known for providing subprime auto loans to car buyers with weaker credit scores, recently underwrote former President Donald Trump’s $175 million bond in New York. Don Hankey, the chairman and majority shareholder of Knight Specialty Insurance, revealed to CNN that the deal happened quickly and that Trump posted all cash as collateral for the bond. Despite their previous business dealings with Trump, Hankey and Knight Specialty Insurance continue to support him and his endeavors.

In 2022, Axos Bank, a California lender in which Hankey is a leading shareholder, loaned Trump $100 million to refinance the mortgage on Trump Tower. At the time of the loan, Hankey was not aware of it. However, he has since confirmed to CNN that he and his family have supported Trump’s presidential campaigns in the past and intend to do so again in 2024. While Hankey has not been contacted directly by the president, Eric Trump did reach out to thank him for the business.

This recent deal is not the first time that Hankey and Trump’s businesses have been connected. In 2018, Knight Specialty Insurance was acquired by a company controlled by Jared Kushner’s family for $935 million. The acquisition was later investigated by federal regulators who found no evidence of wrongdoing but raised concerns about conflicts of interest due to Kushner’s role in the White House at the time. Despite this investigation, Hankey remains committed to supporting Trump and his businesses.

By Riley Johnson

As a content writer at newsmol.com, I dive into the depths of information to craft compelling stories that captivate and inform readers. With a keen eye for detail and a passion for storytelling, I strive to create engaging content that resonates with our audience. Whether it's breaking news, in-depth features, or thought-provoking opinion pieces, I am dedicated to delivering high-quality, informative content that keeps readers coming back for more. My goal is to bring a fresh perspective to every article I write and to make a meaningful impact through the power of words.

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