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Trump had threatened last week to sue the Times after it published articles related to a sexually suggestive note and drawing that was given to disgraced financier Jeffrey Epstein for his 50th birthday in 2003 and appears to have been signed by Trump.
Trump and his aides have denied that he was involved in the creation of the note.
In a post overnight on his social media platform, Truth Social, the president accused the Times of making false statements about him, his family and his businesses, though he did not elaborate on the allegations.
“Today, I have the Great Honor of bringing a $15 Billion Dollar Defamation and Libel Lawsuit against The New York Times,” Trump wrote.
“The New York Times has been allowed to freely lie, smear, and defame me for far too long, and that stops, NOW!” he added, while singling out the Times‘ endorsement of Kamala Harris during the last presidential election in 2024.
The lawsuit is the latest in a series of high-profile legal challenges mounted by Trump against major media outlets in what he describes as a broader effort to “restore integrity to journalism”.
The lawsuit would be filed in Florida, Trump said, without providing further details.
CNN reached out to The New York Times for comment.
In a complaint filed in a Tampa federal court, Trump’s lawyers accused the Times of a deliberate pattern of “false, malicious, defamatory, and disparaging” reporting aimed at undermining Trump’s presidential campaign and legacy.
The filing cites previous examples of lawsuits brought by Trump’s lawyers against Disney’s ABC News and Paramount Global’s CBS News, which resulted in multimillion-dollar payouts and public acknowledgments of inaccuracies in their reporting.
It also cited a lawsuit brought in July against The Wall Street Journal and reporters who wrote a story about the collection of letters gifted to Epstein.
A spokesperson for Dow Jones, the Journal’s parent company, said in a statement at the time, “We have full confidence in the rigour and accuracy of our reporting, and will vigorously defend against any lawsuit.”
In the latest lawsuit against the Times, Trump’s lawyers say the “reputational injury inflicted in this case reaches billions of dollars” and confirms they are seeking at least $US15 billion in damages.