Available records show no large, appeal-driven reduction of Rudy Giuliani’s defamation judgment to Ruby Freeman and Shaye Moss, and the judgment was ultimately treated as effectively satisfied at or near its original amount.

Key facts:

1. Size of the original judgment and only minor reduction:

   • In December 2023, a D.C. jury awarded Freeman and Moss $148,169,000 in compensatory and punitive damages against Giuliani.
   • The parties later stipulated to a small setoff related to a prior settlement with another defendant (OAN), and the final judgment entered on December 18, 2023 reduced the award to $145,969,000—about a 1.5% decrease, not a “massive percentage.” (caselaw.findlaw.com)

2. No successful appeal reducing the judgment:

   • Giuliani noticed an appeal to the U.S. Court of Appeals for the D.C. Circuit (Case No. 24‑7021) in 2024, but district‑court materials from October 22, 2024 explicitly note that this appeal was still pending at that time, with the full judgment amount registered and being enforced in other courts. (dockets.justia.com)
   • Separately, Judge Beryl Howell rejected Giuliani’s effort to overturn or reduce the nearly $146 million in penalties, expressly upholding the verdict and leaving the damages total at $145,969,000. (newsweek.com)
   • There is no reported appellate decision from the D.C. Circuit or any other court cutting the damages by a large percentage.

3. Enforcement and settlement, not a large judicial haircut:

   • Through 2024 and early 2025, the focus of litigation shifted to enforcement of the judgment (contempt findings, attempts to reach his assets), not to reducing its size. (reuters.com)
   • In January 2025, Giuliani reached a settlement with Freeman and Moss resolving the enforcement battle; AP reported that the women had previously obtained a $148 million judgment and that the settlement’s actual payment terms were undisclosed, while allowing Giuliani to retain certain assets. (apnews.com)
   • Reuters subsequently reported that Giuliani had “fully satisfied” the $148 million judgment pursuant to that settlement, indicating that, at least as characterized publicly and in court, the judgment was treated as satisfied rather than judicially slashed. (reuters.com)

Putting this together: the only formal reduction was a small, stipulated setoff from about $148.17M to $145.97M, far from the “massive percentage” decrease Jason predicted. No appellate ruling significantly lowered the award in the “near future” after December 2023; instead, the judgment was enforced and then resolved via a settlement described as fully satisfying the original judgment. On the public record, the prediction that the judgment would “come down … by some massive percentage” on appeal is therefore wrong.