Besides Jones and his lawyer absolutely botching his defense and basically giving up the case (and pissing off the courts as I understand it, which is a bad fucking idea and usually also leads to larger fines), the $1.4 billion is just what Jones managed to rack it up to before entering bankruptcy proceedings, which froze his debt collectors out for a bit.
Alongside the class action, Jones was iirc also facing several separate lawsuits, so what you're seeing here is multiple lost lawsuits (I think he lost 4?) adding up.
The bankruptcy also doesn't wipe the slate clean for Jones afaiu, because he specifically was found to be malicious in his behavior. Court debts aren't wiped in that situation. He's still on the hook for that.
Jones lawyers were so bad that part of me believes they intentionally sabotaged him. His lawyers (or an assistant on the team) sent an image of his cell phone data to the prosecuting attorneys on accident, which means 2 years of his text messages were used against him. His lawyers could have taken it back but failed. It's insane how this trial went down.
Surely he just waits for the Trump pardon in 2028? Or is this something he can't be pardoned for?
I don't the president can pardon away a lawsuit. He could pardon away a crime, and sometimes the crime can be a basis for a civil lawsuit, but in this case I don't think anyone has seriously considered criminally charging Jones for anything here.
It's a civil lawsuit.