Sunday, August 23, 2015

Donald Trump has filed for bankruptcy four times


Donald Trump is worth some $4bn, according to Forbes, but he has filed for bankruptcy four times – in 1991, 1992, 2004 and 2009. However, they have all been corporate bankruptcies rather than personal ones, meaning his finances have not been significantly affected.

Trump's personal finances did take a hit the first time he filed for corporate bankruptcy after he financed the construction of the Trump Taj Mahal with junk bonds and was unable to pay the high interest.

This resulted in personal debt of around $900m, claims Forbes.

This was the only bankruptcy that affected Trump personally, and by the mid-90s, he’d reduced most of the debt by selling his yacht, airline, and his stake in some other businesses.

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