Did You Know Billionaire Donald Trump Filed For Bankruptcy 4 Times?

Donald Trump is a world famous billionaire, famous for both his wealth and political campaigns. He is amongst some of the richest people in the world. So how is he still a billionaire following 4 bankruptcies?

Donald Trump Filed For Bankruptcy

All 4 bankruptcies were Chapter 11 reorganisations. This means the businesses were not completely shut down but restructured in order to save them.

The thing is, it was his businesses that filed for bankruptcy, not him personally. It was 4 different businesses consisting of hotels and casinos. The first was in 1991, The Trump Taj Mahal casino in Atlantic City which managed to rack up a debt of nearly $3 billion!

The second was the Trump Plaza Hotel in 1992. With this one there was a debt of $550 million. Bankruptcy was filed for once again. That’s 2 in 2 years.

In 2004, Trump Hotels and Casinos Resorts filed for bankruptcy of around $1.8 billion. This was accrued across 4 different casinos including a riverboat casino in Indiana.

The 4th ( and we pray the last) was in 2009 when Trump Entertainment Resorts, which by the way was formerly Trump Hotels and Casinos Resorts so a name change didn’t help, missed a bond payment of over $53 million. Mr Trump’s stake was reduced to 10 percent as a result and he resigned from his position as chairman of the company.

So there you go, the 4 times when billionaire Donald Trump was err…Trumped?

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