Here at FORBES, we’ve been tracking Donald
Trump‘s wealth since the inaugural Forbes 400 rich list in 1982. Today, we
value him at $2.7 billion, although he claims he’s worth far more. One question
we’re often asked when talk turns to Trump’s fortune: how can a man who has
been bankrupt so many times remain a multi-billionaire? How is he worth more
now, post-bankruptcies? We spoke to bankruptcy lawyers and casino industry
experts — some of whom have had firsthand involvement in Chapter 11 cases
connected to Trump — in an attempt to explain how he has survived corporate
bankruptcies and thrived in the aftermath.
1. It’s nothing personal…
First things first: Donald Trump has filed for
corporate bankruptcy four times, in 1991, 1992, 2004 and 2009. All of these
bankruptcies were connected to over-leveraged casino and hotel properties in
Atlantic City, all of which are now operated under the banner of Trump
Entertainment Resorts. He has never filed for personal bankruptcy — an
important distinction when considering his ability to emerge relatively
unscathed, at least financially.
From Forbes, read it HERE
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