It was the biggest and most luxurious casino at that time, which was built on 17 acres of land. Trump was forced to sell his private yacht and airlines to recover half of the cost and pay off the debts. The place was unable to generate enough revenue and struggled hard to cover all the maintenance costs of this super luxurious resort at the time of recession. It started its operation in April 1990 and went bankrupt within a year during the summer of 1991. The Trump Taj Mahal was a $1.2 billion casino resort located in Atlantic City. The details are either taken from his interview or other reliable sources. In this article, we will elaborately discuss all of his corporate bankruptcies. He reported bankruptcy of his three casinos in the early 90s when various places in the United States were going through tough times due to the Gulf War situation.Īfter that, he declared the Manhattan Hotel and two other casino holding companies to be bankrupt. Evaluating the BankruptciesĮven though Trump reported six corporate bankruptcies, it is interesting to note that he never declared himself to be personally bankrupt. It means his bankruptcy’s main burden fell on the investors and other stakeholders associated with his companies. He shifted his debt to the casino slots, earned millions of dollars in salary and other payments. However, people working with him say that he efficiently used the federal laws in his favor, which is a clear depiction of his keen business understanding.Īccording to several research and interviews conducted, it was found that Trump invested a minimal amount of his own money in the venture.

As stated by the critics, one of the main reasons behind this is his management strategies and reckless attitude towards the work. He stated a net worth of $10 billion from his various companies, but many of them went bankrupt. Donald Trump, the ex-president of the United States, has always been projected as a successful businessman.

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