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An Overview of Donald Trump’s Brushes with Bankruptcy

Presidential hopeful Donald Trump has been criticized for his brushes with bankruptcy on more than one occasion, including a few questions during his recent debate. A common question being, “how can he still be worth so much after filing bankruptcy so many times?” The answer is that he has never filed bankruptcy; at least, not personal bankruptcy. The fact is that Trump has only ever filed for business bankruptcy. First, let’s go over the history. Mr. Trump first earned a lot of that money in the casino business. His hotel and casino properties, The Trump Taj Mahal and Trump Plaza, filed separate corporate bankruptcies in 1991 and 1992 respectively. These two companies, along with Trump Marina (now the Golden Nugget), reorganized into one entity, Trump Hotel & Casino Resorts. This umbrella company held onto the debts (about $1.9 billion) of the original properties, and eventually fell under that same pressure…
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