cberg wrote:
What I don't understand is how such an infamously shrewd businessman...
His wealth was from...his father, through inheritance.
In 1974 he became the president of his father's real estate corporation.
In 1990 it was $5-8.8 Billion in debt. He was bailed out by his financing banks.
In 1991 the The Trump Taj Mahal declared bankruptcy.
In 1992 the Trump Plaza Hotel went under.
In 1995 he took his corporation public, boosting his coffers with investor's money.
In 2004 the parent company Trump Hotels and Casinos Resorts went bankrupt after accruing $1.8 billion in debt.
In 2009, the restructured & renamed Trump Hotels and Casinos Resorts then called, 'Trump Entertainment Resorts' again filed for bankruptcy.
So he originally gained his wealth via inheritance and has since been forced to file for Chapter 11 *four* times. While that may be considered, "shrewd" by some (especially since very little of it was actually his money), would anyone really want him running an entire nation like that?
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“For small creatures such as we the vastness is bearable only through love.”
―Carl Sagan
Last edited by Edenthiel on 27 Nov 2015, 11:01 pm, edited 1 time in total.