Donald Trump Money problems
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Donald Trump

The president of the United States of America wasn't alway wealthy

Donald Trump, President of the Unated States of America, you all know who he is. But did you also know that he filed for bankruptcy for six times as well? 1991 – 1992 (three times) – 2004 and in 2009 They were all corporate bankruptcies rather then personal bankruptcies. This means that his personal financial situation was significantly less effected. 

 

In the years 1991 and 1992 there were four bankruptcies. Especially the first one hit his personal financial situation. There was a financial construction with junk bonds with a high interest rate. He wasn’t able to pay the interest anymore. These four, all casino’s, resulted in a personal debt for Donald Trump of US$ 900 million. 

 

By the mid-nineties he reduced most of his debt by selling his yacht, airline and his stake in some other businesses.

 

He managed to get out of debt and get wealthy again. In 2019 his net worth is estimated somewhere around US$ 3 billion. He managed to get form almost a billion in debt to 3 billion net worth in less then 25 years. 

 

This is not a political statement, it’s the numbers that count. Regardless how he managed to accomplish it, dubious or not, he did it.