From Casinos to Hotels: Six Times When Donald Trump Filed For Bankruptcy

New York: 78-year-old Republican leer Donald Trump was Wednesday elected US president for a second term in one of greatest political comebacks in American history, four years after an election loss in 2020 that sparked a violent insurrection at US Capitol.

But do you kw Donald Trump 's life has been full of ups and downs? re were times when Donald Trump filed for six bankruptcies in his career span as a businessman.

Six Times Donald Trump Filed For Bankruptcy

Trump Taj Mahal Casi in 1991 

In 1991, Trump used $675 million in credit tes at 14 percent interest to finance development of Taj Mahal casi. In 1992, casi owed $3 billion. Trump ended up owing around $900 million in personal obligations. To keep casi operational, Trump struck a deal with bankers, giving away half of his ownership and stake in company. He sold his plane and 220-foot boat and agreed to a spending limit set by bank in exchange for a cheaper interest rate and more time to make loan payments.

Trump Castle Hotel & Casi in 1992 and Trump Plaza Casi 1992 

Within a year, Donald Trump applied for two more Atlantic City hotel-casis. Trump was n unable to pay principal and interest on bonds. At this point, Taj Mahal was up against hotel-casi Trump Plaza ($550 million in debt) and Trump's Castle ($338 million in debt). Trump gave up a 50% stake in exchange for better terms on money he owed.

Trump Plaza Hotel 1992  

This was year that Trump filed for one more bankruptcy protection over Trump Plaza Hotel. Trump gave up his 49 percent stake in property to secure better terms from lenders on hotel’s debt of over $550 million.

Trump Hotels and Casis Resorts in 2004 

Trump, who h previously combined his three casis and various or properties into one corporation in 2004, sought Chapter 11 bankruptcy protection for entity and filed for around $1.8 billion in debt. Once again, Trump's stake was reduced from 47 percent to 27 percent in order for him to obtain better terms from lenders.

Trump Entertainment Resorts in 2009 

Trump Hotels and Casi Resorts were renamed Trump Entertainment Resorts (TER) after 2004 bankruptcy. In 2009, TER filed for ar bankruptcy with a debt of $1.2 billion. Donald Trump also diluted his ownership to 10 percent and resigned as chairman of board as per regulations.

Trump's Victory in US Elections

Trump secured victory on Wednesday when he surpassed 270 electoral college votes needed to win. In a victory speech before official declaration, he vowed to “put our country first” and bring about a “golden ” for America.

Trump's first term saw him insult and alienate many of United States' longstanding allies. His return to White House, four years after losing office to President Joe Biden , has huge consequences for everything from global tre to climate change to multiple crises and conflicts around world.

Trump has pledged to ramp up a tariff feud with China, United States' growing ecomic and strategic rival. In Middle East, Trump has pledged, without saying how, to end conflicts between Israel, Hamas and Hezbollah. He has also vowed to end Russia-Ukraine war within 24 hours of taking office – something Ukraine and its supporters fear would be on terms favorable to Moscow.

With ncy Inputs