Net Worth :
2.7 billion dollars
Date of Birth :
June 14, 1946
Country of Citizenship :
Donald John Trump is an American businessman. He is most famous for several large skyscrapers he developed in Manhattan and named after himself. Starting with Trump Tower, he developed Trump World Tower along the East River, completed in 2001, and then began construction of the Trump Place apartment complex along the Hudson River that same year. He is also a major figure in the field of casino and hotels in the United States.
Donald Trump has become notable on television for his role on the reality show The Apprentice. He is often known as "A Schoolboy's Dream" and "A Competitor's Challenge", as he is rarely afraid of defining the ways of a prolific American business executive, and thus became an example of one.
The major businesses of Donald Trump have been bankrupt twice. By 1990, the effects of recession left Donald Trump unable to meet loan payments. Although he shored up his businesses with additional loans and postponed interest payments, increasing debt brought Trump to business bankruptcy and the brink of personal bankruptcy. Banks and bondholders had lost hundreds of millions of dollars, but opted to restructure his debt to avoid risking losing even more in a court fight.
On October 21, 2004, Trump Hotels & Casino Resorts announced a restructuring of its debt. The plan called for Trump's individual ownership to be reduced from 56 percent to 27 percent, with bondholders receiving stock in exchange for surrendering part of the debt. However, Trump's personal fortune has not been, in recent years, affected by his financial troubles with hotels and casinos.