The six bankruptcies were the result of over-leveraged hotel and casino businesses in Atlantic City and New York: Trump Taj Mahal (1991), Trump Plaza Hotel and Casino (1992), Plaza Hotel (1992), Trump Castle Hotel and Casino (1992), Trump Hotels and Casino Resorts (2004), and Trump Entertainment Resorts (2009).[79][84][85] Trump said "I've used the laws of this country to pare debt. ... We'll have the company. We'll throw it into a chapter. We'll negotiate with the banks. We'll make a fantastic deal. You know, it's like on The Apprentice. It's not personal. It's just business."[74]
Inheritance and further acquisitions
Trump acquired an old, vacant, 70 story office building at 40 Wall Street in Manhattan in 1996. After a complete renovation, it became the Trump Building.[86] After his father died in 1999, Trump and his siblings received equal portions of his father's estate valued at $250–300 million.[87]In 2001, Trump completed Trump World Tower, a 72-story residential tower across from the United Nations Headquarters.[88] Trump also began construction on Trump Place, a multi-building development along the Hudson River. He continued to own commercial space in Trump International Hotel and Tower, a 44-story mixed-use (hotel and condominium) tower on Columbus Circle which he acquired in 1996,[89] and also continued to own millions of square feet of other prime Manhattan real estate.[90]
Trump acquired the former
