Age: 64yrs

Birth Place: New York City, New York, USA

Industry: Real Estate

Biggest Hold Back: Went Bankrupt Several Times

Net Worth: $2 billion

Website: www.trump.com






Why they made the list..

What do you think of when you hear the name Donald Trump? Fame, Fortune or his books? I’m betting the last thing you would think of is bankruptcy right? Donald began working for his fathers company in the late 1960’s, The Trump Organisation working in real estate from an early point in his life. He managed to completely revamp a huge complex with only a 44% occupancy rate into a thriving complex with 100% occupancy in only a year, making his father’s company a nice $6 million in profit. Trump rose yet again into glory when he took on a massive project that the City of New York had nowhere near completed after two years and after having spent a huge $12 million on it. Trump managed to complete the entire project after taking over and used less than a third of the remaining budget.

However it wasn’t always great news and success for Donald. In 1989 at the beginning of a recession Trump, was left helpless against huge debts which had piled up due to the building of his new casino, the Taj, Mahal. The Taj Mahal had cost $1 billion in junk bonds and his debts increased further than anyone could have imagined. Just three years later in 1992 Donald was forced to sign a bankruptcy protection plan because he was unable to make payments towards the huge accumulating debts. He was now in personal debt of $550 million as well as the $1 billion in junk bonds. By 1994 his personal debt had totalled a disastrous $900 million! He eventually managed to restructure his bankruptcy by reducing his shares from 56% to 27% meaning the bulk of the debt would all but disappear. With the changing hands of the company shares the business changed it’s name to the Trump Entertain Resorts Holdings. Trump is currently worth an estimate $2 billion.www.trump.com