Celebrities Who Couldn’t Repay Their Mortgage Debts

6: Donald Trump

Donald Trump Mortgage Loans Bankruptcy

Source: Google

Mr. President might be making headlines now for his gig in the White House now but back in the 90’s, he was making headlines for going bankrupt multiple times. Between 1991 and 2009, six of the companies owned by Donald Trump went bust.

The first company to go bust was his Taj Mahal Casino in 1991. Trump borrowed about $1 billion from lenders and with high-interest debts. Within a year, the casino was more than $3 billion in the hole. That took a massive beating on Trump’s lifestyle and he had to mortgage and unload a lot of his personal assets including his luxurious yacht and mortgage properties to repay the bills. Next to go were Trump Hotels and Casinos Resorts which were $1.8 billion in debts. Although Donald Trump has never owned these failures and rather blamed the bankruptcies on companies and market recession which were finance from outside.