Donald Trump

Donal Trump needs no introduction. He was the Chairman and President of The Trump Organization and had filed for bankruptcy four times. In 1989, when the U.S. was undergoing recession, the effect of it left Donald unable to meet loan payments. He had financed the construction of his third casino, the $1 billion Taj Mahal, with high interest junk bonds. By 1991, the increasing debt brought him to business bankruptcy and the brink of personal bankruptcy.

In 1992, Donald’s Trump Plaza Hotel was forced to file a prepackaged Chapter 11 bankruptcy protection plan after being unable to make its debt payments.