FACT CHECK: Did Trump File For Bankruptcy 4 Times In 15 Years?
A post shared on social media purports that former President Donald Trump has gone bankrupt four times in the last 15 years.
Post by @bethbramble_View on Threads
Verdict: False
The claim is inaccurate. Six Trump-owned businesses have gone bankrupt in the last 33 years.
Fact Check:
The U.S. Supreme Court will hear arguments Thursday regarding Trump’s claim to be immune from prosecution in an election interference case against him, Fox News reported. Opening statements have begun in Trump’s New York criminal trial, CNN reported.
A post shared on Threads claimed that Trump should not be in charge of the economy because of past financial failures. The post shared a photo of Trump in his chair from his television show “The Apprentice.”
The post reads, “I filed for bankruptcy 4 times in the last 15 years. Let me run your economy.”
The claim is inaccurate. Trump has never filed for a personal bankruptcy, according to a post from the Van Horn Law Group. Trump has owned businesses that have filed for chapter 11 bankruptcy. Chapter 11 bankruptcy allows “distressed businesses deep in debt an opportunity to reorganize their assets and debts while allowing them to stay open,” according to Business Insider.
Six of his businesses have gone bankrupt between 1991 and 2009, Lucas Ruffing Law reported. In 1991, Trump’s Taj Mahal casino in Atlantic City filed for bankruptcy. Another of Trump’s Atlantic City casinos, Trump Plaza, along with Trump Castle and Trump Plaza Hotel also went under in 1992.
In 2004, Trump Hotels and Casinos Resort, an entity that was comprised of several of his businesses, filed for bankruptcy with $1.8 billion in debt, the article detailed. Trump Hotels and Casinos Resorts then became known as Trump Entertainment Resorts. In 2009 this went bankrupt after accruing $1.2 billion of debt. (RELATED: Does Video Show Explosion At Francis Scott Key Bridge?)
This is not the first time misinformation has been shared online. Check Your Fact debunked a claim a video showed Yemeni missiles being launched.
