4. Donald Trump
He is an American business magnate, a famous investor, television personality, and an author, but apparently he also loves living on the edge of bankruptcy.
The Donald and his different corporate entities have filed for bankruptcy not once but four times so far.
In 1991, 1992, 2004, and 2009, however, each time was a corporate and not a personal bankruptcy, but the fact is that businesses associated with his name have needed financial assistance four times in the past two decades.
Trump had to give up Trump Airlines, a mega-yacht, and an almost 50% stake in the Grand Hyatt Hotel in order to get some of these bankruptcies approved. But even after all those bad business decisions over the years, Trump still has an estimated fortune greater than $2.7 billion, as he keeps his personal money separate from his business money.
Donald’s case only proves that it is important to establish yourself as a corporation to separate business funds from personal, and limit your liability in case your business starts to go under.
