Trump in 1995 - must be tough to lose $1B

[ksoze]

"Trump Solo" - from New York magazine May 19, 1997

To bail himself out with the banks, Trump converted his casinos to public ownership, despite the fact that the constraints inherent in answering to shareholders do not come to him naturally. Inside the Trump Organization, for instance, there is talk of “the Donald factor,” the three to five dollars per share that Wall Street presumably discounts Trump Hotels & Casino Resorts by allowing for his braggadocio and unpredictability. Inside the Trump Organization, for instance, there is talk of “the Donald factor,” the three to five dollars per share that Wall Street presumably discounts Trump Hotels & Casino Resorts by allowing for his braggadocio and unpredictability. The initial public offering, in June, 1995, raised a hundred and forty million dollars, at fourteen dollars a share. Less than a year later, a secondary offering, at thirty-one dollars per share, brought in an additional three hundred and eighty million dollars. Trump’s personal stake in the company now stands at close to forty per cent. As chairman, Donald had an excellent year in 1996, drawing a million-dollar salary, another million for miscellaneous “services,” and a bonus of five million. As a shareholder, however, he did considerably less well. A year ago, the stock traded at thirty-five dollars; it now sells for around ten.

http://www.newyorker.com/magazine/1997/05/19/trump-solo