Trump: ‘I Never Went Bankrupt’
VIDEO: Trump on his who knows how many billions and his plans to redevelop D.C.'s Old Post Office.
April 10, 2013 - 1:04 pm
In a Washington Post Live interview on D.C. real estate, Donald Trump said Forbes Magazine’s estimate of his net worth is incorrect and that he “never went bankrupt.”
The event, which also featured Trump’s daughter Ivanka, centered mostly on the Trump Organization’s redevelopment of Washington’s Old Post Office.
“How many billions do you have?” Trump was asked during the interview on Wednesday.
“What do they say? 9 [billion],” Trump replied.
“Forbes said $3.2 [billion],” said Mary Jordan of the Washington Post.
“I say 9 [billion]. It’s a big difference,” Trump replied. “I say 9 but that’s OK.”
He continued, “I don’t know. Whatever it is, it is. It’s plenty of money.”
The Government Services Administration selected the Trump Organization for the nearly $200 million project last year. Jordan asked Trump for his response to other bidders for the project wondering why GSA chose Trump since he has “gone bankrupt” before.
“I never went bankrupt,” Trump responded.
“But over the course of years and years and you can look at Henry Kravis and Carl Icahn and many, many, you do things, I buy a lot of things out of bankruptcy, I bought a house in Palm Beach out of bankruptcy for $40 million. I sold it for $100 million after fixing it.”
Trump said the laws of the county “have things where you’re allowed to chapter a company.”
“Out of hundreds and hundreds of deals that I’ve done over the years, three or four deals, I’ve used that along with Carl Icahn has used it, Henry Kravis has used it, I think Warren Buffett has used it.”
Both Donald Trump and his daughter Ivanka, the executive vice president of Development & Acquisitions for the Trump Organization, said the Old Post Office could become one of the best hotels in the world.
“Washington doesn’t have that right now and they have nice hotels but we think this could be one of the really great hotels of the world,” Trump said.
“We’ll be bringing a general life to the area. This building will be incredibly vibrant. Plus obviously with observation deck, it’s of the great jewels of D.C. that’s really underutilized,” said Ivanka, a Georgetown University graduate.
The Apprentice star also said he has “rarely met people more professional” than those at GSA.
“These people are as good as anybody that I’ve ever dealt with and I don’t say that even in a positive standpoint because they negotiate a very tough deal,” he said.