The Trump Taj Mahal, the opulent Atlantic City casino built by Donald Trump for USD 1.2 billion, went for 4 cents on the dollar when it was sold in March.
Documents filed with the Securities and Exchange Commission by billionaire Carl Icahn reveal the price he got from Hard Rock International for the Taj Mahal: USD 50 million. The sale was publicised at the time, though the purchase price wasn't revealed.
Trump, now the nation's 45th president, dubbed the Taj Mahal "the eighth wonder of the world" when it opened in 1990.
He cut most of his ties with Atlantic City in 2009, though he retained a small stake in Trump Entertainment Resorts in return for the right to use his name.
Hard Rock is owned by Florida's Seminole Indian tribe. It plans to reopen the casino.
Disclaimer: No Business Standard Journalist was involved in creation of this content
