A wealthy industrialist wanted to start the process of grooming his son to be his successor. Calling him into his office he told him "son, you're going to run this far flung empire but I have to know you're capable. I am going to give you one million dollars. In 12 months you have to turn it into three million dollars. Then we will know you have what it takes to run this company."^ the bankruptcy issue is relevant to the extent that people tout his business experience and personal wealth. Regardless, he was born into wealth and increased it, although we cannot know whether he outperformed even a market index fund or is awesome at business. He's not a guy that started from the ground up, and untangling his contributions is neigh impossible because we don't know 1) what he got from family and when, 2) how much he has now, and 3) what effect bankruptcy had on his companies. Hard to suss out noise from fact.
But at least we're rallying behind the strong strength of strong men again. Was worried that we'd resorted to reason and deliberation. Trump - the truck nuts of presidential candidates.
So the commences to turn 1 million into 3.
At the end of twelve months he comes back admitting failure.
"Dad, I turned the 1 million into 3 million but now I am broke!"
"What happened" asked the father?
"I bought a boat, loaned it to some friends and there was a fuel mishap. One of them got burned, sued, and we settled for a million."
"Then a pilot friend borrowed the airplane I owned, crashed, and was killed. His gay lover sued and won a million"
"Then my wife decided to get while the getting was good, divorced me and got the last million."
"So not only did it not turn the one million into three, I lost the original million!"
The industrialist replied " that's ok son. YouVe learned a valuable lesson. Remember, if it floats, flys, or ****s.......rent it!"