On Friday night, Donald Trump announced via e-mail that he would step down as chairman of Trump Entertainment Resorts, reports the Wall Street Journal.
Mr. Trump said in the letter that he is no longer involved with the management of the troubled company and that he “strongly” disagrees with decisions the company’s bondholders have made.
“…The company has represented for quite some time substantially less than 1 percent of my net worth, and my investment in it is worthless to me now,” he wrote. “I want to leave what I believe will become a highly volatile situation and focus on the many other opportunities that are available to me in these very troubled but exciting times.”
To read Mr. Trump’s resignation letter in its entirety, click here.