Super interesting fact, and the reason Trump hates IL Gov J.B. Pritzker (it's personal):
chicagotribune.com/news/ct-xpm-19…
chicagotribune.com/news/ct-xpm-19…
His battle with the Pritzkers-Jay, Thomas, Nicholas and Robert-began in 1975. That was just before Trump, then 28, built the Grand Hyatt in NYC
Before the Grand Hyatt opened in 1980, Trump sold 50% of it, along with a mgmt contract, to the Pritzkers. In return, he demanded and
Before the Grand Hyatt opened in 1980, Trump sold 50% of it, along with a mgmt contract, to the Pritzkers. In return, he demanded and
received an exclusivity clause under which the Pritzkers were forbidden to open, own or manage any other large-scale hotel in Manhattan or the city's other four boroughs, including at Kennedy or LaGuardia airports, without Trump's approval.
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In 1993, Declaring that it's payback time for those who kicked him when he was down, Donald Trump filed a $500 million lawsuit against the Pritzker family of Chicago and their Hyatt hotel chain. Trump's action charges the Pritzkers used "fraud, extortion and money laundering" in
a bid to force him out of his 50 percent ownership in the New York Grand Hyatt.
In 1994, Pritzker sued Trump for violating their agreement by, among other ways, failing to remain solvent. The two parties ended the feud in 1995 in a sealed settlement, in which Trump retained some
In 1994, Pritzker sued Trump for violating their agreement by, among other ways, failing to remain solvent. The two parties ended the feud in 1995 in a sealed settlement, in which Trump retained some
control of the hotel and Pritzker would receive reduced management fees and pay Trump's legal expenses.
nytimes.com/1994/03/29/bus…
nytimes.com/1994/03/29/bus…
