Abraham Lincoln
If you didn’t know this, buckle up, because you’re going to be shocked! Out of all the United States presidents, Abraham Lincoln is probably the most well-known politician to have ever filed for bankruptcy.
Right after William Berry, Abraham Lincoln’s business partner. tragically passed away in 1833, Lincoln was left with nothing less than an astonishing amount of debt. Since he was completely unable to repay his debt, he decided to submit a petition for bankruptcy in 1834.
William McKinley
Back in 1893, William McKinley, who would later become the 25th President of the United States, decided to submit a petition for bankruptcy. At the time, the stock market collapsed, to McKinley’s terror.
As it turns out, he lost a huge amount of money, given that he recently invested a large part of his wealth in the stock market. Can you imagine the amount of stress he felt when he found out? Naturally, he was unable to pay the debt he had accumulated in time, so he decided to file for bankruptcy so he could protect himself from his creditors.
