Monday, May. 07, 1990

Business Notes THE RICH

Casino king Donald Trump is best known for what he buys, not for what he sells. But the high roller disclosed last week that he is considering the sale of his Trump Shuttle airline and the refinancing of some hotel and casino properties. "Cash is king," explained Trump. "People that have cash are going to be able to buy things very inexpensively" because of tightening < credit in the U.S.

Yet Trump's fondness for folding money may be more pressing than he admits. He needs an abundant cash flow to make payments on his many leveraged holdings. In its May 14 issue, Forbes magazine has cut its estimate of Trump's net worth by two-thirds, to a mere $500 million. Trump denies he is a little short: "When you have $400 million in cash, you don't need cash." More pocket change may be coming Trump's way. The Trump Princess, his 282-ft. yacht, is sailing the Far East looking for a new owner. Asking price: $110 million.