40 Wall Street in the context of Unexplained wealth of the Marcos family

⭐ Core Definition: 40 Wall Street

40 Wall Street (also the Trump Building; formerly the Bank of Manhattan Trust Building and Manhattan Company Building) is a 927-foot-tall (283 m) neo-Gothic skyscraper on Wall Street between Nassau and William streets in the Financial District of Manhattan in New York City, New York, U.S. Erected in 1929–1930 as the headquarters of the Manhattan Company, the building was designed by H. Craig Severance with Yasuo Matsui and Shreve & Lamb. The building is a New York City designated landmark and is listed on the National Register of Historic Places (NRHP); it is also a contributing property to the Wall Street Historic District, an NRHP district.

The building is on an L-shaped site. While the lower section has a facade of limestone, the upper stories incorporate a buff-colored brick facade and contain numerous setbacks. The facade also includes spandrels between the windows on each story, which are recessed behind the vertical piers on the facade. At the top of the building is a pyramid with a spire at its pinnacle. Inside, the lower floors contained the Manhattan Company's double-height banking room, a board room, a trading floor, and two basements with vaults. The remaining stories were rented to tenants; there were private clubs on several floors, as well as an observation deck on the 69th and 70th floors.

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👉 40 Wall Street in the context of Unexplained wealth of the Marcos family

The Marcos family, a political family in the Philippines, owns different assets that Philippine courts have determined to have been acquired through illicit means during the presidency of Ferdinand Marcos from 1965–1986. These assets are referred to using several terms, including "ill-gotten wealth" and "unexplained wealth," while some authors such as Belinda Aquino and Philippine Senator Jovito Salonga more bluntly refer to it as the "Marcos Plunder".

Legally, the Philippine Supreme Court defines this as the assets the Marcoses acquired beyond the amount legally declared by Ferdinand and Imelda Marcos in the president's statements of assets and liabilities—which amounts to only about US$13,500.00 from his salary as president. The court also deems that such wealth should be forfeited and turned over to the government or to the human rights victims of Marcos's authoritarian regime. Estimates of the amount the Marcoses reportedly acquired in the last few years of the Marcos administration range from US$5 billion to $13 billion. No exact figures can be determined for the amount acquired through the entire 21 years of the Marcos regime, but prominent Marcos-era economist Jesus Estanislao has suggested that the amount could be as high as US$30 billion.

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⭐ Core Definition: 40 Wall Street
👉 40 Wall Street in the context of Unexplained wealth of the Marcos family
40 Wall Street in the context of Wall Street
40 Wall Street in the context of Chrysler Building

40 Wall Street in the context of Wall Street

Wall Street is a street in the Financial District of Lower Manhattan in New York City. It runs eight city blocks between Broadway in the west and South Street and the East River in the east with a length of just under 2,000 feet. The term "Wall Street" has become a metonym for the financial markets of the United States as a whole, the American financial services industry, New York–based financial interests, or the Financial District. Anchored by Wall Street, New York has been described as the world's principal fintech and financial center.

The street was originally known in Dutch as Het Cingel ("the Belt") when it was part of New Amsterdam during the 17th century. An actual city wall existed on the street from 1653 to 1699. During the 18th century, the location served as a slave market and securities trading site, and from 1703 onward, the location of New York's city hall, which became Federal Hall. In the early 19th century, both residences and businesses occupied the area, but increasingly the latter predominated, and New York's financial industry became centered on Wall Street. During the 20th century, several early skyscrapers were built on Wall Street, including 40 Wall Street, once the world's tallest building. The street is near multiple subway stations and ferry terminals.

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40 Wall Street in the context of Chrysler Building

The Chrysler Building is a 1,046-foot-tall (319 m), Art Deco skyscraper in the East Midtown neighborhood of Manhattan, New York City, United States. Located at the intersection of 42nd Street and Lexington Avenue, it is the tallest brick building in the world with a steel framework. It was both the world's first supertall skyscraper and the world's tallest building for 11 months after its completion in 1930. As of 2019, the Chrysler is the 13th-tallest building in the city, tied with The New York Times Building.

Originally a project of real estate developer and former New York State Senator William H. Reynolds, the building was commissioned by Walter Chrysler, the head of the Chrysler Corporation. The construction of the Chrysler Building, an early skyscraper, was characterized by a competition with 40 Wall Street and the Empire State Building to become the world's tallest building. The Chrysler Building was designed and funded by Walter Chrysler personally as a real estate investment for his children, but it was not intended as the Chrysler Corporation's headquarters (which was located in Detroit at the Highland Park Chrysler Plant from 1934 to 1996). An annex was completed in 1952, and the building was sold by the Chrysler family the next year, with numerous subsequent owners.

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