WTC Was Leased Out and Insured Before 9/11

Well, no conspiracy theory here; it’s a fact. The World Trade Center (WTC) building was leased out to an American realtor, Larry Silverstein, for $3.2 billion, in July 2001. This was the first time the WTC complex had a change in its management in its 31-year old history. The lease agreement gave Silverstein the right to rebuild the WTC towers if destroyed. Silverstein, the new owner of the building, then took out an insurance plan for the WTC towers that fortuitously covered an act of terrorism as well.

And barely a couple of months after the lease, came September 11, 2001 when the terrorist attack on the WTC twin towers took place and the buildings were damaged beyond repair. As per Silverstein himself, he usually spent his mornings in one of the WTC towers, having breakfast meetings with the new tenants of the building. However, on the eventful day of 9/11, he went on to attend an appointment with his dermatologist, on the insistence of his wife, thus escaping his almost certain death.

wtc-911-leased-insured

After 9/11, Silverstein filed an insurance claim for the damages and was awarded $4.577 billion.

Leave a comment

comments