Born on June 14,
1946 Donald Trump is one of America’s most celebrated real estate
moguls. Born as the fourth child of Fred and Mary Trump, Donald
Trump had real estate in his genes. His grandfather was a real estate
developer who became rich building rental barracks in Brooklyn, Staten Island,
and Queens. He grew up to have a longing for a career in acting but decided to
settle for the more profitable real estate business. After graduating from
Wharton, Trump joined his father’s business.
Trump grew the
business and acquired loans on low collateral. Through the 1980s, Trump built
an empire in the real estate, casinos, sports and transportation. Only with
Trump, he was not the composed businessperson. He also gained celebrity status.
Trump built several skyscrapers that hugged the New York skyline and named them
all after his own name. He also became a big name in the casino industry with
his own casinos at Atlantic City.
The going was
good until the 1990s when he was unable to meet loan payments due to the
recession. Despite his best efforts, the growing interest repayments brought Trump
to business bankruptcy. Loaning agencies and banks lost several million in this
process but decided to restructure Trumps’ loan for fear of being unable to
meet legal expenses if it came to a battle.
Trump paid off
much of his debts by 1994 but it was never the same again. Despite his ill luck
with business and his debts, Donald Trump is still considered a
schoolboy’s dream. He is an example setter with his business techniques and
many books such as Trump: The Art of the Deal, Trump: The Art of Survival,
Trump: The Art of the Comeback, Trump: Surviving at the Top, Trump: How to Get
Rich and such.
Trump lives his
life to the fullest. He spent a lot of his money on buying riches. He is
distinctly debonair and sets an example for others. Apart from turning his
business over, the second time, Trump is recently in the news with his popular
reality show The Apprentice.
