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 Donald John Trump (born June 14, 1946) is an American business executive. Donald Trump is most famous for several large skyscrapers he developed in Manhattan and named after himself. Starting with Trump Tower, he developed Trump World Tower along the East River, completed in 2001, and then began construction of the Trump Place apartment complex along the Hudson River that same year. He is also a major figure in the field of casino/hotels in the United States, and has become notable on television for his role on the reality show The Apprentice.
BackgroundHe was born in New York, New York, the fourth of five children of Frederick C. and Mary MacLeod Trump. His grandfather came from Germany. Donald's father, Fred Trump, was a real estate developer who became rich with the building and operating of rental barracks in the New York City boroughs of Brooklyn, Queens and Staten Island. His mother, who has family on Lewis in the Western Isles, probably named him "Donald", which in Gaelic means "proud" or "world ruler". EducationAt age 13, Donald's parents sent him to the New York Military Academy hoping to channel his energy and assertiveness in a positive manner. Trump attended Fordham University before transferring to the Wharton School of Finance at the University of Pennsylvania. After graduating in 1968 with a bachelor's degree in economics, he joined his father's real estate company, the Trump Organization. Trump moved to Manhattan in 1971. In his book, Art of the Deal, Trump discusses his undergraduate career:
CareerBoom As a talented dealmaker, he was able to secure loans with little collateral in the 1980s and created an empire in real estate, casinos, sports, and transportation, becoming something of a celebrity in the process. His buildings are all characterized by a somewhat satirical personality cult around himself. The name "Trump" always appears in the name of his buildings (Trump Tower, Trump Taj Mahal, etc.) and often the decor features large letter "T"s in prominent locations. BankruptcyBy 1990, the effects of recession left him unable to meet loan payments. Although he shored up his businesses with additional loans and postponed interest payments, increasing debt brought Trump to business bankruptcy and the brink of personal bankruptcy. Banks and bondholders had lost hundreds of millions of dollars, but opted to restructure his debt to avoid risking losing even more in a court fight. By 1994, Trump had eliminated a large portion of his $900 million personal debt and reduced significantly his nearly $3.5 billion in business debt. While he was forced to relinquish the Trump Shuttle (which he had bought in 1989), he managed to retain Trump Tower in New York City and control of his three casinos in Atlantic City. In 1995, he combined his casino holdings into the publicly held Trump Hotels & Casino Resorts. Wall Street drove its stock above $35 in 1996, but by 1998 it had fallen into single digits as the company remained profitless and struggled to pay just the interest on its nearly $2 billion in debt. Under such financial pressure, the properties have been unable to make the improvements necessary for keeping up with its flashier competitors. On October 21, 2004, Trump Hotels & Casino Resorts announced a restructuring of its debt. The plan called for Trump's individual ownership to be reduced from 56 percent to 27 percent, with bondholders receiving stock in exchange for surrendering part of the debt. However, Trump's personal fortune has not been, in recent years, affected by his financial troubles with hotels and casinos. The Forbes 400 lists his net worth at $2.6 billion, though Trump himself claims to be worth over $5 billion. PoliticsIn 1999, Trump indicated an interest in running for president on the Reform party ticket in 2000. He withdrew after the party disintegrated into factionalism. Trump's political views are largely centrist. He is pro-choice regarding abortion and supports gay rights, Social Security privatization, and tax cuts such as those implemented by President Bush. In 2004, Trump was a staunch opponent of the Iraq War but claims to have still voted for Bush due to his tax cut policy. TelevisionIn 2004, Trump became star and executive producer of the NBC reality show, The Apprentice, in which a group of competitors battle for a high-level management job in one of Trump's commercial enterprises. The other contestants are fired. The winner of the program earns a $250,000 annual salary. At the end of each episode, Trump eliminates one contestant by telling them, "You're fired," which became a somewhat popular catch phrase. A Muppet of Donald Trump also appears an episode of the 36th season of Sesame Street, alongside grouch Muppet Donald Grump. FamilyIn 1977 Trump married Ivana Zelničkova and together they have three children: Donald, Jr. (born December 31, 1977), Ivanka (born October 30, 1981) and Eric (born 1984). They were divorced in 1992. In 1993, he married Marla Maples, and together they have one child, Tiffany (born October 13, 1993). They divorced in June 8, 1999. On April 26, 2004, he proposed to Melania Knauss. Trump and Knauss married on January 222005 at Bethesda by the Sea Episcopal Church in West Palm Beach, Florida, followed by a reception at Trump's Mar-a-Lago estate. Books
PropertiesFuture site of Trump International Hotel & Tower, Toronto United States and Canada:
International:
Trump Parc, Trump Palace, External links
Interview
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