Donald Trump
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.
| Contents |
Background
He was born in New York, New York, the fourth of five children of Frederick C. and Mary MacLeod Trump. His grandfather came from Sweden. Donald's father, Fred Trump, was a real estate developer who became rich with the building and operating of rental barracks in the NY boroughs of Brooklyn, Queens and Staten Island.
Education
At 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. After graduating in 1968 with a degree in economics, He joined his father's real estate company, the Trump Organization. Trump moved to Manhattan In 1971.
Career
Boom
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.
Bankruptcy
By 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.
Politics
In 1999, Trump indicated an interest in running for president on the Reform party ticket in 2000. He withdrew after the party disintegrated into factionalism.
Television
In 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.
Family
Trump has three children (Donald, Jr., Ivanka and Eric) with Ivana Trump (married 1977; divorced 1992). In 1993, he married Marla Maples. They divorced in 1999 and have one child, Tiffany. On April 26, 2004, he proposed to his girlfriend, Melania Knauss.
Books
- Trump: The Art of the Deal, (ISBN 5557099018)
- Trump: The Art of Survival, (ISBN 0446362093)
- Trump: The Art of the Comeback, (ISBN 0812929640)
- Trump: Surviving at the Top, (ISBN 0394575970)
- Trump: How to Get Rich, (ISBN 1400063272)
- The Way to the Top: The Best Business Advice I Ever Received, (ISBN 1400050162)
Addresses of some Trump buildings
Trump Casino: 1 Buffington Harbor Dr, Gary, IN 46406, (888) 218-7867
Trump International Hotel: 1 Central Park W, Manhattan, NY 10023,(212) 299-1000
Trump Marina Hotel and Casino: 1 Castle Blvd, Atlantic City, NJ 08401,Tel: (609) 441-8500
Trump Taj Mahal Casino Resort: 1000 Boardwalk, Atlantic City, NJ 08401,
Tel: (609) 441-6500
Trump Tower: 725 5th Ave,Manhattan, NY 10022, (212) 832-2000
External links
- The Trump Organization (http://www.trumponline.com/)
- Politics1's profile of Trump (http://www.politics1.com/trump.htm)
- Donald Trump biography (http://www.nbc.com/nbc/The_Apprentice/bios/Donald_J._Trump.html)
- Trumped! with Donald Trump (http://www.trumponair.com/) (daily radio show)
- Profile: Askmen.com (http://www.askmen.com/men/business_politics/38_donald_trump.html)
- Profile: Who?2.com (http://www.who2.com/donaldtrump.html)
- Donald Trump (http://www.imdb.com/name/nm0874339/) at the Internet Movie Database
de:Donald Trump
nl:Donald Trump
sv:Donald Trump
Categories: 1946 births | American people | Forbes 400 | Entrepreneurs