Donald John Trump is an American entrepreneur, a billionaire, a construction magnate, the owner of a large hotel and casino network. Author of an impressive series of books on business and self-development. Member of the Republican Party. November 8, 2016, Trump was elected the 45th President of the United States.
In 1964, Trump brilliantly graduated from the military academy and entered Ford University. After studying there for 4 semesters, he transferred to the Wharton Business School at the University of Pennsylvania. In 1968, he received a bachelor’s degree in economics, after which his father accepted his son into the family business. Donald was seriously interested in real estate, hoping in the future to become the heir to the Trump building empire and multiply his father’s condition many times. Young Donald Trump set to work on a family business.
The first project entrusted to Donald was the grand residential complex of Swifton Village in Ohio, designed for 1,200 apartments for the “middle class”. Under the direction of the younger Trump, the company managed to complete the project within a year, spending on the construction of $ 6 million and gaining $ 12 million from the sale of the apartments. The residential quarter of Swifton Village is the first project of Donald Trump. Read: The 10 most unsupervised children of Russian celebrities. Double income is more than a great start to a career, but Trump was not going to stop there. Construction of apartments in Ohio was sponsored by the state, but Donald understood that for financial support for more serious projects one should turn not to government organizations, but to the powerful: bankers, top managers, oil tycoons. In 1971, Donald rented apartments in the heart of New York – on the island of Manhattan. Here his circle of acquaintances was quickly replenished with influential people. Donald Trump and Fred Trump are legendary father and son.
FORMATION OF EMPIRE
In 1974, Trump, not without the help of new connections, won a tender for the restoration of the dilapidated Commodore Hotel. Since many of the buildings near the hotel were also in a deplorable state and needed financial infusion, as well as the city itself, which was on the verge of bankruptcy, Donald was able to get tax benefits from the mayor’s office for 40 years. Moreover, the largest banks in New York gave him a mortgage loan totaling $ 70 million. The condition was one – Trump had to bring the area in order. Donald’s firm set to work, and six years later, the residents of Manhattan were able to contemplate the 25-storey monolith of glass and steel that replaced the sad yellow building and became surrounded by new, functional and comfortable neighborhoods. Much later, in October 1996, one of the largest hotel chains, Hyatt, bought half the rights to the hotel, increasing Trump’s wealth by $ 142 million. Trump forever changed the face of Manhattan. In 1979, Donald laid eyes on a piece of land on 5th Avenue, opposite the Tiffany & Co. Jewelry store. When a businessman was asked what had made this place redeem him, he replied: “The wealthiest people in New York always have to turn around Tiffany’s shops.” By 1983, the 58-storey Trump Tower skyscraper has grown on this site, which has surpassed all city buildings in height. The facade of the famous Trump Tower skyscraper. The house instantly gained fame as an elite complex: the windows of the apartments overlooked Central Park, below was a series of boutiques and restaurants, the floor was tiled with pink marble, and a three-meter fountain was in the lobby. All apartments were bought up within a few months, and Trump became richer by $ 200 million. In one of the halls inside the Trump Tower. When gambling was legalized in New Jersey in 1977, Trump realized that there was a tasty morsel in front of him that should never be overlooked. In 1980, he acquired a piece of land in Atlantic City, commissioning the acquisition of a gambling business license to brother Robert. In 1982, the grandiose Trump Plaza Hotel & Casino opened a grand hotel and entertainment complex worth $ 250 million. In 1986, Donald bought the city’s Hilton hotel and built the $ 320 million Trump’s Castle in its place. In parallel, he began the construction of the largest hotel-casino in the world, the Taj Mahal, which opened its doors to visitors in 1990. Donald Trump at the opening of Trump Plaza Read: What does the home of Russian celebrities look like from the inside? Part one
ON THE VERGE OF BANKRUPTCY
By the early 1990s, Donald’s fortune was estimated at $ 1 billion. In addition to the network of hotels, casinos and luxury residential skyscrapers, Trump’s empire included Trump Shuttle Airline, the New Jersey Generals football team and a huge number of small businesses that Donald himself lost.