New Delhi: Real estate mogul Donald Trump is one of the biggest success stories on America's real estate map today. One of Trump's belief – something that he's lived by all his life – is to think big and dream big.
Donald John Trump was born on June 14, 1946, to parents Mary Macleod Trump and Frederick Christ Trump, and grew up in Jamaica Bay, N.Y. His father, Fred C. Trump, a son of German immigrants, was a real estate magnate who became a millionaire by offering residential real estate in the Queens, Brooklyn and Staten Island boroughs of New York City. His mother was from Scotland.
Trump graduated in 1968 with a B.S. in economics and real estate from The Wharton School of Finance. After graduation, Trump moved back to New York to work with his father for five years in Sheepshead Bay, Brooklyn, brokering real estate development deals for Fred's Trump Enterprises. While working with his son, his father once said, “Some of my best deals were brokered by my son, Donald … everything he touches turns to gold.”
At the Trump Organization, Donald started out working with middle-class rental housing. In 1975, the younger Trump became president of the company and renamed it the Trump Organization.
Because of his business acumen, Donald learned to take advantage of tax concessions from York City government in exchange for investment and in 1980s was well positioned to start his own company. He proposed reconstruction of the Commodore Hotel in 1976, funding the project with tax breaks, and eventually sold his stake to Hyatt Hotels two years later, when the construction started. In 1980 the hotel was opened as the Grand Hyatt.
In 1980s, he displayed his firm hold on real estate business by taking over Trump Wollman skating rink in Central Park which had fallen into disrepair and mismanaged renovation. After taking control of the project, Trump completed the rink in six months at $750,000 under budget.
Trump married Czech model Ivana Zelničkova in 1977, and despite rumors of affairs, had three children with her: Donald Jr. in 1977, Ivanka in 1981 and Eric in 1984. It was she who bestowed upon him the famous moniker “The Donald.”
Trump Organization rose phenomenally in the 1980s due to lots of deals in residential and hotel properties. Donald bought the classy Plaza Hotel and renovated that as well. He also opened Trump Tower on Manhattan's Fifth Avenue, Trump Parc condominiums and owned the former New Jersey Generals football team.
At the same time, Trump also got involved in the casino business in Atlantic City, N.J., in the '80s, and now his company runs three in the area: Trump Taj Mahal Casino Resort, Trump Marina Casino Resort and Trump Plaza on the Boardwalk. These sites have often served as host locations for WWE events and beauty pageants; Trump owns the broadcasting rights for the Miss USA, Miss Teen USA and Miss Universe pageants.
Despite experiencing difficulties with loan debts of almost $2 billion, Trump restructured most of them using bankruptcy protection and offloaded some of his assets to banks and creditors in the early '90s. In 2004, he reinvented himself as co-producer and star of the hit reality TV program The Apprentice. He became the producer of the Miss Universe and Miss USA beauty pageants (along with NBC) and even toyed with the idea of running for president.
In 1998, he owned and sold The St. Moritz Hotel (now called the Ritz Carlton); opened the luxurious hotel and residence Trump International Hotel and Tower on Manhattan's ritzy Central Park West. Trump is also credited to build Trump World Tower in 2001, the tallest residential building along the East River in Manhattan. The building has 376 condominium apartments.
In 2002, he bought the Delmonico Hotel and restored it to become luxury condominiums at Trump Park Avenue, which opened in 2003.
He also owns the Trump National Golf Course in Westchester, N.Y., Trump Casino riverboat in Buffington Harbor, Ind., Trump National Golf Club in both Los Angeles and in Bedminster, N.J., and Trump International Golf Club in Palm Beach, Fla.
He is also a best-selling author. His best selling books include: The Art of the Deal," "Surviving at the Top," "Think Like a Billionaire" and "How to Get Rich: Big Deals From the Star of The Apprentice."
Last year, he announced his company's first Indian project, a 22-storied residential twin towers in Pune having 44 luxurious single-floor condominiums. Trump Tower Pune is being developed by city's leading real-estate developer, Panchshil Realty, located in upscale Kalyani Nagar neighbourhood.
Here are some quotes from the man himself:
