Donald Trump Biography
Donald John Trump born on June 14, 1946, Before he become the president businessman and television personality.Trump was a real-estate developer and businessman who owned, managed, or licensed his name to several hotels, casinos, golf courses, resorts, and residential properties in the New York City area and around the world. From the 1980s Trump also lent his name to scores of retail ventures—including branded lines of clothing, cologne, food, and furniture and to Trump University, which offered seminars in real-estate education from 2005 to 2010. In the early 21st century his private conglomerate, the Trump Organization, comprised some 500 companies involved in a wide range of businesses, including hotels and resorts, residential properties, merchandise, and entertainment and television.
He co-authored several books, including The Art of the Deal. He owned the Miss Universe and Miss USA beauty pageants from 1996 to 2015, and he produced and hosted The Apprentice, a reality television show, from 2003 to 2015. Forbes estimates his net worth to be $3.1 billion.
His grandfather, Frederick Trump, immigrated to the United States in 1885. He became a naturalized American citizen in 1892. Frederick married Elisabeth Christ (October 10, 1880 – June 6, 1966) at Kallstadt, Kingdom of Bavaria, Germany, on August 26, 1902. They had three children. He studied at Fordham University until transferring to the University of Pennsylvania.
Trump was not drafted during the Vietnam War.In an interview for a 2015 biography, he attributed his medical deferment to heel spurs.
The fourth of five children, Donald Trump’s parents were Frederick C. and Mary Anne MacLeod Trump. Frederick Trump was a builder and real estate developer who specialized in constructing and operating middle-income apartments in Queens, Staten Island and Brooklyn.
Mary MacLeod immigrated from Tong, Scotland, in 1929 at the age of 17. She married Fred Trump in 1936, and the couple settled in Jamaica, Queens, a neighborhood that was, at the time, filled with Western European immigrants.
Wife and Kids
Donald J. Trump has had three wives and is currently married to former Slovenian model Melania Trump, over 23 years his junior. In January 2005, the couple married in a highly-publicized and lavish wedding.
Donald was an energetic, assertive child. His parents sent him to the New York Military Academy at age 13, hoping the discipline of the school would channel his energy in a positive manner. Trump did well at the academy, both socially and academically, rising to become a star athlete and student leader by the time he graduated in 1964.
He then entered Fordham University and two years later transferred to the Wharton School of Finance at the University of Pennsylvania, from which he graduated in 1968 with a degree in economics.
The Trump Organization
The Trump Organization is the collective name for a group of approximately 500 business entities of which Donald Trump, is the sole or principal owner.Approximately 250 entities use the Trump name.Donald Trump’s grandmother Elizabeth Christ Trump and father Fred Trump founded the organization in 1923 as E. Trump & Son, and it was led from 1971 to 2017 by Donald Trump, who renamed the company around 1973.
The company’s background starts with Frederick Trump and Elizabeth Christ Trump, a German immigrant couple who moved to the borough of Queens in 1906. Frederick began developing real estate there. On 30 May 1918, however, he died of Spanish flu in the 1918 influenza pandemic, leaving an estate valued at $31,359 ($564,789.03 in 2018 dollars).
Elizabeth carried on in the real estate business after her husband’s death. She had contractors build houses on the empty lots Frederick had owned, sold the houses, and lived off the mortgage payments.Her vision was to have her three children continue the family business. Her middle child, Fred Trump, began construction of his first house in 1923, soon after graduating high school. Elizabeth partially financed Fred’s houses,and held the business in her name because Fred had not reached the age of majority.They did business as “E. Trump & Son”, building hundreds of houses in Queens over the next several years.E. Trump & Son went out of business during the Great Depression. Fred Trump next opened a supermarket, but quickly sold it and returned to the real estate business by 1933.
Fred Trump became a prolific builder of single-family homes in Queens and Brooklyn.During World War II, he constructed apartments and temporary housing for military personnel in Virginia and Pennsylvania.In 1944, he shifted his focus back to Brooklyn and began planning to develop large apartment buildings.He opened the 1,344-unit Shore Haven complex in 1949,followed by Beach Haven in 1950and Trump Village in 1964.
Elizabeth remained involved in the family business throughout her life. Even in her 70s, she collected coins from the laundromats in the Trump buildings.
In 1990, the Trump Organization approached a financial crisis and was believed to be on the brink of collapse, with Donald Trump and his companies owing estimated debts of $3.4 billion. Trump hired Stephen Bollenbach as the company’s first chief financial officer, while Allen Weisselberg continued to serve under him as comptroller. Trump spent the following years renegotiating his debts, and gave up some properties, including the Trump Shuttle airline and a stake in the Plaza Hotel in Manhattan.Bollenbach left the company in 1992. In 1995, Trump took another major step towards financial stability, launching a publicly traded company for the Trump casinos, Trump Hotels & Casino Resorts.By 1996, Trump was widely considered to be making a comeback.The casino company did not fare as well, however, and Trump eventually lost his stake in the company to bankruptcy.
In 1997, Fred Trump transferred ownership of the bulk of his portfolio of apartment buildings to his four surviving children (Donald, Robert Trum, Maryanne Trump Barry, and Elizabeth Trump Grau). Fred died in 1999.In 2004, the four siblings sold the apartments for $700 million to a group led by Rubie Schron, marking the exit of Donald’s family from ownership of the business.
As of 2019, Trump’s net worth (as estimated by Forbes Magazine) is $3.1 Billion (U.S.), with about half of that coming from his New York City real estate holdings, and about a third coming from his national and international properties (including hotels and golf courses).Licencing fees paid by outside owners for using Trump’s name on their properties also contribute to his overall net worth.