Donald Trump’s Billions: A Story for the Ages

Donald Trump’s billions is a testament to his straight unfiltered style.

Donald Trump’s billions are credited to his no-nonsense style which many tend to find offensive. One thing that sets Trump apart is his ability to remain in the eyes of the media and constantly make news. Recently, Trump put on a performance at the first Republican Presidential Candidate Debate in Cleveland. Trump, who announced his bid for US Presidency earlier this year, may not be the best bet for mobile betting. He had an exchange of words with commentator Megyn Kelly for Fox News.

• His father’s real estate company in NYC
• Wharton BS offered a real estate studies
• Bankruptcy lost him 50% of Taj Mahal

Trump had to respond to Kelly’s questions concerning demeaning remarks he’s made about women in the past. Trump has been quoted as using terms like “dogs” and “fat pig” towards women in the past. Trump dismissing the comments, verbally attacked Kelly. Trump, who owns the “Miss America” and “Miss Universe” beauty pageants didn’t deny the comments. The real estate magnate who has contributed to resorts in Atlantic City has come a long way.

The road to Donald Trump’s billions began in Queens

Before Donald Trump’s billions, he was born in Queens, New York in 1946. Trump’s mother was a Scottish immigrant, while his paternal grandparents were German immigrants. Trump attended primary school at the Kew-Forest School in Forest Hills, but was dismissed for behavior problems. As a result, his parents sent him to the New York Military Academy.

Trump then went on to enroll at Fordham University in the Bronx for two years. Fortunately he was able to transfer to the Wharton School of Business at the University of Pennsylvania. At the time Wharton proved most appropriate for Trump, because it had a real estate studies department which was uncommon for Universities at the time. Eventually Trump graduated with his bachelor’s degree in economics. Although Trump was drafted during the Vietnam War, his student status prevented him from enlisting.

Trump’s first job in real estate came from his father’s real estate company called “Elizabeth Trump and Son” which was dedicated to middle-class housing in Brooklyn, Queens and Staten Island. Working for the family business while at Wharton, young Trump had the task of improving the Swifton Village apartments in Cincinnati, Ohio. Purchased for USD 5.7 million by his father in 1962, Trump and his family infused USD 500,000 to increase the vacancy rate from 66 percent to 100 percent in two years.

Trump moved to Manhattan to work on some more sizeable construction projects in 1971. His use of attractive public architecture brought him local praise. Donald was able to get a 40-year tax abatement from the New York City ordinance. He used this assistance to revamp the bankrupt Commodore Hotel. After turning it into the Grand Hyatt, Trump created The Trump Organization. Before long, the Trump Organization would make history within US gambling laws.

Donald Trump’s billions become a lesson in the inevitable

The determination that led to Donald Trump’s billions continued when he negotiated a right-to-buy option on a prime piece of real estate. Soon New York City desired the property so they could build the Javits Convention Center. Attempting to make a bid to complete the project, Trump was declined and received the broker’s fee. After he took over the completion of the Wollman Rink in Central Park in fraction of the time and for USD 750,000 under budget, people turned heads.

Trump acquired the Taj Mahal Casino in 1988. The Atlantic City deal, out of negotiations with Merv Griffin and Resorts International, brought trouble to Trump’s life. Getting into debt due to bad business decisions, Trump constructed his third casino, the Taj Mahal, for a USD 1 billion in high-interest junk bonds. This trend led to casinos being built in the future globally like the Ritz-Carlton Macau. Unfortunately, Trump’s increasing debt led him to declare business bankruptcy and almost personal bankruptcy.

Trump had acquired so much debt, banks and bond holders decided to restructure his debt in order to avoid further losses. The procedure left Trump with a 50 percent stake in the Taj Majal in exchange for lower interest rates over a longer payment period. The late 1990’s were kinder to Trump as he was able to complete construction on Trump World Tower. The 72-story residence stood across from the United Nations Headquarters.

Trump began construction on Trump Place, a housing development along the Hudson River. Also, he has commercial space in his Trump International Hotel and Tower on Columbus Circle. Trump’s ownership of Manhattan reached several million square feet of real estate space. Apart from New York, Trump has also developed properties in Honolulu, Chicago, Toronto, Tampa and Atlanta. Trump made US gambling news when Forbes estimated his net worth to be USD 4.1 billion.