Became its leader
The Trump Organization is a privately owned conglomerate established by Donald Trump, consisting of approximately 250 affiliates and subsidiaries. Trump joined the organization in 1968, became its leader in 1971. It was passed to his children in 2017 following his election as president. In this slideshow, we take a look back at the company’s history, particularly regarding its growth in the 1990s.
Trump International Hotel
In the 1990s, here are some of the major projects of the Trump Organization:
• Seven Springs Mansion in Westchester, NY: Acquired in 1994, this 60-room mansion is situated on a 230-acre property.
• 40 Wall Street (The Trump Building) in New York, NY: Acquired in 1995, this 72-story landmark building is located in the Financial District.
• Trump International Hotel & Tower in New York, NY: Opened in 1997, this hotel is located on Central Park West in New York City.
• Trump International Golf Club in West Palm Beach, FL: Opened in 1999, this golf club is situated in West Palm Beach, Florida.
Faced bankruptcy
Trump launched Trump Hotels & Casino Resorts in 1995 to stabilize finances, but this venture ultimately faced bankruptcy, leading to Trump losing his stake in the company.
Real estate portfolio
In 1997, Fred Trump transferred the majority of his real estate portfolio to his children, declaring the properties’ worth at $41.4 million.
Financial services
Trump secured a $425 million loan from Deutsche Bank in 1998, which later provided various financial services aimed at minimizing risks for Trump’s ventures.
Public image
The Trump Organization was linked to the production of reality television shows, notably The Apprentice, which helped reshape Trump’s public image.
That debt
By 1990, the Trump Organization owed approximately $4 billion to 72 banks, with Donald Trump personally guaranteeing $800 million of that debt.
Continued operation
In response to its financial crisis, the organization underwent a debt restructuring, which involved forgiving some of Trump’s debt to enable continued operation.
Public perception
The portrayal of Trump as a successful executive on The Apprentice contributed to a highly flattering and fictionalized public perception of him.
Numerous lawsuits
Throughout the 1990s, Trump and his businesses faced numerous lawsuits, which included claims from contractors alleging non-payment for services rendered.
Following a series
Following a series of bankruptcies, Trump had increasing difficulties in securing loans from mainstream financial institutions.
Casino properties
Trump’s casino properties faced significant financial struggles that resulted in debt defaults and restructured agreements with bondholders.
Trump Tower Europe
The organization sought international investments and had aspirations to develop projects in Germany, including “Trump Tower Europe.”