Real estate business
Today, Donald Trump is known as a controversial political figure and former president. However, back in the 90s, he was primarily known for taking the helm of his family’s real estate business and rebranding it as the Trump Organization. He focused on developing skyscrapers, hotels, casinos, and golf courses, while also navigating numerous legal challenges and business bankruptcies throughout his career. In this slideshow, we explore the early Trump years before he entered politics.
Began working
Trump began working at his father’s real estate company, Trump Management, in 1968, focusing on racially segregated rental housing in New York.
Trump Organization
In 1971, he became president of the company and started using the Trump Organization as an umbrella brand for his ventures.
Bankruptcy protection
Between 1991 and 2009, Trump filed for Chapter 11 bankruptcy protection for six businesses, including the Plaza Hotel and several Atlantic City casinos.
Commodore Hotel
Trump’s renovation of the Commodore Hotel in 1978, financed through significant tax abatements and loans, became the Grand Hyatt Hotel in 1980.
Primary residence
In 1980, Trump obtained rights to develop Trump Tower, a significant mixed-use skyscraper in Midtown Manhattan, which served as his primary residence until 2019.
Plaza Hotel
In 1988, Trump purchased the Plaza Hotel with financing from a consortium of banks, but it filed for bankruptcy protection in 1992.
Losses of property
Trump defaulted on over $3 billion in loans in 1995, leading to significant losses of property, including the Plaza Hotel, allowing him to avoid personal bankruptcy.
Acquired and renovated
In 1996, Trump acquired and renovated the skyscraper at 40 Wall Street, rebranding it as the Trump Building.
Opened in 2008
Trump’ last major project was the 92-story Trump International Hotel and Tower in Chicago, which opened in 2008.
Opened several casinos
Trump opened several casinos, beginning with Harrah’s at Trump Plaza in 1984, which struggled financially.
Following year
Trump financed the construction of the Trump Taj Mahal in Atlantic City, which opened in 1990 at a cost of $1.1 billion but filed for bankruptcy the following year.
Private club
In 1985, he acquired the Mar-a-Lago estate in Florida, converting it into a private club in 1995, which he declared as his primary residence in 2019.
The Trump name
The Trump name has been licensed for various consumer products and services, generating at least $59 million for his companies.
Scheduling disputes
From 1996 to 2015, Trump owned the Miss Universe, Miss USA, and Miss Teen USA pageants, gaining fame but eventually losing them due to scheduling disputes with NBC.
Wealthy individuals
In 1982, Trump first appeared on the Forbes list of wealthy individuals, reporting a share of his family’s estimated $200 million net worth. However, due to financial losses in the 1980s, he was removed from the list from 1990 to 1995.
Cameo appearances
Trump had cameo appearances in various films and TV shows from 1985 to 2001 and was a guest on the Howard Stern Show about 24 times in the 1990s.
From the shows
As the co-producer and host of The Apprentice and The Celebrity Apprentice from 2004 to 2015, he portrayed a successful executive, popularizing his catchphrase “you’re fired,” and earning over $400 million from the shows.
Financial disclosure report
In July 2015, after filing a financial disclosure report with the FEC, he claimed a net worth of approximately $10 billion.