Hello,

Today I will be presenting you the story about Donald Trump's wealth
Everyone thinks they know Donald Trump, but do you know how it all started,
how Trump actually became Trump. Here's the real story behind how Donald Trump got his
wealth, his successes and his failures.
The story started well over a century ago
with Donald's grandfather Fredrik Trump.
Real estate runs deep in the blood of the Trump family
and Fredrik was actually the first Trump to own a hotel
during the famous Klondike Gold Rush in Canada.
Fredrik owned a restaurant that served gold miners.
When he passed away he left an estate worth just under five hundred thousand in today's
dollars to his successors.
His eldest son Fred Trump carried on the Trump legacy by going into business with
his mother.
Using his inheritance for seed money,
Fred became a very successful builder in New York City's outer districts.
He built single-family houses in Queens in the 1920s,
he helped launch/develop the super market with the Trump market during the Great
Depression,
he even built barracks for the Navy during World War two.
But Fred's real profitable investment was in 1949 when he got a government loan to build
Shore Haven apartments in Brooklyn,
The Federal Housing Administration paid him ten point three million dollars,
but he was able to build the apartments for significantly less.
The government kept overpaying for houses in Brooklyn and Queens
and Fred kept building them.
Fred Trump was allegedly worth between 250 and 300 million dollars by the time of
his death in 1999.
According to Donald, his father was one of the biggest landlords in New York's outer
districts.
Born in Queens, Donald Trump would join his father's company early on in his career.
Donald had a different vision for the Trump name.
He imagined the Trump brand as being synonymous with luxury worldwide.
Using his dad's business connections and creditworthiness
Donald went into real estate in Manhattan in the mid 1970s.
He borrowed a small sum of 1 million dollars to get started.
One of Trump's first moves was also one of his biggest wins,
in 1976 Donald Trump and Hyatt partnered to buy the rundown Commodore hotel near Grand
Central Station.
At the time the whole neighborhood was a mess, with many nearby buildings on the edge of
closure.
Trump negotiated contracts with banks and the city in an effort to fund/finance the hotel and
rejuvenate/save the area.
The end result was The Grand Hyatt, a 25 story hotel which Trump sold his share/stake/part
of for a hundred and forty two million dollars in 1996.
Another big win for Trump was with 40 Wall Street
which was once the tallest building in the world.
He bought it for 1 million dollars after years of vacancy,
Today its prime real estate in the financial district worth more than 500 million dollars.
The Apprentice was also a financial success as the show's host and executive
producer Trump raked in 1 million dollars per show/episode for a total of a hundred and
eighty-five episodes.
But like many businessmen Trump's career also had its failures.
Donald's biggest failure may be his unlucky venture into casinos in Atlantic City.
The bleeding/downfall/collapse started in 1988,
when he acquired the Taj Mahal casino,
financed primarily by high risk bonds.
The massive casino would be three billion dollars in debt within just a year of opening.
Trump who had 900 million dollars in personal liabilities had the business declare
bankruptcy.
To stay afloat he sold many personal assets,
such as his airline, an 86 meeters long mega yacht and half of his stake in the company.
Things were falling apart and trump's dad chipped in with a 3.5 million dollar loan in the form
of casino chips to help make a debt payment.
Trump's casino Holding Company would enter bankruptcy two additional times,
once in 2004 after falling 1.8 billion in debt,
and again in 2009 after missing a bond payment during the financial crisis.
Each time Trump stake in the company fell.
While 3 of trumps four bankruptcies involved Atlantic City casinos,
he has also struggled in other ventures outside of real estate:
Trump airlines, Trump vodka, Trump the game, Trump magazine, Trump steaks and Trump
University were all destined for failure.
Trump mortgages was launched in 2006 right before the real estate crash and it also failed.
According to Trump's campaign he is worth ten billion dollars,
however he has been accused of artificially inflating his net worth.
Forbes and Bloomberg News both have drastically different estimates of his wealth using the
middle-of-the-road figure from Forbes here is how Trump's wealth breaks down:
about 7% of trumps net worth is in cash and liquid assets such as investments,
8% is in golf courses,
and 4% is in his toys such as
his helicopters, penthouse, or a Boeing 757 aircraft.
The majority however is in real estate with Manhattan properties alone making up about half
of his total value.
Thank you for your attention!