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Donald Trump

Donald Trump

For other uses, see Donald Trump (disambiguation). two years, before transferring to the Wharton School of the University of Pennsylvania, because Wharton then had one of the few real estate studies departments in US Donald John Trump (born June 14, 1946) is an Ameri- [24] can real estate magnate, television personality, politician, academia. He graduated in 1968, with a Bachelor of Science degree in economics.[25] and author. He is the chairman and president of and the founder of Trump Enter- Trump came of age for the draft during the Vietnam War. tainment Resorts.[1] Trump’s branding efforts, business In an interview in 2011 on New York station WNYW,[26] career, outspoken manner, media appearances, and books he stated, “I actually got lucky because I had a very high have made him a celebrity. He hosted The Apprentice,[2] draft number.”[27] Selective Service records retrieved by a U.S. television program on NBC. The Smoking Gun from NARA records show that, al- Trump is a son of , a real though Trump did eventually receive a high selective ser- estate developer.[10] Donald Trump worked for his fa- vice lottery number, he was not drafted earlier because of ther’s firm, Elizabeth Trump & Son, while attending the his student deferments (2-S) while attending college, and after receiving a medical deferment (1-Y, later converted Wharton School of the University of Pennsylvania, and, [28] in 1968, officially joined the company.[11] He was given to 4-F) prior to the lottery being initiated. control of the company in 1971, renaming it The Trump Organization.[12][13] Trump remains a major figure in the real estate industry in the and a media 2 Business career celebrity.[14] On June 16, 2015, Trump formally announced his can- Trump began his career at his father’s real estate didacy for President of the United States in the 2016 company,[29] Elizabeth Trump and Son,[30] which fo- election, seeking the nomination of the Republican cused on middle-class rental housing in the New York Party.[15][16] Trump’s early campaigning has seen him City boroughs of Brooklyn, , and Staten Island. catapult to high levels of popular support to the conster- One of Trump’s first projects, while he was still in college, nation of the Republican party leadership.[17] Since late was the revitalization of the foreclosed Swifton Village July 2015, he has been at the top in the public opinion apartment complex in Cincinnati, Ohio, which his father polls for the Republican Party nomination.[18][19] had purchased for $5.7 million in 1962. The Trumps be- came involved in the project and with a $500,000 invest- ment, turned the 1,200-unit complex with a 66 percent 1 Early life and education vacancy rate to 100 percent occupancy within two years. In 1972, the Trump Organization sold Swifton Village for Trump was born on June 14, 1946, in the borough of $6.75 million. Donald’s involvement with the project was Queens in New York City. He is one of five children born to perform some landscaping and menial labor.[31] to Mary Anne (née MacLeod) and Fred Trump, who had In 1971, Trump moved to and became in- married in 1936. His oldest brother, Fred Jr., died in [20] volved in larger building projects and used attractive ar- 1981 at the age of 43. Trump’s mother was a Scottish chitectural design to win public recognition.[10] Trump immigrant, born on the Isle of Lewis, off the west coast initially came to public attention in 1973, when he was ac- of ,[21] and Trump’s paternal grandparents were [22] cused by the Justice Department of violations of the Fair German immigrants. Housing Act in the operation of 39 buildings. Trump in While living in Jamaica Estates, Trump attended the turn accused the Justice Department of targeting his com- Kew-Forest School in Forest Hills, Queens, where Fred pany because it was a large one, and to force it to rent to Trump, Donald’s father, was a member of the Board of welfare recipients. Trump settled the charges in 1975, Trustees. Some of his siblings also attended Kew-Forest. saying he was satisfied that the agreement did not “com- At age 13, after behavior problems led to his dismissal, pel the Trump organization to accept persons on welfare his parents sent him to the New York Military Academy as tenants unless as qualified as any other tenant.”[32] (NYMA), hoping to direct his energy and assertiveness [23] Trump made plans to acquire and develop the old Penn in a positive manner. Central for $60 million with no money down.[33] Later, Trump attended Fordham University in the Bronx for with the help of a 40-year tax abatement from the

1 2 3 BUSINESS VENTURES AND INVESTMENTS

New York City government, he turned the bankrupt flects his net worth as $8.7 billion. Of that amount, $3.3 Commodore Hotel into the Grand Hyatt[34] and created billion is represented by “Real Estate Licensing Deals, The Trump Organization.[35] Brand and Branded Developments,” described by Busi- ness Insider as “basically [implying] that Trump values New York City had a plan to build the Javits Convention [44] Center on property for which Trump held a right-to-buy his character at $3.3 billion.” In July 2015, the Federal option. Trump estimated his company could have com- election regulators released new details of his wealth and pleted the project for $110 million[36] but the city rejected financial holdings when he became a Republican presi- his offer and Trump received a broker’s fee on the sale of dential candidate. the property instead. Repairs on The in Central Park (built in 1955) were started in 1980 with an expected 2½-year construction schedule but was nowhere 3 Business ventures and invest- near completion by 1986. Trump took over the manage- ments ment of the project, at no cost to the city, and completed it in three months for $1.95 million, which was $750,000 less than the initial budget.[37] Main article: The Trump Organization In 1988, Trump acquired the Taj Mahal Casino in a trans- action with Merv Griffin and Resorts International.[38] This expansion, both personal and business, led to mount- ing debt.[39] By 1989, poor business decisions left Trump unable to meet loan payments. Trump financed the construction of his third casino, the $1 billion Taj Mahal, primarily with high-interest junk bonds. Although he shored up his businesses with additional loans and postponed inter- est payments, by 1991, increasing debt brought Trump to business bankruptcy[39] and to the brink of personal bankruptcy. Banks and bond holders had lost hundreds of millions of dollars, but opted to restructure his debt to avoid the risk of losing more money in court. The Taj Mahal emerged from bankruptcy on October 5, 1991, with Trump ceding 50 percent ownership in the casino to the original bondholders in exchange for lowered interest rates on the debt and more time to pay it off.[40] The late 1990s saw a resurgence in his financial situa- tion. In 2001, he completed , a 72- story residential tower across from the United Nations Headquarters.[41] Also, he began construction on Trump Place, a multi-building development along the Hudson River. Trump owns commercial space in Trump Inter- national Hotel and Tower, a 44-story mixed-use (hotel and condominium) tower on Columbus Circle. Trump The Trump Organization owns, operates, develops and invests in owns several million square feet of prime Manhattan real real estate around the world such as Trump International Hotel estate.[42] and Tower in Chicago. Trump has developed many real estate projects, such as Trump International Hotel and Tower – Honolulu, Trump International Hotel and Tower – Chicago, Trump Inter- 3.1 Trump branding and licensing national Hotel and Tower – Toronto, and – Tampa. In Fort Lauderdale, Florida, one of Trump’s Beyond his traditional ventures in the real estate, hos- construction projects was put on hold in favor of an- pitality, and entertainment industries, Trump has estab- other (Trump International Hotel and Tower – Fort Laud- lished the Trump name and brand in other industries and erdale). Meanwhile, Trump Towers Atlanta One was de- products. Trump has succeeded in marketing the Trump veloped in a housing market having the nation’s second- name on a large number of products, including Trump highest inventory of unsold homes.[43] Financial (a mortgage firm), Trump Sales and Leasing In 2015, Forbes estimated his net worth at $4.1 billion.[2] (residential sales), Trump Restaurants (located in Trump In June 2015, Business Insider published a June 30, 2014, Tower and consisting of Trump Buffet, Trump Catering, financial statement supplied by Trump. The statement re- Cream Parlor, and Trump Bar), GoTrump 3.1 Trump branding and licensing 3

(an online travel website),[45] Donald J. Trump Signature Collection (a line of menswear, men’s accessories, and watches), Donald Trump The Fragrance (2004), Trump magazine, Trump Golf, Trump Chocolate, (home furnishings), (a television pro- duction company), Trump Institute, Trump The Game (1989 board game), Donald Trump’s Real Estate Ty- coon (a business simulation game), Trump Books, , , Trump Ice, , , and . In addition, Trump reportedly receives $1.5 million for each one-hour presentation he does for The Learning Annex.[46] In 2011, Forbes’ financial experts estimated the value of the Trump brand at $200 million. Trump disputes this valuation, saying that his brand is worth about $3 billion.[47] Many developers pay Trump to market their properties and to be the public face for their projects.[48] For that reason, Trump does not own many of the build- ings that display his name.[48] According to Forbes, this portion of Trump’s empire, actually run by his children, is by far his most valuable, having a $562 million valuation. According to Forbes, there are 33 licensing projects under development including seven “condo hotels” (the seven Trump International Hotel and Tower developments). Trump Tower, at 725 Fifth Avenue, Manhattan

3.1.1 Net worth , New York City. It was developed In April 2011, amidst speculation whether Trump would by Trump and the Equitable Life Assurance Company. run as a candidate in the US presidential election of 2012, It is now just developed/owned by Donald Trump, and quoted unnamed sources close to him stating that, designed by Der Scutt of Swanke, Hayden Connell. if Trump should decide to run for president, he would file “financial disclosure statements that [would] show his 3.1.3 Stock market investments net worth [was] in excess of $7 billion with more than $250 million of cash, and very little debt.”[49] (Presiden- In 2011, Trump made a rare foray into the stock mar- tial candidates are required to disclose their finances after ket after being disappointed with the depressed Ameri- announcing their intentions to run.) Although Trump did can real estate market and facing poor returns on bank de- not run as a candidate in the 2012 elections, his profes- posits. He stated that he wasn't a stock market person, but sionally prepared 2012 financial disclosure was published he also stated that prime real estate at good prices is hard in his book stating a $7 billion net worth.[50] Estimates to get. Among the stocks Trump purchased, he stated he of Trump’s net worth have fluctuated along with real es- bought stock in Bank of America, Citigroup, Caterpillar tate valuations: In 2015, Forbes listed it as $4.1 billion.[5] Inc., Intel, Johnson & Johnson, Procter & Gamble.[52] On June 16, 2015, just prior announcing his candidacy and Facebook.[53] On selling stock picks in 2014, Trump for President of the United States, Trump released pro- earned a $27 million profit, with 40 of the 45 stocks he fessionally prepared financial disclosure statements to the purchased generating a profit in 2014.[54] media stating a net worth of almost $9 billion.[51] In July 2015, the Federal election regulators released new details of his wealth and financial holdings when he became a 3.1.4 Sports Republican presidential candidate, reporting that his as- sets are worth above $1.4 billion, which includes at least In 1983, Trump purchased the for $70 million in stocks, and he carries a debt of at least the inaugural season of the United States Football League $265 million.[3][4] (USFL). The Generals hired former head coach . Prior to the inaugural season, Trump sold the franchise to Oklahoma oil magnate J. 3.1.2 Trump Tower Walter Duncan. Prior to the 1984 season, Duncan sold [55] Main article: Trump Tower (New York City) the team back to Trump. Trump Tower is a 58-story mixed-use skyscraper at The USFL planned to play its 1986 schedule in the fall, 725 Fifth Avenue, at the corner of East 56th Street in directly opposite the NFL, thanks mostly to Trump’s 4 4 ENTERTAINMENT MEDIA

strong advocacy of direct competition with the older, es- 3.2 Beauty pageants tablished league. Two years earlier, Trump sold most of his fellow owners on a move to the fall by arguing Further information: Miss USA and that it would eventually force a merger with the NFL— in which the owners of any USFL teams included in a merger would see their investment more than double. Trump has owned the Miss Universe and Miss USA beauty pageants since 1996. Among the most recognized The Generals merged with the during beauty pageants in the world, the pageant was founded in the extended offseason, adding such stars as 1952 by the clothing company Pacific Mills. and . Michaels was fired, replaced with former Gamblers coach , In 2015, NBC and Univision both ended their business who planned to bring the Gamblers’ high-powered run relationships with the Miss Universe Organization after and shoot offense with him. However, the USFL’s Trump’s presidential campaign kickoff speech on June “Dream Team” never took the field. The 1986 season 16, in which he stated: was cancelled after the USFL won a minimal verdict in an antitrust lawsuit against the NFL; the league folded soon afterward. “The U.S. has become a dumping ground Trump at one time acted as a financial advisor for Mike for everybody else’s problems. Thank you. Tyson,[56] hosting Tyson’s fight against Michael Spinks in It’s true, and these are the best and the Atlantic City.[57] finest. When Mexico sends its people, they’re not sending their best. They’re not send- ing you. They’re not sending you. They’re sending people that have lots of problems, and they’re bringing those problems with us. 3.1.5 Golf They’re bringing drugs. They’re bringing crime. They’re rapists. And some, I assume, are good people.”[65]

Trump subsequently filed a $500 million lawsuit against Univision alleging a breach of contract and defamation. Cable network Reelz then acquired the rights to exclu- sively telecast the Miss USA pageant.[66][67]

4 Entertainment media

In the media, Trump is a two-time Emmy Award– nominated personality, has made appearances as a cari- Hotel, , Scotland catured version of himself in television series and films (e.g. Home Alone 2: Lost in New York, The Nanny, The Fresh Prince of Bel-Air, Days of Our Lives, Wall [68] The Trump Organization operates many golf courses and Street: Money Never Sleeps. ), and as a character (The resorts in the United States and around the world.[58] On Little Rascals). He has been the subject of comedi- February 11, 2014, it was announced that Trump had ans, Flash cartoon artists, and online caricature artists. Trump also had his own daily talk radio program called purchased Doonbeg Golf Club in the Republic of Ire- [69][70][71][72][73] land. It was confirmed that Doonbeg Golf Club would Trumped!. be renamed Trump International Golf , Ireland.[59] In March 2011, Trump was the subject of a Comedy In 2006, Trump bought the Menie estate in Balmedie, Central Roast. The special was hosted by Seth Mac- Aberdeenshire, Scotland creating a highly contentious Farlane, and roasters included Larry King, Snoop Dogg, golf resort.[60][61] In April 2014, Trump purchased the and Anthony Jeselnik among regular roast participants. Turnberry hotel and golf resort in Ayrshire, Scotland, Trump’s daughter Ivanka was seen in the audience. In which is a regular fixture in April 2011, Trump attended the White House Correspon- rota.[62][63] In June 2015, Trump’s appeal objecting to dents’ Dinner, featuring comedian Seth Meyers. Presi- an offshore windfarm (Aberdeen Bay Wind Farm) within dent Obama used the occasion to present several prepared sight of the golf links was denied.[64] jokes mocking Trump.[74] 4.2 World Wrestling Entertainment 5

another season because of the possibility of a presidential run.[78] Despite this, on March 18, NBC announced they were going ahead with production.[79] On June 29, af- ter widespread negative reaction stemming from Trump’s campaign announcement speech, NBC released a state- ment saying, “Due to the recent derogatory statements by Donald Trump regarding immigrants, NBCUniversal is ending its business relationship with Mr. Trump,” appar- ently ending Trump’s role in The Apprentice.[80]

4.2 World Wrestling Entertainment

Trump is a known World Wrestling Entertainment fan and friend of WWE owner Vince McMahon. He has hosted two WrestleMania events in the Trump Plaza and has been an active participant in several of the shows.[81] Trump’s Trump Taj Mahal in Atlantic City was host to the 1991 WBF Championship (which was owned by WWE, known at the time as the “World Wrestling Fed- eration”). Trump was interviewed by Jesse Ventura ring- side at WrestleMania XX.[82] He also appeared at WrestleMania 23 in a match called “The Battle of the Billionaires.”[81] Trump was in the Trump with during the latter’s participation on corner of , while Vince McMahon was in The Apprentice the corner of Lashley’s opponent with as the special guest referee.[81] The stipula- 4.1 The Apprentice tion of the match was hair versus hair, which means that either Trump or McMahon would have their head shaved if their competitor lost.[81] Lashley won the match, and In 2003, Trump became the executive producer and host he and Trump shaved McMahon bald.[81] of the NBC reality show, The Apprentice, in which a group of competitors battled for a high-level management On June 15, 2009, as part of a storyline, McMahon an- job in one of Trump’s commercial enterprises. Contes- nounced on Monday Night Raw that he had “sold” the tants were successively “fired” and eliminated from the show to Trump.[81] Appearing on screen, Trump declared game. In 2004, Donald Trump filed a trademark applica- he would be at the following commercial-free episode in tion for the catchphrase "You're fired.” person and would give a full refund to the people who purchased tickets to the arena for that night’s show.[81] For the first year of the show, Trump was paid $50,000 McMahon “bought back” Raw the following week for per episode (roughly $700,000 for the first season), but twice the price.[81] His entrance theme “Money, Money” following the show’s initial success, he is currently paid was written by Jim Johnston. a reported $3 million per episode, making him one of the highest paid TV personalities. In July 2015, Trump Trump was inducted into the celebrity wing of the WWE reported in his personal financial disclosure statement Hall of Fame in 2013 at Madison Square Garden for with the Federal Election Commission that NBCUniver- his contributions to the promotion. He made his fifth sal had paid him $213,606,575 for his 14 seasons of host- WrestleMania appearance the next night.[83] ing the show.[75] In 2007, Trump received a star on the Hollywood Walk of Fame for his contribution to televi- sion (The Apprentice).[76] 5 Politics Along with British TV producer , Trump also put together , in which well- A 2011 report by the Center for Responsive Politics known stars compete to win money for their charities. showed that over two decades of US elections, Donald While Trump and Burnett co-produced the show, Trump Trump made contributions to campaigns of both Re- stayed in the forefront, deciding winners and “firing” publican Party and Democratic Party candidates.[84] In losers. February 2012, Trump endorsed Mitt Romney for pres- On February 16, 2015, NBC announced that they would ident of the United States.[85] Trump was an early sup- be renewing The Apprentice for a 15th season.[77] 11 days porter of Ronald Reagan for president of the United later, Trump stated that he was “not ready” to sign on for States.[86] 6 5 POLITICS

he was still actively considering a run.[109][110] His moves were interpreted by some media as possible promotional tools for his reality show The Apprentice.[111][112][113] On May 16, 2011, Trump announced he would not run for president.[111] Public Policy Polling described the events of May 2011 as “one of the quickest rises and falls in the history of presidential politics.”[114] In December 2011, Donald Trump was named among the top six of the ten most admired men and women living, according to a USA Today/Gallup poll.[115] In January 2013, Trump (who is a notably popular fig- ure in ,[116] where his name is attached to products [117] Donald Trump speaking at the 2015 Conservative Political Ac- sometimes without his permission) released a video tion Conference (CPAC) in National Harbor, on endorsing Israeli Prime Minister Benjamin Netanyahu February 27, 2015 during the 2013 Israeli elections, stating that “A strong prime minister is a strong Israel.”[118][119] In 2015, Trump was awarded the 'Liberty Award' at the 'Algemeiner Jew- In April 2011, he questioned President 's ish 100 Gala' in honor of his positive contributions to [120] proof of citizenship.[87] Trump also questioned whether US–Israel relations. Trump stated: “I have so many [121] Obama had good enough grades to warrant entry to Har- friends in Israel.” vard Law School.[88] On April 25, 2011, Trump called for In 2013, Trump was a featured speaker at the Obama to end the citizenship issue by releasing the long- Conservative Political Action Conference (CPAC).[122] form of his birth certificate.[89][90] Two days later, Obama The speech was not well-attended.[123] He spent over $1 made a formal statement in efforts by the White House million to research a possible run for president of the to put the matter to rest with the release of the long-form United States.[124] In October 2013, New York Republi- of Obama’s birth certificate.[91] Trump expressed pride cans had circulated a memo suggesting Trump should run at his role in the release of the long-form certificate in a for governor of the state in 2014 against Andrew Cuomo. press conference follow-up.[92] Trump said that while New York had problems and taxes Donald Trump has spoken before Tea Party were too high, running for governor was not of great in- [125] supporters.[93][94][95] In December 2008, Trump terest to him. In February 2015, Trump opted not to emerged as an early supporter of the 2009 government renew his television contract for The Apprentice, gener- backed rescue plan for the US auto industry which ating speculation that he might run for President of the [126] by 2012 was supported by 56% of Americans (63% United States in 2016. support in Michigan), according a Pew Research Center poll.[96][97] Statements of Trump’s hinting that vacci- nation would cause autism were subject to criticism in 5.1 Presidential campaign, 2016 various media by the scientific community.[98][99] He has also been criticized for climate change-denying Main article: Donald Trump presidential campaign, 2016 statements, because they are discordant with the opinion [100] of the scientific community. Trump formally announced his candidacy for president Trump floated the idea of running for president in 1988, of the United States in the 2016 elections on June 16, 2004, and 2012, and for governor of New York in 2006 2015, from his headquarters in Trump Tower in New and 2014, but did not enter those races.[101][102] He ran for York City.[15][16] Trump launched his campaign declar- the presidential nomination of the Reform Party in 2000, ing the official slogan, “We are going to make our coun- winning the party’s California primary.[103][104][105][106] try great again” with a commitment to become the “great- As Trump publicly speculated about seeking the 2012 est jobs president that God ever created.”[16][127] A sur- Republican presidential nomination, a Wall Street Jour- vey conducted by The Economist/YouGov released July nal/NBC News poll released in March 2011 found Trump 9, 2015 became significant as the first major nationwide leading among potential contenders, one point ahead poll to show Trump as the 2016 Republican presidential of former Massachusetts Governor Mitt Romney.[107] frontrunner.[128] A Suffolk/USA Today poll released on A Newsweek poll conducted in February 2011 showed July 14, 2015 showed a 17% support for Trump among Trump within a few points of Barack Obama, with many Republican voters, with runner-up Jeb Bush picking up voters undecided in the November 2012 general election 14%.[129] A Washington Post-ABC News poll taken on for president of the United States.[108] A poll released in July 16–19 showed Trump had 24% Republican support, April 2011 by Public Policy Polling showed Trump hav- over Scott Walker at 13%.[130] A CNN/ORC poll showed ing a nine-point lead in a potential contest for the Repub- Trump in the lead at 18% support among Republican lican nomination for President of the United States while voters, over Jeb Bush at 15%.[131][132] In CBS news poll 7

Donald Trump

Donald Trump campaigning at the Laconia Rally, Laconia, New Hampshire.

from August 4, Trump was again first with 24% of sup- port, Bush was second at 13% and Walker was third at 10%.[133]

6 Personal life

Trump is popularly known as The Donald, a nickname perpetuated by the media after his first wife referred to him as such in an interview.[134] Trump’s mother, Mary Anne, was born in 1912 at Tong, Stornoway on the Isle of Lewis, off the coast of Scotland. In 1930, aged 18, on a holiday in New York, she met Fred Trump and stayed in New York. Born in Queens, New York,[135] Trump has four siblings: two brothers, Fred, Jr. (who is deceased) and Robert S. Trump; and two sis- ters, Maryanne and Elizabeth. His older sister, , is a federal appeals court judge. In 1977, Trump married Ivana Zelníčková, a native of the Czech Republic, and together they have three children: Donald, Jr. (born December 31, 1977), Ivanka (born October 30, 1981), and Eric (born January 6, 1984). They were divorced in 1992. In 1993, he married Marla Melania Knauss-Trump Maples and together they had one child, Tiffany (born October 13, 1993). They divorced on June 8, 1999. In a February 2008 interview on ABC’s news program Nightline, Trump commented on his ex-wives by saying, 8 7 LEGAL AFFAIRS

“I just know it’s very hard for them [Ivana and Marla] to lion personal debt by 1994[154] and reduced significantly compete because I do love what I do. I really love it.” his nearly $3.5 billion in business debt. While he relin- On April 26, 2004, he proposed to Melania Knauss, a na- quished the Trump Princess yacht and the Trump Shut- tive of Slovenia. Trump and Knauss married on January tle (which he had bought in 1989), he managed to re- 22, 2005, at Bethesda by the Sea Episcopal Church, on tain Trump Tower in New York City and control of his the island of Palm Beach, Florida, followed by a reception three casinos in Atlantic City. Trump sold his owner- at Trump’s Mar-A-Lago estate.[136] Melania gave birth to ship of West Side Yards to Asian developers as a result a boy named Barron William Trump, Trump’s fifth child, of his negotiations with Chase Manhattan Bank. Trump was reportedly paid a premium for placing his well known on March 20, 2006.[137][138] moniker on the buildings that eventually arose. In 1995, Trump has seven grandchildren: five from his son Don- he combined his casino holdings into the publicly held ald Jr. (Kai Madison,[139] Donald John III,[140] Tris- Trump Hotels & Casino Resorts. The real estate as- tan Milos,[141] Spencer Frederick and Chloe Sophia) and sets became a source of wealth even when profits had two from his daughter Ivanka (Arabella Rose and Joseph struggled.[155] Frederick[142][143]). The third corporate bankruptcy was on October 21, 2004, Trump is a Presbyterian.[9] In an April 2011 interview, on when Trump Hotels & Casino Resorts announced a re- the 700 Club, Trump said, “I'm a Protestant, I'm a Pres- structuring of its debt.[156] The plan called for Trump’s byterian. And you know I've had a good relationship with individual ownership to be reduced from 56 percent to 27 the church over the years. I think religion is a wonderful percent, with bondholders receiving stock in exchange for thing. I think my religion is a wonderful religion.”[144][145] surrendering part of the debt. Trump Hotels was forced Of his daughter Ivanka’s conversion to Judaism he said: to seek voluntary bankruptcy protection to stay afloat. “Not only do I have Jewish grandchildren, I have a Jewish After the company applied for Chapter 11 Protection in daughter and I am very honored by that.”[146] November 2004, Trump opted to relinquish his CEO po- sition but retained a role as Chairman of the board. In May 2005[157] the company emerged from bankruptcy as [158] 7 Legal affairs Trump Entertainment Resorts Holdings. The most recent corporate bankruptcy occurred in 2009. On February 13, Trump announced that he would re- Four of Trump’s businesses have declared Chapter sign from the board of Trump Entertainment Resorts 11 bankruptcy.[147] According to a 2011 report by and four days later the company filed for Chapter 11 Forbes, these were due to over-leveraged hotel and bankruptcy.[159] At that time, Trump Entertainment Re- casino businesses in Atlantic City: Trump’s Taj Mahal sorts had three properties in Atlantic City: Trump Taj (1991), Trump (1992), Trump Hotels and Mahal, Trump Plaza, and Trump Marina (sold in 2011). Casino Resorts (2004), and Trump Entertainment Re- In early August 2014, Donald Trump filed a lawsuit re- sorts (2009).[148][149] Trump said “I've used the laws of questing his name be removed from the Trump Plaza Ho- this country to pare debt. … We'll have the company. tel and Casino and the Taj Mahal facilities since he no We'll throw it into a chapter. We'll negotiate with the longer runs or controls the company.[160] Trump Enter- banks. We'll make a fantastic deal. You know, it’s like on tainment Resorts filed again for bankruptcy in 2014.[161] 'The Apprentice'. It’s not personal. It’s just business.”[150] He indicated that other “great entrepreneurs” do the In 1973, the Justice Department unsuccessfully sued same.[148] Trump Management Corporation for alleged racial dis- crimination, at which time Trump was the company’s Trump’s first corporate bankruptcy was in 1991 when president.[162] The federal government filed the lawsuit Trump Taj Mahal was unable to pay its obligations.[150] against his New York City real estate company for al- Forbes indicated that his first bankruptcy was the only legedly discriminating against potential black renters, one where his personal wealth was involved. Time, how- which Trump never admitted. The case was settled out ever, maintains that also in the later 2004 bankruptcy $72 of court in 1975.[163] million of his personal money was involved.[151] In March 1990, after an analyst at Janney Montgomery On November 2, 1992, the Trump Plaza Hotel filed a Scott said that Trump’s Taj Mahal project would initially prepackaged Chapter 11 protection plan. Under the plan, “break records” but would fail before the end of that Trump agreed to give up a 49 percent stake in the lux- year, Trump threatened to sue the firm unless the an- ury hotel to and five other lenders.[152] In return alyst recanted or was fired. The analyst refused to re- Trump would receive more favorable terms on the re- tract the statements, and was fired by his firm.[164] Taj maining $550+ million owed to the lenders, and retain his Mahal declared bankruptcy for the first time in Novem- position as chief executive, though he would not be paid ber 1990.[165] A defamation lawsuit by the analyst against and would not have a role in day-to-day operations.[153] Trump for $2 million was settled out of court.[166] The In the subsequent restructuring of these two events, analyst’s statements regarding the Taj Mahal’s prospects Trump had eliminated a large portion of his $900 mil- 9

were later called “stunningly accurate.”[167] ment against her, having been sued by Trump after al- In January 2002, the Securities and Exchange Commis- leging that Miss USA 2012 pageant results were rigged. sion brought a financial-reporting case against Trump Ho- Monnin wrote on her Facebook page that another con- tels & Casino Resorts Inc., alleging that it had com- testant told her during a rehearsal she had seen a list mitted several “misleading statements in the company’s of the top five finalists, and when those names were third-quarter 1999 earnings release.” The matter was set- called in their precise order, Monnin realized the pageant tled with the defendant neither admitting nor denying the election process was suspect, compelling Monnin to re- charge.[168] sign her Miss Pennsylvania title. Trump’s lawyer said that Monnin’s allegations had cost the pageant a lucra- During the 2008 financial crisis, Trump International Ho- tive British Petroleum sponsorship deal and threatened to tel and Tower in Chicago was unable to sell sufficient discourage women from entering Miss USA contests in units. Lender Deutsche Bank refused to let Trump lower the future.[181] According to Monnin, testimony from the the prices on the units to spur sales. Arguing that the Miss Universe Organization and Ernst & Young revealed financial crisis and resulting drop in the real estate mar- that the top 15 finalists were selected by pageant direc- ket is due to circumstances beyond his control, Trump tors regardless of preliminary judges’ scores.[182] As part invoked a clause in the contract to not pay the loan.[169] of the settlement, Monnin was not required to retract her Trump then initiated a suit asserting that his image had original statements.[181] “Standing on truth has cost me been damaged. Both parties agreed to drop their suits, much,” Monnin said.[183] and sale of the units went on.[170] In late October 2014, model Alexia Palmer filed a civil In September 2011, an appellate court upheld a New suit against Trump Model Management for promising Jersey judge’s decision dismissing Trump’s $5 billion a $75,000 annual salary but paying only $3,380.75 for defamation lawsuit against author Timothy L. O'Brien, three years’ work. Palmer claims to be owed more than who had reported in his 2006 book, TrumpNation: The $200,000. Palmer charged that Trump Model Manage- Art of Being The Donald, that Trump’s true net worth ment, charged, in addition to a management fee, “ob- was in fact between $150 and $250 million, not the “bil- scure expenses” from postage to limousine rides that con- lions” Trump had told the author and publicly stated in sumed the remainder of her compensation. Trump attor- 2005.[171] Trump complained that the author’s alleged un- ney Alan Garten claims the lawsuit is “bogus and com- derestimation of his net worth was motivated by mal- pletely frivolous.”[184][185] ice and had cost him business deals and reputational damage.[172] The appellate court, however, noted the con- In 2015, Trump initiated a $100 million lawsuit against sistency of O'Brien’s three confidential sources.[173] Palm Beach County claiming that officials, in a “deliber- ate and malicious” act, pressured the FAA to direct air After producing his birth certificate, Trump sued come- traffic to the Palm Beach International Airport over his dian Bill Maher for $5 million in 2013 after remarks Mar-A-Lago estate.[186] The air traffic is allegedly dam- made on The Tonight Show with Jay Leno. Trump aging the construction of the building and disrupting its claimed Maher’s $5 million reward, payable to a char- ambience. Trump had previously sued twice over airport ity, if he proved he wasn't the son of an orangutan, was a noise.[186] serious offer. “That wasn't a joke,” Trump said. Trump withdrew his lawsuit after eight weeks.[174] In 2015, Trump initiated a $10 million lawsuit against José Andrés claiming that he backed out of a deal to On August 24, 2013, a lawsuit filed by New York Attor- open the flagship restaurant at Trump International Ho- ney General Eric Schneiderman, whose claims were dis- tel Washington, D.C..[187] missed by the Manhattan Superior Court, had accused Pulitzer Prize-winning journalist David Cay Johnston Trump of defrauding more than 5,000 people of $40 million for the opportunity to learn Trump’s real estate as well as investigative journalist Wayne Barrett, who wrote an unauthorized 1992 Trump biography, have al- investment techniques in a for-profit training program, .[175][176][177] On January 30, 2014, the leged that Trump and his companies did business with New York and Philadelphia families linked to the Italian- New York court dismissed all of the Attorney General’s [188][189] fraud claims against Trump, allowing only the licens- American Mafia. Trump purchased the future ing aspect of the case to proceed.[178] In October 2014, site of Atlantic City’s Trump Plaza for twice its mar- the New York court found Trump only liable for not ket value from noted Philadelphia crime family member obtaining a license to operate the for-profit investment Salvatore Testa, and according to the State of New Jersey school, Trump Entrepreneur Initiative, formerly known Commission of Investigation’s 1986 report on organized [179] crime, constructed the casino using two firms controlled as Trump University. In a separate class action civil [189] suit in mid-February 2014, a San Diego federal judge al- by Nicodemo “Little Nicky” Scarfo, Sr. Although lowed claimants in California, Florida, and New York to Trump was a federal target in a 1979 bribery investiga- proceed.[180] tion, and later questioned in a 1981 racketeering probe, neither investigation resulted in criminal charges.[189] In August 2014, former 2012 Miss Pennsylvania Sheena Trump omitted mention of the federal bribery investi- Monnin ultimately settled a $5 million arbitration judg- 10 11 REFERENCES

gation from his New Jersey casino license application • Trump: The Art of the Comeback (1997), co-written and persuaded state officials to limit his background with Kate Bohner. investigation.[188] In addition, Trump Tower and other • New York City properties were constructed with concrete Trump: How to Get Rich (2004) from a firm owned by Anthony “Fat Tony” Salerno, head • : The Best Business Advice I Ever of the Genovese crime family, and “Big Paul” Castellano, Received (2004) head of the Gambino crime family.[188] Trump walked out of a BBC Panorama interview after being asked why • Trump: Think Like a Billionaire: Everything You he continued to do business for a year with Felix Sater, Need to Know About Success, Real Estate, and Life an ex-convict who identified himself a “senior advisor (2004) to Donald Trump” (a claim disputed by Trump’s repre- sentatives), after Sater’s mafia and Russian criminal ties, • Trump: The Best Golf Advice I Ever Received (2005) as well as a 1998 racketeering conviction, were publicly • reported.[190][191] Why We Want You to be Rich: Two Men – One Mes- sage (2006), co-written with Robert Kiyosaki.

• Think Big and Kick Ass in Business and Life (2007), 8 Awards and honors co-written with Bill Zanker.(ISBN 978-0-06- 154783-6)

(2000) (with Dave Shiflett, ISBN 1-58063-131-2)

• Trump: The Best Real Estate Advice I Ever Received: 100 Top Experts Share Their Strategies (2007)

• Trump 101: The Way to Success (2007)

• Trump Never Give Up: How I Turned My Biggest Challenges into Success (2008)

• Think Like A Champion: An Informal Education in Business and Life (2009)

: Why Some Entrepreneurs Get Rich- Trump’s star on the Hollywood Walk of Fame And Why Most Don't (2011), co-written with Robert Kiyosaki. (ISBN 1-61268-095-X) • • Gaming Hall of Fame (class of 1995)[192] : Making America No. 1 Again. Regnery Publishing. December 5, 2011. p. 256. • NY Ride of Fame (class of 2010)[193] ISBN 978-1-59698-773-9. • Honorary Doctor of Business Administration (Hon. [194] D.B.A.), 2010, Robert Gordon University 10 See also • Honorary Doctor of Business (Hon. D.B.), 2012, [195] Liberty University • List of American restaurateurs • WWE Hall of Fame (class of 2013) • You've Been Trumped, movie • Star on the Hollywood Walk of Fame 11 References 9 Bibliography [1] Hoover’s coverage by Diane Ramirez (January 2, 2008). “The Trump Organization information and related indus- Trump has written many books, including: try information from Hoover’s United Kingdom (UK)". Hoovers.com. Retrieved September 25, 2011. • Trump: The Art of the Deal (1987) [2] “Donald Trump”. Forbes. Retrieved June 20, 2015. • Trump: Surviving at the Top (1990) [3] “Donald Trump wealth details released by federal regula- • Trump: The Art of Survival (1991) tors”. Yahoo News. Retrieved August 9, 2015. 11

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12 Further reading

• Blair, Gwenda (2000). The Trumps. Simon & Schuster. ISBN 0-684-80849-8. • Trump column archives at The Huffington Post

13 External links

• Official campaign website

• Trump biography – The Trump Organization • Donald Trump collected news and commentary at The Wall Street Journal • Donald Trump collected news and commentary at The Guardian • Appearances on C-SPAN

• Donald Trump at DMOZ 17

14 Text and image sources, contributors, and licenses

14.1 Text

• Donald Trump Source: https://en.wikipedia.org/wiki/Donald_Trump?oldid=675934515 Contributors: Eloquence, Devotchka, Kowloonese, Danny, William Avery, AntonioMartin, Stevertigo, Frecklefoot, Edward, HollyAm, Michael Hardy, Modster, Liftarn, Gabbe, Ixfd64, Zanimum, Dori, Mprudhom, Tregoweth, Radicalsubversiv, Ronabop, Ellywa, Ahoerstemeier, Bueller 007, Darkwind, Bogdan- giusca, Vzbs34, Agtx, Redjar, Adam Bishop, Rainer Wasserfuhr~enwiki, Andrevan, CTSWyneken, Dysprosia, Jay, Fuzheado, Whisper- ToMe, Timwhit, Tpbradbury, Tschild, Furrykef, Itai, Nv8200pa, Thue, Nricardo, Raul654, Jason M, Johnleemk, Palefire, RadicalBender, Calieber, Huangdi, Jni, Bearcat, RedWolf, Moncrief, ZimZalaBim, Romanm, Postdlf, Llavigne, Polonius, Merovingian, Der Eberswalder, Flauto Dolce, Meelar, Rasmus Faber, Andrew Levine, Matty j, Hadal, UtherSRG, Saforrest, Mushroom, Seth Ilys, Xanzzibar, Ameri- canCentury21, Pengo, GreatWhiteNortherner, JamesMLane, Knobunc, DocWatson42, Christopher Parham, Nmg20, 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