INTERVIEW EW I V InterviewINTER The Value of a Name An Interview with Donald J. Trump, President and Chief Executive Officer, The Trump Organization, New York Jersey, and in Los Angeles; a major percentage of You’re building a few more Trump the publicly traded Trump Hotels & Casino Resorts International Hotel & Tower buildings out- in Atlantic City, New Jersey; and is co-owner with side of New York. Are hotels something you NBC of the Miss Universe Organization. He is also are going to continue building? the co-producer of The apprentice. We have a number of hotels and hotel/con- dominium buildings going up right now. It has Today, you’re almost better known for been a great concept for us. It worked very well your entertainment ventures, such as “The in Florida, and it worked very well in new York. Apprentice” and the Miss U.S.A. pageant, We have the number-one hotel in the city at than you are for your real estate business. Trump International Hotel & Tower. We also do Does that shift in the public’s thinking a lot of residential real estate, but the concept of bother you? the hotel/condominium has been good for us; Well, real estate is my primary business; for other people, it hasn’t worked as well. but it took a little bit of a turn, because of the People equate the name Trump with great success of The Apprentice, which became high-end residences. Would you describe the number one show on television. It has been some of your current projects? an amazing success. People started viewing me I just completed a building on 59th and as an entertainer as opposed to a real estate per- Park avenue, where the Hotel delmonico was. son, although the people in the business know It’s called Trump Park avenue, and it has been Donald J. Trump that my primary business is real estate, and that a huge success. I don’t think people even re- I do the highest-quality projects. alize how successful that building has been. EDITORS’ NOTE A graduate of the Wharton Real estate development today is a amazing people live in the building. The price School of the University of Pennsylvania, Donald competitive field. How do you demonstrate per square foot is fantastic, and it has been a Trump is the author of seven best-selling books – what makes a Trump property unique? real winner. I recently built the tallest residen- The art of the deal, surviving at the Top, The The best thing I have, in terms of differen- tial building in the world, opposite the united art of the Comeback, How to Get rich, Think tiation, is the name Trump. I put it on a building nations, that received great reviews in the New Like a billionaire, Trump 101: The Way to and the building just becomes more successful. York Times. It’s called Trump World Tower, success, Why We Want You to be rich, as well We have a job in Waikiki, Hawaii, and it sold and that has been a great success. The jobs as The america We deserve. He serves on the $729 million worth of apartments in one day, I’ve done have been very successful, and not board of the Police Athletic League, on the ad- which is a record in the united states. It liter- only in new York. I have a 300-acre job in visory boards of Lenox Hill Hospital and United ally took five hours to sell $729 million worth of California, on two and a half miles of the ocean Cerebral Palsy, as Chairman of the Donald J. apartments. other people are building in that lo- in Palos verdes in Los angeles. That has been Trump Foundation, and as Cochairman of the cation, and they’re not having great luck. We’ve an enormous success also. It’s a golf course New York Vietnam Veterans’ Memorial Fund. In really set a very high standard. a lot of it has with spectacular mansions being built on it. my January of 2007, Trump received a star on the to do with the fact that people have confidence career has been very interesting. I started in Hollywood Walk of Fame. in me; they know if they buy an apartment in brooklyn and Queens, and now we’re doing a Trump building, they have the best location, jobs all over the world. Company Brief: The New York-based Trump the best product, and the best layouts, and ceil- And now you’re in Las Vegas as well. Organization (www.trump.com) is one of the ing heights, window sizes, and fixtures – all of We’re having phenomenal success in Las largest real estate development companies in the the things that go into making good real estate. vegas. I’m building a 68-story tower – the tallest world, and the Trump signature is synonymous We’ve had tremendous successes over the last building in Las vegas, by far. It’s just now being with the most prestigious of addresses. Among number of years. completed, and people will start moving in by them are the Trump Building at 40 Wall Street, Is your outlook also strong for the New January. It has been a tremendous success. It’s the Trump World Tower opposite the United York City market? totally sold out, and it’s one of the most success- Nations, Trump Tower on Fifth Avenue, the If you, as a developer, can get land in new ful jobs that I’ve done. Trump International Hotel & Tower at Columbus York City, that’s the advantage. It’s an island You also enjoy a good presence in Circle, and the luxury residences Trump Palace unto itself. It’s a small sliver of land in the mid- Korea. Is extending your reach outside of and Trump Park Avenue. There are currently 33 dle of two rivers and an ocean. It’s not the same the U.S. an important initiative for you? real estate projects being developed nationally as other cities, where land is essentially unlim- Korea has been an incredible success for and internationally by The Trump Organization. ited. I think new York is going to continue to be Trump. We’ve made a lot of money in Korea, In addition, the organization owns The Mar-a- strong. I’m doing a building in Chicago that has and we have great partners there. Throughout Lago Club and Trump International Golf Club in been very strong. I’m doing buildings all over the world, the Trump name has become associ- Palm Beach Florida; Trump National Golf Clubs the world, and the markets that I’m in, generally ated with the most successful jobs. Korea is a in Briarcliff Manor, New York, Bedminster, New speaking, have been very strong. good example: The first building we did there 14 Leaders voLume 30, number 3 Finance, and they were terrific students. I have and alcohol problems, rather than turning my another son eric who just joined us. so I’m three cheek, I fight her back and let the world know for three, when they reach a certain age. I’m what she is – a total low form. I say that where very happy with what they’ve done. other people tend not to, but that’s just my per- And what about your one-year-old son? sonality. I’m very happy with it. Polls that have Do you have an age limit for when he can been taken show that I absolutely killed her. get involved in the business? The public is very smart; they understand what’s no, not an age limit, but I think he’ll prob- going on. I thought it would be appro priate to ably be like the others. He’s a very strong boy – attack her, and I’m glad I did. even at one you can tell. and he’s very solid like So many public figures say in the his mother, so I think he’ll be very good. press, “I wish I could have a private life.” Do you feel like the public understands Some people say that you enjoy being in the you, even with all of the attention you re- press. Is that true? ceive in the media? no, I don’t. I have no choice. For exam- I think people give me a lot of credit for ple, LEADERS called me for this interview. I didn’t call you. and as we speak, there are other reporters calling, was so successful, we ended up wanting to get an interview. I get building three more. very high ratings, and I get a lot The Apprentice has been of media attention. If I didn’t get very successful. Do you think that kind of hoopla, the media you’ll do another season? wouldn’t be writing about me, Well, they’d like me to con- and they wouldn’t call me for tinue it. It’s now in its sixth season. interviews. They wouldn’t care. don’t forget, this was supposed but, for some reason, I do. You to be a one-season wonder; but should explain the reason to me it did so well in the ratings, that someday. nbC asked me to do more. I’ll de- You always mention your cide whether or not I’ll continue father as your mentor. He was to do it. I had no idea it would be also a real estate mogul. Do this successful, or last this long.