Donald Trump: Smart, Tough and Unstoppable
by Steve Osborne
Many celebrities become real estate investors, but few real estate investors become celebrities. Donald Trump is the most celebrated exception.
Anyone who has read newspapers and gossip columns or watched the news in the past few decades knows about Trump. It’s all a matter of public (very public) record: his billionaire lifestyle, his real estate mega-deals, his brush with bankruptcy, his remarkable comeback, his supermodel marriages, his books, his blockbuster show, The Apprentice ... and the list goes on.
Presidents and superstars come and go, but “The Donald” sticks around with the tenacity of a granite boulder.
However, while everyone seems to know about Trump, very few claim to really know him. The few who do explain that despite his obvious obsession with maintaining a high profile in the public eye – always a good business strategy, of course – he is actually a very private person.
This could explain some apparent inconsistencies. For example, the Trump of the gossip rags appears to be anything but a family man. And yet his children claim to be close to him and reportedly show the signs of having a caring, involved father figure in their lives. The Trump of The Apprentice jabs his fingers and says, “You’re fired!” without blinking an eyelid. Yet as the head of a huge business conglomerate, he rarely fires anyone, and in fact claims that someone almost has to steal from him to hear those words. The Trump of the magazines, a man who is chauffeured around in luxurious cars, a private jet and a helicopter, seems removed from the real world where people struggle to pay their mortgages. And yet, stories circulate that indicate otherwise.
One goes like this: Trump was returning from Atlantic City one night when his limousine broke down. An out-of-work mechanic stopped and fixed it. Trump wanted to pay him for his help, but he wouldn’t take it. The next day the mechanic’s wife received flowers. Accompanying the flowers was a certified letter stating that their mortgage had been paid in full.
With his drive, ambition, toughness and street-smarts, Donald Trump has everything it takes to be the central character of a classic rags-to-riches saga – except for the fact that he was never poor.
His
father, Fred Trump, was an eminently successful
Donald
was born into this financially advantaged family on June 14, 1946. He
attended a military academy as a young teenager and briefly entertained
the idea of attending film school. But in the end he decided that real
estate was a much better business. He attended Fordham University
for a few years, then transferred to the prestigious
Trump had the advantages of an excellent education, but characteristically took full advantage of them and was a serious student. School, however, was always a means to an end for him. He knew he needed the skills and knowledge to make a splash in the business world, and realized education would give him these important advantages.
After
college, Trump went to work for his father in
Trump
considers his father to be his most valuable mentor. “He
told me to ‘know everything you can about what you’re doing,' for one
thing,” recalls Trump. “He was very thorough and that’s something I
learned from him firsthand. It has served me well in every area of my
life. He was also a disciplined person and set a great example for me.”
Trump was not the only one who benefited from working with his father. The family business became even more successful, thanks to his efforts. Fred was quick to see his son’s potential and praised his performance. “Some of my best deals were made by Donald,” he later said of Donald’s accomplishments. “Everything he touches turns to gold.”
Trump Everything
After
five years working at his father’s side, Trump went out on his own. In
selecting his target, he aimed high: Manhattan. He hit the ground running and quickly became “the name” in
New York
real estate development – a name that became synonymous with the most
prestigious addresses. Those addresses include the renowned
Trump opened The Trump International Hotel & Tower to the world in 1997. Strategically located on Central Park West at Columbus Circle on Manhattan’s West Side, the 52-story super-luxury hotel and residential building has garnered the highest residential and hotel sales and rental prices in the world, according to Trump’s organization.
The
property Trump converted into the
Never
one to be confined to even the largest arena, Trump has expanded his
business activities well beyond residential and office developments in
Trump
has serious interests even beyond the
Trump’s
real estate empire expanded not just geographically, but also in terms of
property types. His well-known name is seen on three hotel-casinos in Atlantic City
,
Everything
Trump does is high-end. For example, he is currently developing what he
describes as “world-class luxury homes” in developments where the
price tag on a home will be somewhere in the neighborhood of $20 million
– definitely a pricey neighborhood.
Speaking
of high-end, one of Trump’s personal favorite developments is the
private, ultra-luxurious Mar-a-Lago Club in
If
all of this sounds larger-than-life, it is. No one in the business world
deserves super-hero status more than Donald Trump.
The
“Trump Factor”
It
is difficult to miss the fact that the Trump name is splashed on almost
every one of the real estate billionaire’s properties. Does this point
to an over-sized ego? Certainly, Trump has an ego. But putting the Trump
name on anything these days is simply a smart business move. It has been
called the “Trump Factor” and it goes like this: any property that
carries the Trump name can expect a 15 percent to 50 percent rent premium.
In his own inimitable style, Trump has trumped the Trump factor to successfully invade more than just the real estate sector. He is the star and producer of NBC’s hit reality show, The Apprentice, which quickly became one of the most success television series of recent years. ABC made a movie about Trump, which aired in 2005. Trump has appeared in numerous commercials. He is the owner of the Miss Universe Pageant and has been involved in other pageants and numerous popular television series. He has written several successful books, including Trump: The Art of the Deal (1988), Trump: Surviving at the Top (1990), Trump: The Art of the Comeback (1997) and Trump: How to Get Rich (2004). Like his properties, his books flaunt the Trump name.
A
philanthropist, Trump sits on numerous non-profit boards and councils. He
has also become an educator, launching Donald
Inevitably,
a human earthquake like Trump is going to flirt with politics. Trump’s
flirtation – which has been limited so far to talk of running for the United States
presidency – was short-lived. He quickly decided against it, claiming
that he was having too much fun doing what he was doing. Besides,
Trump is too outspoken to make a good politician. When New York
officials unveiled
their proposal for rebuilding the
It
would seem that “The Donald” is continuously reinventing himself.
However, he denies doing it intentionally. “It
wasn’t necessarily a strategy,” he claims. “My interests just
evolved. I love playing golf, so becoming a golf course developer was a
natural direction to take as a developer. The Apprentice came as a
surprise, although I had been interested in the entertainment industry as
a possible career prior to my commitment to real estate. I have a lot of
interests and I’m fortunate to be able to pursue them. My biggest advice
to others about strategy is that it is important to do what you love
doing, or your chances of success won’t be as great. You have to have
passion about your choices.”
Overcoming “Blips”
For Trump, serious business problems do not rise to the level of disasters. He thinks of them as “blips” that will come and go. This attitude has helped him overcome challenges that would have destroyed many financial empires.
In
the early 1990s, for instance, Trump found himself on the brink of ruin.
With
Trump
proved everyone wrong. By 2000 he had fought his way back into billionaire
status. His comeback has become the stuff of business legend. He is now
worth more than $5 billion, according to his own accounting, which is
about double what Forbes magazine says he’s worth. Even if
Forbes’ figures are right, that’s a lot of money.
No
business person – even a multibillionaire – is insulated from
challenges, however. Even
now, riding one wave of success after another, Trump faces problems. For
example, although he is one of the largest casino operators in the world,
his casinos are deeply in debt and reported to be barely breaking even.
The way he deals with this blip will become another chapter in the
textbook of real-world, in-the-trenches business strategy he is writing
with his life’s actions.
The
Private Side
Trump’s private life has been as newsworthy as his business life. His affinity to supermodels and his marriages to three of them (Ivana Zelnicek, Marla Maples and most recently, Melania Knauss) have supplied material for stacks of gossip columns. His four children, two of whom work with him in The Trump Organization (Don Jr. and Ivanka), have had their share of publicity, too – particularly the stunning Ivanka, who began modeling at the age of 14 to earn money while in school and has since achieved international prominence.
Trump
has always surrounded himself with the trappings of wealth. This has added
to his mystique. From the gold-encrusted door to his
Yet there is definitely a vulnerable, human side to this mega-tycoon. Case in point: his notorious “comb-over” hairstyle, which bespeaks a self-image that is not quite iron-clad. A writer for a large national magazine recently reported that Trump swooped up his bangs for him and proved that “every weirdly combed follicle you see is his.” Trump never said his hair was his greatest asset, but he denies that it’s terrible.
Trump is a self-proclaimed germ-o-phobe. He hates to shake hands, claiming that the custom is barbaric and spreads germs. He doesn’t work out, even though he still weighs close to what he did in his 30s. He chooses to take his exercise in the form of tennis and golf. (His handicap is in the two to three range.)
Ultimately, what best defines Donald Trump, the person, is also perhaps the greatest reason for his success in business. It is his unshakable belief in himself and his future – a belief that has made him unstoppable. His achievements have been monumental. But even with those behind him, he believes his most important feats lie ahead.
“I’m
still moving forward and looking forward to more achievements,” he
states. “I have always tried to do my best and I will continue with that
daily goal.”
CREL:
How do you manage to stay on top of all the many things you do? Is it a
question of delegating, or do you simply have more energy than most?
TRUMP:
I’m used to working at a fast pace, I don’t require a lot of sleep,
and I have good people working with me. I also keep long office hours, up
to 12 hours a day, which I enjoy since I love what I’m doing.
CREL:
Do you have a support team? How important are they to your success?
TRUMP:
I have a good support team, plus I also have my eldest son Don Jr, and my
eldest daughter, Ivanka, onboard now at The Trump Organization. The
members of my organization are not only team players, but able to work
intelligently on their own. This ability to do both well is emphasized on The
Apprentice – I need people who can work well with others but who are
also independently responsible.
CREL:
Do you have a typical daily routine in terms of getting up, exercising,
eating, work, etc.?
TRUMP:
I’m an early riser, around
CREL:
Do you have any particular mental, intellectual, spiritual or emotional
practices that have helped you achieve success?
TRUMP:
I’m a positive thinker, a cautious positive thinker. I think it’s
important to see the negatives but to concentrate on the positives and
move forward with them. In other words, look at the solution, not the
problem. I’m also good at focusing on what is important in my daily
schedule while remaining open to new ideas.
CREL:
What material possessions have made your life more productive or
enjoyable?
TRUMP:
Having a helicopter and a private jet makes my life a lot easier, as I
travel a lot. Having a car and driver helps a lot, too.
CREL:
What are your favorite pastimes or hobbies?
TRUMP:
I like golfing and I like spending time with my wife, Melania.
CREL:
If you could get away completely from all your obligations and spend a
month anywhere, doing anything, where and what would you do?
TRUMP:
I would spend it at my Mar-a-Lago Club in Palm Beach
,
CREL:
How do you deal with setbacks and failures?
TRUMP:
I try to view things as blips, and not catastrophes. I ask myself, is it a
war? Is it an earthquake? That way we can maintain our perspective. It’s
important to learn to be circumspect, and to be grateful for what is
positive in our lives.
CREL:
Which of your many successes are you most proud? Why?
TRUMP:
I am very proud of
CREL:
What does the future hold for Donald Trump?
TRUMP:
Building more beautiful buildings, for one thing, and we’re looking
forward to more seasons of The Apprentice.
CREL:
What do you predict for the overall economy in the coming years?
TRUMP:
I’m hoping for stability and economic growth overall.
CREL:
What do you predict for real estate investing and development in the
coming years?
TRUMP: Real estate has its ups and downs, but fortunes have been made. I would say it’s a solid investment, but there are always natural disasters and wars to consider.
CREL:
Where and on what should smart real estate investors be focusing today and
in the coming years?
TRUMP:
Growth is an indication of life, and certain areas are growing, such as
CREL:
What is the greatest obstacle to real estate investing success today?
TRUMP:
Not being thorough enough in your research. You have to know what you are
doing, and what’s going on in your community, your country, and in the
world. That’s a big assignment, but absolutely necessary. You have to
have the big picture.
CREL:
What advice would you give other real estate investors?
TRUMP: It’s important to combine your research with your instincts. Your instincts will develop over the years. That’s why I emphasize the importance of knowing everything you can. But your instincts are there for a reason, too. Tend to them.
(Copyright 2006 by OsborneWriter.com. All rights reserved.)
