Student Question
When did Donald Trump's successful period begin?
Quick answer:
Donald Trump's successful period began in the 1970s when he joined his father's real estate firm, the Trump Organization. He demonstrated business acumen by securing profitable deals, such as one in Cincinnati while still in college. He focused on Manhattan properties, acquiring sites like the Penn Central yards and the Commodore Hotel. Despite financial setbacks in the 1990s and 2009, Trump's adept use of media and branding has maintained his prominence and wealth.
Business magnate Donald Trump (born 1946) was the son of a wealthy New York City realtor, Fred Trump. Fred saw to it that his son attended the best private schools, sending him to the New York Military Academy where he won academic awards as well as letters in three sports. An Ivy Leaguer from the University of Pennsylvania, Donald joined his father's firm, the Trump Organization, after graduation. While still in college, Donald closed a deal in Cincinnati in which his father's company made $6 million in profit. Trump believed that Manhattan properties offered great new economic opportunities, and he began buying up sites in the 1970s such as the Penn Central yards and the Commodore Hotel, which became the Grand Hyatt. His Taj Mahal Casino and Trump Plaza Hotel nearly bankrupted him by 1992, and his personal and business debts reached $4.4 billion. Trump Entertainment Resorts went bankrupt in 2009, but Trump still maintains a personal worth of about $3 billion. His personal residence at the top of the Trump Tower is valued at $50 million--one of the most expensive apartments in New York City.
How did Donald Trump achieve success?
This is a good question. As you know Donald Trump is very successful. However, there is not one reason to describe his success. In light of this, let me give three reasons.
First, Donald Trump, like many other successful people, was born with good business skills. Therefore, there is innate talent that we need to appreciate. In other words, he has business gifts.
Second, Donald Trump has the benefit of a good education. He went to the University of Pennsylvania, where he was able to hone his business skills. If you did not know, Wharton is one of the best business schools in the world.
Third, he knows how to use the media. For some reason he is always in the limelight. Even recently, his shows on TV are number one and people love to watch him. He also knows how to brand his name and image. Donald Trump is synonymous to success.
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