Donald Trump – The Man Behind the Trump Organization
Born on June 14, 1946 in Queens, New York, Donald John Trump is a business magnate, author, TV personality, and socialite. He is the man behind an American owned real state developer company Trump Organization, where he works as the Chairman and CEO. He also founded Trump Entertainment Resorts, a Company that operates several hotel and casinos around the world. He is a celebrity as well, hosting his own reality TV show – The Apprentice.
Trump was the fourth child among the brood of five of a rich NY real estate developer Fred Trump. His interest in real state industry is clearly influenced by his father. In 1968, after completing his degree in Bachelor of Science in Economics with concentration in Finance from Wharton School of the University of Pennsylvania, he joined his father’s company, the Trump Organization.
He started his career in the Company by renovating the Commodore Hotel and turning it into the Grand Hyatt. He created the Trump Tower in NY and expanded his business by acquiring Eastern Shuttle routes and Atlantic City casinos. However, his attempt to expand his empire and extravagant lifestyle led to increasing debt and eventually bankruptcy in 1991.
After several years, Trump regained his fortune. In May 2005, his Trump Hotels & Casino Resorts re-emerged from bankruptcy and became Trump Entertainment Resorts Holdings. However, his Company was severely affected by the 2008 financial crisis. He failed to settle his loan amounting to $40 million and on February 17, 2009, his Company filed for Chapter 11 Bankruptcy.
