Business career of Donald Trump

Before running for office in 2015, 45th and 47th president Donald Trump pursued a career as a businessman, with a focus on renovating skyscrapers, hotels, casinos, and golf courses.

His extravagant lifestyle, outspoken manner, and role on the NBC reality show The Apprentice have made him a well-known public figure in American life for nearly half a century.

Trump entered various businesses that did not require capital funding, including licensing his name to lodging and golf course enterprises around the world.

[8][9] In that year, at the age of 25, he also moved to Manhattan, where he took part in larger construction projects and used glitzy architectural design to foster media attention.

According to journalist Wayne Barrett, Fred's two-decade friendship with a top Equitable officer, Ben Holloway, helped convince them to agree to the project.

[44] An organization of celebrities called Westpride, consisting of such individuals as Jerry Seinfeld, Christopher Reeve, and others, was formed and fundraised in opposition to the proposal.

"[44][51] The Taj Mahal emerged from bankruptcy on October 5, 1991, with Trump ceding 50% ownership in the casino to the bondholders in exchange for lowered interest rates and more time to pay off the debt.

[66] Trump raised the controversial sunken plaza where few pedestrians had ventured, which had been criticized by Huxtable[clarification needed], and installed his name in four-foot gold letters.

[77] Trump also licensed his name to son-in-law Jared Kushner's 50-story Trump Bay Street, a Jersey City luxury development that has raised $50 million of its $200 million capitalization largely from wealthy Chinese nationals who, after making an initial down payment of $500,000 in concert with the government's expedited EB-5 visa program, can usually obtain United States permanent residency for themselves and their families after two years.

A 2017 document filed in New York City erroneously listed the Bank of China as a current creditor due to a mistake by loan servicer organization Wells Fargo.

[82] Trump's personal financial disclosure with the Federal Election Commission stated that his golf and resort revenue for the year 2015 was roughly $382 million.

[83][84] In 2006, Trump bought the Menie Estate in Balmedie, Aberdeenshire, Scotland, creating a golf resort against the wishes of local residents[85] on an area designated as a Site of Special Scientific Interest.

[88] In December 2015, Trump's appeal objecting to an offshore windfarm (Aberdeen Bay Wind Farm) within sight of the golf links was denied.

[90] In June 2019, Scottish Natural Heritage ruled that the golf course had "destroyed" the sand dune system, causing permanent habitat loss, and recommended that the SSSI status be revoked.

[92] In April 2014, Trump purchased the Turnberry hotel and golf resort in Ayrshire, Scotland, which was a regular fixture in the Open Championship rota.

[97] Trump had expressed an interest in purchasing the Cleveland Indians for $13 million in a February 15, 1983 letter sent by Kenneth Molloy to team president Gabe Paul.

The name was suggested by his business partner, basketball commentator Billy Packer, who originally planned to call the race the Tour de Jersey.

The second stage began in New York City, and Mayor Ed Koch, who had denounced Trump as "one of the great hucksters", boycotted the event.

Going into the last stage, Belgian rider Eric Vanderaerden was favored to win the tour championship, but lost at least 1 minute 20 seconds when he took a wrong turn on a poorly marked course in Atlantic City, riding a quarter-mile or more out of his way.

He ended up finishing third overall, behind tour winner Dag-Otto Lauritzen (a Norwegian rider with the American-owned 7-Eleven team) and runner-up Henk Lubberding, who also took a wrong turn during the last stage.

[106][107] Trump submitted a stalking-horse bid on the Buffalo Bills when it came up for sale following Ralph Wilson's death in 2014; he was ultimately outbid, as he expected, and Kim and Terrence Pegula won the auction.

I think that's fine",[130] while suggesting that the judge's ethnicity posed a conflict of interest in light of Trump's proposal to build a wall on the United States–Mexican border.

[131][132][133] Many legal experts were critical of Trump's attacks on Curiel, often viewing them as racially charged, unfounded, and an affront to the concept of an independent judiciary.

[134][135][136] On June 7, 2016, Trump issued a lengthy statement saying that his criticism of the judge had been "misconstrued" and that his concerns about Curiel's impartiality were not based upon ethnicity alone, but also upon rulings in the case.

[162] A 2018 suit by the New York State attorney general alleged that Trump had illegally used foundation funds to buy self-portraits, pay off his businesses' legal obligations, and boost his presidential campaign.

In June 2015, Forbes pegged the Trump brand at $125 million[186] as retailers like Macy's Inc. and Serta Mattresses began dropping Trump-branded products.

[190] Bookings and foot traffic at Trump-branded hotels and casinos fell off sharply in 2016, primarily driven by a decrease in visits to the properties by women.

[197][198] The investment portfolio generates income and cash flow from a variety of mechanisms as dividends, capital gains, and compounded carried interest.

[203] Public stock investments within his portfolio include General Electric, Chevron, UPS, Coca-Cola, Home Depot, Comcast, Sanofi, Ford, ConocoPhillips, Energy Transfer Partners, Altera, Verizon Communications, Procter & Gamble, Bank of America, Nike, Google, Apple Inc., Philip Morris, Citigroup, Morgan Stanley, Whole Foods, Intel, IBM, Bristol-Myers Squibb, Johnson & Johnson, Caterpillar, Kinder Morgan, AT&T and Facebook.

[218][219] According to a July 2015 press release from his campaign manager, Trump's "income" for the year 2014 was $362 million ("which does not include dividends, interest, capital gains, rents and royalties").