Donald Trump

A detailed Summary of Donald Trump

The Start-up Financing of What Became Real Estate Empire

Donald Trump's road to fortune began the old fashion way-he inherited it. Unlike the million dollar overnight IPO successes of innovative mega moguls entrepreneurs in the current dot com era, The Donald's roots had been firmly planted both fiscally and by practice in Real Estate by the generations before him..

The patriarchy of the development dynasty was Donald's Grandfather, Fred Trump Sr. One of many German immigrate to arrive at Ellis Island in the late 1800's, Fred Sr. quickly realize the true value of real estate investing in New York .At the time of his death the senior Trump had amassed six property parcel in New York, a large life insurance policy, and held 14 mortgages. In addition it is reported that owned the rights to 50 shares of preferred stock, several outstanding loans and a number of other buildable lots. "...The total value of Trump's Estate exceeded 36,000, a small fortune at the time"(Barrett 35). This amount would serve as the stepping-stone to the family's trade in real estate.

If Fred Sr. was the spark that started the of the Trump real estate empire, then his son , also

After his first Penn Central deal, New York City was his for the taking. His most notable prize in New York was the construction of Trump Tower on Fifth Avenue He also become obsessed with using government funds for his building endeavors. From his elaborate plans for New York's largest convention center to his schemeful tax free deal involving the renovation of the Commodore Hotel, Trump was becoming a master a working the Big Apple.

In the end Donald learned a lot from his Father. Self-preservation and determination were traits of his father that he would lose. He learned the art of raising capital through political/governmental sources and creating public support. He saw the how to manipulate partnership relationships as needed, and even the habit of using hyperbole whenever advantageous. Yet Donald's drive and ego would permit him to be just a student for long, he wanted to create his mark.

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While possessing carpentry and construction skills, Fred Jr. never had any formal training or experience in the world of real estate dealings. In fact prior to being forced into running local grocery store during the great depression, Fred only had ever built three houses. His rawness in the field however didn't slow him at taking his first major jab at the field of high price acquisition negotiation. At the tender age of 29, Fred Jr. submitted a proposal for the buying out of bankruptcy of the legendary mortgage company called Lehrenkrauss. Hating working for someone else, Fred saw this as an opportunity to get back to the independence he once had being self employed.

Lehrenkrauss was a mortgage powerhouse to new German Americans, however the company soon cru

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Approximate Word count = 1177
Approximate Pages = 5 (250 words per page double spaced)

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