Wednesday, August 31, 2016

US ELECTION Donald Trump: From mogul to presidential frontrunner

Donald Trump: From mogul to presidential frontrunner




Early life

Mr Trump is the fourth child of New York real estate tycoon Fred Trump. Despite the family's wealth, he was expected to work the lowest-tier jobs within his father's company and was sent off to a military academy at age 13 when he started misbehaving in school.
He attended the Wharton School at the University of Pennsylvania and became the favourite to succeed his father after his older brother, Fred, chose to become a pilot. Fred Trump died at 43 due to alcoholism, an incident that his brother saysled him to avoid alcohol and cigarettes his entire life.
Mr Trump says he got into real estate with a "small" $1 million loan from his father before joining the company. He helped manage his father's extensive portfolio of residential housing projects in the New York City boroughs, and took control of the company - which he renamed the Trump Organization - in 1971.
His father died in 1999. "My father was my inspiration," Mr Trump said at the time.

The mogul

Mr Trump shifted his family's business from residential units in Brooklyn and Queens to glitzy Manhattan projects, transforming the rundown Commodore Hotel into the Grand Hyatt and erecting the most famous Trump property, the 68-storey Trump Tower on Fifth Avenue. Other properties bearing the famous name followed - Trump Place, Trump World Tower, Trump International Hotel and Tower, and so on. There are Trump Towers in Mumbai, Istanbul and the Philippines.
Mr Trump also developed hotels and casinos, an arm of the business that has led to four bankruptcy filings (for the businesses, not personal bankruptcy).
Mr Trump also built an empire in the entertainment business. From 1996 until 2015, he was an owner in the Miss Universe, Miss USA, and Miss Teen USA beauty pageants. In 2003, he debuted an NBC reality television show called The Apprentice, in which contestants competed for a shot at a management job within Mr Trump's organisation. He hosted the show for 14 seasons, and claimed in a financial disclosure form that he was paid a total of $213 million by the networkduring the show's run.

He has written several books, and owns a line of merchandise that sells everything from neckties to bottled water. According to Forbes, his net worth is $4.5 billion, though Mr Trump has repeatedly insisted he is worth $10 billion.