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Trump: Dad’s ‘small loan’ of $1 million got him started

Donald Trump enjoys his reputation as a magnate whose own smarts and business savvy made him a billionaire, but he acknowledged Monday that his father helped him out—with a “small” million-dollar loan.

It has not been easy for me,” the Republican Party front-runner in the 2016 presidential nomination race told an NBC television-hosted town hall in New Hampshire.

I started off in Brooklyn. My father gave me a small loan of a million dollars,” he said, noting that he had to pay back his father, New York self-made millionaire real estate mogul Fred Trump, with interest.

But I came into Manhattan and I started buying properties, and I did great.
The comments raised eyebrows during a campaign season where conservative voters have all but rejected former Florida governor Jeb Bush, the son and brother of two former presidents, in favor of self-made political outsiders like Trump and retired pediatric neurosurgeon Ben Carson, who grew up poor.
Questioned about the remarks, Trump acknowledged that his circumstance might sound easy to the average voter.

You’re right, but $1 million isn’t very much compared to what I’ve built,” he told NBC.
I mean, I’ve built one of the great companies, but it’s always been, you know, you can’t do this, you can’t do that.
Trump pegs his own worth at an astounding $10 billion, but Forbes magazine has put it closer to $4.5 billion. Trump worked for a time for his father, who built thousands of residences in Brooklyn.

Donald Trump on the phone in his car after announcing plans for development of the west side of midtown Manhattan at the Hyatt Hotel on 42nd Street and Lexington Avenue, in New York, on Nov. 18, 1985. Photo Courtesy Time.com.

Donald Trump on the phone in his car after announcing plans for development of the west side of midtown Manhattan at the Hyatt Hotel on 42nd Street and Lexington Avenue, in New York, on Nov. 18, 1985. Photo Courtesy Time.com.

In the 1970s, he struck out on his own by constructing several buildings in Manhattan, many of which now bear the Trump name.

His business has gone global, and he has developed hotels, golf courses, resorts and luxury high-rise residence buildings around the world. [1]

 

Donald Trump: The Success Story of the most Powerful man

Donald John Trump was born on June 14, 1946, in Queens to Frederick Trump. He is the manufacturer and land engineer and his wife Mary MacLeod Trump whom he wedded in 1936. His mom, Mary Anne, was born on the west bank of Scotland, later moving to the US. His dad, Fred Trump, was the child of a Klondike Gold Rush restaurateur and home manufacturer.

 

Early Life & Education

At the point when Donald Trump was a child, his dad’s business endeavors were a steady nearness. However, it was Donald Trump’s mom who ingrained in him something that would recognize him from similarly effective land head honchos—a thankfulness for the energy of display. At six year of age, he looked as his mom was cleared away by the pomp of the crowning liturgy of Queen Elizabeth II. It made a major impact on the kid. His parents raised their big family up in a two-story ridicule Tudor home in Jamaica Estates, Queens. As a youngster, Donald Trump went to Kew-Forest School in Forest Hills, Queens, a non-public school at which Fred was on the Board of Trustees. At an early age, Donald Trump started getting into inconvenience.

Courtesy Instagram / Donald Trump.

Courtesy Instagram / Donald Trump.

In 1974 Donald Trump gained one of Pennsylvania Central’s most seasoned lodgings, The Commodore, which was not acquiring cash at the time but rather deliberately situated alongside Grand Central Station.The taking after year he marked an organization with Hyatt Hotel Corp. which did not have a nearness in the zone. He then totally redesigned the building and it effectively opened as the Grand Hyatt in 1980.

In any case, the building that would convey him to the consideration of the world still couldn’t seem to rise. A year prior in 1979 he had rented a site on Fifth Avenue. Which was to be the future site of Trump Tower. The 58-story building opened in 1982 and inspired guests with its six-story chamber fixed with pink marble and an 80-foot waterfall. [2]

 





Donald Trump’s Career

Donald Trump’s career began at his father’s company ‘Elizabeth Trump and Son’, which was a company based in Brooklyn that focused on rental housing for the average Joe.

Donald Trump with New York City Economic Administrator Alfred Eisenpreis, looking over a sketch of the renovated Commodore Hotel (which would become the Hyatt). Photo Courtesy NY Daily News Archive / Getty Images.

Donald Trump with New York City Economic Administrator Alfred Eisenpreis, looking over a sketch of the renovated Commodore Hotel (which would become the Hyatt). Photo Courtesy NY Daily News Archive / Getty Images.

Whilst Trump was in college he undertook a project that involved refurbishing a property his dad had purchased. The property was an apartment complex in Cincinnati that after putting a $500,000 investment into the property, Trump was able to sell it for $6.75 million.

This was just over $1 million more than his dad had purchased it for back in 1962. [3]

 

The Trump Organization

What was ‘Elizabeth Trump and Son’, Donald Trump’s father’s company, was renamed to The Trump Organization in 1971 by Trump when he was given control of the company. This was only 3 years after he joined full time.

What started off as a company revolving around middle class real estate, has now turned into a huge conglomerate, owning some of the best buildings in the world including The Trump World Tower, raking in hundreds of millions of profit.

The Trump organization owns skyscrapers, hotels, golf courses, vineyards and many other great real estate properties. They currently now have 22,500 employees.

 

Donald Trump Success Tips

Trump’s advice is great and well worth taking into account since the man’s worth $4 billion! Here are 7 success tips from Donald Trump that I picked up from an article I read on Dumb Little Man. Check out the full article to learn more about Trump’s solid advice.

1. Focus on the present

Focus on the making the present moment the best it can be, and you’ll never regret it. Forget about the past, and don’t think too far ahead into the future. Focus on the now.

2. Fail forward

Learn from your failures and progression is inevitable. Don’t think of them as a sign to give up on your dreams. Think of them as a chance to learn from your mistakes and use that to your advantage next time around.

Image Quote Courtesy Gecko&Fly.

Image Quote Courtesy Gecko&Fly.

3. Think big

If you’re going to be thinking anything, think big. Don’t limit yourself. You have the potential to build whatever you desire, so think big.

4. Do what you love

You have to do what you love, otherwise you are wasting your time. Doing a job that you hate, purely because of income, leads to a lot of regret. If you always do what you love, you’ll never be disappointed with your life.

5. Stay positive

Success is a struggle, and if you’re not struggling I’m shocked. So stay positive, believe in yourself and remember that anything is possible.

6. Passion is power

Just like doing what you love, having a passion for something gives you a huge edge simply because you’re enthusiastic to learn. This makes putting in the effort for success so much more bearable.

7. Experience is priceless

There’s nothing better than experience, even if it end in failure the first time. Every time you experience something you learn from it, you gain something from it every single time.

 

Favorite Donald Trump Quotes

“Money was never a big motivation for me, except as a way to keep score. The real excitement is playing the game.” – Donald Trump

“If you’re interested in ‘balancing’ work and pleasure, stop trying to balance them. Instead make your work more pleasurable.” – Donald Trump

“I like thinking big. If you’re going to be thinking anything, you might as well think big.” – Donald Trump

“In the end, you’re measured not by how much you undertake but by what you finally accomplish.” – Donald Trump [4]

 

This Article Curated by Benang Merah Komunikasi’s Editorial team.

We consider to take journalism ethics and contents reposting etiquette seriously, that you can find here about media ethics. We do curation article for our audiences, not for search engine bots. By addressing this growing area of concern we hope reader can be smart to filter and understand between content plagiarism and content curation method.

References Sources:

[1] Taken from Trump: Dad’s ‘small loan’ of $1 million got him started written by AFP for Daily Mail.

[2] Taken from Donald Trump: The Success Story of the most Powerful man written by Arpan Tiwari for CrazyUniversal.

[3] Taken from Business career of Donald Trump written by Wikipedia.

[4] Taken from Donald Trump Net Worth written by Dan Western for Wealthy Gorilla.

 

Franciscus Zheng

Author Franciscus Zheng

Founder, CEO, and act a lead Creative Director of Benang Merah Komunikasi itself. A Producer and also an artist. A friend and a creative entrepreneur, when in his very young age has spurred enthusiasm to grow become an originator of fresh ideas. Board of director of this company was a melancholic person.

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