Born in Queens, New York, in 1946, Donald Trump is the 45th and current President of the United States; he took office on January 20, 2017. Previously, he was a real estate mogul and a former reality TV star.
Trump’s Real Estate and Businesses:
Trump followed his father into a career in real estate development, bringing his grander ambitions to the family business. Trump’s business ventures include The Trump Organization, Trump Tower, casinos in Atlantic City and television franchises like The Apprentice and Miss Universe. Trump has business deals with the Javits Center and the Grand Hyatt New York, as well as other real estate ventures in New York City, Florida and Los Angeles.
Federal income disclosure forms Trump filed in 2017 list Trump’s golf courses, including Trump National Doral and Mar-a-Lago in Florida, as earning about half of his income. Other financial ventures include aircraft, merchandise and royalties from his two books, The Art of the Deal and Crippled America: How to Make America Great Again.
The Art of the Deal:
In 1987, Trump published the book The Art of the Deal, co-authored with Tony Schwartz. In the book, Trump describes how he successfully makes business deals.
“I DON’T do it for the money. I’ve got enough, much more than I’ll ever need. I do it to do it. Deals are my art form,” Trump wrote.
The book made the New York Times best-seller list, although the number of copies sold has been debated; sales have been estimated at between 1 to 4 million copies to-date. Schwartz later became an outspoken critic of the book and of Trump, saying he felt remorseful for helping make the president “more appealing than he is.”
Donald Trump’s Wealth:
In 1990, Trump asserted his own net worth in the neighborhood of $1.5 billion. At the time, the real estate market was in decline, reducing the value of and income from Trump’s empire. The Trump Organization required a massive infusion of loans to keep it from collapsing, a situation which raised questions as to whether the corporation could survive bankruptcy. Some observers saw Trump’s decline as symbolic of many of the business, economic and social excesses that had arisen in the 1980s.
However, Trump’s net worth have been a subject of public debate over the past years. Because Trump has not publicly released his tax returns, it’s not possible to definitively determine his wealth in the past or today. However Trump valued his businesses at at least $1.37 billion on his 2017 federal financial disclosure form, published by the Office of Government Ethics. Trump’s 2018 disclosure form put his revenue for the year at a minimum of $434 million from all sources.
A May 2019 investigation by The New York Times of 10 years of Trump’s tax information found that between 1985 and 1994, his businesses lost money every year. The newspaper calculated that Trump’s businesses suffered $1.17 billion in losses over the decade.
Trump later defended himself on Twitter, calling the Times’s report “a highly inaccurate Fake News hit job!” He tweeted that he reported “losses for tax purposes,” and that doing so was a “sport” among real estate developers.
Donald Trump – The dream run to be the President of the United States:
Trump is currently registered as a Republican. He has switched parties several times in the past three decades.
In 1987, Trump registered as a Republican; two years later, in 1989, he registered as an Independent. In 2000, Trump ran for president for the first time on the Reform platform. In 2001, he registered as a Democrat.
By 2009, Trump had switched back to the Republican party, although he registered as an Independent in 2011 to allow for a potential run in the following year’s presidential election. He finally returned to the Republican party to endorse Mitt Romney’s 2012 presidential run and has remained a Republican since.
Trump’s 2016 Presidential Campaign vs. Hillary Clinton:
Trump became the official Republican nominee for president in the 2016 presidential election against Democrat Hillary Clinton. Defying polls and media projections, he won the majority of electoral college votes in a stunning victory on November 8, 2016. Despite losing the popular vote to Hillary Clinton by almost 2.9 million votes, Trump’s electoral win — 306 electoral college votes to Clinton’s 232 — clinched his victory as the 45th president of the United States.
After one of the most contentious presidential races in U.S. history, Trump’s rise to the office of president was considered a resounding rejection of establishment politics by blue-collar and working-class Americans.
Donald Trump’s Victory Speech:
On January 20, 2017, Trump was sworn in as the 45th president of the United States by Chief Justice of the United States John Roberts. Trump took the oath of office placing his hand on the Bible that was used at Abraham Lincoln’s inauguration and his own family Bible, which was presented to him by his mother in 1955 when he graduated from Sunday school at his family’s Presbyterian church.