CAREER PATH
Donald Trump started his business career at his father’s company, the Elizabeth Trump and Son. He worked there for five years before given the full custody of the company, and thereafter, renaming it as The Trump Organization. Upon taking over the company, he moved his residence to Manhattan where he saw lots of opportunities. He initiated many large building projects in Manhattan where he earned high profits. He introduced attractive architectural designs to win public recognition.
Donald Trump started building his empire when he acquired the Pennsylvania Central Railroad which has entered bankruptcy. Trump obtained an option on one of the hotels there, The Commodore. Although it was unprofitable, it has an excellent and strategic location. To seize this opportunity, a partnership agreement with the Hyatt Hotel Corporation was signed and he completely renovated the building. He renamed the hotel as Grand Hyatt which has become a popular and successful hotel. Grand Hyatt is the first notable accomplishment of Donald Trump, earning him the city’s most well-known and controversial developer.
Donald Trump picked up an interest in profitable casino gambling business. He acquired a piece of land in Atlantic City. Next, he bought Holiday Inns and renamed it to Trump Plaza Hotel and Casino in 1986. Besides, he also purchased Hilton Casino Hotel in Atlantic City when it failed to obtain a gambling license and renamed it to Trump’s Castle. He soon acquired the largest hotel casino in the world, The Taj Mahal in Atlantic City.
However, things did not turn well for Donald Trump in 1990 when the real estate market declined. The value and income of Trump’s empire was reduced significantly from USD1.7 billion to only USD500 million. Poor business decisions also caused Trump unable to meet loan payments. The Trump Organization required a huge amount of borrowings to survive. This has brought Donald Trump on the brink of bankruptcy.
Despite his bankruptcy, Donald Trump did not give up. Donald Trump fought his way back to the riches and saw resurgence in his financial situation. He was worth USD2 billion in 1997. In 2001, he completed his biggest accomplishment, the Trump Tower. It is a 68 storey skyscraper in Manhattan, New York. The Trump Tower consists of luxurious shops and hotels. It also serves as the residence of Donald Trump himself. His remarkable comeback is an inspiration for all business entrepreneurs. He was even inducted in the Guinness Book of World Records for having the biggest financial turnaround in history.
One of his next biggest accomplishments happened in 2004 when he became the executive producer and host of the NBC reality series “The Apprentice” which became an instant hit. It is an American reality game show where 16 to 18 business people compete to earn a place in one of Donald Trump’s organization. The Apprentice was the breakout rookie hit of the 2004 television season where it has attracted over 20 million viewers. Each episode typically ends with Trump eliminating one contestant with the words “You are Fired!” which later became his catchphrase. His role in The Apprentice even earned him a Star on the Hollywood Walk of Fame.