NANO Posted February 8, 2019 Share Posted February 8, 2019 Donald Trump, in full Donald John Trump, (born June 14, 1946, New York, New York, U.S.), 45th president of the United States (2017– ). Trump was a real-estate developer and businessman who owned, managed, or licensed his name to several hotels, casinos, golf courses, resorts, and residential properties in the New York City area and around the world. From the 1980s Trump also lent his name to scores of retail ventures—including branded lines of clothing, cologne, food, and furniture—and to Trump University, which offered seminars in real-estate education from 2005 to 2010. In the early 21st century his private conglomerate, the Trump Organization, comprised some 500 companies involved in a wide range of businesses, including hotels and resorts, residential properties, merchandise, and entertainment and television. Early Life And Business Career: Trump was the fourth of five children of Frederick (Fred) Christ Trump, a successful real estate developer, and Mary MacLeod. Donald’s eldest sister, Maryanne Trump Barry, eventually served as a U.S. district court judge (1983–99) and later as a judge on the U.S. Court of Appeals for the Third Circuit until her retirement in 2011. His elder brother, Frederick, Jr. (Freddy), worked briefly for his father’s business before becoming an airline pilot in the 1960s. Freddy’s alcoholism led to his early death in 1981, at the age of 43. Beginning in the late 1920s, Fred Trump built hundreds of single-family houses and townhouses in the Queens and Brooklyn boroughs of New York City, and from the late 1940s he built thousands of apartment units, mostly in Brooklyn, using federal loan guarantees designed to stimulate the construction of affordable housing. During World War II he also built federally backed housing for naval personnel and shipyard workers in Virginia and Pennsylvania. In 1954 Fred was investigated by the Senate Banking Committee for allegedly abusing the loan-guarantee program by deliberately overestimating the costs of his construction projects to secure larger loans from commercial banks, enabling him to keep the difference between the loan amounts and his actual construction costs. In testimony before the Senate committee in 1954, Fred admitted that he had built the Beach Haven apartment complex in Brooklyn for $3.7 million less than the amount of his government-insured loan. Although he was not charged with any crime, he was thereafter unable to obtain federal loan guarantees. A decade later a New York state investigation found that Fred had used his profit on a state-insured construction loan to build a shopping centre that was entirely his own property. He eventually returned $1.2 million to the state but was thereafter unable to obtain state loan guarantees for residential projects in the Coney Island area of Brooklyn. Donald Trump attended New York Military Academy (1959–64), a private boarding school; Fordham University in the Bronx (1964–66); and the University of Pennsylvania’s Wharton School of Finance and Commerce (1966–68), where he graduated with a bachelor’s degree in economics. In 1968, during the Vietnam War, he secured a diagnosis of bone spurs, which qualified him for a medical exemption from the military draft (he had earlier received four draft deferments for education). Upon his graduation Trump began working full-time for his father’s business, helping to manage its holdings of rental housing, then estimated at between 10,000 and 22,000 units. In 1974 he became became president of a conglomeration of Trump-owned corporations and partnerships, which he later named the Trump Organization. In the 1980s Trump invested heavily in the casino business in Atlantic City, where his properties eventually included Harrah’s at Trump Plaza (1984, later renamed Trump Plaza), Trump’s Castle Casino Resort (1985), and the Trump Taj Mahal (1990), then the largest casino in the world. During that period Trump also purchased the New Jersey Generals, a team in the short-lived U.S. Football League; Mar-a-Lago, a 118-room mansion in Palm Beach, Florida, built in the 1920s by the cereal heiress Marjorie Merriweather Post; a 282-foot yacht, then the world’s second largest, which he named the Trump Princess; and an East Coast air-shuttle service, which he called Trump Shuttle. In 1977 Trump married Ivana Zelníčková Winklmayr, a Czech model, with whom he had three children—Donald, Jr., Ivanka, and Eric—before the couple divorced in 1992. Their married life, as well as Trump’s business affairs, were a staple of the tabloid press in New York City during the 1980s. Trump married the American actress Marla Maples after she gave birth to Trump’s fourth child, Tiffany, in 1993. Their marriage ended in divorce in 1999. In 2005 Trump married the Slovene model Melania Knauss, and their son, Barron, was born the following year. Melania Trump became first lady of the United States upon Trump’s inauguration as president in 2017. When the U.S. economy fell into recession in 1990, many of Trump’s businesses suffered, and he soon had trouble making payments on his approximately $5 billion debt, some $900 million of which he had personally guaranteed. Under a restructuring agreement with several banks, Trump was forced to surrender his airline, which was taken over by US Airways in 1992; to sell the Trump Princess; to take out second or third mortgages on nearly all of his properties and to reduce his ownership stakes in them; and to commit himself to living on a personal budget of $450,000 a year. Despite those measures, the Trump Taj Mahal declared bankruptcy in 1991, and two other casinos owned by Trump, as well as his Plaza Hotel in New York City, went bankrupt in 1992. Following those setbacks, most major banks refused to do any further business with him. Estimates of Trump’s net worth during this period ranged from $1.7 billion to minus $900 million. Trump’s fortunes rebounded with the stronger economy of the later 1990s and with the decision of the Frankfurt-based Deutsche Bank AG to establish a presence in the U.S. commercial real estate market. Deutsche Bank extended hundreds of millions of dollars in credit to Trump in the late 1990s and the 2000s for projects including Trump World Tower (2001) in New York and Trump International Hotel and Tower (2009) in Chicago. In the early 1990s Trump had floated a plan to his creditors to convert his Mar-a-Lago estate into a luxury housing development consisting of several smaller mansions, but local opposition led him instead to turn it into a private club, which was opened in 1995. In 1996 Trump partnered with the NBC television network to purchase the Miss Universe Organization, which produced the Miss Universe, Miss USA, and Miss Teen USA beauty pageants. Trump’s casino businesses continued to struggle, however: in 2004 his company Trump Hotels & Casino Resorts filed for bankruptcy after several of its properties accumulated unmanageable debt, and the same company, renamed Trump Entertainment Resorts, went bankrupt again in 2009. In addition to his real-estate ventures, in 2004 Trump premiered a reality television series, The Apprentice, which featured contestants competing in various challenges to become one of his employees. The Emmy-nominated show, in which Trump starred, po[CENSORED]rized the phrase “You’re fired!” and helped him to promote his reputation as a shrewd businessman. In 2008 the show was revamped as The Celebrity Apprentice, with newsmakers and entertainers as contestants. Trump marketed his name as a brand in numerous business ventures including Trump Financial, a mortgage company, and the Trump Entrepreneur Initiative (formerly Trump University), an online education company focusing on real-estate investment and entrepreneurialism. The latter company, which was dissolved in 2010, was the target of class-action lawsuits by former students and a separate action by the attorney general of New York, alleging fraud. After initially denying the allegations, Trump settled the lawsuits for $25 million in November 2016. Trump also coauthored a number of books on entrepreneurship and his business career, including Trump: The Art of the Deal (1987), Trump: The Art of the Comeback (1997), Why We Want You to Be Rich (2006), Trump 101: The Way to Success (2006), and Trump Never Give Up: How I Turned My Biggest Challenges into Success (2008). Style and rhetoric: Trump’s personal style was unusual, if not unique, among national political figures in modern U.S. history. In part reflecting his experiences as a prominent figure in the New York real estate industry, Trump was fiercely competitive as well as intensely concerned with demonstrating his success and accomplishments to others. Indeed, from the very beginning of his career, he cultivated and cherished his reputation as a shrewd businessman, an image that often aided him in his real estate dealings and which he eventually exploited as a brand beginning in the 1990s. That concern, however, was accompanied by an unusual sensitivity to criticism and a tendency to retaliate harshly against those who he believed had betrayed him or had treated him unfairly. His longtime mentor, friend, and legal adviser Roy Cohn (who had assisted Joseph McCarthy’s investigations of alleged communist subversion in the U.S. government in the 1950s) had encouraged him in the latter regard, counseling him on numerous occasions never to apologize (because it is a sign of weakness) and always to hit back harder than you are hit, as Trump put the lesson in The Art of the Deal. As he declared in a tweet in 2012, “When someone attacks me, I always attack back…except 100x more. This has nothing to do with a tirade but rather, a way of life!” In keeping with his bellicose and confrontational style, Trump in his business career characteristically used blunt language as a weapon against his rivals and adversaries, pointedly insulting or belittling them in the press in retaliation for their real or perceived slights. Perhaps surprisingly, Trump did not significantly alter his style or temper his rhetoric upon his entry into politics, notwithstanding the conventional view that success in politics is necessarily a matter of persuasion and compromise rather than “hitting back harder.” The advent of Twitter in 2006 eventually gave Trump (who joined the service in 2009) a larger platform for his unfiltered political comments, once he began regularly tweeting about politics in about 2011. During the presidential primaries and in the 2015–16 election campaign, Trump frequently used his Twitter account, which had more than 40 million followers, to angrily attack Democrats, his Republican rivals and critics, the news media, job-exporting corporations, and anyone else who had provoked his ire in comments that were widely perceived as aggressive, boastful, petty, and vulgar. Trump similarly declined to filter himself in speeches, once even mocking the disability of a reporter he disliked. Another unique feature of Trump’s rhetoric was the large number of his public statements that were shown to be false or misleading by the press or by independent fact-checking organizations. Although critics, including some in the Republican Party, occasionally admonished him for what they considered undignified behaviour, their condemnation only provoked him to fresh attacks. Despite some speculation after his election that the weight of the presidential office and his eventual need for tangible political and diplomatic successes would lead him to adopt a more conventional demeanour, his confrontational style and rhetoric continued unchanged through the first year of his presidency, and indeed the targets of his attacks only expanded—notably to include his perceived enemies in the FBI and the Justice Department and professional football (NFL) players who had protested police brutality by kneeling during the playing of the national anthem. In any event, Trump certainly distinguished himself from previous U.S. presidents by his heavy use of social media. He was the first president to rely on Twitter as a primary means of communication with his political supporters and the press, using it even as a venue for semi-official presidential statements. Beyond its novelty and perceived unseemliness, Trump’s rhetoric also raised serious concerns among members of both parties about its potential damage to Americans’ respect for democratic institutions, particularly freedom of the press and the rule of law. From early in his presidential campaign, Trump attacked unfavourable press reports about him as “fake news,” implying that the news organizations in question knowingly published falsehoods. After his election Trump frequently condemned most major news organizations as “the enemy of the American people,” a phrase reminiscent of totalitarian societies. The effect of his accusations was to engender among his supporters a distrust of and hostility toward major media outlets other than Fox News, which generally supported Trump in its reporting and which he regularly watched. Many political scientists and media scholars also pointed to more general problems, claiming that Trump’s efforts to portray the press as untrustworthy had created broad confusion and uncertainty among the electorate about what was true—or even a passive and resigned attitude about the possibility of finding out what was true. They also worried that Trump’s rhetoric would so diminish public confidence in the press that it would cease to serve effectively as a check on governmental power, the role that the founders of the country had envisioned for it. Analogous concerns were raised about Trump’s attacks on individual judges who had issued rulings he disliked and on FBI and Justice Department officials who had participated in the Russia investigation. Such rhetoric, it was alleged, encouraged a distorted perception of the judiciary and law-enforcement agencies as inherently biased. Some independent observers, however, regarded those criticisms as overblown, while Trump and his supporters dismissed them as motivated by political bias or by the resentment of Democrats at having lost the presidential election. Link to comment Share on other sites More sharing options...
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