Donald Trump

Donald John Trump (born June 14, 1946) is the [45th] and current [President of the United States], in office since January 20, 2017. Before entering politics, he was a businessman and television personality.

Trump was born and raised in the [New York City] borough of [Queens], and earned an economics degree from the [Wharton School of the University of Pennsylvania]. He took over his family's real estate business in 1971, renamed it [The Trump Organization], and expanded it to involve the construction and renovation of skyscrapers, hotels, casinos, and golf courses. Trump also started various side ventures, including branding and licensing his name for real estate and luxury consumer products. He managed the company until [his 2017 inauguration]. Trump also gained prominence in media and entertainment. He co-authored [several books], including The Art of the Deal, and from 2003 to 2015 he was a producer and the host of The Apprentice, a reality television game show. Trump owned the [Miss Universe] and [Miss USA] beauty pageants from 1996 to 2015. According to March 2018 figures by Forbes, he is the world's 766th richest person, with an estimated net worth of $3.1 billion.

Trump entered the [2016 presidential race] as a [Republican] and defeated sixteen opponents in the [primaries]. Commentators described [his political positions] as [populist], [protectionist], and [nationalist]. His campaign received extensive free media coverage; many of his public statements were controversial or false. Trump was elected president against [Democratic] nominee [Hillary Clinton]; his victory upset the expectations of polls and analysts. He became [the oldest] and [wealthiest] person ever to assume the presidency, the first without [prior military or government service], and [the fifth] to have won the election despite losing the popular vote. His election and policies sparked [numerous protests].

In domestic policy, Trump appointed [Neil Gorsuch] to the [Supreme Court]. Citing security concerns, he ordered [a travel ban] on citizens from several Muslim-majority countries; [a revised version] of the ban was implemented after [legal challenges]. In December 2017, he signed [tax reform legislation] that cut rates and eliminated the [Affordable Care Act] insurance mandate. In foreign policy, Trump withdrew the United States from the [Trans-Pacific Partnership] trade pact and the [Paris Agreement] on climate change, partially reversed the [Cuban thaw], pressured North Korea over the acceleration of [their missile tests] and [nuclear weapons program], and [recognized Jerusalem as the capital of Israel].

After Trump [dismissed] FBI Director [James Comey] in 2017, the [Justice Department] appointed [Robert Mueller] as [special counsel] in an [investigation] into coordination or [links] between the [Trump campaign] and [Russian government] in connection with [Russian interference in the 2016 elections] and related matters.

Family and personal life

Ancestry and parents

Trump's ancestors originated from the German village of [Kallstadt] in the [Palatinate] on his father's side, and from the [Outer Hebrides] in Scotland on his mother's side. All of his grandparents and his mother were born in [Europe].[1]

Trump's paternal grandfather, [Friedrich Trump], first emigrated to the United States in 1885 at the age of 16 and became a citizen in 1892. He amassed a fortune operating boom-town restaurants and boarding houses in the Seattle area and the [Klondike] region of Canada during [its gold rush].[2] On a visit to Kallstadt, he met [Elisabeth Christ] and married her in 1902. The couple permanently settled in New York in 1905.[3] Frederick died from influenza during the [1918 pandemic].[4]

Trump's father [Fred] was born in 1905 in [The Bronx]. Fred started working with his mother in real estate when he was 15, shortly after his father's death. Their company, Elizabeth Trump & Son, was primarily active in the [New York boroughs] of [Queens] and [Brooklyn]. Fred eventually built and sold thousands of houses, barracks, and apartments.[4][5] The company was later renamed [The Trump Organization], after Donald Trump took charge in 1971.[6]

Trump's mother [Mary Anne] was born in [Tong, Lewis], Scotland. At age 18 in 1930, she emigrated to New York, where she worked as a maid.[7] Fred and Mary were married in 1936 and raised their family in Queens.[7][8]

Trump's uncle [John] was an electrical engineer, physicist, and inventor. He worked as a professor at [MIT] from 1936 to 1973. During World War II, he was involved in radar research for the Allies and helped design X-ray machines that were used to treat cancer.[9]

Early life and education

Donald John Trump was born on June 14, 1946, at the Jamaica Hospital Medical Center, Queens, New York City, the fourth of five children.[12] Trump grew up in [Jamaica, Queens], and attended the [Kew-Forest School] from kindergarten through seventh grade. At age 13, he enrolled in the [New York Military Academy], a private boarding school, after his parents discovered that he had made frequent trips into Manhattan without their permission.[13][14]

In 1964, Trump began his higher education at [Fordham University].[10][15] After two years, he transferred to the [Wharton School] of the University of Pennsylvania, because it offered one of the few real-estate studies departments in United States academia at the time.[15][16] Trump was inspired by his father and Manhattan developer [William Zeckendorf], vowing to be "even bigger and better".[17] While at Wharton, he worked at the family business, Elizabeth Trump & Son,[18] and graduated in May 1968 with a Bachelor of Science in economics.[15][19][20]

Trump did not serve in the military during the Vietnam War.[21] While in college from 1964 to 1968, he obtained four student deferments.[22] In 1966, he was deemed fit for service based upon a military medical examination, and in 1968 was briefly classified as eligible to serve by a local draft board. In September of that year, he was given a medical deferment, which he later attributed to [heel spurs].[23] In 1969, he received a high number in the [draft lottery], which gave him a low probability to be called to military service.[23][24][25]

Family

Trump grew up with three elder siblings—[Maryanne], Fred Jr., and Elizabeth—as well as a younger brother named Robert. Maryanne is an inactive [Federal Appeals Court] judge on the [Third Circuit].[26]

Trump has five children by three marriages, as well as nine grandchildren.[27][28] His first two marriages ended in widely publicized divorces.[29]

In 1977, Trump married Czech model [Ivana Zelníčková] at the [Marble Collegiate Church] in Manhattan, in a ceremony performed by the Reverend [Norman Vincent Peale].[30][31] They had three children: [Donald Jr.] (b. 1977), [Ivanka] (b. 1981), and [Eric] (b. 1984). Ivana became a naturalized United States citizen in 1988.[32] The couple divorced in 1992, following Trump's affair with actress [Marla Maples].[33]

In October 1993, Maples gave birth to Trump's daughter, who was named [Tiffany] after high-end retailer [Tiffany & Company].[34] Maples and Trump were married two months later in December 1993.[35] They divorced in 1999,[36] and Tiffany was raised by Marla in California.[37]

In 2005, Trump married his third wife, Slovenian model [Melania Knauss], at [Bethesda-by-the-Sea] Episcopal Church in [Palm Beach, Florida]. The ceremony was followed by a reception at Trump's [Mar-a-Lago] estate.[38] In 2006, Melania became a United States citizen[39] and gave birth to a son, [Barron].[40][41] Melania became [First Lady] upon Trump's inauguration as president in January 2017.[42]

Upon his inauguration as president, Trump delegated the management of his real estate business to his two adult sons, Eric and Don Jr.[43] His daughter Ivanka resigned from The Trump Organization and moved to Washington, D.C. with her husband [Jared Kushner]. She serves as an assistant to the president,[44] and he is a [Senior Advisor] in the White House.[45]

Religion

Trump's ancestors were [Lutheran] on his father's side in Germany[46] and [Presbyterian] on his mother's side in Scotland.[47] His parents married in a Manhattan Presbyterian church in 1936.[48] As a child, he attended the [First Presbyterian Church] in Jamaica, Queens, and had his [Confirmation] there.[31] In the 1970s, his family joined the Marble Collegiate Church (an affiliate of the [Reformed Church in America]) in Manhattan.[49] The pastor at that church, Norman Vincent Peale, author of The Power of Positive Thinking and The Art of Living, ministered to Trump's family and mentored him until Peale's death in 1993.[50][49] Trump, who is Presbyterian,[51][52] has cited Peale and his works during interviews when asked about the role of religion in his personal life.[49]

Trump says he receives [Holy Communion], but that he does not ask God for forgiveness.[53] While [campaigning], Trump referred to The Art of the Deal as his second favorite book after the Bible, saying, "Nothing beats the Bible."[54] The New York Times reported that [evangelical Christians] nationwide thought "that his heart was in the right place, that his intentions for the country were pure".[55]

Trump has had associations with a number of Christian spiritual leaders, including Florida pastor [Paula White], who has been called his "closest spiritual confidant".[56] In 2015, he received a blessing from [Greek Orthodox] priest [Emmanuel Lemelson][57] and in 2016, he released a list of his religious advisers, including [James Dobson], [Jerry Falwell Jr.], [Ralph Reed], and others.[58] Referring to his daughter Ivanka's [conversion to Judaism] before her marriage to Kushner, Trump said: "I have a Jewish daughter; and I am very honored by that."[59]

Health

Trump does not drink alcohol; this decision arose in part from watching his older brother Fred Jr. suffer from alcoholism that contributed to his early death in 1981.[60][61] He also said that he has never smoked cigarettes or consumed drugs, including marijuana.[62]

In 2016, Trump's personal physician, [Harold Bornstein], issued a medical report that showed Trump's blood pressure as well as liver and thyroid function to be in normal ranges.[63][64] It also showed that he is overweight and takes statins to lower his cholesterol level.[64] In January 2018, Trump was examined by White House physician [Ronny Jackson], who stated that he is in excellent health,[65] although his weight and cholesterol level were higher than recommended. A cardiac assessment revealed no medical issues.[66] Several prominent physicians who have not examined Trump have commented that his weight, lifestyle, and [LDL cholesterol] level of 143 do not indicate excellent health.[67] Trump requested to undergo a cognition test, and passed the [Montreal Cognitive Assessment] with a score of 30/30. Jackson stated, "I’ve found no reason whatsoever to think that the President has any issues whatsoever with his thought process".[68][69]

Wealth

Trump said that he began his career with "a small loan of one million dollars" from his father.[71] He appeared on the initial Forbes 400 list of wealthy individuals in 1982 with an estimated $200 million fortune, including an "undefined" share of his parents' estate.[72] During the late 1980s he became a billionaire,[73] and he made the Forbes World's Billionaires list for the first time in 1989,[74] but he was absent from the Forbes 400 list following business losses from 1990 to 1995; he reportedly borrowed from his siblings' trusts in 1993.[72] His father's estate, valued at more than $20 million, was divided in 1999 among Trump, his three surviving siblings, and their children.[75][76]

When Trump announced his candidacy for the presidency on June 16, 2015, he released a one-page financial summary that stated a net worth of $8,737,540,000.[77] The following month, he filed a 92-page [Federal Election Commission] (FEC) financial disclosure form[78] and declared his net worth was "in excess of ten billion dollars".[79] In his presidential announcement speech, he said his wealth would make him less indebted to large campaign donors.[80][81] Forbes called his net worth estimate "a whopper", setting their own estimate at $4.1 billion in 2015.[82][83] Trump's 2015 FEC disclosure reported $362 million in total income for the year 2014.[79]

After Trump made controversial remarks about illegal immigrants in 2015, he lost business contracts with several companies; this reduced his Forbes estimate by $125 million.[84] Consumer boycotts and reduced bookings may have further affected his brand value during the presidential campaign.[85][86][87] Trump's 104-page FEC disclosure in May 2016[88] still claimed a total wealth over $10 billion, unchanged from 2015.[78] The release of the [Access Hollywood tapes] in October 2016 put further pressure on his brand,[89] but real estate experts predicted a positive rebound from becoming president.[90]

In its 2018 billionaires ranking, Forbes estimated Trump's net worth at $3.1 billion (766th in the world, 248th in the U.S.)[91] making him one of the [richest politicians in American history]. These estimates fluctuate from year to year, and among various analysts. In July 2016 Bloomberg News had pegged his wealth at $3 billion, calling it an increase thanks to his presidential nomination,[92] whereas Forbes had ranked him 324th in the world (113th in the U.S.) with $4.5 billion just a few months earlier.[93] The discrepancies among these estimates and with Trump's own figures stem mainly from the uncertain values of [appraised property] and of his [personal brand].[94]

Business career

Real estate

In 1968, Trump began his career at his father's real estate development company, Elizabeth Trump & Son, which, among other interests, owned middle-class rental housing in New York City's outer boroughs.[95][96] During his undergraduate studies, Trump joined his father Fred in revitalizing the foreclosed Swifton Village apartment complex in Cincinnati, Ohio, boosting the occupancy rate from 66% to 100%.[97][98]

When his father became chairman of the board in 1971, Trump was promoted to president of the company and renamed it The Trump Organization.[6][99] In 1973, he and his father [drew wider attention] when the [Justice Department] contended that the organization systematically discriminated against African Americans who wished to rent apartments. The Department alleged that the Trump Organization had screened out people based on race and not low income as the Trumps had stated. Under an agreement reached in 1975, the Trumps made no admission of wrongdoing and made the [Urban League] an intermediary for qualified minority applicants.[100][101] His adviser and attorney during (and after) that period was [Roy Cohn], who responded to attacks by counterattacking with maximum force, who valued both positive and negative publicity, and who Trump emulated.[102]

Manhattan developments

In 1978, Trump launched his Manhattan real estate business by purchasing a 50% stake in the financially troubled Commodore Hotel. The purchase was largely funded by a $70 million construction loan that was jointly guaranteed by Fred Trump and the Hyatt hotel chain.[103] When the remodeling was finished, the hotel reopened as the [Grand Hyatt Hotel], located next to [Grand Central Terminal].[104][105]

Also in 1978, Trump finished negotiations to develop [Trump Tower], a 58-story, 202-meter (663-foot) skyscraper in Midtown Manhattan, which The New York Times attributed to his "persistence" and "skills as a negotiator".[106] To make way for the new building, a crew of undocumented Polish workers demolished an old [Bonwit Teller] store, including [art deco] features that had initially been marked for preservation.[107] The building was completed in 1983 and houses both the primary penthouse condominium residence of Trump and the headquarters of The Trump Organization.[108][109] Architectural critic [Paul Goldberger] said in 1983 that he was surprised to find the tower's atrium was "the most pleasant interior public space to be completed in New York in some years".[110][111] Trump Tower was the setting of the NBC television show The Apprentice and includes a fully functional television studio set.[112]

In 1980, a general contractor who was unconnected to Trump began repairs on [Central Park]'s [Wollman Rink]. Despite an anticipated two-and-a-half year construction timeframe, the repairs remained incomplete in 1986. Trump took over the project and completed it in three months for $1.95 million, which was $775,000 less than the initial budget. He operated the rink for a year and gave most of the profits to charity and public works projects[113] in exchange for the rink's [concession] rights.[114]

In 1988 Trump acquired the [Plaza Hotel] in Manhattan for a record-setting $407 million and appointed his wife Ivana to manage its operation.[115] Trump invested $50 million to restore the building, which he called "the Mona Lisa".[116] According to hotel expert Thomas McConnell, the Trumps boosted it from a three-star to a four-star ranking and sold it in 1995, by which time Ivana was no longer involved in the hotel's day-to-day operations.[117]

In 1994, Trump got involved with the refurbishing of the Gulf and Western Building on [Columbus Circle]. The former office building was remodeled with design and structural enhancements to become a luxury residential and hotel property.[118][119] When the job was finished, Trump owned commercial space in a 44-story mixed-use tower (hotel and condominium) that he named [Trump International Hotel and Tower].[120]

In 1996, Trump acquired the Bank of Manhattan Trust Building, which was a vacant seventy-one story skyscraper on Wall Street that had briefly been the [tallest building in the world] when it was completed in 1930. After an extensive renovation, the high-rise was renamed the Trump Building at [40 Wall Street].[121]

In 1997, he began construction on [Riverside South], which he dubbed [Trump Place], a multi-building development along the [Hudson River]. The project encountered delays the following year because a subcontractor had to replace defective concrete.[122][123] He and the other investors in the project ultimately sold their interest for $1.8 billion in 2005 in what was then the biggest residential sale in the history of New York City.[124]

From 1994 to 2002, Trump owned a 50% share of the [Empire State Building]. He would have renamed it "Trump Empire State Building Tower Apartments" if he had been able to boost his share.[125][126]

In 2001, Trump completed [Trump World Tower], which was across from the headquarters of the United Nations. For a while, the structure was the [tallest all-residential tower in the world].[127] In 2002, Trump acquired the former Hotel Delmonico, which was renovated and reopened in 2004 as the [Trump Park Avenue]; the building consisted of 35 stories of luxury condominiums.[128]

Palm Beach estate

In 1985, Trump acquired the [Mar-a-Lago] estate in [Palm Beach, Florida] for under $8 million.[129] The home was built in the 1920s by heiress and socialite [Marjorie Merriweather Post], who envisioned the house as a future winter retreat for American presidents.[130]

Trump's initial offer of $28 million had been rejected, and he was able to get the property at the much lower price by purchasing [Jack C. Massey]'s beachfront property for $2 million[131] and threatening to build a house on it that would block Mar-a-Lago's ocean view. In addition to using the estate as a home, Trump also turned it into a private club open to everyone who could afford the initiation fee of $100,000 plus annual dues.[132]

In 1986, Trump acquired a foreclosed 33-story, twin-tower condominium complex in nearby [West Palm Beach] for $40 million. Auto CEO [Lee Iacocca] invested in three of the condos.[133] Trump spruced up the complex's public areas and heavily promoted the property for years, but selling the units proved difficult, and the deal turned out to be unprofitable.[134]

Atlantic City casinos

New Jersey legalized casino gambling in 1977, and Trump went to [Atlantic City, New Jersey] the following year in order to explore how he might get involved in a new business venture. Seven years later, [Harrah's at Trump Plaza] hotel and casino opened there; the project was built by Trump with financing from the [Holiday Corporation], which also managed the operation.[135] Renamed "Trump Plaza" soon after it opened, it was at the time the tallest building in Atlantic City.[136] The casino's poor financial results exacerbated disagreements between Trump and Holiday Corp., which led to Trump's paying $70 million in May 1986 to buy out their interest in the property.[137][138] Trump also acquired a partially completed building in Atlantic City from the [Hilton Corporation] for $320 million; when completed in 1985, that hotel and casino became [Trump Castle], and Trump's wife [Ivana] managed that property until 1988.[139][140]

Also in 1988, Trump acquired his third casino in Atlantic City, the [Taj Mahal], then halfway through construction, through a complex transaction with television host and entertainer [Merv Griffin] as well as the resort and casino company [Resorts International].[141] The Taj opened in April 1990 and was built at a total cost of $1.1 billion, which at the time made it the most expensive casino ever.[142][143] The project was financed with $675 million in [junk bonds][144] and was a major gamble by Trump.[145] The project underwent debt restructuring the following year,[146] leaving Trump with 50% ownership.[147] He also sold his 282-foot (86 m) megayacht, the Trump Princess, which had been indefinitely docked in Atlantic City while leased to his casinos for use by wealthy gamblers.[148][149]

In 1995, Trump founded [Trump Hotels & Casino Resorts] (THCR), which assumed ownership of Trump Plaza, Trump Castle, and the [Trump Casino] in [Gary, Indiana].[150] THCR purchased Taj Mahal in 1996 and underwent bankruptcy restructuring in 2004 and 2009, leaving Trump with 10% ownership in the Trump Taj Mahal and other Trump casino properties.[151] From mid 1995 until early 2009, he served as chairman of the publicly-traded THCR organization—which was renamed Trump Entertainment Resorts—and served as CEO from mid 2000 to mid 2005.[152]

During the 1990s, Trump's casino ventures faced competition from [Native American gaming] at the [Foxwoods] casino located on an Indian reservation in Connecticut, where it was exempt from the state's anti-gambling laws. Trump stated in 1993 that the casino owners did not look like real Indians to him or to other Indians.[153] Subsequent to that well-publicized remark about the [Mashantucket Pequot Tribe], Trump became a key investor backing the [Paucatuck Eastern Pequots], who were also seeking state recognition.[154]

Golf courses

The Trump Organization operates many golf courses and resorts in the United States and around the world. According to Golfweek, Trump owns or manages about 18 golf courses.[155] His personal financial disclosure with the FEC stated that his golf and resort revenue for the year 2015 was roughly $382 million,[78][88] while his three European golf courses did not show a profit.[92]

In 2006, Trump bought 1,400 acres (570 ha), including the [Menie Estate] in [Balmedie], [Aberdeenshire], Scotland, and created a golf resort there.[156] Scottish supporters emphasized potential economic benefits, and opponents emphasized potential environmental harm to a [Site of Special Scientific Interest] (SSSI).[157][158][159] A spokesperson for the golf course has said 95% of the SSSI is untouched.[160] A 2011 independent documentary, You've Been Trumped, chronicled the golf resort's construction and struggles.[161] In 2015, [an offshore windfarm] being built within sight of the golf course prompted a legal challenge by Trump, which [was dismissed] by the U.K. Supreme Court.[162] In the wake of the 2008 recession, Trump greatly scaled back development of this property, and as of December 2016[update] Scottish officials were pushing for completion of the far larger development as originally approved.[163]

In April 2014, Trump purchased the [Turnberry] hotel and golf resort in [Ayrshire], Scotland, which hosted the [British Open] four times between 1977 and 2009.[164][165] After extensive renovations and a remodeling of the course by golf architect Martin Ebert, Turnberry was re-opened in June 2016.[166]

Hotels outside New York

In the late 2000s and early 2010s, The Trump Organization expanded its footprint beyond New York with the co-development and management of [hotel towers] in [Chicago], [Las Vegas], [Washington D.C.], [Panama City], [Toronto], and [Vancouver]. There are also Trump-branded buildings in Dubai, [Honolulu], Istanbul, Manila, Mumbai, and Indonesia.[167]

Branding and licensing

Trump has marketed his name on a large number of building projects that are owned and operated by other people and companies. He has also licensed his name for various commercial products and services. In doing so, he achieved mixed success for himself, his partners, and investors in the projects.[168] In 2011, Forbes' financial experts estimated the value of the Trump [brand] at $200 million. Trump disputed this valuation, saying his brand was worth about $3 billion.[169] According to an analysis by The Washington Post, there are more than 50 licensing or management deals involving Trump's name, which have generated at least $59 million in revenue for his companies.[170]

Legal affairs and bankruptcies

As of 2016[update], Trump and his businesses had been involved in more than 3,500 state and federal legal actions. He or one of his companies was the plaintiff in 1,900 cases and the defendant in 1,450. With Trump or his company as plaintiff, more than half the cases have been against gamblers at his [casinos] who had failed to pay off their debts. With Trump or his company as a defendant, the most common type of case involved personal injury cases at his hotels. In cases where there was a clear resolution, Trump's side won 451 times and lost 38.[171][172]

Trump has never filed for [personal bankruptcy], but his hotel and casino businesses have been declared bankrupt six times between 1991 and 2009 in order to re-negotiate debt with banks and owners of stock and bonds.[173][174] Because the businesses used [Chapter 11 bankruptcy], they were allowed to operate while negotiations proceeded. Trump was quoted by Newsweek in 2011 saying, "I do play with the bankruptcy laws – they're very good for me" as a tool for trimming debt.[175][176]

The six bankruptcies were the result of over-leveraged hotel and casino businesses in Atlantic City and New York: [Trump Taj Mahal] (1991), [Trump Plaza Hotel and Casino] (1992), [Plaza Hotel] (1992), [Trump Castle Hotel and Casino] (1992), Trump Hotels and Casino Resorts (2004), and [Trump Entertainment Resorts] (2009).[177][178] Trump said, "I've used the laws of this country to pare debt ... We'll have the company. We'll throw it into a chapter. We'll negotiate with the banks. We'll make a fantastic deal. You know, it's like on The Apprentice. It's not personal. It's just business."[146]

A 2016 analysis of Trump's business career by The Economist concluded that his "... performance [from 1985 to 2016] has been mediocre compared with the stock market and property in New York", noting both his successes and bankruptcies.[179] A subsequent analysis by The Washington Post concluded that "Trump is a mix of braggadocio, business failures, and real success", calling his casino bankruptcies the "most infamous flop" of his business career.[180]

Adult film actress [Stormy Daniels] has alleged that she and Trump had an extramarital affair in 2006, months after the birth of his youngest child.[181] Just before the 2016 presidential election Daniels, whose real name is Stephanie Clifford, was paid $130,000 by Trump's attorney [Michael Cohen] as part of a [non-disclosure agreement], through an [LLC] set up by Cohen; he says he used his own personal money for the payment.[182] In February 2018, Daniels filed suit against the LLC asking to be released from the agreement so that she can tell her story. Cohen filed a private [arbitration] proceeding and obtained a [restraining order] to keep her from discussing the case.[183] According to [White House Press Secretary] [Sarah Huckabee Sanders], Trump has denied the allegations.[184] On March 16 Cohen, with Trump's approval, asked for Daniels' suit to be moved from state to federal court, based on the criteria that the parties live in different places and the amount at stake is more than $75,000; Cohen asserted that Daniels could owe $20 million in [liquidated damages] for breaching the agreement.[185] The filing marked the first time that Trump himself, through his personal attorney, has taken part in the Daniels litigation.[186]

Side ventures

After Trump took over the family real estate firm in 1971 and renamed it The Trump Organization, he greatly expanded its real estate operations and ventured into numerous other business activities. The company eventually became the umbrella organization for several hundred individual business ventures and partnerships.[187]

Sports events

In September 1983, Trump purchased the [New Jersey Generals]—an American football team that played in the [United States Football League] (USFL)—from oil magnate [J. Walter Duncan]. The USFL played three seasons during the spring and summer. After the 1985 season, the organization folded due to continuous financial difficulties, despite winning an antitrust [lawsuit against the NFL].[188]

After the Generals folded, Trump remained involved with other sports; he operated golf courses in several countries.[188] At the Trump Plaza in Atlantic City, he hosted several boxing matches, which included [Mike Tyson's 1988 heavyweight championship fight] against [Michael Spinks].[189] He also acted as a financial advisor to [Mike Tyson].[190] In 1989 and 1990, Trump lent his name to the [Tour de Trump] cycling stage race, which was an attempt to create an American equivalent of European races such as the [Tour de France] or the [Giro d'Italia].[191]

Miss Universe

From 1996 to 2015, Trump owned part or all of the [Miss Universe] pageants.[192][193] The pageants include [Miss USA] and [Miss Teen USA]. His management of this business involved his family members—daughter Ivanka once hosted Miss Teen USA. Trump hired the first female president of the Miss Universe business in 1997.[194] He became dissatisfied with how CBS scheduled the pageants, and took both Miss Universe and Miss USA to NBC in 2002.[195][196]

In his 2015 U.S. presidential campaign kickoff speech, Trump made controversial statements about illegal immigrants who crossed the border from Mexico. NBC then decided to end its business relationship with him and stated that it would no longer air the Miss Universe or Miss USA pageants on its networks.[197] In September 2015, Trump bought NBC's share of the Miss Universe Organization and became its sole owner for three days. He then sold the entire company to the WME/IMG talent agency.[198]

Trump University

Trump University was a for-profit education company that was founded by Trump and his associates, Michael Sexton and Jonathan Spitalny. The company ran a real estate training program and charged between $1,500 and $35,000 per course.[199][200][201] In 2005, New York State authorities notified the operation that its use of the word "university" was misleading and violated state law. After a second such notification in 2010, the name of the company was changed to the "Trump Entrepreneurial Institute".[202] Trump was also found personally liable for failing to obtain a business license for the operation.[203]

Ronald Schneckenberg, a sales manager for Trump University, said in a testimony that he was reprimanded for not trying harder to sell a $35,000 real estate class to a couple who could not afford it.[204] Schneckenberg said that he believed "Trump University was a fraudulent scheme" which "preyed upon the elderly and uneducated to separate them from their money."[204]

In 2013, New York State filed a $40 million civil suit against Trump University; the suit alleged that the company made false statements and defrauded consumers.[202][205] In addition, two class-action civil lawsuits were filed in federal court relating to Trump University; they named Trump personally as well as his companies.[206] During the [presidential campaign], Trump criticized presiding Judge [Gonzalo P. Curiel], alleging bias in his rulings because of his Mexican heritage.[207][208] Shortly after Trump won the presidency, the parties agreed to a settlement of all three pending cases, whereby Trump paid a total of $25 million and denied any wrongdoing.[209][210]