American Entrepreneurs

Season 1 Episode 3

Donald Trump: Master of the Deal

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Donald Trump: Master of the Deal
As a child, Donald Trump's parents sent him to military school because he was considered to be "a bit out of control." He ended up becoming a star cadet at the New York Military Academy and then went on to the Wharton School of Finance in Philadelphia. He was well on his way to becoming one of the most well-known business tycoons in the country. Trump started his ascent to the top by aquiring and then renovating an old, failing New York hotel and transforming it into a modern, glass-covered, gleaming structure. The years 1983-1990 are successful ones for Trump; he buys and builds, wheels and deals, and runs a profitable casino in Atlantic City. The name Trump is emblazoned all over the place; and as far as the banks are concerned the name Trump guarantees success and pots of gold for everybody. He and his wife, Ivana, have three children and a house in Connecticut. Trump buys the Plaza Hotel in New York City and in 1988 Ivana becomes its director. But all this good fortune was not to last. When the U.S. economy slipped into a serious decline in the early 1990s, Trump's empire took a serious hit. His lavish casino, The Taj Mahal filed for bankrupcy in November of 1990. His creditors start calling in his debts. At the same time, his rumored affair with Marla Maples hits the press. Ivana is devastated and sues for half his estate. Within a year a divorce settlement was finalized. However, Donald Trump was not to be kept down for long. He married Marla Maples, who had already given birth to their daughter, Tiffany. He even appeared in a Pizza Hut commercial with his ex-wife Ivana. He sold his properties, did what his financial advisors told him to do. His business is expanding to international markets now. He is still a major force in Atlantic City. By 1995, he was back and in fullswing; even voted one of the world's wealthiest men by FORBES, the same magazine that helped bring his empire down.moreless
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