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Donald John Trump is the 45th President of the United States, in office since January 20, 2017. In addition to being a politician, he is a successful business magnate and television personality as well. The son of a wealthy real estate developer, Trump attended the Wharton School of the University of Pennsylvania before taking charge of his family’s business. An astute businessman and charismatic leader, he built and renovated numerous hotels, casinos, and office towers during his business career, accumulating a net worth of billions. He also owned several beauty pageants and ventured into reality television as well. Expanding the horizons of his ambitions, he entered national politics in the early 2000s and set his eyes on the presidential office. As a politician, his career was marred by allegations of sexual misconduct and he also earned much criticism for his extravagant lifestyle and controversial comments on immigrants from Islamic nations. Despite the controversies surrounding him, Trump ran for the 2016 presidential election as a Republican and defeated Democratic candidate Hillary Clinton in a surprise victory. Donald Trump is the first person to assume presidency without prior military or government service and at 70, he is also the oldest one to assume the office.
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Childhood & Early Life He was born in New York City, to a builder and real estate developer Frederick Trump and his wife Mary McLeod. He was one of the five children. He had his initial schooling in the Kew Forest School, Forest hills, New York. At the age of 13, his parents sent him to New York Military Academy (NYMA) in Upstate New York where he performed well, both socially and academically; emerging as a star athlete and student leader by the time he graduated in 1964. He was at Fordham University for two years before joining the Wharton School of Finance at the University Of Pennsylvania, from where he graduated in economics in 1968.
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Business Career He joined his father’s company, ‘Elizabeth Trump and Son’, while still in college. The company focused on middle-class rental housing in Brooklyn, Queens and Staten Island. He became deeply involved in the project and with a $500,000 investment, turned the 1200 unit apartment complex in Cincinnati with a 66 percent vacancy rate to 100 percent occupancy within two years. In 1971, he moved to Studio apartment in Manhattan, New York and became involved with larger building projects. In the following year, he finalized first multi-million dollar real estate transaction with the sale of Swifton village in Cincinnati, Ohio. In 1985, he bought Mar-a-lago estate in Palm beach, Florida and renovated the Barbizon hotel and 100 Central Park South. In 1988, he bought the Plaza Hotel in New York City. In 1989, he bought a fleet of Boeing 727 airplanes to form Trump air shuttle service. Unfortunately a helicopter crash killed three Trump casino executives which lead to big issue. By 1989, poor business decisions left him unable to meet loan payments but he somehow financed the construction of his third casino, the $1 million Taj Mahal, with high-interest junk bonds. The increasing debt soon brought him to business bankruptcy.
In 1990, he regained his previous stable financial position and fame and opened the Trump Taj Mahal casino in Atlantic City. Soon he gained approval for Riverside south development of West Side rail yards. In 1996, he got the ownership of Miss Universe Organization which produces the Miss Universe, Miss USA, and Miss Tean USA pageants. In 2003, he became joint partner with the National Broadcasting Company (NBC) where he became the executive producer and host of the NBC reality show, ‘The Apprentice’ which became a huge success. Following its success, he co-produced a show, ‘The Celebrity Apprentice’ along with British TV producer Mark Burnett. On October 21, 2004, Trump Hotels and Casino & Resorts declared a restructuring of its debt which led to a reduction in his individual ownership from 56 percent to 27 percent. The company applied for Chapter 11 Protection in November and soon the company re-emerged from bankruptcy as ‘Trump Entertainment Resorts Holdings’.
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