Donald trump | Putiton-E - The paid encyclopedia
Introduction
Donald trump
Donald John Trump (born June 14, 1946) is an American politician, media personality, and businessman who served as the 45th president of the United States from 2017 to 2021.
Trump received a Bachelor of Science in economics from the University of Pennsylvania in 1968. His father named him president of his real estate business in 1971. Trump renamed it the Trump Organization and reoriented the company toward building and renovating skyscrapers, hotels, casinos, and golf courses. After a series of business failures in the late twentieth century, he launched successful side ventures, mostly licensing the Trump name. From 2004 to 2015, he co-produced and hosted the reality television series The Apprentice. He and his businesses have been plaintiffs or defendants in more than 4,000 legal actions, including six business bankruptcies.
Trump won the 2016 presidential election as the Republican Party nominee against Democratic Party nominee Hillary Clinton while losing the popular vote.[a] A special counsel investigation established that Russia had interfered in the election to favor Trump. During the campaign, his political positions were described as populist, protectionist, isolationist, and nationalist. His election and policies sparked numerous protests. He was the only U.S. president without prior military or government experience. Trump promoted conspiracy theories and made many false and misleading statements during his campaigns and presidency, to a degree unprecedented in American politics. Many of his comments and actions have been characterized as racially charged, racist, and misogynistic.
As president, Trump ordered a travel ban on citizens from several Muslim-majority countries, diverted military funding toward building a wall on the U.S.–Mexico border, and implemented a family separation policy. He weakened environmental protections, rolling back more than 100 environmental policies and regulations. He signed the Tax Cuts and Jobs Act of 2017, which cut taxes and eliminated the individual health insurance mandate penalty of the Affordable Care Act. He appointed Neil Gorsuch, Brett Kavanaugh, and Amy Coney Barrett to the U.S. Supreme Court. He reacted slowly to the COVID-19 pandemic, ignored or contradicted many recommendations from health officials, used political pressure to interfere with testing efforts, and spread misinformation about unproven treatments. Trump initiated a trade war with China and withdrew the U.S. from the proposed Trans-Pacific Partnership trade agreement, the Paris Agreement on climate change, and the Iran nuclear deal. He met with North Korean leader Kim Jong Un three times but made no progress on denuclearization.
Trump is the only U.S. president to have been impeached twice, in 2019–20 for abuse of power and obstruction of Congress after he pressured Ukraine to investigate Joe Biden, and in 2021 for incitement of insurrection. The Senate acquitted him in both cases. Trump refused to concede after he lost the 2020 presidential election to Biden, falsely claiming widespread electoral fraud, and attempted to overturn the results. On January 6, 2021, he urged his supporters to march to the U.S. Capitol, which many of them attacked. Scholars and historians rank Trump as one of the worst presidents in American history. Since leaving office, Trump has continued to dominate the Republican Party and is its presumptive nominee for the 2024 presidential election.
In May 2024, a jury in New York found Trump guilty on 34 felony counts of falsifying business records related to a hush-money payment to Stormy Daniels in an attempt to influence the 2016 election, making Trump the first former U.S. president to be convicted of a crime. He has been indicted in three other jurisdictions on 54 other felony counts related to his mishandling of classified documents and efforts to overturn the 2020 presidential election. In civil proceedings, Trump was found liable for sexual abuse and defamation in 2023 and 2024 and for financial fraud in 2024.
Personal life
Early life
Trump at the New York Military Academy in 1964
Donald John Trump was born on June 14, 1946, at Jamaica Hospital in Queens, New York City,[1] the fourth child of Fred Trump and Mary Anne MacLeod Trump. Trump grew up with older siblings Maryanne, Fred Jr., and Elizabeth and younger brother Robert in the Jamaica Estates neighborhood of Queens, and attended the private Kew-Forest School from kindergarten through seventh grade.[2][3][4] Trump went to Sunday school and was confirmed in 1959 at the First Presbyterian Church in Jamaica, Queens.[5][6] At age 13, he entered the New York Military Academy, a private boarding school.[7] In 1964, he enrolled at Fordham University. Two years later, he transferred to the Wharton School of the University of Pennsylvania, graduating in May 1968 with a Bachelor of Science in economics.[8][9] In 2015, Trump's lawyer Michael Cohen threatened Trump's colleges, high school, and the College Board with legal action if they released Trump's academic records.[10]
While in college, Trump obtained four student draft deferments during the Vietnam War.[11] In 1966, he was deemed fit for military service based on a medical examination, and in July 1968, a local draft board classified him as eligible to serve.[12] In October 1968, he was classified 1-Y, a conditional medical deferment,[13] and in 1972, he was reclassified 4-F due to bone spurs, permanently disqualifying him.[14]
Family
Main article: Family of Donald Trump
In 1977, Trump married Czech model Ivana Zelníčková.[15] They had three children: Donald Jr. (born 1977), Ivanka (1981), and Eric (1984). The couple divorced in 1990, following Trump's affair with actress Marla Maples.[16] Trump and Maples married in 1993 and divorced in 1999. They have one daughter, Tiffany (born 1993), who was raised by Marla in California.[17] In 2005, Trump married Slovenian model Melania Knauss.[18] They have one son, Barron (born 2006).[19]
Religion
In the 1970s, his parents joined the Marble Collegiate Church, part of the Reformed Church in America.[5][20] In 2015, the church stated that Trump was not an active member.[6] In 2019, he appointed his personal pastor, televangelist Paula White, to the White House Office of Public Liaison.[21] In 2020, he said he identified as a non-denominational Christian.[22]
Health habits
Trump says he has never drunk alcohol, smoked cigarettes, or used drugs.[23][24] He sleeps about four or five hours a night.[25][26] He has called golfing his "primary form of exercise" but usually does not walk the course.[27] He considers exercise a waste of energy, because he believes the body is "like a battery, with a finite amount of energy" which is depleted by exercise.[28][29] In 2015, Trump's campaign released a letter from his longtime personal physician, Harold Bornstein, stating that Trump would "be the healthiest individual ever elected to the presidency".[30] In 2018, Bornstein said Trump had dictated the contents of the letter and that three of Trump's agents had seized his medical records in a February 2017 raid on the doctor's office.[30][31]
Wealth
Main article: Wealth of Donald TrumpTrump (far right) and wife Ivana in the receiving line of a state dinner for King Fahd of Saudi Arabia in 1985, with U.S. president Ronald Reagan and First Lady Nancy Reagan
In 1982, Trump made the initial Forbes list of wealthy people for holding a share of his family's estimated $200 million net worth (equivalent to $631 million in 2023).[32] His losses in the 1980s dropped him from the list between 1990 and 1995.[33] After filing the mandatory financial disclosure report with the FEC in July 2015, he announced a net worth of about $10 billion. Records released by the FEC showed at least $1.4 billion in assets and $265 million in liabilities.[34] Forbes estimated his net worth dropped by $1.4 billion between 2015 and 2018.[35] In their 2024 billionaires ranking, Trump's net worth was estimated to be $2.3 billion (1,438th in the world).[36]
Journalist Jonathan Greenberg reported that Trump called him in 1984, pretending to be a fictional Trump Organization official named "John Barron". Greenberg said that Trump, just to get a higher ranking on the Forbes 400 list of wealthy Americans, identified himself as "Barron", and then falsely asserted that Donald Trump owned more than 90 percent of his father's business. Greenberg also wrote that Forbes had vastly overestimated Trump's wealth and wrongly included him on the 1982, 1983, and 1984 rankings.[37]
Trump has often said he began his career with "a small loan of one million dollars" from his father and that he had to pay it back with interest.[38] He was a millionaire by age eight, borrowed at least $60 million from his father, largely failed to repay those loans, and received another $413 million (2018 dollars adjusted for inflation) from his father's company.[39][40] In 2018, he and his family were reported to have committed tax fraud, and the New York State Department of Taxation and Finance started an investigation.[40] His investments underperformed the stock and New York property markets.[41][42] Forbes estimated in October 2018 that his net worth declined from $4.5 billion in 2015 to $3.1 billion in 2017 and his product-licensing income from $23 million to $3 million.[43]
Contrary to his claims of financial health and business acumen, Trump's tax returns from 1985 to 1994 show net losses totaling $1.17 billion. The losses were higher than those of almost every other American taxpayer. The losses in 1990 and 1991, more than $250 million each year, were more than double those of the nearest taxpayers. In 1995, his reported losses were $915.7 million (equivalent to $1.83 billion in 2023).[44][45][32]
In 2020, The New York Times obtained Trump's tax information extending over two decades. Its reporters found that Trump reported losses of hundreds of millions of dollars and had, since 2010, deferred declaring $287 million in forgiven debt as taxable income. His income mainly came from his share in The Apprentice and businesses in which he was a minority partner, and his losses mainly from majority-owned businesses. Much income was in tax credits for his losses, which let him avoid annual income tax payments or lower them to $750. During the 2010s, Trump balanced his businesses' losses by selling and borrowing against assets, including a $100 million mortgage on Trump Tower (due in 2022) and the liquidation of over $200 million in stocks and bonds. He personally guaranteed $421 million in debt, most of which is due by 2024.[46]
As of October 2021, Trump had over $1.3 billion in debts, much of which is secured by his assets.[47] In 2020, he owed $640 million to banks and trust organizations, including Bank of China, Deutsche Bank, and UBS, and approximately $450 million to unknown creditors. The value of his assets exceeds his debt.[48]
Business career
Real estate
Trump Tower in Midtown Manhattan
Starting in 1968, Trump was employed at his father's real estate company, Trump Management, which owned racially segregated middle-class rental housing in New York City's outer boroughs.[49][50] In 1971, he became president of the company and began using the Trump Organization as an umbrella brand.[51] Between 1991 and 2009, he filed for Chapter 11 bankruptcy protection for six of his businesses, the Plaza Hotel in Manhattan, the casinos in Atlantic City, New Jersey, and the Trump Hotels & Casino Resorts company.[52]
Manhattan developments
Trump attracted public attention in 1978 with the launch of his family's first Manhattan venture, the renovation of the derelict Commodore Hotel, adjacent to Grand Central Terminal.[53] The financing was facilitated by a $400 million city property tax abatement arranged for Trump by his father who also, jointly with Hyatt, guaranteed a $70 million bank construction loan.[50][54] The hotel reopened in 1980 as the Grand Hyatt Hotel,[55] and that same year, Trump obtained rights to develop Trump Tower, a mixed-use skyscraper in Midtown Manhattan.[56] The building houses the headquarters of the Trump Corporation and Trump's PAC and was Trump's primary residence until 2019.[57][58]
In 1988, Trump acquired the Plaza Hotel with a loan from a consortium of sixteen banks.[59] The hotel filed for bankruptcy protection in 1992, and a reorganization plan was approved a month later, with the banks taking control of the property.[60] In 1995, Trump defaulted on over $3 billion of bank loans, and the lenders seized the Plaza Hotel along with most of his other properties in a humiliating restructuring that allowed Trump to avoid personal bankruptcy.[61][62] The lead bank's attorney said of the banks' decision that they "all agreed that he'd be better alive than dead."[62]
In 1996, Trump acquired and renovated the mostly vacant 71-story skyscraper at 40 Wall Street, later rebranded as the Trump Building.[63] In the early 1990s, Trump won the right to develop a 70-acre (28 ha) tract in the Lincoln Square neighborhood near the Hudson River. Struggling with debt from other ventures in 1994, Trump sold most of his interest in the project to Asian investors, who financed the project's completion, Riverside South.[64]
Atlantic City casinos
Entrance of the Trump Taj Mahal in Atlantic City
In 1984, Trump opened Harrah's at Trump Plaza, a hotel and casino, with financing and management help from the Holiday Corporation.[65] It was unprofitable, and Trump paid Holiday $70 million in May 1986 to take sole control.[66] In 1985, Trump bought the unopened Atlantic City Hilton Hotel and renamed it Trump Castle.[67] Both casinos filed for Chapter 11 bankruptcy protection in 1992.[68]
Trump bought a third Atlantic City venue in 1988, the Trump Taj Mahal. It was financed with $675 million in junk bonds and completed for $1.1 billion, opening in April 1990.[69][70] Trump filed for Chapter 11 bankruptcy protection in 1991. Under the provisions of the restructuring agreement, Trump gave up half his initial stake and personally guaranteed future performance.[71] To reduce his $900 million of personal debt, he sold the Trump Shuttle airline; his megayacht, the Trump Princess, which had been leased to his casinos and kept docked; and other businesses.[72]
In 1995, Trump founded Trump Hotels & Casino Resorts (THCR), which assumed ownership of the Trump Plaza.[73] THCR purchased the Taj Mahal and the Trump Castle in 1996 and went bankrupt in 2004 and 2009, leaving Trump with 10 percent ownership.[65] He remained chairman until 2009.[74]
Clubs
In 1985, Trump acquired the Mar-a-Lago estate in Palm Beach, Florida.[75] In 1995, he converted the estate into a private club with an initiation fee and annual dues. He continued to use a wing of the house as a private residence.[76] Trump declared the club his primary residence in 2019,[58] and the town determined in 2021 that he was legally entitled to live there as an employee of the club.[58][77][importance?] The Trump Organization began building and buying golf courses in 1999.[78] It owns fourteen and manages another three Trump-branded courses worldwide.[78][79]
Licensing of the Trump brand
See also: List of things named after Donald Trump
The Trump name has been licensed for consumer products and services, including foodstuffs, apparel, learning courses, and home furnishings.[80][81] According to The Washington Post, there are more than 50 licensing or management deals involving Trump's name, and they have generated at least $59 million in revenue for his companies.[82] By 2018, only two consumer goods companies continued to license his name.[80]
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