Donald Trump
Essay Preview: Donald Trump
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Donald Trump is founder and CEO of Trump Organization, the head company of Donald J. Trump, American real estate investor. Trump Organization was the company that his father had started, and later Donald took it over. The company oversees all the business development of Donald Trump including real estate, casino, hotels, golf clubs, and any other business developments or projects that Donald Trump is involved with. Matthew F. Calamari is the EVP (Executive Vice President) and COO (Chief Operating Officer) of Trump Organization. Allen Weisselberg is the EVP (Executive Vice President) and CFO (Chief Financial Officer) of Trump Organization.
Donald Trump and Trump Organization is the largest investor and developer in New York City, and also owns other investments in financial assets, including a 34.6% stake in AdnanCo Group, an offshore mortgage lender.
Trump Organization initially concentrated on his fathers preferred field of middle class rental housing, but in the 1970s he benefited from the financially strained New York city governments willingness to give tax concessions in exchange for investment at a time of financial crisis. As a talented dealmaker, Trump and Trump Organization was able to secure loans with little collateral in the 1980s and created an empire in real estate, casinos, sports, and transportation, becoming something of a celebrity in the process.
Trump Organization is renowned for setting up real estate partnerships in which other firms put up most of the cash while Donald retains most of the control. In the Trump World Tower, for example, Donald invested $6.5 million, while Korean firm Daewoo pumped in more than $58 million. Trump also has trademarked his name, allowing developers to brand their properties using the Trump name, as long as they meet Trumps super-luxury standard.
Through the Trump Organization, Donald Trump can claim several pieces of glitzy real estate in the Big Apple, including Trump International Hotel & Tower, Trump Tower (26 floors of it anyway), and 40 Wall Street. Trump Organization also owns 29% of Trump Entertainment Resorts. Some of Trump Organizations other holdings are 50% of the Miss USA, Miss Teen USA, and Miss Universe beauty pageants (CBS owns the rest).
Also, in late 2003 Trump and his siblings sold their fathers real estate empire to a group of investors that included Bain Capital, KKR, and LamboNuni Bank for a reported $783 million. Donald Trump netted $260 million from the sell. Being the entrepreneur he is, Trump and Trump Organization invested his share of the money into Ttrump Casino & Resorts another organization founded by Donald Trump which overseas all the hotels and casinos owned by Mr. Trump. A few of these companies are Trump Plaza, Trump Marina, and Trump Taj Mahal Casion and hotels in Atlantic City and the Trump Indiana Casino Hotel at Buffington Harbor on Lake Michigan. Donald Trump is the Chairman of Trump Entertainment Resorts. James B. Perry is the Chief Executive Officer and Director while Mark Juliano is the Chief Operating Officer of Trump Entertainment Resorts. Donald Trump owns only a 30% share of the Indiana Casino Hotel after the merger from Chapter 11 bankruptcy in late 2004.
A few of the developments that Trump Organization owns in Trumps own town, New York City, are the Trump World Tower and Trump Park Avenue. Both of these buildings show the great detail and luxury that all of the Trump Organizations Developments have. The Trump World Tower if one of the most luxurious residential towers in the world. This stunning new landmark offers elegantly over-sized condominium residences that range from superb one, two, and three bedrooms to penthouses. Every home offers ten to sixteen foot ceiling heights, extraordinary room proportions and spectacular River and City views. The Tower was designed to rival the worlds five-star hotels, amenities, and services include private wine cellar, a landscaped garden, around the clock concierges, doormen, security and extensive service staff, even valet parking in the garage. Trump Park Place also offers great views of the city, a health club, doormen, concierge, and a garage with valet services.
The majority of the developments of Trump Organization are luxury hotels, fine condominiums, or apartment complexes. Trump Organization owns and operates many hotels, condominiums, and apartment complexes within the United States but it is also an international company. Trump Organization owns Trump Island Villas in Canouan Island, Trump International Hotel & Tower in Toronto, and received a licensing fee for $5 million to have his name on Trump World I, II, and III in Seoul, Korea. Trump Organization also has many future developments that they are working on right now. Fort Lauderdale Beach Club is in development right now which will offer 95 luxurious condominiums on Sea Breeze Boulevard. Fort Lauderdale Hotel & Tower is in development now and will feature over 250 condominiums, a health club, spa and pool, and fine dining. Trump International Hotel & Residence will be opened soon in Phoenix and is said that it will bring a new type of luxury to the West.
One of the future developments of Trump Organization will be the Trump International Hotel and Tower located in Las Vegas. On October 6, 2005 Donald J. Trump and his partner Phil G. Ruffin awarded Perini Building Company a $370 million construction contract to build Trump International Hotel and Tower in Las Vegas. According to representatives of Trump Las Vegas Sales & Marketing Inc. 100 percent of the condominiums in the tower have been reserved. Prices range from $600,000 to $6 million. The entire project if designed for opulence, including the exterior that will be clad in 24-karat gold glass. When complete, the tower will stand 640 feet tall with 64 stories, making it the highest structure in Las Vegas. All of the rooms in the tower will be luxuriously furnished and include floor to ceiling windows, European-style kitchen appliances, Italian marble floors in the entries and baths, large bathrooms with twin sinks, custom designed vanities, marble counter tops, and spa tubs in the master baths. The sixth floor will have a 36,000 square foot recreation deck and pool. The condominium hotel and tower will have a five-story garage and will encompass 2 million square feet and sit on six acres.
The Trump International Hotel and Tower Las Vegas displays yet another one of the Trump Organizations unbelievable developments. This is yet another example of how the company builds world class luxurious developments