Halkalı Halı Yıkama Beylikdüzü Halı Yıkama Bahçeşehir Halı Yıkama seocu

How Donald Trump’s Father Built A Real Estate Empire

Donald Trump has long enjoyed presenting himself as a self-made man, claiming the real estate portfolio that brought him wealth and fame is the product of hard graft and vision, nothing more.

Frederick Christ Trump (yes, you read that right) built up a huge property empire in the mid-20th century, incorporating 27,000 apartments and row houses in the New York City boroughs of Queens and Brooklyn, while the young Donald was raised in a 23-room, nine bathroom mansion in the leafy middle-class suburb of Jamaica Estates, making a nonsense of his claim to have sprung from hardship.

Fred was born in 1905, the son of German immigrant Frederick Drumpf, who had arrived in New York on 19 October 1885 from Kallstadt via Bremen, a 16-year-old seeking to evade military conscription.

Drumpf initially settled in the Big Apple before relocating to Seattle and then moving on to the Yukon Territory to take part in the Klondike Gold Rush, where he operated restaurants serving horse meat and a string of brothels catering to itinerant miners venturing in from the cold.

Click here to watch weekly episodes of Housing Development Programme on AIT

A wealthy man, Frederick married Elizabeth Christ in 1902 and returned to New York where he worked as a hotel keeper and where their son Fred was raised in the Bronx.

Fred Trump started his first business venture at 15 in 1920, building garage extensions to existing houses as the automobile’s future at the heart of American life was becoming increasingly clear. Too young to sign the cheques, he became partners with his mother in Elizabeth Trump & Son. He built his first house two years after leaving high school.

Taking advantage of the Great Depression, when Franklin D Roosevelt’s government was doing all it could to bolster the construction and home financing industries, Fred Trump gradually grew his business throughout the 1930s to the 1950s by borrowing from the Federal Housing Authority and making influential friends among the Brooklyn Democratic Party.

READ MORE:  FG Appoints Adewole MD Family Homes Fund

His properties were “plain but sturdy brick rental towers, clustered together in immaculately groomed parks”, as his New York Times obituary put it, selling for $3,990 and spread across the low-income neighbourhoods of Coney Island, Bensonhurst, Sheepshead Bay, Flatbush and Brighton Beach in Brooklyn and Flushing and Jamaica Estates in Queens.

He also built apartments for servicemen in the Second World War in Pennsylvania and Virginia and foresaw the advent of supermarkets, building one of America’s first, the Trump Market at Woodhaven, New York, whose slogan was: “Serve yourself and save!”

Known for his thrift, one of Fred’s few luxuries was a Cadillac with a personalised “FTC” vanity plate (his son’s is “DJT”). Donald would recall in his ghost-written business manual The Art of the Deal (1987) that his father would roll up at construction sites after the working day was done and collect stray nails from the ground for his carpenters to use again the next morning.

He would also water down paint and manufacture his own disinfectant and cockroach spray to save cash, sending brand samples to labs to determine their ingredients.

What had cost $2 a bottle, he got mixed for 50 cents,” remembered his son.

Profiled by the trade magazine American Builder and Building Age in 1940, this side of his personality was revealed in depth: “Until last year he never had an office, and carried all his bookkeeping records around in his pocket. The ‘office’ he now has is a little structure of about 90 square feet of space in which the only occupant is a girl to write letters and answer the telephone. He still does most of his office work on the breakfast table at home.”

READ MORE:  Olajumoke Adenowo: Nigeria's Top Female Architect

That office, employee Richard Levy told The Times, was a former dentist’s practice in Beach Haven, Coney Island: “I felt like Custer… There were all these huge wooden Indians all over the place.’’

Fred Trump’s practices were seldom free of controversy. A hard-bitten and ruthless man, he would lie about his family heritage, saying his ancestors hailed from Sweden so as not to deter potential Jewish tenants and developed a reputation for turning away black applicants, frequently bringing him into conflict with indignant civil rights groups.

As a father, Fred had hoped his eldest son, Fred Jr, would follow him into the family business and was disappointed, scorning the boy and turning instead to Donald, the class prankster at school.

In The Art of the Deal, President Trump describes the lessons he absorbed from his old man: “I never threw money around. I learned from my father that every penny counts, because before too long your pennies turn into dollars.”

Perhaps more tellingly, he revealed: “I was never intimidated by my father, the way most people were. I stood up to him, and he respected that.”

Donald Trump’s relationship with Fred has often been characterised as combative and oedipal, with the son closer to his Scottish mother Mary McLeod, the inspiration behind his golf resorts in Ayrshire and Aberdeen.

Whereas Trump Sr was largely frugal, although he was vain about his dyed hair in old age, Donald was flashy and flamboyant, vowing to take Manhattan and enter the luxury apartment market, dreaming of building the world’s tallest tower with his name emblazoned on it before turning his eye to the Eastern Seaboard and the gaming tables of Atlantic City, New Jersey.

READ MORE:  NIA 4th Distinguished Lecture Series to celebrate Arc. Gabriel Aduku’s excellence in the Nigerian Architectural community

While Fred may not have shared his boy’s taste for ostentation, he approved of his ambition and did not hesitate to bail him out when his Taj Mahal Casino folly hit the rocks in 1991.

“When the Taj was sinking like Donald’s own private Titanic, Fred Trump rushed to the casino to buy $3.35m in chips to buoy his flailing child, who used the money to avoid default by making an interest payment he wouldn’t otherwise have had the liquid reserves to meet. A straight loan would have put Fred Trump in the lengthy queue of creditors. With his loan in the form of chips he could redeem it as soon as his son had the capital.

The New Jersey Casino Control Commission ruled a year later that Fred Trump had engaged in an illegal loan and that Donald should return it, which would have forced him into instant bankruptcy. The Trumps blithely ignored the finding and instead paid a meagre $65,000 fine, though the manoeuvre failed to save the casino.”


Previous ArticleNext Article

Leave a Reply

Your email address will not be published. Required fields are marked *

mersin escort bayan mersin escort bayan mersin escort bayan mersin escort bayan erotik film izle erotik film malatya escort bayan malatya escort bayan malatya escort bayan malatya escort bayan
mersin escort | mersin escort
Translate »
DIY Home Decor |



Eskort Mersin


Eskort Ankara


Eskort Bayanlar


eskişehir olgun

escort sakarya escort edirne escort kayseri escort konya escort ısparta escort bornova
Share via
%d bloggers like this:
Kıbrıs gece kulüpleri