Fred Trump and son, Donald Trump 1980. Starting in 1968, Trump was employed at his father Fred's real-estate company, Trump Management, which owned middle-class rental housing in New York City's outer boroughs. Photo by Bernard Gotfryd
Starting in 1968, Trump was employed at his father Fred's real-estate company, Trump Management, which owned middle-class rental housing in New York City's outer boroughs. In 1971, he became president of the company and began using the Trump Organization as an umbrella brand. 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. 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 by Fred Trump, who also, jointly with Hyatt, guaranteed a $70 million in bank construction financing. The hotel reopened in 1980 as the Grand Hyatt Hotel, 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. In 1988, Trump acquired the Plaza Hotel with a loan from a consortium of banks. The hotel filed for bankruptcy protection in 1992, and a reorganization plan was approved a month later.[60] In 1995, Trump sold the Plaza Hotel along with most of his properties to pay down his debts, including personally guaranteed loans, allowing him to avoid personal bankruptcy
Size: 4733px × 3158px
Location: New York City
Photo credit: © American Photo Archive / Alamy / Afripics
License: Royalty Free
Model Released: No
Keywords: 1980, 1980s, 1985, apertments, architectural, buildings, businessman, conservative, debt, developer, donald, estate, fathet, football, fred, generals, impeach, impeached, indicted, jersey, model, organization, president, queens, race, real, rich, son, team, trump, wealth, wing, york
