I just got into an argument with my husband about Donald Trump. He thinks he is AMAZING and I think he is lucky in business. While he has had success he has taken several businesses to the point of bankruptcy. Does anyone have any facts either way? Thanks.
2007-01-03 14:39:02 · 12 answers · asked by Toto 2 in Beauty & Style ➔ Hair
Fact: Multimillionaire Harv Eker (author of the Secrets of the Millionaire Mind) always cites Trump in his seminars as an example of someone who has a "financial thermostat" that keeps his thinking focused on big business opportunities, and that convinces him that he is worthy of being a billionaire.
Fact: Trump owed two billion dollars in the early 90s, yet came back a few years later as rich as he was before.
The truth is, most people are poor because they despise (are jealous?) of rich people. There is really no luck in business. If a person works hard at creating solutions, he or she will succeed all the time.
Trump himself says in the current issue of Fortune magazine that his secret is that he's "obsessed about solutions."
His wealth is only a natural result of this craving for creating solutions.
Many people might say that he's a "human failure," but this is just envy and jealousy, because the FACT is, he's a good father who got his two kids (Ivanka and Don Jr) through the MBA program at Wharton, one of the most prestigious business schools in America.
Another fact is that he created an incredibly popular TV show, that he also produces, called The Apprentice, that inspires people to go for their dreams.
2007-01-03 21:22:10 · answer #1 · answered by superscribe 4 · 0⤊ 2⤋
There is no such thing as luck in the world of Business.
Donald Trump is broke.
Like the United States of America, everybody thinks it's the richest country in the World but in reality they are poorer than Nigeria.
Nigeria at least has Oil to sell.
If you have a $1 Billion Casino in Las Vegas but you borrowed $3 Billion to build it then you really don't have anything.
You see.
You can take a look at Donald Trump's "wealth" and in theory he has a nice $100,000,000.00 USD house but he borrowed $50,000,000.00 USD against his house and he used that money to build another house in Honolulu which will be built in 2009 and after that house is finished then he will borrow more against that house to build another and so on.
Not a bad deal until you actually sell your Honolulu house.
You cannot sell it if the bank has the papers. Therefore you have to pay the bank first and then sell it at a profit.
Unfortunately for Donald, sometimes you cannot sell at a high price and you cannot hold your house because the interest is still going every month and that's when you lose the money you made in the last three years.
Donald was forced to sell himself to Pizza Hut for $1,000,000.00 and then for $3,000,000.00 to Domino's Pizza for a few commercials.
He also made a Visa Commercial for $5,000,000.00
He was unemployed and with a lot of debt a few years ago and he took a job at General Electric for only $50,000.00 per episode for the wildly popular TV show "The apprentice"
In the second season he got a better deal at $3,000,000.00 per episode but still not enough to pay his debts.
Billionaires do not make commercials.
He currently has less than 30% in their Casinos.
There are a gazilion Trump Buildings all over the World.
Most are owned by Asian Investors. He just gets a fee for his popular name.
Donald Trump IS NOT A ROLE MODEL.
I suggest you to buy a biography about Donald Trump and give it to your husband.
Just don't buy an autobiography!
2007-01-03 14:56:47 · answer #2 · answered by Anonymous · 2⤊ 3⤋
the donald is a king. anyone who understands the world of high finance can examine why someone who borrows the grand amounts that mr. trump does may need to satisfy calls during troubled economic times. it is not necessarily fault of donald trump. he thinks big and takes on risk to deliver big projects. he is more succesful than most who stick their necks out. he is unique. oh, and there are plenty of lower profile but just as wealthy risk takers that have blown their net worth up and come through. read Den of Thieves.
2007-01-03 14:43:21 · answer #3 · answered by Hushyanoize 5 · 0⤊ 0⤋
I do think it's obvious Donal Trump is a success in the business world, but I'm afraid he's too tied up in his business to be a human.
2007-01-03 14:41:58 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Donald Trump came form nothing. His father was an irish immigrant. if hes a billionare now then he was obviously a huge success
2007-01-03 14:41:14 · answer #5 · answered by Anonymous · 1⤊ 1⤋
I think some of his businesses did go into bankruptcy, but I don't think he was only owner of those businesses(so part owner) and some have emerged out of bankruptcy. You can really say that about lot of other big businesses on 'luck.' I wouldn't jump to quick conclusion on how he came to be a billionare based on bunch of one liners from TV.
2007-01-03 14:46:43 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Some of you guys got it all wrong. Guys is rich big time. He invest in some company that started out from crap and after 9/11..... the doors open and the company's grew. He profit a lot from it. There's more also but I think the people above me already stated it.
2007-01-03 23:26:09 · answer #7 · answered by Anonymous · 0⤊ 1⤋
You may not like him, or agree with his methods, but he is a huge success. Example: How many buildings or golf courses do you or I own, with our names on them? What about "The Apprentice"? How many TV shows have we hosted? He charges thousands of dollars, and people actually pay him, to hear his advice about business. He's willing to take large risks for the possibility of even larger rewards, something most of us would never do.
2007-01-03 14:44:39 · answer #8 · answered by mvsopen 3 · 2⤊ 1⤋
Donald Trump is HUMAN failure
2007-01-03 14:40:18 · answer #9 · answered by Sean D 2 · 1⤊ 3⤋
In that example - yes. If my motorcycles front wheel had a 93% success rate of staying on the bike - I would not.
2016-03-29 06:46:18 · answer #10 · answered by Anonymous · 0⤊ 0⤋