Donald Trump had the one thing that prepares you to become a rich man

Donald Trump had the one thing that prepares you to become a rich man

A RICH DADDY Fred Trump had a pretty good start too with an immigrant father who was an real entrepeneur and real estate investor.  After his father died in the 1930’s the teenage Fred took a modest inheritance that kept the family solvent during the depression and started a real estate development company.  10 years later he was in the right situation when thr government set things in high gear by insuring mortgages under the GI Bill.  During the housing boom of the 59’s and 60’s Fred amassed a fortune of $200 million (about 41 billion in current $$$) with residential development in Queens and Brooklyn Donald was thr product of private schools and the connections they provide After learning the business in his father’s company, The Donald decided to take on Manhattan.  New York City had jusy come through a bad economic time when they had to be bailed out by the Federal government.  Many areas in Manhatten were run down with prewar buildings falling into disrepair.  The city was offering special loans and tax abatements to developers who would come in and rehab large properties.  Donald Trump was there wwith his fathers name and connections to pick up this corporate welfare His first venture was with Hyatt and he decided to organiize the next deal to be all Trump.  The Trump Tower was an egomaniac dream.  It was billed as the glitziest building in New York and became a tourist.  Although it makes a profit the return was much less than the investors expected.  His next project which was supposed to be the biggest and fanciest building fell through so Donald turned to Atlantic City and gambling In bringing the money together for the casino Trump used some pretty shady practices but at that time nobody believed you could LOSE money on a casino.  The ultra lavish casino opened but without enough cash to cover operating expenses.  Soon the casino was in dangsr of defaulting on loan payments and the banks were within days of foreclosure,  Fred gave Donald $3 million to hold off the bankers.  At that point Donald had a negative net worth of $300 million.  It became obvious the only way creditors would get any money was restructuring not bankruptcy.  Donald was forced to cut back on his excesses and sell corporate assets that the Trumps were treating as personal property.A few years later as the casino started making enoug money to dig itself out of financial troubles, Trump took all the credit.  In reality it was the economy that was making all the casinos better off.  The stories were planted everywhere and when you hear something over and over people believe it. But the big money men knew the truth and the Trumpification of Manhatten faded away.  Tday Trump earns by putting his name on other peoples' product.  He was the emcee on a reality show conceived & produced by others, he purchased the rights to a fading beauty contest and stripped away any part of the spectacle that had dignity.  The Donald has sold his name to a menswear line.  He is paid to spread the myth that everyone can become millionaires by buying his ghostwritten books.  He even sells beef via home shopping shows.  Lately it seems the only way he way he can feed his ego and keep his name in the news is by insulting people randomly in the hope of stirring up a public feud, The Donald increased his family wealth on the backs of others including the taxpayer. He has always been a narcissist but he seems to be approaching megalomania in his belief that he is the smartest most business savvy man in the world