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Donald John Trump (born June 14, 1946) is an American politician, media personality, and businessman who served as the 45th president of the United States from 2017 to 2021.
Trump graduated from the University of Pennsylvania with a bachelor's degree in economics in 1968. He became president of his father's real-estate business in 1971 and renamed it the Trump Organization. He expanded its operations to building and renovating skyscrapers, hotels, casinos, and golf courses and later started side ventures, mostly by licensing his name. From 2004 to 2015, he co-produced and hosted the reality television series The Apprentice. He and his businesses have been plaintiff or defendant in more than 4,000 state and federal legal actions, including six business bankruptcies.
Trump won the 2016 presidential election as the Republican nominee against Democratic nominee Hillary Clinton while losing the popular vote.[a] During the campaign, his political positions were described as populist, protectionist, isolationist, and nationalist. His election and policies sparked numerous protests. He was the first U.S. president with no prior military or government service. The 2017–2019 special counsel investigation established that Russia interfered in the 2016 election to favor his campaign. Trump promoted conspiracy theories and made many false and misleading statements during his campaigns and presidency, to a degree unprecedented in American politics. Many of his comments and actions have been characterized as racially charged or racist and many as misogynistic.
As president, Trump ordered a travel ban on citizens from several Muslim-majority countries, diverted military funding toward building a wall on the U.S.-Mexico border, and implemented a policy of family separations for apprehended migrants. He weakened environmental protections, rolling back more than 100 environmental policies and regulations. He signed the Tax Cuts and Jobs Act of 2017, which cut taxes for individuals and businesses and rescinded the individual health insurance mandate penalty of the Affordable Care Act. He appointed Neil Gorsuch, Brett Kavanaugh, and Amy Coney Barrett to the U.S. Supreme Court. He initiated a trade war with China and withdrew the U.S. from the proposed Trans-Pacific Partnership trade agreement, the Paris Agreement on climate change, and the Iran nuclear deal. He met with North Korean leader Kim Jong Un three times but made no progress on denuclearization. He reacted slowly to the COVID-19 pandemic, ignored or contradicted many recommendations from health officials, used political pressure to interfere with testing efforts, and spread misinformation about unproven treatments.
Trump lost the 2020 presidential election to Joe Biden. He refused to concede defeat, falsely claiming widespread electoral fraud, and attempted to overturn the results by pressuring government officials, mounting scores of unsuccessful legal challenges, and obstructing the presidential transition. On January 6, 2021, he urged his supporters to march to the U.S. Capitol, which many of them then attacked, resulting in multiple deaths and interrupting the electoral vote count.
Trump is the only American president to have been impeached twice. After he tried to pressure Ukraine in 2019 to investigate Biden, he was impeached in December by the House of Representatives for abuse of power and obstruction of Congress; he was acquitted by the Senate in February 2020. The House impeached him a second time in January 2021, for incitement of insurrection, and the Senate acquitted him the next month. Scholars and historians rank Trump as one of the worst presidents in American history.[1][2]
Since leaving office, Trump has remained heavily involved in the Republican Party. In November 2022, he announced his candidacy for the Republican nomination in the 2024 presidential election. In March 2023, a Manhattan grand jury indicted him on 34 felony counts of falsifying business records. In June, a Miami federal grand jury indicted him on 37 felonies related to his handling of classified documents (with three charges added in July). In August, a Washington, D.C., federal grand jury indicted him on four felony counts of conspiracy and obstruction related to efforts to overturn the 2020 election. Later in August, a Fulton County, Georgia, grand jury indicted him for racketeering and other felonies committed in an effort to overturn the state's 2020 election results. Trump pleaded not guilty to all charges.
Personal life
Early life
Donald John Trump was born on June 14, 1946, at Jamaica Hospital in Queens, New York City,[3] the fourth child of Fred Trump, a Bronx-born real-estate developer whose parents were German immigrants, and Mary Anne MacLeod Trump, an immigrant from Scotland. Trump grew up with older siblings Maryanne, Fred Jr., and Elizabeth and younger brother Robert in the Jamaica Estates neighborhood of Queens, and attended the private Kew-Forest School from kindergarten through seventh grade.[4][5][6] At age 13, he was enrolled at the New York Military Academy, a private boarding school,[7] and, in 1964, he enrolled at Fordham University. Two years later, he transferred to the Wharton School of the University of Pennsylvania, graduating in May 1968 with a Bachelor of Science in economics.[8][9] In 2015, Trump's lawyer Michael Cohen threatened Trump's colleges, high school, and the College Board with legal action if they released Trump's academic records.[10]
While in college, Trump obtained four student draft deferments during the Vietnam War era.[11] In 1966, he was deemed fit for military service based upon a medical examination, and in July 1968, a local draft board classified him as eligible to serve.[12] In October 1968, he was classified 1-Y, a conditional medical deferment,[13] and in 1972, he was reclassified 4-F due to bone spurs, permanently disqualifying him from service.[14]
Family
In 1977, Trump married Czech model Ivana Zelníčková.[15] They had three children: Donald Jr. (born 1977), Ivanka (born 1981), and Eric (born 1984). Ivana became a naturalized United States citizen in 1988.[16] The couple divorced in 1990, following Trump's affair with actress Marla Maples.[17] Trump and Maples married in 1993 and divorced in 1999. They have one daughter, Tiffany (born 1993), who was raised by Marla in California.[18] In 2005, Trump married Slovenian model Melania Knauss.[19] They have one son, Barron (born 2006).[20] Melania gained U.S. citizenship in 2006.[21]
Religion
Trump went to Sunday school and was confirmed in 1959 at the First Presbyterian Church in Jamaica, Queens.[22][23] In the 1970s, his parents joined the Marble Collegiate Church in Manhattan, which belongs to the Reformed Church in America.[22][24] The pastor at Marble, Norman Vincent Peale,[22] ministered to the family until his death in 1993.[24] Trump has described him as a mentor.[25] In 2015, the church stated that Trump was not an active member.[23] In 2019, he appointed his personal pastor, televangelist Paula White, to the White House Office of Public Liaison.[26] In 2020, he said he identified as a non-denominational Christian.[27]
Health habits
Trump has called golfing his "primary form of exercise" but usually does not walk the course.[28] He considers exercise a waste of energy because he believes exercise depletes the body's energy "like a battery, with a finite amount of energy".[29] In 2015, Trump's campaign released a letter from his longtime personal physician, Harold Bornstein, stating that Trump would "be the healthiest individual ever elected to the presidency".[30] In 2018, Bornstein said Trump had dictated the contents of the letter and that three Trump agents had seized his medical records in a February 2017 raid on the doctor's office.[30][31]
Wealth
In 1982, Trump made the initial Forbes list of wealthy people for holding a share of his family's estimated $200 million net worth (equivalent to $606 million in 2022).[32] His losses in the 1980s dropped him from the list between 1990 and 1995.[33] After filing the mandatory financial disclosure report with the FEC in July 2015, he announced a net worth of about $10 billion. Records released by the FEC showed at least $1.4 billion in assets and $265 million in liabilities.[34] Forbes estimated his net worth dropped by $1.4 billion between 2015 and 2018.[35] In their 2021 billionaires ranking, Trump's net worth was estimated to be $2.4 billion (1,299th in the world).[36]
Journalist Jonathan Greenberg reported that Trump called him in 1984, pretending to be a fictional Trump Organization official named "John Barron". Greenberg said that Trump, speaking as "Barron", falsely asserted that he owned more than 90 percent of his father's business to get a higher ranking for himself on the Forbes 400 list of wealthy Americans. Greenberg also wrote that Forbes had vastly overestimated Trump's wealth and wrongly included him on the Forbes 400 rankings of 1982, 1983, and 1984.[37]
Trump has often said he began his career with "a small loan of one million dollars" from his father and that he had to pay it back with interest.[38] He was a millionaire by age eight, borrowed at least $60 million from his father, largely failed to repay those loans, and received another $413 million (adjusted for inflation) from his father's company.[39][40] In 2018, he and his family were reported to have committed tax fraud, and the New York State Department of Taxation and Finance started an investigation.[40] His investments underperformed the stock and New York property markets.[41][42] Forbes estimated in October 2018 that his net worth declined from $4.5 billion in 2015 to $3.1 billion in 2017 and his product-licensing income from $23 million to $3 million.[43]
Contrary to his claims of financial health and business acumen, Trump's tax returns from 1985 to 1994 show net losses totaling $1.17 billion. The losses were higher than those of almost every other American taxpayer. The losses in 1990 and 1991, more than $250 million each year, were more than double those of the nearest taxpayers. In 1995, his reported losses were $915.7 million (equivalent to $1.76 billion in 2022).[44][45][32]
In 2020, the New York Times obtained Trump's tax information extending over two decades. Its reporters found that Trump reported losses of hundreds of millions of dollars and had, since 2010, deferred declaring $287 million in forgiven debt as taxable income. His income mainly came from his share in The Apprentice and businesses in which he was a minority partner, and his losses mainly from majority-owned businesses. Much income was in tax credits for his losses, which let him avoid annual income tax payments or lower them to $750. During the 2010s, Trump balanced his businesses' losses by selling and borrowing against assets, including a $100 million mortgage on Trump Tower (due in 2022) and the liquidation of over $200 million in stocks and bonds. He personally guaranteed $421 million in debt, most of which is due by 2024.[46]
As of October 2021, Trump had over $1.3 billion in total debts, much of which is secured by his assets.[47] In 2020, he owed $640 million to banks and trust organizations, including Bank of China, Deutsche Bank, and UBS, and approximately $450 million to unknown creditors. The value of his assets exceeds his debt.[48]
Business career
Real estate
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.[49][50] In 1971, he became president of the company and began using the Trump Organization as an umbrella brand.[51] 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.[52]
Manhattan developments
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,[50] who also, jointly with Hyatt, guaranteed a $70 million in bank construction financing.[54] The hotel reopened in 1980 as the Grand Hyatt Hotel,[55] 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.[57][58]
In 1988, Trump acquired the Plaza Hotel with a loan from a consortium of banks.[59] 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.[61][62]
In 1996, Trump acquired the mostly vacant 71-story skyscraper at 40 Wall Street, later rebranded as the Trump Building, and renovated it.[63] In the early 1990s, Trump won the right to develop a 70-acre (28 ha) tract in the Lincoln Square neighborhood near the Hudson River. Struggling with debt from other ventures in 1994, Trump sold most of his interest in the project to Asian investors, who were able to finance the project's completion, Riverside South.[64]
Atlantic City casinos
In 1984, Trump opened Harrah's at Trump Plaza, a hotel and casino, with financing and management help from the Holiday Corporation.[65] It was unprofitable, and Trump paid Holiday $70 million in May 1986 to take sole control.[66] In 1985, Trump bought the unopened Atlantic City Hilton Hotel and renamed it Trump Castle.[67] His wife Ivana managed it until 1988.[68] Both casinos filed for Chapter 11 bankruptcy protection in 1992.[69]
Trump bought a third Atlantic City venue in 1988, the Trump Taj Mahal. It was financed with $675 million in junk bonds and completed for $1.1 billion, opening in April 1990.[70][71] Trump filed for Chapter 11 bankruptcy protection in 1991. Under the provisions of the restructuring agreement, Trump gave up half his initial stake and personally guaranteed future performance.[72] To reduce his $900 million of personal debt, he sold the Trump Shuttle airline; his megayacht, the Trump Princess, which had been leased to his casinos and kept docked; and other businesses.[73]
In 1995, Trump founded Trump Hotels & Casino Resorts (THCR), which assumed ownership of the Trump Plaza.[74] THCR purchased the Taj Mahal and the Trump Castle in 1996 and went bankrupt in 2004 and 2009, leaving Trump with 10 percent ownership.[65] He remained chairman until 2009.[75]
Mar-a-Lago
In 1985, Trump acquired the Mar-a-Lago estate in Palm Beach, Florida.[76] In 1995, he converted the estate into a private club with an initiation fee and annual dues. He continued to use a wing of the house as a private residence.[77] In 2019, Trump declared Mar-a-Lago his primary residence.[58]
Golf courses
The Trump Organization began building and buying golf courses in 1999.[78] It owns fourteen and manages another three Trump-branded courses worldwide.[78][79]
Trump visited a Trump Organization property on 428 (nearly one in three) of the 1,461 days of his presidency and is estimated to have played 261 rounds of golf, one every 5.6 days.[80]
Licensing of the Trump brand
The Trump name has been licensed for various consumer products and services, including foodstuffs, apparel, adult learning courses, and home furnishings.[81][82] According to an analysis by The Washington Post, there are more than 50 licensing or management deals involving Trump's name, and they have generated at least $59 million in revenue for his companies.[83] By 2018, only two consumer goods companies continued to license his name.[81]
Side ventures
In September 1983, Trump purchased the New Jersey Generals, a team in the United States Football League. After the 1985 season, the league folded, largely due to Trump's strategy of moving games to a fall schedule (when they competed with the NFL for audience) and trying to force a merger with the NFL by bringing an antitrust suit against the organization.[84][85]
Trump's businesses have hosted several boxing matches at the Atlantic City Convention Hall, adjacent to and promoted as taking place at the Trump Plaza in Atlantic City.[86][87] In 1989 and 1990, Trump lent his name to the Tour de Trump cycling stage race, which was an attempt to create an American equivalent of European races such as the Tour de France or the Giro d'Italia.[88]
From 1986 to 1988, Trump purchased significant blocks of shares in various public companies while suggesting that he intended to take over the company and then sold his shares for a profit,[44] leading some observers to think he was engaged in greenmail.[89] The New York Times found that Trump initially made millions of dollars in such stock transactions, but later "lost most, if not all, of those gains after investors stopped taking his takeover talk seriously".[44]
In 1988, Trump purchased the Eastern Air Lines Shuttle, financing the purchase with $380 million (equivalent to $940 million in 2022)[32] in loans from a syndicate of 22 banks. He renamed the airline Trump Shuttle and operated it until 1992.[90] Trump defaulted on his loans in 1991, and ownership passed to the banks.[91] The airline was eventually sold to US Airways.[90]
In 1992, Trump, his siblings Maryanne, Elizabeth, and Robert, and his cousin John W. Walter, each with a 20 percent share, formed All County Building Supply & Maintenance Corp. The company had no offices and is alleged to have been a shell company for paying the vendors providing services and supplies for Trump's rental units, then billing those services and supplies to Trump Management with markups of 20–50 percent and more. The owners shared the proceeds generated by the markups.[40][92] The increased costs were used as justification to get state approval for increasing the rents of Trump's rent-stabilized units.[40]
From 1996 to 2015, Trump owned all or part of the Miss Universe pageants, including Miss USA and Miss Teen USA.[93][94] Due to disagreements with CBS about scheduling, he took both pageants to NBC in 2002.[95][96] In 2007, Trump received a star on the Hollywood Walk of Fame for his work as producer of Miss Universe.[97] NBC and Univision dropped the pageants from their broadcasting lineups in June 2015.[98]
Trump University
In 2004, Trump co-founded Trump University, a company that sold real-estate training courses priced from $1,500 to $35,000.[99] After New York State authorities notified the company that its use of the word "university" violated state law (as it was not an academic institution), its name was changed to the Trump Entrepreneur Initiative in 2010.[100]
In 2013, the State of New York filed a $40 million civil suit against Trump University, alleging that the company made false statements and defrauded consumers.[101] In addition, two class actions were filed in federal court against Trump and his companies. Internal documents revealed that employees were instructed to use a hard-sell approach, and former employees testified that Trump University had defrauded or lied to its students.[102][103][104] Shortly after he won the 2016 presidential election, Trump agreed to pay a total of $25 million to settle the three cases.[105]
Foundation
The Donald J. Trump Foundation was a private foundation established in 1988.[106][107] In the foundation's final years, its funds mostly came from donors other than Trump, who did not donate any personal funds to the charity from 2009 until 2014.[108] The foundation gave to health-care- and sports-related charities, as well as conservative groups.[109]
In 2016, The Washington Post reported that the charity committed several potential legal and ethical violations, including alleged self-dealing and possible tax evasion.[110] Also in 2016, the New York Attorney General determined the foundation to be in violation of state law for soliciting donations and ordered it to immediately cease its fundraising activities in New York.[111] Trump's team announced in December 2016 that the foundation would be dissolved.[112]
In June 2018, the New York attorney general's office filed a civil suit against the foundation, Trump, and his adult children, seeking $2.8 million in restitution and additional penalties.[113][114] In December 2018, the foundation ceased operation and disbursed its assets to other charities.[115] In November 2019, a New York state judge ordered Trump to pay $2 million to a group of charities for misusing the foundation's funds, in part to finance his presidential campaign.[116][117]
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