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I recently saw discussions about Trump's background and realized that his life story is truly worth paying attention to. This guy was born in 1946 in New York; his father was a German immigrant, and his mother was Scottish. However, he was completely restless and uninterested in studying when he was young, so at age 13, his parents sent him directly to a military school. Surprisingly, he did quite well there, with good grades, good relationships, and even became a student leader.
Speaking of Trump's education, he first attended Fordham University for two years, then transferred to the University of Pennsylvania's Wharton School of Business, majoring in real estate. During college, he spent every summer managing his father's company. After earning a bachelor's degree in economics in 1968, he immediately joined his father's real estate business. His educational background at Wharton seemed to have a significant influence on his later business mindset.
The story after graduation is even more interesting. In 1971, he took over the company, renamed it The Trump Organization, and began to make a big splash in real estate. In 1975, he bought a dilapidated hotel next to New York's Grand Central Station for $10 million, and within five years, he built the Hyatt Hotel, marking an important milestone in his real estate career. After that, his investments expanded into more areas—casinos, shipping, sports, entertainment—he played in all of them.
However, during the economic downturn in the early 1990s, he nearly went under. Real estate values plummeted, his personal assets dropped from $1.7 billion to $500 million, and he was saddled with nearly $4 billion in debt. But this guy stubbornly paid off his debts while continuing to invest. By 1994, he had paid off $900 million in debt, and in 1995, he took the Taj Mahal casino public, which was a kind of comeback.
Later, he also dabbled in beauty pageants, golf clubs, and real estate development. After being elected U.S. president in 2016, he announced he would step back from business to focus on politics. In recent years, due to the pandemic, his family group's income dropped nearly 40%, but in March 2024, his media group went public on NASDAQ, and his net worth surged by nearly $5 billion, entering the Bloomberg top 400 billionaires for the first time.
From military school to Wharton, from a real estate tycoon to near bankruptcy and back again, this guy's life is truly like a roller coaster. Now he's once again stirring up politics and media business—let's see how he plays it.