Everyone knows Donald trump as the former us president but not so many know him as a businessman. So in this post we will discuss Trump’s entrepreneurship skill and see if he was initially successful as a businessman before diving into politics. We will equally discuss his business career and how he managed to become a president.
Is Donald Trump A Genius Or A Businessman?
There is a two-way answer to this question because Trump appears as a genius and not-too-intelligent at different points in time.
It won’t be out of place to say that Donald Trump is a genius businessman considering that the Trump Organization still thrives despite going bankrupt on different occasions.
The fact that his company endured the difficult times and remains a force to reckon with deserves some accolades and praises.
Talking of bankruptcy, one of Trump’s companies, the Trump Taj Mahal Casino resort, entered bankruptcy in early 1991. The firm couldn’t generate sufficient revenue to cover the cost of the building and facilities, no thanks to the recession in the country at the time.
Trump Castle Hotel and Casino also entered bankruptcy in 1992, while Trump Plaza Casino suffered the same fate a few months later. Plaza Hotel became Trump’s third company to go bankrupt before the fiscal year ended.
When we thought the hard times were over, the Trump Hotels and Casino Resort entered into bankruptcy in 2004. The Trump Entertainment resorts endured a similar disappointing period in 2009.
Trump’s decision to explore the US chapter 11 bankruptcy law to save the firms is a laudable decision only a business genius can take. Therefore, it is safe to say that trump was a genius businessman then.
However, the other side of the answer is based on critics’ opinions and a popular New York Times report. Many critics believe only a reckless and inexperienced businessman would allow three of his companies to go bankrupt in a business year.
They believe the former US President was reckless and his managerial skills weren’t good enough.
Likewise, a report from the New York Times claimed that Trump and other members of the Trump Organization practiced the “Sham Financial Scheme” to avoid paying millions of dollars in taxes on their real estate firms.
Considering the tax fraud and six bankruptcies, it is obvious Trump needs to improve his game as an administrator and a businessman because he is not genius enough to occupy the well-coveted CEO position.
Donald Trump’s business career
As mentioned earlier, Donald Trump was a businessman before diving into politics to pursue his presidential ambition which he eventually achieved in 2017 after he dethroned Barrack Obama.
Donald Trump’s business career started in his father’s company— Trump Management. The renowned real-estate developer became a household businessman in the country after sealing numerous high-profile deals in Manhattan.
His rise to prominence as one of the best real-estate moguls in the country increase tremendously in the 1980s; when he successfully licensed his name to various hotels, casinos, residential properties, and golf courses in New York City.
He eventually became the leader of his father’s company a few years later and he renamed it “The Trump Organization.”
He didn’t limit himself to the housing industry; he dived into the fashion and lifestyle industry by investing in some beauty pageants between 1996 and 2015.
Meanwhile, the hard-working Trump ensured that the Trump Organization became a successful private conglomerate with 500 companies across different sectors like hotels and resorts, residential properties, merchandise, entertainment, and television. Endeavour to click here to read more on Trump’s life and history.
How Many Businesses Does Trump Currently Own?
The Trump organization is a conglomerate consisting of 500 companies. 250 of the companies are registered in his name while others carry his father’s name and other members of the company.
Though the Trump Organization was founded by Donald Trump’s paternal grandmother in 1927, the former US President is now the legal and principal owner. Hence, it won’t be out of place to say that Donald Trump currently has 500 companies and businesses under his care.
The companies are involved in different sectors, including construction, real estate development, entertainment, hospitality, retail, online shopping, and Investments.
Meanwhile, the top 5 businesses owned and controlled by Donald Trump are Trump National Doral (Golf Resort), Trump Old Post Office LLC, trump Ruffin Tower LLC, Trump Turnberry, and Mar-a-Lago.
Does Donald Trump Have Business In China?
Donald Trump’s feud with the Chinese government during his regime as the US president was well documented because the crisis between the two world’s largest economies affected global business in one way or the other.
Surprisingly, Donald Trump desired to have licensing deals with many Chinese business moguls in the Asian country before becoming the American President.
Trump’s associate companies have benefited from business deals in foreign countries, including the Chinese States. He forged strong partnerships with government-owned Chinese companies before his election into office.
The politician reportedly owns a Chinese account where he earns a specific amount of money annually.
Though Trump doesn’t have a firm physically situated in China, his products are exported to the many Chinese province and other parts of the world to sell.
This explains why many goods, products and facilities in China feature Trump’s trademark. This means the former US President is doing business in China and he is making money from his Chinese customers.
How much money did Donald Trump inherit?
It is no longer news that trump inherited his paternal grandmother’s business known as the Trump Management. However, what most people don’t know is the company’s net worth when he took over from his dad.
You should know that the company’s revenue isn’t Trump’s only source of wealth. His father, Fred Trump, reportedly gave him $413 million in 2018 to support the business, his political career and other ventures.
In the same vein, the New York Times reported that Fred created 295 different sources of income and revenues that will enrich his son’s pocket in the future.
In a nutshell, Donald Trump inherits nothing less than $430 million from his dad apart from the inherited company.
Meanwhile, he also received a huge amount of money through trust fund programs in 1980 and 1981. We can’t end this section of the article without telling you that Donald Trump’s estimated net worth in 2022 is $3 billion, according to Investopedia.
Do high IQ individuals support Donald Trump?
As much as no high-IQ person publicly declared support for Donald Trump, we can’t completely rule out the possibility of that happening considering Trump’s fame and position as the world’s president.
Some high IQ and influential business people must have shown him love and supports in the past, even if it is done secretly.
Having read everything, do you think Donald Trump is a genius businessman or not? Feel free to tell us what you think about the highly-criticized and much-maligned ex-president in the comment section below