Washington, United States

Donald Trump, the Republican candidate for the Presidential elections to be held in the United States on November 5 is a well known media personality and businessman who served as the 45th president of the country from 2017 to 2021. His Trump Organization is one of the biggest luxury real estate development company which holds much of his fortune.

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Trump Organization 

The Trump Organization, a conglomeration of several companies deals in a wide range of businesses, including hotels and resorts, residential properties, merchandise, and entertainment and television. Trump Organization entities also operate hospitality, casinos and golf courses.

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The company came into being in 1974 after Trump's father Frederick (Fred) Christ Trump, a successful real estate developer, who developed low-cost housing in Brooklyn and Queens made his son Donald Trump the president of his company, who named it the Trump Organization.

After taking over the company, Trump began to invest in luxury hotels and residential properties in Manhattan, Atlantic City and New Jersey, which led to an exponential growth for the Trump Organization in the late 1970s and 1980s.

In 1983, Trump in partnership with the Equitable Life Assurance Company opened a 58-storey building on 56th Street and Fifth Avenue called the Trump Tower that housed an office, retail, and residential complex. This building later contained Trump’s Manhattan residence and the headquarters of the Trump Organization.  

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Properties developed by Trump during the 1980s in Manhattan include the Trump Plaza residential cooperative (1984), the 19-storey Plaza Hotel, a historic landmark for which Trump paid a whopping $400 million and the Trump Parc luxury condominium complex.

When the U.S. economy faced recession in 1990, many of Trump’s businesses suffered, including his real estate company the Trump Organization. Most major banks refused to do any further business with him and his net worth dropped drastically. However, Trump’s fortunes rebounded with the stronger economy of the later 1990s.

(With inputs from agencies)