Showing posts from August, 2015

How to build a lasting family fortune

You may have heard that Donald Trump, the billionaire real estate developer, has decided to run for the President of the United States of America. Beside his undisputed success in the real estate world, Donald Trump also boasts an impressive track record as a businessman, investor, and reality television star. Admittedly, his skills in influencing people, negotiation and cutting deals are second to none. However, I was more keenly interested in how he got started, and how he had the money to go into real estate development, which is extremely capital intensive. Therefore I did some research on his background. Donald’s life might have been very different if not for the financial support and tutelage from his father, Frederick “Fred” Trump, who born in in 1905 in Queens, New York City to German immigrants. Fred was also an entrepreneur and real estate developer, and this rubbed off on young Donald, who wanted to follow in his father’s footsteps. By the time of his death, Fred Trump