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Categories: Politics

DONALD TRUMP :- USA PRESIDENT

Donald John Trump ( Eng.  Of Donald the John the Trump;. Born 14 June 1946 the year , Jamaica , Queens , New York , USA ) – Americanstatesman, politician , businessman , acting President of the United States of America to January 20 2017 the year [9] [ 10] .

In the past – an entrepreneur (mainly in real estate ), a showman and TV presenter [11] [12] [13] . The man of the year according to the Timemagazine (2016) [14] . From 1971 [15] to 2017 [16], Donald Trump was the president of the Trump Organization construction conglomerateand the founder of the gambling and hotel business Trump Entertainment Resorts [11] . In 1996-2015, he was the owner of the Miss Universe beauty pageant . Appeared as a cameoin a number of movies and television series . In addition, Donald Trump was the executive producer and for 14 seasons (2004-2015) was a leading reality show “candidate” on the TV channelthe NBC “. Since the 1988 presidential election, Donald Trump has been seen as a potential candidate for president of the United States in almost every election [17] . In October 1999, he declared himself a potential candidate from the Reform Party for the presidency of the United States [18] , but on February 14, 2000, withdrew from the election [19] . Announces Fight for Next US PresidentJune 16, 2015 [20] . In May 2016, having outstripped all rivals in the primaries , he virtually guaranteed himself to be nominated as a single candidate from the Republican Party [21] . It was officially approved at the party congress held on July 18-21 of the same year. He became the second-ever candidate for president of the United States from two major parties, who were originally known primarily as a businessman and did not hold any government posts (the first was Wendell Wilkie in 1940 ) and the first such candidate to win the election.

In the presidential election on November 8, 2016, Donald Trump defeated the Democratic candidate Hillary Clinton , gaining 306 electoral votes (56.88%) [22] .

At the age of 70, Donald Trump became the oldest first elected president of the United States , which broke the record of Ronald Reagan , who took this post at 69 years old. Trump is also the first president of the United States, who did not hold any other state or military post before entering the White House . In addition, Donald Trump is the richest person who took office as president. In addition, Donald Trump is the fifth president who was elected with fewer votes than the loser [23] .

According to Hogan Gidley, deputy spokeswoman for the White House, [24] Donald Trump intends to run for president again in 2020.

In May 2018, 18 Republican congressmen signed a letter of appeal to the Nobel Committee, which proposed Trump to be awarded the 2019 Nobel Peace Prize for his efforts to resolve the Korean issue [25] .

Donald John Trump was born on June 14, 1946in the Jameika area ( Borough Queens ) in New York .

Donald Trump’s father is Fred Christ Trump(10/11/1905, Woodhaven, New York , USA  – 06/25/1999).

Donald Trump’s mother – Mary Ann MacLeod (05/10/1912, Tong, Stornoway , Isle of Lewis , Scotland  – 08/07/2000); in 1930, at the age of 18, she went on holidays to New York, where she met a local builder and stayed. The wedding took place in 1936.

Donald Trump’s grandfather and grandmother on the father’s side were German immigrants : Frederick Trump (née Friedrich Trump, 03/14/1869, Kalstadt , Rhineland-Palatinate  – 03/30/1918) immigrated to the United States in 1885, received citizenship in 1892; his wife, Elizabeth Christ (10/10/1880 – 06/06/1966) [26] . Married in Kalstadt, Rhineland-Palatinate, in 1902.

Donald Trump has two brothers and two sisters – Fred Jr. (now deceased), Robert, Marianne and Elizabeth. His older sister, Marianne Trump-Barry, is a judge of the federal court of appeals and mother of David Desmond, a well-known neuropsychologist and writer in the United States .

Trump attended the Kew Forest School in Forest Hills , Queens , at the age of 13 he encountered difficulties. Parents sent him to a private boarding school “New York Military Academy” in the hope of channeling his energy and self-confidence in a positive direction [27] . It worked: Trump attended an academy in upstate New York , he received academy awards, played football teams in 1962 and 1963, and also a baseball team in 1962-1964 (he was team captain in 1964). Baseball coach Ted Dobias, known for his disinterested work with children, awarded him the Coach Award in 1964.

Promoted to the rank of cadet captain S4 (cadet battalion foreman), in their fourth year of training, Trump and cadet first sergeant Jeff Donaldson (1965) (cadet at a military school at West Point , 1969) organized a collective company of cadets, training them in advanced combat training closed systems, and marched on Fifth Avenue in the armistice Day in 1964.

In his book, The Art of Making Deals , Trump talks about his student career:

After graduating from the New York Military Academy in 1964, I was thinking about entering a film school … but in the end I decided that real estate was a more profitable business. I began to study at Fordham University … but after two years I decided that studying at college is the same for me as if I had not studied at all. So I applied to the University of Pennsylvania Wharton School of Business and did … I was so happy when I graduated. I immediately went home and started working with my father.

He graduated from the Wharton School of Business in 1968 with a bachelor of science degree in economics and a major in finance [11]. His father’s company was a leader in real estate.Trump began his career in the company of his father and first concentrated on the area that his father preferred – renting houses for middle-class people in Brooklyn , Queens and Staten Island . One of the first projects of Donald (he was still in college) was the modernization of the Swiftton Village, a non -redeemable 1200-apartment complex in Cincinnati , Ohio : 66% of apartments were not rented out, and Trump decided to implement thanks to his project 100% throughout the year.
In 1971, Trump moved to Manhattan . Here he saw the economic opportunities of the city, especially in terms of large construction projects in Manhattan, which assumed high profits due to architectural design, which contributed to public recognition. At first, Trump began to seek the right to build up old Pennsylvania-based central stations on the West Side , subsequently with a 40-year tax credit – financially exceeded by the New York government , which decided to give a tax credit in exchange for investments during the financial crisis that became bankrupt hotel “Commodore” to make it a new hotel “Grand Hyatt” [28] .
Trump was also involved in the construction of the Jacob Javits Convention Center, since the land on which he was built belonged to him. The construction of the Jacob Javits Convention Center “pushed” Trump with the New York government: he estimated this project at $ 110 million, while the city’s calculations showed a figure from $ 750 million to $ 1 billion. Trump proposed to control the cost of the project within the amount that it turned out with him, but this proposal was not accepted [29] .
A similar situation arose when the city tried to reconstruct the Wallman-Rink rink in Central Park . The project began in 1980 and was designed for 2.5 years of construction work. However, having spent 12 million on it, the city never completed it even by 1986. Trump offered to accept the facility under construction free of charge in order to continue work for his own money, but he was refused and did it until the local media began to write about it. As a result, Trump received a building permit, which he completed in six months, while saving 750 thousand of the budgeted 3 million [30] .

Financial problems (1989-1997)

By 1989, due to the financial crisis, Trump was unable to repay the loans. He invested $ 1 billion in the construction of his third Trump Taj Mahal , mostly with high-interest junk bonds. This decision gave him an advantage over competitors who used most of their own money to finance their projects. Despite the fact that Trump strengthened his business’s position with additional loans and deferred interest payments, by 1991 increasing debts not only caused bankruptcy related to the business, but also put him on the verge of personal bankruptcy. Banks and bondholderslost hundreds of millions of dollars, but still decided to restructure Trump’s debt in order to avoid an even greater waste of money in court. Trump Taj Mahal casino was released from bankruptcy on October 5, 1991, when Trump transferred 50% of its stake to the original bondholders in exchange for a reduced interest rate on the debt and an increase in the time for payments [31] .

On November 2, 1992, the management of the Trump Plaza Hotel, Atlantic City, forced Trump to file a “prepared bankruptcy” protection plan under Chapter 11 of the US Bankruptcy Code after he was unable to pay the debt. Under the plan, Trump agreed to cede 49% of his stake in the five-star Citibank Hotel and five other lenders. In turn, Trump received more than favorable conditions for repayments on loans taken from lenders for more than $ 550 million and retained his position of executive director despite the fact that he did not pay anything and did not take any part in the hotel [32] .

By 1994, Trump liquidated most of his personal debt of $ 900 million [33] and significantly reduced debt in business – about $ 3.5 billion. Along with the fact that he was forced to abandon the Trump Shuttle airline (which he bought in 1989), he managed to keep Trump Tower in New York and remain the manager of three casinos in Atlantic City . Chase Manhattan Bank, which provided Trump with a loan to buy Westside sites (its largest share in Manhattan ), was forced to sell this part to Asian developers. According to former Trump Organizationexecutives, Trump did not retain his ownership of any of the construction sites: the owners promised to give him about 30% of the profit (only once) for the construction site, which will be fully completed or sold. Until that time, the owners wanted Trump to continue to do what he knows best – to build. They offered him a modest salary for construction and management – building control. The new owners also allowed Trump to use his name on buildings and construction sites, and this allowed them to increase the price of condominiums.

In 1995, Trump was elected to the Gaming Hall of Fame [34] . In the same year, Trump merged his casinos into Trump Hotels & Casino Resorts, an open joint stock company. In 1996, Wall Street ‘s stock prices exceeded $ 35, but already in 1998 fell below $ 10, as the company remained unprofitable and barely managed to pay interest on a nearly $ 3 billion debt. With such a difficult financial situation, Trump was not able to rebuild the objects included in the group so that they did not lag behind their “glossy” competitors.

In the end, October 21, 2004 Trump Hotels & Casino Resorts announced a debt restructuring [35] . The plan obliged Trump to reduce his stake from 56% to 27% and give shares to the bondholders in exchange for canceling part of the debt. Since that time, Trump Hotels has been forced to seek protection against voluntary bankruptcy in order to stay afloat. After the company turned to Chapter 11 of the United States Bankruptcy Code in November 2004 , Trump resigned as CEO, but remained chairman of the board. In May 2005 [36], the company began working again, but under the name Trump Entertainment Resorts Holdings [37] .Trump worked on several projects, the development stages of which are different.
The construction of the International Hotel. According to Trump, buyers made non-refinancing contributions to immediately buy space as soon as possible.
The construction of the International Hotel- Chicago building continues as planned, despite the fact that 30% of the space was not sold.
The stages of the construction of the International Hotel and Trump Tower – Toronto building have a schedule lag.
The successful construction of the Trump Tower Tampa building is rather doubtful: too much demand has sparked controversy over the upward revision of floor space prices. Three years after the start of this dubious construction, it was suspended, as a result of which the buyers filed lawsuits.
In Fort Lauderdale , Florida , one construction project kept waiting for the approval of another – the construction of the International Hotel and Trump Tower – Fort Lauderdale building.
which has the second position in the National Register of Unsold Houses [38] .
In the 2000 presidential election, he participated in primaries from the Reform Party. He won the primary elections in the states of Michigan and California . Oprah Winfrey nominated Vice President . The cabinet also planned to include Colin Powell and John McCain . Then he left the election race [39] .
2008 financial crisis
The financial crisis of 2008 caught Trump at a time when sales at the International Hotel and the Trump Tower of Chicago stopped, and therefore he was unable to repay a $ 40 million loan to Deutsche Bank in December [40] . Trump filed a lawsuit with the court about his injured reputation, where he indicated that the crisis is a force majeure , which is mentioned in the corresponding paragraph of the agreement signed by him [40] . Representatives of Deutsche Bank, in turn, said in court that “Trump knows about past due debt” and that he had previously declared bankruptcy of his casinos twice [40] .
On February 17, 2009, Trump Entertainment Resorts management filed a lawsuit under Chapter 11 of the US Bankruptcy Code , and Donald Trump made a statement stating that he was leaving the Board of Directors [41] .
In November 2013 Donald Trump was in Moscow , which hosted the contest ” Miss Universe 2013 ” (that Trump since 1996 owns the rights to the annual contest “Beauty Miss Universe ” [42] ). He stated that he was pleased with the organization of the contest and noted the contribution of Araz and Emin Agalarov, businessmen (he congratulated the latter on “excellent singing”). Trump also said that he was going to build a skyscraper in Moscow – an analog of New York’s business center ” Trump Tower ” [43] .

Sumit Kumar

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Sumit Kumar

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