Developing story: Some details below haven't been independently confirmed. We'll update as new reporting comes in.

Donald Trump: The Business Empire Behind Trump Organization

In 1968, in New York City, Donald Trump joined his father Fred Trump's real estate company, Trump Management.[5]

1971

Trump took control of the family business at age 25.[5] He renamed it the Trump Organization around 1973 or 1974.[3] The company focused on middle-class rental housing in the outer boroughs.[5] Trump shifted operations toward Manhattan.[3] He secured financial support from banks and political connections from city officials.[3] Workers demolished older structures and renovated landmark buildings.[3] The Trump Organization grew into luxury real estate, hospitality and development.[2] Projects included skyscrapers, golf resorts, hotels and residential towers.[1]

1980s

Trump built towers along Fifth Avenue.[3] He drew attention from New York tabloids.[3] Coverage filled pages with stories of deals, marriages and feuds.[3] The publicity shaped his image as a dealmaker.[3] In 1984, Trump opened Harrah's at Trump Plaza casino in Atlantic City.[2] Holiday Corp. provided the financing.[2] The next year, in 1985, he bought the property from Hilton Corporation and turned it into Trump Castle hotel and casino.[2] Patrons filled the gaming floors and hotel rooms.[3] Trump licensed his name to lodging and golf course operations around the world.[3] Builders paid to attach the Trump brand to their projects.[3] Products carried the name, from ties to steaks.[3]

1988

Trump bought the Plaza Hotel in Manhattan for $400 million.[1] Ivana Trump oversaw its daily operations.[1] Guests checked into suites overlooking Central Park.[3] Staff managed events in ballrooms and restaurants.[3] The acquisition marked another step in the organization's reach into high-end hospitality.[2] Trump appeared on magazine covers and talk shows.[3] His comments on business and politics drew quotes in daily papers.[3]

June 1990

Trump faced a cash shortage.[5] He owed $3.4 billion across loans for casinos, the Plaza Hotel and the yacht.[5] Banks pressed for payments.[5] Revenues from Atlantic City properties fell short.[5] Trump filed for bankruptcy on several entities.[5] Lenders restructured debts.[5] The moves kept the core business intact.[5]

October 1991

The Trump Taj Mahal casino exited bankruptcy.[2] Trump gave up 50 percent ownership to bondholders.[2] The property reopened with slots, tables and shows.[3] Trump held onto stakes in other casinos.[3] He served as chairman of Trump Entertainment Resorts from mid-1995 until early 2009.[3] From mid-2000 to mid-2005, he acted as chief executive officer.[3] After restructurings, Trump kept 10 percent ownership in the Taj Mahal and other properties.[3] Gamblers returned to the boardwalks.[3] The organization expanded golf courses in Scotland and Ireland.[6] Hotels opened in Chicago and Las Vegas.[6]

2004

Trump starred in the reality television show The Apprentice.[3] Viewers watched contestants compete for a job in his company.[3] He delivered the line "You're fired" to losers.[3] The program aired for 14 seasons.[3] Ratings climbed in early years.[3] The exposure boosted the Trump brand.[3] Licensing deals followed for international towers and resorts.[3]

2017

Trump won the presidential election in November 2016.[5] On January 11, 2017, days before his inauguration, he stepped back from the Trump Organization.[1] He placed assets into a revocable trust managed by his sons, Donald Jr. and Eric.[1] The arrangement kept the business in the family.[4] Profits could flow to Trump during his term.[4] The organization continued operations in real estate, golf and hospitality.[2] Eric Trump and Donald Trump Jr. oversaw decisions.[1] Properties hosted events for government figures and foreign officials.[4] Revenues rose from such visits.[4] Trump received updates on performance.[4]

2019

The Trump Organization faced legal scrutiny.[3] Investors in ACN, a multilevel marketing firm, sued the Trumps.[3] They alleged fraud, false advertising and unfair competition.[3] In July 2019, a district judge in New York permitted the state claims to advance.[3] The case moved toward trial.[3] Plaintiffs sought records from the organization.[3] Lawyers argued over the scope of documents.[3]

2020

A judge ordered the Trumps to turn over Trump Organization records dating to 2005.[3] The ruling came in March 2020, amid the ACN lawsuit discovery.[3] Files included emails, contracts and financial statements.[3] The organization complied with the production.[3] The case highlighted questions about endorsements and marketing practices.[3] Donald Trump, Ivanka Trump and Donald Trump Jr. remained as defendants.[3] Proceedings paused during the pandemic.[3] The organization maintained its portfolio of properties worldwide.[6] Golf resorts drew members.[7] Hotels booked rooms for travelers.[7]

DateEvent
1968Donald Trump joined his father Fred Trump's real estate company, Trump Management.[5][3][6][7][8]
1971Trump took over leadership of the family business, later renaming it the Trump Organization around 1973-1974.[5][3][6][7][8]
1984Trump opened Harrah's at Trump Plaza casino in Atlantic City, financed by Holiday Corp.[5][3][6][7][8]
1985Trump completed and opened Trump Castle hotel/casino in Atlantic City after acquiring it from Hilton Corporation.[5][3][6][7][8]
1988Trump acquired the Plaza Hotel in Manhattan for $400 million, with Ivana Trump managing its operation.[5][3][6][7][8]
1990-06Trump faced financial crisis, unable to make loan payments on $3.4 billion in debts, leading to multiple business bankruptcies.[5][3][6][7][8]
1991-10-05Trump's Taj Mahal casino emerged from bankruptcy, with Trump ceding 50% ownership to bondholders.[5][3][6][7][8]
2017-01-11Trump resigned from management of the Trump Organization, placing it in a revocable trust run by his sons Donald Jr. and Eric.[5][3][6][7][8]

What we couldn't confirm

A 2022 lawsuit against the Trumps, if it succeeds, would prevent Ivanka Trump from holding positions as an officer or director in any New York business.[1]

The ACN case lingers in federal court, with no trial date set.

Sources

  1. [1] Trump Organization | American conglomerate - Britannica — britannica.com
  2. [2] The Trump Organization: Four Decades of Global Luxury - YouTube — youtube.com
  3. [3] Reported Business career of Donald Trump - Wikipedia — en.wikipedia.org
  4. [4] All the President's Profiting - OpenSecrets — opensecrets.org
  5. [5] Reported The Trump Organization - Wikipedia — en.wikipedia.org
  6. [6] Verified Donald Trump's Many, Many Business Dealings in 1 Map — time.com
  7. [7] The Trump Business Empire Is Growing. We Mapped It Out. - YouTube — youtube.com
  8. [8] How Trump Leveraged Other People's Money to Make Bankruptcy... — abi.org
  9. [9] Verified [PDF] How Trump's Casino Bankruptcies Screwed His Workers out of... — docs.house.gov
```html

Frequently asked questions

When did Donald Trump take control of the family business?

Donald Trump took control of the family business in 1971, at the age of 25.

What type of real estate did the Trump Organization initially focus on?

Initially, the Trump Organization focused on middle-class rental housing in the outer boroughs of New York City.

Around what time did Trump rename Trump Management to the Trump Organization?

Donald Trump renamed Trump Management to the Trump Organization around 1973 or 1974.

```