The Trump Organization is a group of about 500 business entities of which Donald Trump is the sole or principal owner. The organization was founded in 1923 by Donald Trump’s grandmother, Elizabeth Christ Trump, and father, Fred Trump, as E. Trump & Son. Donald Trump began leading it in 1971, renamed it around 1973, and handed off its leadership to his children in 2017. Trump has been accused of deliberately inflating the valuation of Trump Organization properties through aggressive lobbying of the media.
About The Trump Organization in brief
The Trump Organization is a group of about 500 business entities of which Donald Trump is the sole or principal owner. About 250 of these entities use the Trump name. The organization was founded in 1923 by Donald Trump’s grandmother, Elizabeth Christ Trump, and father, Fred Trump, as E. Trump & Son. Donald Trump began leading it in 1971, renamed it around 1973, and handed off its leadership to his children in 2017. Trump Organization entities own, operate, invest in, and develop residential real estate, hotels, resorts, residential towers, and golf courses in various countries. They also operate or have operated in construction, hospitality, casinos, entertainment, book and magazine publishing, broadcast media, model management, retail, financial services, food and beverages, online travel, commercial and private aviation and beauty pageants. Trump has been accused of deliberately inflating the valuation of Trump Organization properties through aggressive lobbying of the media to bolster his perceived net worth. The company’s true value is not publicly known, though a wide range of estimates have been made. Trump was quickly thrust into the limelight as one of New York City’s most successful businessmen. He opened the 1,344-unit Shore Haven complex in 1949, followed by Beach Haven in 1950 and Trump Village in 1964. He also opened three hotels in Atlantic City, New Jersey: Trump Castle, Trump Plaza and Trump Mahal. In 1990, the Trump Organization approached a financial crisis believed to be due to be a real estate slump in New York and approached the government for help.
The Trump Organization had not had a formal name until 1973, but had not been referred to as the Fred Trump Organization, or the Fred C. Trump Organisation. The business had previously been known as the E. Trump and Son, or E. Trump & C. C. Around 1973, Donald began referring to the business as the Donald Trump Organization or the Trump Trump Organization. Donald was made president of the company in the early 1970s while Fred became chairman of the board while he was on the board. In the early 1980s, Donald became the chairman and CEO of the Trump C.C., or the Donald and Fred Trump Company. In 1998, Donald Trump became the president and chief executive officer of The Trump Company, or The Trump Corporation. In 2008, Donald was the chairman of The Donald Trump and The Trump Group, the company he co-founded with his brother, Eric Trump. In 2010, Donald and Eric Trump were named the owners of Trump International Golf Club, a golf course in Jupiter, Florida. In 2012, Donald began a partnership with The Equitable Trust to develop the Trump Tower in Manhattan. In 2013, the two companies announced a joint venture to build the Trump Grand Hotel in New Jersey. In 2014, Trump and his son, Eric, became the co-founders of the New York Trump Golf Club in Queens, New York. In 2015, the three companies merged to create the Trump International Hotel and Spa in Queens.
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This page is based on the article The Trump Organization published in Wikipedia (as of Dec. 07, 2020) and was automatically summarized using artificial intelligence.
