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How did Donald Trump Become a Billionaire ?

Donald Trump Biography
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US President and billionaire businessman Donald Trump loves to talk about his money.

He has told supporters “I am really rich” and “I’ve always been good at making money”.

Mr Trump values his net worth at more than $10bn (£7bn) though this has been disputed. However, exactly how much he is worth is unclear.

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Those organisations that have looked at his finances have come up with widely differing figures.

According to Forbes his net worth is $4.5bn, Wealth-X says it is $4.4bn, while Bloomberg Billionaire’s index says it is just $2.9bn.

Mr Trump dismisses all these lower figures, saying he’s “worth much more”. The main reason for these widely differing numbers is that so much of his business holdings are private.

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legacy

In October, the front-runner told voters that his father gave him a “small loan” of $1m to get started.

Trump not only got his financing but his business style from his father.

Fred Trump started a million dollar residential real estate business in Brooklyn and Queens. He was known for building quality – many of his buildings are still standing – and pinching every penny possible.

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He typically came under-budget on government funded projects and pocketed the difference as a profit – a practice that though legal, got him called before Congress.

“Fred Trump never saw a tax [break] he didn’t take advantage of and Donald was at his elbow learning,” says Gwenda Blair, author of The Trumps.

While Donald Trump claims it was his decision to switch from building low-income housing in New York’s outer-boroughs to luxury towers in Manhattan, Ms Blair says the candidate’s father was the likely force behind the move.

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Read Richest President bin the world

“Donald Trump relied on his father’s resources. He needed his father to co-sign his loans and relied on his banking and political connections,” says Ms Blair.

Donald trump Real estate

Mr Trump’s first big project was the Commodore Hotel, which he partnered with the Hyatt Organization to buy in 1976 for an undisclosed price, and renamed the Grand Hyatt.

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How did Donald Trump Become a Billionaire ? 29

At the time many buildings in Manhattan were facing foreclosure; the Commodore itself owed $1.5m in debt and New York was not seen as the luxury vacation spot it is today. The investment was a big risk for the young developer.

Using the negotiating skills he talks about so shamelessly on the campaign trail, Mr Trump convinced New York City to give the hotel a 40-year tax break that saved $160m. In 1996 he sold his half of the hotel to Hyatt for $142m.

He would continue to invest in and develop grand New York buildings, including buying the Plaza Hotel and and the former Bank of Manhattan building.

The company’s crown jewel is the 58-floor Trump Tower on Fifth Avenue, completed in 1983. The building is still the headquarters for the Trump Organization and Mr Trump and his family live on the building’s top floors.

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Barbra Res, who served as the head of Trump Tower construction, recalls in an article for the New York Daily News, how Mr Trump was once “totally approachable and accessible”.

Over time though, she says he increasingly needed “to be coddled and agreed with”.

Building a brand

Donald Trump may claim to be a real estate mogul, but the bulk of his net worth comes from his brand value, which he began building in the 1980s.

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The young businessman did regular TV interviews and was vocal during the 1988 Republican primaries.

In the 1980s the Trump Organization began to licence the Trump name to other companies, accelerating its prominence globally.

Today, many Trump brands pay licensing fees to use the name and are not owned by Trump Organization – including the Trump Ocean Club and Trump Fine Foods.

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In 1987, when he published The Art of the Deal his celebrity climbed even higher.

Mr Trump solidified his reputation as a straight-talking negotiator with his decade-long run as the host of The Apprentice, where his crass remarks and public firing of potential employees, often on an apparent whim, earned him legions of fans.

Donald Trump Business Attitude

Like his father, Mr Trump has a reputation for saving every penny possible.

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He has called it a smart business move to withhold payments on contracts when he does not like the work, forcing the other side to negotiate a lower rate. He told Reuters he renegotiates contracts 10% to 15% of the time.

“I fight like hell to pay as little as possible,” he said.

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How did Donald Trump Become a Billionaire ? 30

Mr Trump’s “fight like hell” style has led to several well publicised legal battles. He is facing a lawsuit over Trump University and has been sued in the past by a former employee and union pension funds.

He has also used lawsuits as a tool. He sued a former Miss USA contestant for criticising the pageant he owned. He sued Deutsche Bank for refusing to give him a loan extension on a building project in Chicago.

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Despite these battles he is often praised for his business sense.

Speaking on BBC Radio 4 Piers Morgan called Mr Trump a “smart guy”.

“I think from a business perspective he runs pretty good businesses and he tends to put very smart people in charge in of them,” says Mr Morgan.

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Activist investor Carl Icahn – who Mr Trump has suggested would make a good treasury secretary – has said the front-runner is “a very open-mined guy”.

“He’s got a strong ego, he believes in himself and he’s willing to listen,” says Mr Icahn.

Mr Icahn took over Trump Entertainment in 2009 when the company filed for bankruptcy, forcing Mr Trump to give up all of his investment in his Atlantic City casinos.

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Corporate law

Mr Trump is no stranger to the legal system.

“I used the law four times and made a tremendous thing,” he said during a debate.

By the 1990s, Mr Trump and his companies had clocked up close to $3.5bn in debt. His organization has forced lenders to cut its debt on four occasions over the last three decades.

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Often the biggest concession was that Mr Trump give up part or all of his ownership, while the properties kept the Trump name – preserving the brand.

The only time Mr Trump has been personally on the line was in 1991 with the bankruptcy of the Trump Taj Mahal casino in Atlantic City.

He was responsible for $900m of the nearly $3bn debt owned by the casino and was forced to give up half his ownership in the company, and sell his airline and yacht.

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Donald Trump Foreign ownership

Mr Trump’s dealings outside the US can be as controversial as his campaign rhetoric. He has called the Chinese cheats but brought in Chinese investors to help finance his project on New York’s west side rail yards. Mr Trump and his investors eventually sold that land for $1.8bn.

He says he loves Scotland – where his mother was born and where he owns several golf courses – but criticised the Scottish government and UK courts for allowing a wind farm to be build within view of his Balmedie golf course in Aberdeenshire.

The Trump Ocean Resort Baja Mexico was forced to settle a lawsuit with investors who spent out millions to buy condos or apartments that were never built.

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As the controversy around the failed resort rose, Donald Trump pointed out the developers licensed his name and he was not responsible for the resort, despite appearing in advertising material.

Mr Trump has also been criticised for allowing the clothing brand that licenses his name to import products from Mexico, while railing against other companies that import goods to the US.

Donald trump Success

Part of what has made the Trump Organization so successful is Mr Trump’s willingness to stick his name on anything from buildings to steaks to ties.

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Forbes awarded Donald Trump five out of 10 on its self-made scale, a number the publication says indicates that he “inherited a small or medium-size business and made it into a ten-digit fortune”.

Provided Mr Trump can keep his name synonymous with wealth and winning many of his business lines should do fine, but it is unclear what his bid for president will do to that image.

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NET WORTH

Marcelo Brozovic Net Worth and Biography

In this article, we bring to you Marcelo Brozovic net worth and biography. Marcelo Brozovic is a versatile midfield maestro from Croatia, who plays as a holding midfielder for Serie A side, Inter Milan and for the Croatia national team

Marcelo Brozovic net worth
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Marcelo Brozovic is a versatile midfield maestro from Croatia, who plays as a holding midfielder for Serie A side, Inter Milan and for the Croatia national team. in this article, we will be bringing to you Marcelo Brozovic net worth and biography

Marcelo Brozovic , number 77 is known for his defensive prowess, pinpoint passes, stamina and ability to move from box to box. Although he is often played in a deeper midfield, Brozovic is capable of playing anywhere in the midfield and at some point he was likened to Chelsea and England legend Frank Lampard due to his style of play. Keep reading to find more about Marcelo Brozovic net worth

Apart from his contributions at the club level, Brozovic has been instrumental to the success of the Croatian national team, most notably during the 2018 FIFA World Cup which was held in Russia, where he helped the National team to reach the world cup finals which they lost to France. Read on to uncover more thrilling facts about Marcelo Brozovic.

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Marcelo Brozovic Net Worth Profile

Net worth$23 million
Full nameMarcelo Brozovic 
Date of birthNovember 16, 1992
NationalityCroatian
Occupationprofessional footballer
Marital statusMarried 
Years active2002-present

Early Life

Marcelo Brozovic was born in Zagreb, Croatia, on November 16,1992. His father is Ivan Brozovic while his mother goes by the name Sanja Brozovic. He has a brother named Patrick Brozovic and a sister named Ema Brozovic. He began playing football at a very young age and was soon registered in the youth ranks of Hryvatski Dragovoljac where he developed into a young, strong and versatile midfield maestro. A graduate from Hrvatski Dragovoljac’s youth academy, Marcelo Brozovic made his professional debut in 2010. 

Marcelo Brozovic Club Career

Marcelo Brozovic began his early career in 2010, where he joined the youth team of Dragovoljac. He only spent one year with the senior team (after rising through the youth ranks) before moving to Lokomotiva in 2011 to continue his development. In his debut season with Lokomotiva, Marcelo Brozovic helped the Club to escape relegation and making him one of the club’s most priced assets. 

Marcelo Brozovic subsequently developed into a composed  midfielder who is very confident with the ball in his feet then became and integral part of the club. He helped the Club to a comfortable finish in the League table and later signed a transfer deal with Dinamo Zagreb in 2012, having played 27 times for Lokomotiva. 

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After signing a seven year deal with Dinamo Zagreb, Brozovic was presented with the jersey number 77. He immediately became a regular at the club and even made his league and champions league debut where he played full time. In his debut season for the club, managed only two goals in 30 appearances. 

Having spent just three seasons with Dinamo Zagreb, Marcelo Brozovic played a total of 64 games for the club before sealing a move away to Inter Milan in 2015. As usual, Brozovic immediately established himself as a first team player who became indispensable in the heart of Inter Milan midfield.

His outstanding performances, work rates and defensive abilities endeared him to the various coaches that managed the Serie A. He subsequently helped the Nerazzurri to finish in the top four of the Serie A. In the 2020-21 season Marcelo Brozovic won the Serie A with Inter Milan, the club’s first in eleven years. He has played a total of 206 games for the Serie A Champions.

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International Career

Marcelo Brozovic has played a total of 68 games for the Croatia national team since he was called to the national team in 2014. He was with the squad that reached the finals of the FIFA 2018 world cup which they lost to France.

Family

Marcelo Brozovic is happily married to Silvia Lihtar whom he has a daughter with, named Aurora. Their second child Rafael came two years after their first child Aurora was born. 

Charity 

Marcelo Brozovic has been involved in some charity works as he donated a sets of textbooks to students of Ceric primary school. He also sponsored the hip surgery of a Macedonian. 

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Career Highlights 

  • Prva HNL
  • Serie A
  • UEFA Europa League runner
  • FIFA World Cup runner-up
  • UEFA Europa League Squad of the Season

How tall is Marcelo ?

Marcelo Brozovic is about 1.81 m (5 ft 11 in) tall, and has a weight of 68kg with an eye color of black and a black hair color. 

What is Marcelo Brozovic Net Worth ?

Marcelo Brozovic net worth is a mouth watering $23 million, making him one of the highest paid Croatian footballer.  Marcelo net worth is higher than that of fellow country man Ivan Perisic

What is Marcelo Brozovic Salary ?

Ivan Perisic receives a weekly and annual salary of £134,000, and £6,968,000 respectively.

What is FIFA 21?

Marcelo Brozovic currently has an overall FIFA 21 rating of 84.

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How Good is Marcelo Brozovic?

Marcelo Brozovic is a very indispensable player to Inter Milan, he helps solid the midfield and helps the midfield to function. His hold up play an amazing defensive skills is unlike any in the club.

Thanks for reading about Marcelo Brozovic Net Worth, leave your reply in the comments below.

Source: Glusea

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Glusea.com is an online website designated to publishing information that will help inspire and motivate high achievers. We believe that every individual lives his/her life based on the amount of information about life available to them. To this end, we strive to publish success stories of Accomplished individuals around the world as a way of motivating others. we also give tips on how to succeed in any field. If you are someone who aspires higher in; life, visit Glusea.com daily and you will be abreast with all the latest trends about success here. Welcome to the Glusea family.. we love you dearly contact us via email: gluseagh@gmail.com Copyright © 2021, Glusea