The Turbulent
Times of Donald Trump
By
Stephane Fitch
Reprinted from Forbes Inc., Oct. 9, 2006
At 60, Donald Trump is preparing for the day when
he turns the family real estate empire over to his
son Don Jr. and daughter Ivanka. He has taught them
well.
From the outset, in the 1970s, the developer always
has aimed high, but in the early 1990s he came crashing
down. Then he clawed his way back and today has
his name all over, even if others are assuming the
risk for him.
1946: Developer Fred C. Trump and his wife have
new son, Donald.
1976: Trump proposes to reconstruct Commodore Hotel
adjacent to Grand Central Terminal into luxury hotel
with tax help from New York City, enraging several
competing hotel operators.
1978: Sells stake in hotel to Hyatt, breaks ground.
1979: Buys Bonwit Teller Building on Fifth Avenue
and picks up enough air rights to replace it with
68-story tower.
1980: Preservationists, art lovers outraged as Trump
sledgehammers beloved sculptures on Bonwit facade
to make way for Trump Tower.
1982: Trump gets casino license in New Jersey.
1983: Trump forms New Jersey Generals football team
for nascent USFL pro league.
1984: Trump proposes world's tallest building on
landfill at South Street Seaport in Manhattan. (Building
never breaks ground.)
1984: Trump sues architecture critic of "Chicago
Tribune," Paul Gapp, for $500 million for his
negative article on world's-tallest-building plan.
1985: Trump proposes to erect domed stadium for
New Jersey Generals next to Shea Stadium in Queens.
1986: NYC gives Trump okay to rebuild Central Park's
ailing Wollman ice rink; rink reopens just months
later.
1987: Trump calls New York City mayor Ed Koch a
"moron" for impeding his plan to develop
TV studios for NBC; weighs bid for mayoral race.
1987: Trump considers bid for Bally casinos.
1988: Wins right to host Mike Tyson-Michael Spinks
boxing match; says he'll advise Tyson on career
and financial matters.
1988: Trump buys Eastern Air Lines shuttle.
1988: Trump signs on to sponsor of Tour de Trump
cycling stage race in U.S.
1989: Trump and Lorimar Television discuss developing
syndicated game show "Trump Card." (Show
never airs.)
1990: Trump announces his marriage to former Czech
Olympic skier Ivana Trump is "no longer working
out"; begins dating model Marla Maples publicly.
1990: Trump opens Taj Mahal casino in Atlantic City.
1990: Trump's purchase of Plaza Hotel across from
Central Park fails to meet expectations, cover interest
payments.
1990: Trump borrows to make payments to casino bondholders.
1990: Trump buys Dutch shipyard, sells it two months
later.
1990: Trump hires Stephen Bollenbach to sort out
debt problems, partly dismantle empire.
1991: Trump and Maples get engaged.
1992: Taj Mahal wobbles out of bankruptcy.
1993: Maples gives birth to Trump daughter Tiffany
couple marries at Plaza Hotel.
1995: Trump sells glamorous Plaza Hotel at loss;
buys vacant landmark, 40 Wall Street.
1997: With GE Capital, redevelops Gulf & Western
office building into Trump International Hotel &
Tower condo-hotel.
1997: Separates, divorces Maples.
1998: Unveils controversial design for residential
skyscraper near U.N.
1999: Trump's father, Fred, dies.
2003: With producer Mark Burnett launches first
season of "The Apprentice."
2004: Demolishes Chicago Sun-Times Building to make
way for 92-story hotel condo; names "Apprentice"
winner "owner's representative" on project.
2005: Trump cedes chief executive title of casino
company after bankruptcy and
reorganization.
2005: Weds Melania Knauss in Florida.
2005: Launches Martha Stewart "Apprentice"
spinoff. Later canceled by NBC.
2006: Melania Trump gives birth to son, Barron William.
Trump says name is "pretentious--but I'm pretentious,
so why shouldn't he be?"
2006: Launches several condo hotel developments.
Among them: Trump Ocean Club, Panama; Trump Ocean
Resort Baja Mexico; Trump Las Olas, Ft. Lauderdale,
Florida; and Trump Tower Waikiki, Hawaii.
