Real estate developer

Trump, Donald John (1946- ), American real estate developer, born in Queens, New York City, educated at Fordham University and the University of Pennsylvania's Wharton School. Known as one of Manhattan's most grandiose and controversial builders, Trump first made his mark at age 28 when he convinced the city to build a convention center on the site of the defunct Penn Central railroad yards, on which he had secured options; he also negotiated with the city and Hyatt Corporation to renovate the Commodore Hotel into the Grand Hyatt Hotel (1980). He is perhaps best known for building Trump Tower, on Fifth Avenue.

At its peak in the late 1980s Trump's billion- dollar empire included Trump Parc; more than 24,000 rental and co-op apartments; the Trump Shuttle airline, ownership of the New Jersey Generals of the United States Football League; and casinos in Atlantic City, New Jersey, including Trump's Castle, as well as sumptuous private homes. He was the author of Trump: The Art of the Deal (1987) and other books about his career.

By 1990 Trump was facing bankruptcy, unable to meet payments on over $2 billion in loans owed to banks. He was able to secure emergency financing at various times but had to cede operational control of most of his real estate to the creditor banks and gradually traded control of considerable parts of his empire including the Trump Shuttle, casinos, and the Plaza Hotel in order to secure more favorable debt restructuring.