How did Trump make his money? Donald Trump is one of the most polarizing people on the entire planet. He's running for President of the United States again right now. That said, in a recent video, I didn’t talk about Donald Trump the politician. Instead, I took a deep dive into him as a businessman. Some will say he's a legendary businessman that should be praised and studied, and others will say that he's a fraudster and should literally be in prison.
In the video above, I shared my revelations as to Donald Trump the businessman: how he really made his money; how he started; and how Donald Trump became Donald Trump. In this article, I will give you 3 points that answer the question ‘how did Trump make his money?’ once and for all.
1. How Did Trump Make His Money? The Art Of Negotiation!
Trump is a top negotiator, and it is one of the keys to his success. Here’s an example. He negotiated with New York City, because New York City was on its knees financially. He was buying a building in the city, and he said, ‘Look, me buying this building is going to be great for the economy.' When the economy is struggling, that's the time to get in.
Trump managed at 28 years old to negotiate with New York City a 40-year tax abatement scheme. The tax abatement would go on to cost the city of New York over $360 million and save Trump personally over $56 million over 40 years. This drastically reduced the risk of buying the building for him and also incentivized investors to come on board with the project.
2. How Did Trump Make His Money? Branding Genius!
Trump is a master of branding, and he leverages his brand effectively in business. Here’s an example. New York City had a very famous ice rink, which was kind of like a central hub and a monument where people would come and be together, but it was closed down. It was under renovations, and New York City Council was spending millions of pounds trying to get it restored and renovated, but it was dragging on for years and years.
Donald Trump publicly said, ‘I could get this entire ice rink finished in 6 months, and I'd do it for just £2 million. That's how good I am.' And New York City said, ‘Knock yourself out.' So Donald Trump, personally with his own money, finished the ice rink. It took him 6 months, and he managed to do it under budget. This made him a hero. It may well have been the best £2 million that he ever spent, because it was an investment in his brand.
Donald Trump understood the investment in his brand. It demonstrated to everybody how good he was as a property developer. It showed that he could get things finished fast, and that he could get things done on time and in budget.
3. How Did Trump Make His Money? Unmatched Resilience!
Things haven’t always gone right for Trump, but he never gives up! Here is an example of this, Trump describes a story one time when he was almost bankrupt, he was on his knees financially, he was thinking, ‘Do I even want to go to work tonight?' He had a network meeting booked to go to some dinner where there were these bankers, and he thought, ‘Do I really even want to bother going?'
However, he got his suit on, and he went anyway, and he just so happened to be sat next to a banker who ended up giving him a big loan, which bailed him out. Trump kept on going, come what may! So should you, if you want to win!
How Did Trump Make His Money? Property!
How did Trump make his money? Property! Trump famously made a lot of his money via the property industry! If you want to learn powerful property strategies yourself, why not learn from a property expert? Join me at my next £1 training event!
On the course, you will learn how to:
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Become a property investor using other people’s money so that you can get started straight away
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Utilise the 5 different types of raised finance so that you know exactly what to offer and when
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Find the perfect properties for the BRR strategy
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Recycle your money so that you can ‘rinse and repeat’
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Build a power team you can trust, so that you can save time and money
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And much more!
Tickets are only £1, and you can get yours here. If you are ready to take action, I hope to see you very soon!
