President Donald Trump is not someone we do not know, he is one of the most powerful men on earth currently, we can say that being the president of the United States comes with this power and influence but Donald Trump has been known as a self-made billionaire even before becoming the president of the United States. Far from the fact that he made this wealth with the help of a million dollar loan from his father, Fred Trump has much to do with Donald Trump’s prominence.
Unlike the story of a self-made billionaire, the Trumps wealth have been growing for about a century now by Donald Trump’s father Fred Trump. Fred was a true hustler, he started working at the age of twelve in the construction industry. Fred was a hardworking person and got his first house at the age of twenty with a loan due to the new law president Roosevelt signed so as to help improve residential construction.
This was the success of Fred Trump as he got a lot of loans from the government to build homes. His father bought the lands using his company, and then transferred the lands to a trust fund which he made his children the beneficiaries. After which the government leased the property from the trust fund and started paying rent yearly. The ground contract enable to the government to pay $60,600 yearly as rent for 99 years.
When Donald Trump finished from college in 1968, his father asked him to come work for him after which he partnered with his father to start his full time journey into the real estate industry. His father made it an easy journey for him with loans. At the age of 30, Donald Trump was worth $200 Million with the help of his father. Donald then went into lots of investment and started going into higher risks like buying airlines, owning casinos and other properties.
Trump was a billionaire before going into politics and although he is one of the most outspoken billionaire presidents, he has earned his position there.