King Donald has become the living symbol of New York real estate. But now he鈥檚 busy buying up the rest of the world as well, including Britain. Emily Wright asked him about his dreams
鈥榊ou have a beautiful accent honey, really beautiful. It鈥檚 so nice to hear it. Anyway, I have 20 people waiting for me outside and I鈥檓 late. So let鈥檚 start. Right now.鈥
Donald Trump is a little bit charming, a little more patronising and totally unpredictable. Careering from compliment to command in five seconds flat, his volatility makes interviewing him a nerve-wracking proposition. Every attempt to get under his skin or push for more information is a balancing act with no way of knowing whether he鈥檒l respond with a great answer or a short, sharp goodbye.
Though risky, the probing is necessary as the biggest name in New York real estate has a habit of answering questions in cliches such as 鈥渢here鈥檒l always be ups and downs but there鈥檚 no place like Manhattan鈥 and 鈥渘ever give up on your dreams.鈥 Good advice perhaps, but hardly revealing.
It鈥檚 a shame, because there is more to the 62 year old than cheesy one-liners. His colourful past, his wives and celebrity connections may take up much of his public image, but it is what he has achieved in the boardroom that has made him one of the best known businessmen in the world: you don鈥檛 build up a business worth $3bn (拢1.7bn) on a wing, a prayer and a combover.
Trump鈥檚 outstanding talent is for identifying promising property markets and exploiting them. And these days, Britain is topping his list both in terms of development opportunities and the calibre of construction companies. So, even with 20 people waiting for him outside 鈥 the man known simply as 鈥淭he Donald鈥 gives up some time to talk about his Scottish roots, why he wants to work with Brits in the UK and the US and where he plans on taking the Trump empire.
鈥業t鈥檚 a great story鈥
Originally from the New York suburb of Queens, Trump is a local boy but his mother ran away to America from her Scottish hometown, Stornoway, when she was 20. She met Fred Trump, a local builder from New York, and married him in 1936. They had five children, of which Donald was number four.
鈥淚t鈥檚 a great story and I go back to my mother鈥檚 home town whenever I can,鈥 says Trump. 鈥淪he was a great woman and my father was a great guy. And they had a great marriage. They were married for 62 years. Which is kind of different from the way things are done today, huh?鈥 Whether this is a question or a statement, Trump doesn鈥檛 wait for an answer, perhaps so as not to get too far into the issue so soon after the birth of his fifth child to his third wife.
Trump graduated from the University of Pennsylvania in 1968 with a degree in economics before joining his father鈥檚 company, the Trump Organisation, which focused on real estate in Brooklyn and Queens. But he always wanted to take it into Manhattan: 鈥淚t was where all the most beautiful, most iconic buildings were. It symbolised success for me. It was where I wanted to be, so I moved out there. I鈥檓 glad I did it. It鈥檚 all worked out pretty well.鈥
Pretty well indeed. In Manhattan alone some of Trump鈥檚 best known projects include the $290m (拢168m) Trump World Tower, the $288m (拢167m) Trump Tower on 5th Avenue and his famous 30,000ft2 personal residence 鈥 three floors detailed in gold, marble and bronze which, at $50m (拢29m), make up one of the most valuable apartments in the city. Then there are his hotel and casino projects across the US, and a collection of schemes overseas including the Palm Trump International Hotel and Tower in Dubai and his most recent plans to develop in the UK, China, Russia, Korea and Turkey.
鈥楾he UK is doing just fine鈥
Although Trump keeps the details of his upcoming projects under wraps 鈥 鈥淚 don鈥檛 want anyone to know about the properties I鈥檓 looking at and take them from me鈥 鈥 he is prepared to discuss the areas he is earmarking for future development. First, he is quick to dismiss rumblings that Dubai may be about to go south: 鈥淚 don鈥檛 think so. There are still many opportunities and we are planning an awful lot more out there. I am not holding back from that market at all.鈥
He adds that his organisation is looking to expand in Britain, and is full of praise for the old country: 鈥淚 think the UK is doing just fine. I don鈥檛 think it needs to learn too many more lessons from the US. For example, the UK government came up with the formula for the banks.鈥
And this glowing praise extends to the UK construction industry. 鈥淚t used to be that if you were good in construction or property in the US you鈥檇 be good in the UK but I think that鈥檚 true vice-versa these days. I, for one, like working with UK firms and architects.鈥
It would be easy to dismiss this comment as Trump paying lip service to a market he wants to get on side. But his money is already where his mouth is, as he works with a number of UK firms in New York.
鈥淚 use many, many UK engineers and architects. I have the same criteria I do for the US firms. If I like them, I use them, and if I stop liking them, they鈥檙e gone. I am tough like that.鈥
While there are some who praise Trump鈥檚 drive to achieve the 鈥渨orld class鈥 project, he has not impressed everyone in the UK. His only scheme in the UK is a 拢1bn, 1,400-acre golf course near Aberdeen. Patrick Harvies, a member of the Scottish parliament, disagrees with first minister Alex Salmond鈥檚 support for the project, saying: 鈥淒onald Trump鈥檚 idea that Aberdeenshire should rely on American tourists arriving by jet and spending their time and money here is both fundamentally flawed and unsustainable.鈥
Thanks to the political row and opposition from environmental groups, it is perhaps unsurprising that things are moving slowly on the golf course. The problems arose as the course was originally to be built on sand dunes which are sites of special scientific interest. 鈥淲e鈥檙e waiting to hear back from the government after we did some re-zoning and I am not one to rush the government,鈥 Trump says before adding, 鈥淚t鈥檚 the greatest piece of property I have ever seen.鈥
Really? 鈥淲ell, it鈥檚 the best piece of property in terms of building a big golf course.鈥
New York, New York
Trump may be a billionaire but this economic climate is enough to rattle even the wealthiest of men. After all, he is relying on people to keep up a life of luxury 鈥 staying in the best hotels, buying the best apartments, gambling and playing rounds of golf. And he predicts that the construction and property industries in Manhattan will suffer.
鈥淚 am sure the time will come when Manhattan experiences a downturn. And I have learned how to deal with that the hard way.鈥 He is talking about his financial problems during the last recession when, in 1991, he had $900m (拢520m) of personal debt and $3.5bn (拢2bn) of business debt. Deals with banks had to be made for Trump to salvage his livelihood.
But this time around things are looking much rosier 鈥 not least because he has benefited from some lucrative deals at just the right time: 鈥淭he economic situation is severe and will be around for a while. But I have been fortunate as a lot of my latest developments were completed and sold just before the crunch, like my property in SoHo, New York. I even sold a house in Palm Beach for $100m (拢58m) six weeks ago 鈥 very lucky.鈥
Talking about his accomplishments, Trump is upfront and relaxed. He has no time for modesty: 鈥淚 buy all my properties in cash, honey. I am in a position to do so.鈥
And he says that his calm confidence is because 鈥淚 never think about failing鈥.
But he is quick to deny that success has come easily: 鈥淚t鈥檚 been a lot of work, effort and brain power and not everybody can be a millionaire. Certainly not everybody can be a billionaire. Nothing in life comes easy and it is not a good way to look at things, and honey I still have 20 people waiting outside.鈥
The answer to the question and the excuse to leave run seamlessly together. There is just enough time for a few more questions, although Trump answers them as bullet points. He鈥檒l be supporting McCain in the election because he prefers his tax policy, he thinks being liked and being successful can be synonymous as long as you know what you are doing and he believes the most successful people in business are cleverer than they are tough.
He does spare a final seven seconds to offer his ultimate piece of advice: 鈥淗oney, just keep going, never quit and always follow your dreams.鈥 Well, it鈥檚 a little bit charming and a little more patronising but this time at least it鈥檚 completely predictable.
Original print headline - Trump鈥檚 Towers
Trump鈥檚 top projects
In New York
Trump World Tower $290m
Trump Tower 5th Avenue $288m
40 Wall Street $260m
Trump Park Avenue $142m
鈥 and the rest of the world
Trump International Hotel and Tower, Chicago $1.2bn
Trump International Hotel and Tower, Toronto $500m
Trump Plaza Residences, New Jersey $450m
The Palm Trump International Hotel and Tower, Dubai $400m
Palm Beach Estate, Florida $100m
New York
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Trump's Towers: Interviewing real-estate guru Donald Trump
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