The Trump Organization has its roots back in Queens in 1906 when German immigrants, Fred and Elizabeth Trump, began buying and selling real estate. Fred died from the flu in 1918, but Elizabeth continued the business. Her son Fred Jr. also began buying and selling real estate.
Fred’s son Donald began working for the family business in 1968. He began calling it The Trump Organization. He focused his efforts on real estate in Manhattan, remodeling the Commodore Hotel, constructed Trump Tower, and the Trump Plaza. He also built several casinos in Atlantic City.
n 1990, the Trump Organization was in financial crisis and was believed by many to be on the brink of collapse, with Donald Trump and his companies owing estimated debts of $3.4 billion. Trump spent the following years renegotiating his debts and gave up some properties, including the Trump Shuttle airline and his stake in the Plaza Hotel in Manhattan. In 1995, he took another major step towards financial stability, launching a publicly traded company for the Trump casinos.
The organization has also had operations such as fashion apparel, jewelry and accessories, books, home furnishings, lighting products, bath textiles and accessories, bedding, home fragrance products, small leather goods, barware, steaks, chocolate bars, and bottled spring water.
Donald Trump states that he stepped down as CEO and is allowing his children to run the day to day operations of the company after being elected president in 2016. Forbes lists Donald Trump’s net worth as $3.1 billion, although Mr. Trump states that it is more in the area of $10 billion.
Since the financial statements of the Trump Organization’s holdings are private, as are Donald Trump’s personal tax returns, there are only estimates of the Trump Organization’s true value. Donald Trump has been accused on several occasions of deliberately inflating the valuation of Trump Organization properties through the aggressive lobbying of the media, in particular, the authors of the Forbes 400 list, in order to bolster his perceived net worth among the public over the past few decades. He has released little definitive financial documentation to the public to confirm his valuation claims.