How the Trumps Got Rich

The Trump fortune was built off theft — from workers, from the state, and from the commons.

Standing guard at Trump Tower
Leica M8, New York, July, 2012, 7/19/2012,

Trump Tower, July, 2012. Ernesto De Quesada / Flickr


Most Americans know Republican presidential candidate Donald Trump as a reality television star and a celebrity endorser. But in his home state of New York, he has a different reputation: he’s a real estate shmuck.

Trump inherited his business — which consists of gilded and glassed condos, clubs, casinos, office towers, hotels, and golf courses throughout New York City and beyond — from his father, Fred Trump. Like the Dursts, Rudins, Zeckendorfs, and LeFraks, the older Trump ran a family-based real estate empire.

Though these families still exert a great deal of power in New York City development politics, they are beginning to be outpaced by new corporate real estate titans — like Extell, Vornado, Related, BlackRock, and others — that use global investment capital to build glitzy new developments and buy out old affordable complexes. Donald Trump bridges these two modes, combining family business with corporate kitsch.

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