Donald Trump's honeymoon as New York's toast of the town ran int to the rocks of Atlantic City, NJ. The seacoast resort, which was always questionable due to dicey seasonal weather, was failing badly.
Trump, who's devotion to the region is without question, decided to get into the casino business. He did all the requisite homework, as usual. This image of him going off half cocked is not a factual presentation.
He does his due diligence, and went out and hired the three top experts in the industry. One had experience managing casinos, the other knew resorts, and the third was a tax expert. Trump spent a small fortune upgrading the Trump Taj Mahal, as it was called, and he was ready to go.
However, three weeks before the casino opened there was a helicopter crash, tragically killing his entire brain trust. The real estate developer was now forced to learn the casino business.
Something he had little interest and zero aptitude for. Add to it the slow, but steady decline of the Atlantic City area, and you have a recipe for disaster. And that's pretty much what occurred.
This debacle went on for years, and was both a bad time for Trump and a warning to others about over extension into fields that require expertise one does not possess.
But he got back to doing what he really knew- building. He took $60 million of his own money and leveraged it against a $640 million dollar loan and developed Trump Tower in Chicago, which has been an enormous success for him.
He was now back on his feet and smelling the coffee once again.
But there are always other challenges, particularly for a restless man who neither drinks nor smokes, nor takes drugs. His leisure time is his work, something the public is starting to learn.
His days start at 5 am and end around 1 am. That's 4-5 hours of sleep, not recommended by health experts but seems to work for him. What to do with all that time?
He found just the outlet...
The billionaire discovers reality TV- and cements his place in the public eye.