
The Big Cheat
David Cay Johnston
What's inside?
Explore the alleged financial manipulations and self-enrichment schemes of Donald Trump, revealing how he potentially exploited America's resources for personal gain.
You'll learn
Key points
01The Early Years: Foundations of a Business Empire
Donald Trump, born on June 14, 1946, in Queens, New York, was the fourth of five children of Fred and Mary Anne Trump. His father, a successful real estate developer, had a profound influence on young Donald, instilling in him a strong work ethic and business acumen that would shape his future ambitions and career path. Trump's early education at the Kew-Forest School was marked by rebellious behavior, leading his parents to send him to the New York Military Academy at the age of 13. This rigorous environment played a crucial role in shaping Trump's character, instilling discipline and leadership skills that would later prove invaluable in his business ventures. After graduating from the military academy in 1964, Trump enrolled at Fordham University, only to transfer to the Wharton School of the University of Pennsylvania two years later. Here, he studied economics, a choice that further solidified his interest in business and real estate. Upon his graduation in 1968, Trump joined his father's company, E. Trump & Son, where he gained hands-on experience in the real estate business. His early ventures included turning a foreclosed Cincinnati apartment complex into a profitable entity and negotiating a deal that allowed the Trump Organization to take control of the Penn Central's yards on the West Side of Manhattan. These early successes demonstrated Trump's ability to negotiate complex deals and manage large-scale projects, skills that would become hallmarks of his business empire. In 1971, Trump took control of the company, renaming it the Trump Organization. His first major success came in 1978 with the completion of the Grand Hyatt Hotel, a project that involved complex negotiations, financing, and renovation work. This project marked the beginning of Trump's reputation as a high-profile real estate developer. In 1980, Trump undertook the renovation of the Commodore Hotel, adjacent to Grand Central Station. The project, completed in 1981 and renamed the Grand Hyatt New York, became a significant success, further establishing Trump's reputation in the real estate industry. These early years laid the foundation for Trump's business empire. His ability to negotiate complex deals, manage large-scale projects, and turn struggling properties into profitable ventures was evident from the start. These skills, coupled with the business acumen and work ethic instilled in him by his father, set the stage for the creation of a business empire that would become synonymous with the Trump name.
02The Trump Tower: A Symbol of Power
The Trump Tower, a towering edifice of glass and steel on Fifth Avenue, has long been a symbol of power and prestige. Its construction, however, was steeped in controversy and allegations of exploitation, reflecting the complex and often contentious nature of its creator, Donald Trump. The tower's inception in 1979 began with the acquisition of the former Bonwit Teller building, a historic structure that was soon to be demolished. The destruction of two valuable Art Deco bas-relief sculptures on the building's façade sparked outrage among art and architecture communities. Despite promises to donate these pieces to the Metropolitan Museum of Art, Trump cited safety concerns and cost overruns as reasons for their destruction. This incident was an early indication of Trump's willingness to prioritize his own interests over cultural preservation, a trait that would become a recurring theme in his career. The construction process was further marred by allegations of exploiting undocumented Polish workers, known as the "Polish Brigade". These workers reportedly worked 12-hour shifts, seven days a week, often without proper safety equipment. A lawsuit filed in 1983 accused Trump of underpaying these workers and denying them medical and pension benefits. The case dragged on for over a decade before it was finally settled in 1999. This episode underscored Trump's willingness to exploit vulnerable individuals for his own gain, a characteristic that would later be scrutinized during his presidency. Despite these controversies, the Trump Tower was completed in 1983, standing at 58 stories high. It was one of the tallest all-glass structures in Manhattan at the time. The building's lavish interiors, including a seven-story atrium lined with pink marble, became a symbol of Trump's brand of luxury. The tower housed Trump's primary residence, a three-story penthouse decorated in 24-karat gold and marble. It also became the headquarters of the Trump Organization. The tower's high-profile tenants added to its prestige. Celebrities such as Michael Jackson and Johnny Carson, and international figures like the Saudi Prince Mutaib bin Abdulaziz, were among the residents. The Trump Tower also housed high-end retail stores, including Gucci and Niketown. The completion of the Trump Tower marked a significant milestone in Trump's career, establishing him as a major player in New York real estate. It became a symbol of his business empire and a testament to his ambition. However, the controversies surrounding its construction also foreshadowed the contentious nature of Trump's later career, including his presidency. The Trump Tower, in many ways, serves as a physical embodiment of Trump's approach to business and power: ambitious, unapologetic, and often mired in controversy.

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03Bankruptcy and Comeback: The Art of Survival
04The Apprentice: Trump's Media Mastery
05The Presidential Campaign: A New Arena
06The Presidency: Power and Controversy
07The Big Cheat: Allegations and Investigations
08Conclusion
About David Cay Johnston
David Cay Johnston is a Pulitzer Prize-winning investigative journalist and author, specializing in economics and tax issues. He has written extensively about corporate and political behavior, including several books on former President Donald Trump.