Trump: The Art of the Deal

Trump: The Art of the Deal

by Donald J. Trump, Tony Schwartz

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Overview

President Donald J. Trump lays out his professional and personal worldview in this classic work—a firsthand account of the rise of America’s foremost deal-maker.

“I like thinking big. I always have. To me it’s very simple: If you’re going to be thinking anyway, you might as well think big.”—Donald J. Trump

Here is Trump in action—how he runs his organization and how he runs his life—as he meets the people he needs to meet, chats with family and friends, clashes with enemies, and challenges conventional thinking. But even a maverick plays by rules, and Trump has formulated time-tested guidelines for success. He isolates the common elements in his greatest accomplishments; he shatters myths; he names names, spells out the zeros, and fully reveals the deal-maker’s art. And throughout, Trump talks—really talks—about how he does it. Trump: The Art of the Deal is an unguarded look at the mind of a brilliant entrepreneur—the ultimate read for anyone interested in the man behind the spotlight.

Praise for Trump: The Art of the Deal

“Trump makes one believe for a moment in the American dream again.”—The New York Times

“Donald Trump is a deal maker. He is a deal maker the way lions are carnivores and water is wet.”—Chicago Tribune
 
“Fascinating . . . wholly absorbing . . . conveys Trump’s larger-than-life demeanor so vibrantly that the reader’s attention is instantly and fully claimed.”—Boston Herald
 
“A chatty, generous, chutzpa-filled autobiography.”—New York Post

Product Details

ISBN-13: 9780399594496
Publisher: Random House Publishing Group
Publication date: 10/06/2015
Pages: 384
Sales rank: 14,176
Product dimensions: 5.10(w) x 7.90(h) x 1.00(d)

About the Author

Donald J. Trump is the forty-fifth president of the United States. He is the very definition of the American success story, continually setting standards of excellence while expanding his interests in real estate, gaming, sports, and entertainment. He was named the Hotel and Real Estate Visionary of the Century by the UJA Federation. Trump is the New York Times bestselling author of many books, including Time to Get Tough, The America We Deserve, Think Like a Billionaire, How to Get Rich, Surviving at the Top, The Art of the Comeback, and The Art of the Deal. These books have sold millions of copies. An ardent philanthropist, Trump is involved with numerous civic and charitable organizations.

Read an Excerpt

DEALING
 
A Week in the Life
 
IDON’T do it for the money. I’ve got enough, much more than I’ll ever need. I do it to do it. Deals are my art form. Other people paint beautifully on canvas or write wonderful poetry. I like making deals, preferably big deals. That’s how I get my kicks.
 
Most people are surprised by the way I work. I play it very loose. I don’t carry a briefcase. I try not to schedule too many meetings. I leave my door open. You can’t be imaginative or entrepreneurial if you’ve got too much structure. I prefer to come to work each day and just see what develops.
 
There is no typical week in my life. I wake up most mornings very early, around six, and spend the first hour or so of each day reading the morning newspapers. I usually arrive at my office by nine, and I get on the phone. There’s rarely a day with fewer than fifty calls, and often it runs to over a hundred. In between, I have at least a dozen meetings. The majority occur on the spur of the moment, and few of them last longer than fifteen minutes. I rarely stop for lunch. I leave my office by six-thirty, but I frequently make calls from home until midnight, and all weekend long.
 
It never stops, and I wouldn’t have it any other way. I try to learn from the past, but I plan for the future by focusing exclusively on the present. That’s where the fun is. And if it can’t be fun, what’s the point?
 
MONDAY
 
9:00 A.M.   My first call is to Alan (“Ace”) Greenberg, on the trading floor of Bear Sterns, a major Wall Street investment banking firm. Alan is the CEO of Bear Sterns, he’s been my investment banker for the past five years, and he’s the best there is. Two weeks ago, we began buying stock in Holiday Inns. It was selling in the 50s. As of this morning, Alan tells me, I own just over one million shares, or slightly more than 4 percent of the company. The stock closed Friday at $65 a share, mostly, Alan says, because word is out on the street that I’ve been a big buyer, and there’s speculation I am planning a run at the company.
 
The truth is I’m keeping my options open. I may ultimately go for control of Holiday, which I think is somewhat undervalued. At the current stock price, I could get control for less than $2 billion. Holiday’s three casino-hotels could be worth nearly that much—and the company owns another 300,000 hotel rooms besides.
 
A second option, if the stock price goes high enough, is to sell my stake and take a very nice profit. If I did that today, I’d already be up about $7 million. The third possibility is that Holiday may eventually offer to buy back my shares, at a premium, simply to get rid of me. If the premium is big enough, I’ll sell.
 
In any case, I enjoy seeing the lengths to which bad managements go to preserve what they call their independence—which really just means their jobs.
 
9:30 A.M.   Abraham Hirschfeld calls me, looking for advice. Abe is a successful real estate developer but he wants to be a politician. Unfortunately for Abe, he’s a far better developer than politician.
 
This fall, Abe tried to run for lieutenant governor against Governor Cuomo’s hand-picked candidate, Stan Lundine. Cuomo led a court fight to get Hirschfeld off the ballot on technical grounds, and sure enough, halfway into the campaign, the court ruled Hirschfeld out. Abe knows I’m friendly with the governor, and he wants my advice now on whether he should endorse Cuomo or switch parties and endorse Cuomo’s opponent. I tell him it’s a no-contest question—stick with a winner and a good guy at that.
 
We set a meeting for Thursday.
 
10:00 A.M.   I call Don Imus to thank him. Imus has one of the most successful radio shows in the United States on WNBC, and he’s been helping to raise money for the Annabel Hill fund.
I’m amazed at how this has snowballed into such a media event. It began last week when I saw a national news report by Tom Brokaw about this adorable little lady from Georgia, Mrs. Hill, who was trying to save her farm from being foreclosed. Her sixty-seven-year-old husband had committed suicide a few weeks earlier, hoping his life insurance would save the farm, which had been in the family for generations. But the insurance proceeds weren’t nearly enough. It was a very sad situation, and I was moved. Here were people who’d worked very hard and honestly all their lives, only to see it all crumble before them. To me, it just seemed wrong.
 
Through NBC I was put in touch with a wonderful guy from Georgia named Frank Argenbright, who’d become very involved in trying to help Mrs. Hill. Frank directed me to the bank that held Mrs. Hill’s mortgage. The next morning, I called and got some vice president on the line. I explained that I was a businessman from New York, and that I was interested in helping Mrs. Hill. He told me he was sorry, but that it was too late. They were going to auction off the farm, he said, and “nothing or no one is going to stop it.”
 
That really got me going. I said to the guy: “You listen to me. If you do foreclose, I’ll personally bring a lawsuit for murder against you and your bank, on the grounds that you harassed Mrs. Hill’s husband to his death.” All of a sudden the bank officer sounded very nervous and said he’d get right back to me.
 
Sometimes it pays to be a little wild. An hour later I got a call back from the banker, and he said, “Don’t worry, we’re going to work it out, Mr. Tramp.” Mrs. Hill and Frank Argenbright told the media, and the next thing I knew, it was the lead story on the network news.
 
By the end of the week, we’d raised $40,000. Imus alone raised almost $20,000 by appealing to his listeners. As a Christmas present to Mrs. Hill and her family, we’ve scheduled a mortgage-burning ceremony for Christmas Eve in the atrium of Trump Tower. By then, I’m confident, we’ll have raised all the money. I’ve promised Mrs. Hill that if we haven’t, I’ll make up any difference.
 
I tell Imus he’s the greatest, and I invite him to be my guest one day next week at the tennis matches at the U.S. Open. I have a courtside box and I used to go myself almost every day. Now I’m so busy I mostly just send my friends.
 
11:15 A.M.   Harry Usher, the commissioner of the United States Football League, calls. Last month, the jury in the antitrust suit we brought against the National Football League ruled that the NFL was a monopoly, but awarded us only token damages of one dollar. I’ve already let the better players on my team, the New Jersey Generals, sign with the NFL. But the ruling was ridiculous.
 
We argue about the approach we should take. I want to be more aggressive. “What worries me,” I say to Harry, “is that no one is pushing hard enough on an appeal.”
 
12:00 noon Gerry Schoenfeld, head of the Shubert Organization, the biggest Broadway theater owners, calls to recommend a woman for a job as an office administrator. He tells me the woman specifically wants to work for Donald Trump, and I say she’s crazy but I’ll be happy to see her.
 
We talk a little about the theater business, and I tell Gerry I’m about to take my kids to see Cats, one of his shows, for a second time. He asks if I’m getting my tickets through his office. I tell him that I don’t like to do that sort of thing. “Don’t be silly,” he says. “We have a woman here whose job it is to handle tickets for our friends. Here’s her number. Don’t hesitate to call.”
 
It’s a nice gesture from a very nice guy.
 
1:15 P.M.   Anthony Gliedman stops by to discuss the Wollman Rink project. Gliedman was housing commissioner under Ed Koch. At the time we fought a lot, and even though I ended up beating him in court, I always thought he was bright. I don’t hold it against people that they have opposed me.
 
I’m just looking to hire the best talent, wherever I can find it.
 
Tony has been helping to coordinate the rebuilding of the Wollman Skating Rink in Central Park, a project the city failed at so miserably for seven years. In June I offered to do the job myself. Now we’re ahead of schedule, and Tony tells me that he’s set up a press conference for Thursday to celebrate the last important step in construction: pouring the concrete.
 
It doesn’t sound like much of a news event to me, and I ask him if anyone is likely to show up. He says at least a dozen news organizations have RSVPd yes. So much for my news judgment.
 

Table of Contents

Acknowledgments vii

1 Dealing: A Week in the life 1

2 Tramp Cards: The Elements of the Deal 45

3 Growing Up 65

4 He Cincinnati Kid: Prudence Pays 81

5 The Move to Manhattan 93

6 Gland Hotel: Reviving 42nd Street 119

7 Trump Tower: The Tiffany Location 145

8 Gaming: The Building on the Boardwalk 195

9 Wynn-Fall: The Battle for Hilton 225

10 Low Rent, High Stakes: The Showdown on Central Park South 249

11 Long Shot: The Spring and Fall of the USFL 273

12 Ice Capades: Rebuilding Wollman Rink 301

13 Comeback: A West Side Story 325

14 The Week That Was: How the Deals Came Out 355

Index 369

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Trump: The Art of the Deal 3.9 out of 5 based on 0 ratings. 88 reviews.
Anonymous More than 1 year ago
After reading this book I felt very inspired and inclined to succeed. Another book that also has helped me out that was refered to me when I bought this book was "Life After Foreclosure" by Dean Wegner. Overall this book was great and I would recomend both!
Anonymous More than 1 year ago
Enjoyed the sample very much. It will be a great read on deal-making in the world of business partnerships and being your own boss.
GRACIE9492 More than 1 year ago
Loved the book. And those of you 'haters' should actually READ it instead of trashing Trump! that is if you CAN read.
redbrandy More than 1 year ago
Donald Trump is an incredable businessman and human being. I know there are many people that do not care for him, PLEASE read this book it will change your mind. The book is full of sound business advice. Even more it is inspirational, encouraging and offers something for every reader not just business people. You will not be sorry you bought this book, it has changed my approach to life. Mr Trump is a hard working person he does not sit back and dictate, he is out proactively involved in everyday business. He has truely earned the right to be as wealthy as he is and shares his keys to sucess freely with his readers. I went and bought all of his books after reading this one!
PhotoBySki More than 1 year ago
I have become a student of Mr. Trump - having read four of his books now. This book really explains what makes Trump so successful. It's not an accident that he has become so successful at what he does. Read this book to discover how he did it. He tells all! http://www.photographybyski.com
Guest More than 1 year ago
This highly readable book I would recommend ONLY to the clear and serious minded entrepreneur. Trump is a master at getting the right jobs done pretty much at the righ time. His eleven steps elucidated in the text are a platform of wisdom that he has come by from his family, education and the choices he has grown used to making in his ambitious professional as well as in his private life. Mr. Trump offers no panaceas in this co-authored hand-book. I found that he tends to invite the reader to posture to their fullest as a person, planner and doer. Like all good books you may want to return to the text more than once. Every good reading experience opens new vistas and parts of your mind. You hopefully will feel motivated to evalute and re-invent yourself from time to time as Mr. Trump seems to like to do with himself. I now have read the book more than eleven times. I can see reading it as much as I need to return to its pages to either clarify or hone an idea. It does need a better index, actually a better prepared index for the readers that will come to this reading with actual results in mind. The book is written in a manner that will also invite a bit of 'reading between the lines' as well as reading behind the scenes. Mr. Trump has a formidable ego and an interesting stage presence. He blows his own horn, a lot. Which is also a lesson of merit. I read this as being a sharing of an example for some that may chose to champion their own projects in much the manner that Mr. Trump goes to battle for what he apparently believes. In my mentoring program for new business associates, IBOs, in my own growing Quixtar business as well as in building my Language/Literacy centers, there is much immediate and useful energy in this little book. I happily recommend and share this with all the clear minded and serious business people that I know. Good reading!!! All the best Dr. DuMaine, The Master-Teacher
Guest More than 1 year ago
Trump talks about his various deals that he conducted in New York, Manhattan, and Atlantic City. He explains the beauracracies that he had to deal with and how he fought through the tough times to get what he wanted.
Guest More than 1 year ago
This novel begins with the reader getting inside of Donald Trump's mind and daily routine that has made him such a successful mogul in the real estate business. The reader feels as if Donald is talking to them while giving pointers on how to close deals. The chapters are divided amongst the most important deals that made Trump the billionaire that he is today. What I loved about this book is that Donald Trump shows various techniques in which to make deals and how to approach potential buyers and sellers. Much on how Mr. Trump goes about learning and knowing 'The Art of the Deal' is through the many personal experiences that he has gone through the past 3 decades. Donald is shown to be a down to earth guy but can be very demanding when it comes to getting what he wants. Another great accolade about the novel is the fact that it shows people on how things work in the real world. This novel focuses on bettering bad habit of doing business to a great way of accomplishing what one wants in a deal. I would recommend this novel to anyone who looks to invest in real estate as well as learning the ropes of what it takes to finalize the deal.
Guest More than 1 year ago
The Art of the Deal is truly a classic. Easy read, Interesting information, alot of insight, full of humor, very solid book. If you want to learn about business, read this book and learn from one of the best.
Anonymous More than 1 year ago
I enjoyed reading this book much more than I thought I would and promptly watched the movie that was made based on the book. Trump is a very smart man, much more than average people might think. Great read!
Anonymous More than 1 year ago
Amazing book into the life of Donald trump
Anonymous More than 1 year ago
It may sound "cliche", but ANYONE interested in who our 45th President is, this book "touches almost all of the bases". I would respectfully advise President Trump's detractors to read it, if only to be able to pretend to know what you are "talking" about. To his opponents : I dare you to read this book! If you do, and still oppose him, at least you will have a somewhat cogent argument. If you read it with an open mind, I think you will reconsider. LOTS of information not widely known. FREE YOUR MIND!
Anonymous More than 1 year ago
I think it was a gret read, even though it wasnt what I expected which was a how too book. Stll I would recomend this book too anyone interested in business.
Anonymous More than 1 year ago
Guest More than 1 year ago
Trump is one of the funnest authors that I have read to say the least. 'Trump The Art of The Deal' is amazing and filled with uplifting stories, and a week in the life of Donald Trump. Trump starts you out putting yourself in his shoes for one week, and wow it made me enjoy being a student. Then he starts actually giving tips to the reader which I will take to heart because if they worked for Donald, it can work for me, and look how far it has taken him. Background is not a bad thing, he explains growing up and making some of his first real entrepreneurial deals that made him big. I liked this book because it influenced my life with techniques from a very well known businessman. It was also easy to read, no complicated words or phrases like 'Beowulf' or 'Romeo and Juliet.' Although there are ups and downs to every book. There were not many negative sides to this novel, mainly the fact that Trump woulod sometimes explain a situation for to long or give to much detail that the reader did not need to know. Otherwise I would strongly recommend 'Trump The Art of The Deal' to anyone. On the cover there is a quote saying 'He makes one believe in the American dream again.' - New York Times. This is true, if he can do it the way he did it, then anyone has the possibilities to. I think that the main theme that Trump is trying to get across is, if you are not going to try, then don't complain to the person that did try. Also to believe in yourself, and anything is possible.
Guest More than 1 year ago
It is very informative and interesting, it goes in depth about all of his deals before 1987(when the book was written) and it shows how he got started. It was before he became very cocky so it isnt just a flamboyant book about his accomplishments
Guest More than 1 year ago
This book is as smooth as its namesake author. Long before 'You're fired!' entered the popular lexicon, 'The Donald' was piecing together deals that changed Manhattan's skyline. The book includes a diary of Trump's typical week. He flirts with a hostile takeover of Holiday Inn (which nets him tens of millions of dollars), has a friendly conversation with radio personality Don Imus, selects Christmas decorations for the Trump Tower atrium, chats with NBC executives, talks with Ivan Boesky just two weeks before Boesky pleads guilty to insider trading, meets with a top New York banker who begs him for his business, has a conversation with Missouri senator John Danforth and speaks with international designer Calvin Klein ¿ all by Tuesday. If you conclude that Trump is a self-promoting, silver-spooned name-dropper, take your shirt off now and hand it to him ¿ before he tears it off your back. Trump plays for keeps. Tony Schwarz has done his usual masterful job of co-authoring this book. (If nicely spun anecdotes could be used as collateral, Schwarz could be a real estate magnate himself.) Of course, some of the less rosy chapters in Trump's career are downplayed, and his major bankruptcy problems (and bounce back) happened after this book's initial publication. We strongly recommend it to anyone who wants an entertaining look at some of the actual reality show behind Donald Trump's towering success.
Guest More than 1 year ago
If you have a business or not... this is a must read. I couldn't put this book down once I started. Looking forward to 'Think Like a Billionaire'.
Guest More than 1 year ago
If you love Trump, you must read all books written by him. And if you are going to, Art of the Deal is highly recommended to be the first choice. This book is a hall of fame. Trump, you are brilliant.
Anonymous 5 months ago
good
donnayyonexloyolanaveen More than 1 year ago
Trump is better than really the best he is beats Walmart Sam walton. Waltons with annual earnings in $2.3 billion from dividend income. Waltons may be the richest family, but what use they are now a liability to USA as they are building bunkers for their own safety as too much stolen and hidden wealth by rich is sure to create some war -bio/chem etc. 'moral hazard' and so immoral leaders of the past and thier ghost sni the offices everywhere must be take out. Trump has failed ina few other business ventures -trump Vodka, university. This is where i think Trump Jr and others in family can rectify and build another $billion value franchise. Of course if Trump jr is looking like tom cruise then the second trump jr looks more like some Burt lancaster spy movie villain from German/russian/hungarian with maths/crptyo background and few major hits under his belt such as taking Saddam's missile system, or hacking Iran's nuclear arsenal et. He is in usa to hack the NASA systems having arrived via air france flight and FBI on his trial. So both are looking Hollywood material also. So there is ample scope for Trump to build on his Celebrity apprentice Tv series. I wish Trump good luck and election 2020 and it should be easy with opponents alias traitors fighting such as school boys gold medalist like bernie sander who knows nothing about fraud of obama, clinton, India Putin etc.. and good luck to his supporters like me who were loser/the cheated so far. then so good.
RonShore on LibraryThing More than 1 year ago
I first read this book in 1987 and it's as good today as it was when I first read it. The insights and the trials and tribulations that Trump had to overcome is completely inspiring to anybody who wants to go into business for themselves. Much has been made about Mr. Trump but I can tell you from first hand experience from meeting him that he is a genuinely down to earth man who's easy to talk to and fun to hang out with.
foof2you on LibraryThing More than 1 year ago
This book seems to be an answer to Jerome Tuccille book Trump. Most of the facts dealt with in this book have been dealt with in Tuccille's book. We get the Donald's view of these deals and the fact to Trump the deal is the main thing. Trump only gives us minimal information about his brother Fred and other family details. These are glossed over quickly and with minimal attention. This book gives insight on Trump's thinking, his hatred for governmental studies and his opinion of Mayor Ed Koch.
LindaMorris on LibraryThing More than 1 year ago
Trump is simply the best -- this book is a classic.
Miro on LibraryThing More than 1 year ago
I really liked this book. Trump was lucky in a lot of ways. His father was a successful New York property developer and Donald was his happy assistant form an early age, falling in love with the business.Add to that, natural charm, energy, optimism, tenacity and straight dealing and you have a big success. I found his reflections on business totally useful and original and underlined paragraph after paragraph.Very highly recommended.