Donald Trump is a controversial figure. He is criticized by many but admired by many more. No matter what we think about him, Trump’s success speaks for itself.
Trump’s success and wealth
Trump has always contradicted the figures released by Forbes about his net worth. In 2015, he claimed to be worth 10 billion dollars. However, Forbes gave him just less than a third of that.
As of April 2020, Forbes put Trump’s wealth at 2.1 billion. Here is a breakdown of his financial success in US dollars.
- Commercial real estate – 1.2 billion
- Residential real estate – 148 million
- Hospitality- 38 million
- Hotel licensing and management – 42 million
- Golf courses – 217 million
- Other properties – 205 million
- Cash – 160 million
This puts Trump on the 1001 position of the richest people in the world. He is position 275 in the United States.
Over and above his financial success, Donald Trump is very successful politically. Being the president of the United States makes him the most powerful man in the world.
He has managed to build a name for himself in the real estate, media, and beauty industries among others. The name Trump has been licensed far and wide. By using the name on your product, you can fetch a premium price from your customers.
Facts about Donald Trump
- He was born on June 14, 1946, in Queens, New York City.
- He holds a Bachelors Degree in Economics from Wharton School of the University of Pennsylvania.
- Trump is the 45th President of the United States having assumed office on January 20, 2017. He defeated Hillary Clinton in the 2016 election despite having lost in the popular vote. He ran on the Republican Party.
- Donald Trump inherited his father’s real estate business in 1971 and renamed it The Trump Organization.
- Trump is known for building skyscrapers, hotels, casinos, and golf courses.
- He has had 6 bankruptcy cases.
- He owned The Miss Universe brand of beauty pageants from 1996 to 2015.
- Trump produced and hosted The Apprentice, a reality television series from 2003 to 2015.
- He has been married thrice over his lifetime.
- He was the first American billionaire to become the president of the US.
Trump is running again in the 2020 presidential election against former vice president Joe Biden.
Why Trump is so successful
Donald Trump has a rare set of qualities that sets him apart from the rest of us. These qualities have made him a big success in every field he ventures in.
In this article, we will analyze the reasons why he is very successful in every field. I know we will have something to learn and apply in our lives.
Trump has never lacked confidence. Even amid crisis, he portrays a confident countenance.
Confidence is a product of self-awareness and self-worth. When you know who you are and what you are capable of, you may lack other things but not confidence.
It is this confidence that makes people attempt great things in life. Without it, people tend to coil in a dark corner and do nothing significant in life.
Trump’s confidence is shown in the way he talks, walks, and in the things he has attempted in life. Being a private developer to running for president takes a big chunk of confidence. This is why Trump’s success is magnificent.
Trump has great negotiation skills. His greatest business strategy is to buy properties below their market value and use them to turn a profit.
In his book, The Art of the Deal, he shows his prowess in negotiating for high-end deals. This trait has enabled him to profit not only when selling but when buying.
To be successful, you need to be a good negotiator. I recommend you read Never Split the Difference by Chris Voss the founder of Blackswan Limited. It will give you the necessary negotiation skills you need to succeed.
3. Financial leverage
Trump knows how to use Other People’s Money (OPM) to build his vast empire. He has always been millions in debt. These millions have enabled him to build billions in net worth over time.
To be a success in life, you need to learn how to use other people’s money to work on your dreams. This is because no one can succeed without other people’s input.
If you hate debt, you can never get massive financial success. Financial leverage used properly will catapult anyone to great financial heights.
When Donald Trump was facing bankruptcy, it is the financial institutions that bailed him out. This is what financial leverage can do.
The fact that Donald Trump is controversial earns him free publicity. This publicity has made him famous and built his brand.
Successful people know how to attract free publicity. They understand the power of the media. The media can make you if you let it.
However, to get free publicity, you have to be ready to be criticized. You have to do and say controversial things; things that go against societal beliefs.
5. Hard work
There is no success without hard work. Hard work is the basis of all success.
Trump is said to sleep for only 3-4 hours every day. The average person, on the other hand, sleeps for 7-9 hours. The extra 4-5 hours of work allows Trump to accomplish much more than the ordinary person.
Successful people understand the importance of hard work. Even though nowadays we emphasize on working smart, working hard is still a great success factor.
Even if you work smart, you still have to work hard. This is what success necessitates. Successful people combine the two to get massive success.
6. Communication skills
Donald Trump is a great communicator. He has a way of thrilling his audience and attracting support. If you look at his speeches, he charges the crowd by utilizing well known professional communication tactics.
In this world, it is the people who make you successful. This is why being an effective communicator is important in the success journey.
The problem with many people is that they cannot even address 5 people with confidence. This is why public speaking is feared more than snakes to most people.
Think of Barrack Obama, what made him president? Is it not his captivating speeches? Look at all successful people, when they speak, something sparks in the hearts of people.
Success has everything to do with how you communicate. A great part of communication is public speaking. You have to learn to be a great public speaker if you want to be successful.
7. Business focus
Donald Trump focuses on building his real estate empire. It is real estate that made him a billionaire. Every time he is building hotels, skyscrapers, casinos, or even golf courses, he is doing his core business.
What will you be known for? Think about it. Have a legacy project and concentrate on it until it is a success. After the success, you can then diversify to other projects. This is what successful people do.
When you focus, you avoid wasting energy on many things. However, you can have multiple streams of passive income but focus on your core business activities.
Trump defends his self-interest with all his life. He wants to be the one in control.
The Trump Organization despite being a multi-billion dollar business is still a private organization. This is because Donald Trump wants to keep all the control to himself.
Why does Donald Trump inflate his net worth? This is because he is defending his self-interest. Trump is known as a protectionist. This is because his policies only favor his home country.
To be successful, you have to be ready to defend your interests and dreams with your life. This is because your dreams will be attacked and criticized by many people as you work towards your success
Rise and defend your interest before critics tear you apart.
Trump is excellent at branding. This is why he has made a whopping 42 million dollars in brand licensing. We can confidently say that a good part of Trump’s success is as a result of his branding efforts.
The name Trump was known in every corner even before Donald Trump became president of the United States. From the day he named his father organization, The Trump Organization, he has worked hard to establish the name Trump to what it is today.
Today, people use his name on their properties and pay him for it. Many other products with the name Trump sell at a premium just because of the brand he has built around his name.
To be successful, building a brand is not an option. People have to know your brand as the most reliable and quality-focused.
10. Highly ambitious
Donald Trump is very ambitious. This is why he ran for president even after having great success in private business.
All successful people do not settle for what they have presently; they are always working for more success.
Many average people get some success and they become content. They rest and enjoy life. This contentment is not the quality of any successful person.
To be successful, be happy but not content. Keep working for more. Aim for the stars and do not rest until you get there.
Final thoughts on Donald Trump’s success
As we have seen, Donald Trump’s is not overnight. He has not been lucky in his pursuit of success; he has worked for what he has today.
Although Donald Trump inherited millions, he has multiplied them to billions. This is a true success story.
Let’s recap. 10 secrets to Trump’s success
- Financial leverage
- Hard work
- Communication skills
- Business focus
- Highly ambitious
All the best in your pursuit of success. Learn from Trump’s success journey and get success.
Founder/ C.E.O- Wealthy Wolves Consulting & Giimark Ltd/ Best-selling Author/ Speaker.