4 Ways Fred Trump Made Donald Trump and His Siblings Rich
In Donald J. Trump’s version of how he got rich, he was the master dealmaker who parlayed an initial $1 million loan from his father into a $10 billion empire. It was his guts and gumption that overcame setbacks, and his father, Fred C. Trump, was simply a cheerleader. But an investigation by The New York Times shows that by age 3, Donald Trump was earning $200,000 a year in today’s dollars from his father’s empire. He was a millionaire by age 8. In all, financial records reveal, Mr. Here are four ways that Fred Trump made his children rich. Fred Trump made his son not just his salaried employee but also his property manager, landlord, consultant and banker. Fred Trump provided money for Donald Trump’s car, money for his employees, money to buy stocks, money for his first Manhattan offices and money to renovate those offices. The biggest payday Donald Trump ever got from his father came long after Fred Trump’s death.
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