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Fred TrumpBusinessman and developer, father of US President Donald Trump
Date of Birth: 11.10.1905
Country:  USA |
Content:
- Early Life and Family
- Education and Business Beginnings
- Real Estate Success
- WWII and Postwar Building Boom
- Partnering with Donald Trump
- Philanthropy
- Later Years and Death
- Personal Life
- Controversies
Early Life and Family
Born Frederick Christ Trump on October 11, 1905, in the Bronx, New York, Fred Trump was the son of German immigrants Friedrich Trump and Elizabeth Christ. His father, who arrived in the United States from Bavaria in 1885, made a fortune during the Yukon Gold Rush and married Elizabeth, a fellow German immigrant. Fred had two siblings: an older sister, Elizabeth, and a younger brother, John. The family maintained German traditions and often spoke German at home.
Education and Business Beginnings
Fred Trump attended Richmond Hill High School from 1918 to 1923. He developed a strong work ethic early on, starting as a delivery boy for a butcher at age 10. After his father's death in 1918, Fred was forced to work even harder. He became a construction laborer after graduating high school and at age 15, he partnered with his mother in "Elizabeth Trump and Son." They built and sold houses, with Elizabeth signing all checks until Fred came of age.
Real Estate Success
In 1923, Fred borrowed $800 from his mother to build his first home in Woodhaven. He sold it for a profit of $7,000, demonstrating his entrepreneurial skills. In the late 1920s, he focused on building single-family homes in Queens. During the Great Depression, he capitalized on government housing subsidies, selling homes for $3,990. He also built a supermarket and introduced the self-service concept, generating significant revenue.
WWII and Postwar Building Boom
During World War II, Fred Trump shifted to constructing barracks and housing for Navy personnel. After the war, he specialized in building more substantial housing for veterans' families, creating over 2,700 apartments. In 1963-1964, he oversaw the $70 million Trump Village complex on Coney Island.
Partnering with Donald Trump
In 1968, Fred's son Donald Trump joined his father's business and became its president three years later. In the mid-1970s, Donald received a $1 million loan from his father to start his real estate ventures in Manhattan. Fred Trump continued to operate in Queens and Brooklyn. He was known for his meticulous approach to investing, maximizing profits on each project.
Philanthropy
Despite his business acumen, Fred Trump was generous with his wealth. He supported medical institutions such as the Long Island Jewish Hospital and the Hospital for Special Surgery. He donated land for a Jewish community center in New York City. He also provided financial assistance to the Salvation Army, Boy Scouts of America, and the school his children attended.
Later Years and Death
In his later years, Fred Trump suffered from Alzheimer's disease. He died from pneumonia in 1999 at the age of 93, leaving an estate valued at $250-300 million.
Personal Life
Fred Trump married Mary Ann Macleod, an immigrant from Scotland, in 1936. They had five children: Maryanne (b. 1937), Fred Jr. (1938-1981), Elizabeth (b. 1942), Robert (b. 1948), and Donald (b. 1946). Donald Trump has had a notable career as a businessman, television personality, and politician, becoming the 45th President of the United States in 2017.
Controversies
Fred Trump's business practices faced scrutiny and allegations of wrongdoing. In 1927, he was arrested during a Ku Klux Klan rally; however, no charges were filed. He was also accused of speculative bidding on government contracts and overcharging for construction work. In 1973, the U.S. Department of Justice filed a lawsuit against Fred and Donald Trump for violating the Fair Housing Act.
