How Donald Trump Became A Billionaire
BY EDWARD KLEIN / SEPTEMBER 4, 2015
Most Labor Day weekends, you’d find Donald Trump on a golf course. Not just any golf course, but one of the seven that he owns.
Trump says he’s worth $10 billion—and that he has $300 million in cash and liquid assets sloshing around in his various bank accounts and investment portfolios.
But Trump, who is leading the Republican primary pack in the polls, wasn’t always rolling in dough. Twenty years ago, he was broke.
How did a man who says he knows how to “get things done” go from bankrupt to billionaire?
Not long ago, when I interviewed Trump for a cover story in Newsmax Magazine, I asked him about his remarkable comeback. This is what he had to say:
“When I was in deep shit in the early 1990s, I owed $240 million to a banker. I was at war with this guy.
“One day, I was playing golf at Wingfoot [Golf Club in Mamaroneck, NY] and I ended up playing in his group. I said, ‘Let’s forget our differences and just have fun.’
“I noticed that his grip was all wrong and that all his shots were bad. I told him how to change his grip, and he hit a perfect shot. He ended up playing the best round in his life.
“Before we parted, I said, ‘Can we meet next week and straighten out this business problem?’ He was known as a guy you couldn’t make a deal with. But he said, ‘Yes.’
“We met shortly after that and I made a deal and made a comeback. Without golf, I might not be sitting here today.”