Donald Trump is an outstanding personality known throughout the world. He wrote the book “The Art of the Deal,” where he shared his wealth of experience with readers. The author owns many hotels, casinos, and construction companies, for this reason his advice will definitely be useful.

This is an autobiographical work in which the writer talks about his childhood and environment so that readers can understand how the formation of his personality took place, which provided the preconditions for his development and success. This information can be useful to any novice businessman, those who are just about to start their own business. There are always obstacles to business development, and failures happen quite often. Using Trump as an example, you can see how he overcame all these difficulties.

The author slowly talks about each period of his life. He talks about how he worked as a student in his father’s company, where he gained his first experience. Subsequently, after moving to Manhattan, he saw a huge number of opportunities for business development.

Donald Trump gives examples of what needs to be done to overcome all stages. In the modern world, it is no longer a secret that many officials demand remuneration for their services. Obstacles with paperwork can also significantly slow down the process. The author also gives advice on such issues and, with his examples, teaches novice businessmen how to find a way out of the most difficult situations.

The material is presented in an accessible and concise manner. The reader will be able to appreciate the wit and resourcefulness of Donald Trump by reading how he extricated himself from tricky situations that arose. It's amazing how well Trump managed to convey the strong energy in his work. The irony of some moments in the narrative and the reality of everything described will interest and provide exciting reading.

On our website you can download the book “The Art of the Deal” by Donald Trump for free and without registration in fb2, rtf, epub, pdf, txt format, read the book online or buy the book in the online store.

To my parents, Fred and Mary Trump

TRUMP
THE ART OF THE DEAL
Donald J. Trump
with Tony Schwartz

Preface to the Russian edition

Dear reader!

In the modern world there are many successful businessmen, and a significantly larger number of people who dream of becoming one. Donald Trump's book about his operations in the US real estate market, about interaction with partners, the state, and big capital is interesting not only and not so much as his experience of doing business in the real estate sector - too much separates the developing Russian market and the mature American market. It is interesting, first of all, as a description of the Path to Success, in which many can find universal recipes, and most importantly, grasp the frantic pace and rhythm in which a person lives who has set the goal of achieving success in business. The book acquaints us not only with Trump’s opinions regarding certain issues related to government incentives for business, with technical details - it gives us an idea of ​​​​the way of thinking and style of behavior of a successful person. And as such, I think, it is of significant interest both for people professionally associated with real estate, and for a wide range of readers.
On the other hand, the topic is especially interesting for readers in Russia, where in recent years the real estate market has become one of the most dynamic sectors of the economy. It is difficult to overestimate the impact of this fact - the appearance of cities is changing, grandiose projects for the construction of entire neighborhoods are being implemented, and the cost per square meter is becoming almost an obligatory topic for discussion in any company. This topic is of interest to one and all - large capital financing development projects, the state, and simply all of us, as participants in the housing market, are involved in it.
Bank ZENIT does not remain aloof from the construction boom in Russia. Recently, we have implemented quite a lot of diverse and large-scale projects to attract financing for construction. Among the bank's clients are the largest construction companies of an all-Russian scale, on whose activities both the real estate market and the future appearance of our country depend, and regional companies - leaders of local markets. The volume of financing attracted by the bank for the needs of the construction industry amounts to tens of billions of rubles. We constantly and closely monitor all trends in this industry.
The consequence was our decision to publish, together with Alpina Business Books, a book by one of the most famous players in the US real estate market - Donald Trump.

R. V. Pivkov,
Head of Investment Department
OJSC Bank ZENIT

Acknowledgments

I would like to express my special gratitude to those people who, despite my many responsibilities, made it possible for me to write this book. I am grateful to my wife Ivana Trump and my children for their understanding. Because they were not offended when I devoted my weekends to working on the book. I am grateful to Si Newhouse, who overcame my initial resistance and convinced me to write this book. I am grateful to Howard Kaminsky, Peter Osnos, and many others at Random House for their enthusiasm and enthusiastic support of my efforts.
Tony Schwartz, in turn, would like to express his gratitude to those people who donated their time to help in the preparation of this book, and above all - Robert Trump, Der Skutt, Nick Ribis, Blanche Sprague, Norman Levine, Harvey Freeman, Tony Gliedman, Al Glasgow, John Barry, Dan Cooper. Thanks also to Ruth Mullen, Gail Olsen, Adina Weinstein, Deborah Immergut, and Nancy Palmer for typing, photocopying, editing the book manuscript, and searching and checking facts. I would never have been able to find the time and energy to work on the book without Norma Foerderer. Compassionate Norma, who managed to create a working environment for me, taking upon herself the solution to all distracting problems. I am so grateful to my agent, Kathy Robbins, who went above and beyond by becoming my first editor and confidante. Ed Cosner, editor extraordinaire New York, throughout the entire period of working on the book, was a source of ideas, inspiration and wise advice for me. My daughters Kate and Emily delighted and inspired me with their cheerfulness and enthusiasm. My most ardent and indispensable support came from Deborah, my first reader and editor, my best friend.

Chapter 1. How I do business: a week in the life

I don't do this for the money. I already have a lot of money - much more than I will ever need. I do this for the love of art, as transactions are the art form that my heart is completely devoted to. Some paint beautiful pictures or write wonderful poems. I love making deals, preferably big ones. And this gives me extraordinary pleasure.
Many people are surprised by the style of my work. I don't carry a briefcase with business papers. I try not to overload my day with appointments and meetings. I'm always open to new opportunities. I am sure that an overly busy schedule stifles entrepreneurship and limits the flight of imagination. That's why I never commit myself to a rigid weekly schedule.
I usually wake up early - around six in the morning. I devote about an hour to reading the morning newspapers. I usually show up at the office by 9:00 and immediately get on the phone. It’s rare that I have fewer than 50 calls on a day, and often their number exceeds a hundred. In between telephone conversations, I conduct at least a dozen meetings. Most are fast paced and few last longer than 15 minutes. While working, I rarely break for lunch. I usually leave the office at 6:30 p.m., but the work doesn’t end there—sometimes the phone rings until midnight.
This cycle never stops, but I probably wouldn’t agree to work differently. I always try to learn from the past, plan for the future, but focus solely on the present. And this is the most exciting thing. What is the essence of business if not this?

Monday

9:00. My first call is to Alan (Ace) Greenberg on the trading floor of Bear Stearns, Wall Street's leading investment bank. Alan is the bank's president and has been my longtime investment banker for the past five years. And he is the best of the best. Two weeks ago we started buying shares of Holiday Inns, which were selling for about $50. This morning Alan reported that I already have about a million shares - a little more than 4% of the total stake. Last Friday, at the close of the stock exchange, the share price rose to $65. Perhaps because of leaked rumors that I was buying them up and even intended to take a controlling stake.
I haven't really decided anything yet. You can actually get a controlling stake in this company, which, in my opinion, is somewhat undervalued. At the current stock price, I can do this for less than $2 billion. That's roughly what three Holiday casino hotels are worth, and the company also has hotels with 300,000 rooms.
I can resort to another option. If the stock price continues to rise, then by selling my share, I will make a good profit. If I did this today, I would make about $7 million. The third possibility is that Holiday Inns suddenly wants to buy back its shares and offers a higher price just to get rid of me. If this price is acceptable, I will immediately sell my package.
In any case, I am watching with interest how far the company's management will take it in an attempt to maintain what they proudly call independence. In fact, this is nothing more than an attempt to retain their positions.
9:30. Abraham Hirschfeld calls me, he needs advice. Abe is a prosperous real estate developer, but he dreams of going into politics. Unfortunately for Abe, he is a much better developer than a politician.
This fall he ran for lieutenant governor of the state. His opponent was the protege of the current Governor Cuomo, Stan Lundine. The governor filed a case to exclude Hirschfeld from the list of candidates on formal grounds, and the court actually removed him from the race in the midst of the election campaign. Abe knows about my friendly relationship with the governor and wants advice on whether he should support Cuomo's party or defect to the camp of his opponents. I answer that there is nothing to talk about: you should stick to the winning side and the good guys there. We agree to meet on Thursday.
10:00. I would like to thank WNBC employee Don Imas, host of one of the most popular radio shows in America. Don helped raise funds for the Annabela Hill Foundation.
One can't help but marvel at how quickly this private matter turned into a news event. It all started last week when Tom Brokaw made national television news about Annabel Hill, a charming little old lady from Georgia who was trying to fight the bank that had foreclosed on her family's mortgage on the family farm. A few weeks earlier, her 67-year-old husband had committed suicide in the hope that insurance money would help save the farm. But this money turned out to be not enough. I was touched by this family's desperate attempts to win a hopeless game. People who had worked honestly all their lives were about to see their life’s work perish. I decided that this was unfair.
Through NBC I connected with a wonderful guy from Georgia, Frank Argenbright, who showed great concern for Mrs. Hill. He gave me the contact information for the bank that held the mortgage on the Hill family farm. The next morning I called the bank and got through to one of the vice presidents. I introduced myself as a businessman from New York and said that I would like to help Mrs. Hill. He replied that he was very sorry, but time had already passed and nothing could be done. The farm will be sold at auction and “nothing and no one will be able to prevent this.”
His categoricalness angered me. I said, “Listen to me, boy. If the bank really auctions off the farm, I will personally sue you and this bank of yours for driving Mrs. Hill's husband to suicide." The “vice guy” was clearly nervous and promised to contact me a little later.
Yes, sometimes it really doesn’t hurt to show your claws a little. The banker called back an hour later and said in a different tone: “Don’t worry, we’ll see what we can do, Mr. Trump.”
Mrs. Hill and Frank Argenbright went to the media, and I soon learned that the story was getting the biggest coverage on NBC.
By the end of that week, we had raised $40,000. Imas alone had managed to raise $20,000 through his radio calls. We decided to give Mrs. Hill and her family a Christmas gift and scheduled a mortgage-burning ceremony for the farm on Christmas Eve. This event was supposed to take place in the atrium of Trump Tower (one of the high-rise buildings built by Donald Trump in a prestigious area of ​​Manhattan. - Note lane). By that time, I was already confident that we would be able to raise the money needed to buy out the mortgage. I promised Mrs. Hill that if the money was not enough, I would add the required amount.
I told Don Imas that he was the best guy in the world and invited him to go to a U.S. Cup tennis match with me next week. Open. I have my own box, and I try not to miss the most interesting competitions. However, there is little free time, so I mostly send my friends to the court.
11:15. United States Football League (USFL) Commissioner Harry Usher is calling. Last month, we filed a lawsuit accusing the National Football League (NFL) of violating antitrust laws. And although the court found that the NFL was a monopoly, it awarded us only token damages of one dollar. I have already allowed the best players on my team, the New Jersey Generals, to sign with the NFL, but I continue to find the court's decision offensive to us.
We argued a little with Harry about what line we should follow in the future. I, for one, would prefer a more offensive approach. “What worries me,” I told Harry, “is that no one is really trying to get an appeal in this case.”
12:00. Gary Schoenfeld, the head of the Shubert Organization, which owns several Broadway theaters, called and recommended his friend to me for the position of office administrator. He insisted that she only wanted to work with me, Donald Trump. I jokingly suggested that she must be crazy, but that I would be very curious to meet her.
We chatted a bit about the theater business and I told Garry that I was going to take my kids to see the musical Cats for the second time. He asked if I had contacted his office for tickets, to which I replied that I did not like such cronyism. “Don’t be silly,” answered Harry, “we have a special employee whose duties include providing theater tickets for my friends. Write down her phone number, she will be happy to help you.”
This is such a nice gesture from a nice man.
13:15 . Anthony Gleadman stopped by to discuss some things about the Wallman Rink project. When Ed Koch was mayor of New York, Gliedman was a member of the city's Housing Commission. Although at one time we had a little conflict with him and I even won a case against him in court, I always respected Tony. He is a great specialist. I never hold a grudge against those who opposed me, and I always try to attract talented people to the cause.
Tony helps coordinate the redevelopment of the Wallman Rink in New York's Central Park, a project that the city successfully failed for seven years. In June, I offered my services to implement it, and now we are ahead of schedule. Tony said he is holding a press conference on Thursday to mark the start of the final phase of construction - pouring concrete.
However, it seemed to me that this was not enough news. I asked who from the press would be present at this event. Tony said that at least a dozen news companies have already confirmed their intention to send correspondents. Too much, in my opinion.
14:00 . I must give written testimony in a lawsuit we filed against the contractor who built my Trump Tower. In the midst of work, we had to refuse the services of this company due to its complete incompetence, and then go to court to seek compensation for damages.
I hate litigation, all kinds of testimony and so on. But, if you are right, you need to defend your position, otherwise they will simply eat you. In any case, it seems that there is no way for me to avoid dealing with the court in the future, even if I myself never file lawsuits. If your name is Donald Trump, everyone will want to sue you.
15:00. I ask my personal assistant and assistant, Norma Foerderer, to bring me lunch. Norma is an irreplaceable person; she brings order to my business life. Now she is bringing me a jar of tomato juice. I rarely go out to eat, most of it is a waste of time.
15:15. I'm calling Charles Goldstein. He's out of town, so I leave him a message on his answering machine. Goldstein is a successful real estate lawyer, but I don't like him.
I'm pretty sure he's from the Bronx, but the guy is so pompous and important and carries himself like an august person, so I call him "Sir Charles." Last weekend I learned that Lee Iacocca had hired Goldstein to represent him in a case in Palm Beach, Florida, where Lee and I had agreed to be partners. I suspect that Lee has not yet heard about my sad experience with Sir Charles.
The fact is that not long ago I prepared a deal with a guy who at that time needed the services of a lawyer. I recommended Goldstein to him. And suddenly I find out that Sir Charles is advising his client not to enter into this deal with me. I just couldn't believe my ears!
This case in the Palm Beach area involved the joint ownership purchase of two skyscraper towers. I have my own home in Palm Beach, in a great place called Mar-a-Lago. One weekend last winter, I had dinner with friends while spending a weekend there. On the way to the restaurant, my attention was attracted by two beautiful snow-white towers. After making a couple of calls, I learned that it cost $120 million to build them and that just recently a large New York bank had refused to foreclose on the property. I had an idea: shouldn’t I try to buy up this project for $40 million?
A mutual friend of ours, William Fugatsi, was the first to come up with the idea to do this real estate deal with Lee. I consider Lee to be an outstanding businessman who literally performed miracles in reviving Chrysler. Besides, I know him well personally. And now we are already discussing the possibility of this transaction, associated with significant capital investments. I'm not entirely sure yet that Lee is determined to take part in it. If this is so, then it seems to me that he made a somewhat strange move by inviting Sir Charles, whom I dislike so much, as a lawyer. And that's what I'm going to tell Sir Charles when he calls back.
15:30. I'm calling my sister, Marian Barry, to discuss the recent court decision in the Atlantic City case. Marian is a federal court judge in New Jersey, and her husband, John, is a gifted lawyer whose services I use often.
“No, well, can you believe that they ruled against us?” - I ask my sister. Marian is an excellent specialist in her field. She knows much more about the law than I do, and is just as surprised as I am. I inform her that I will order that all materials in this case be immediately sent to John so that he can prepare an appeal.
16:00. I go to the conference room to look at the slides with the project for the Christmas decoration of the atrium at Trump Tower. This six-story pink marble atrium with a beautiful 80-foot fountain has become one of New York's tourist attractions. Every week, more than 100 thousand tourists from around the world visit Trump Tower to look at it and shop. This atrium has become the symbol of my company, the Trump Organization. That's why I pay so much attention to such seemingly unimportant details as Christmas decorations.
I did not like the proposed design project. The only thing that caught my attention was the amazing golden garland intended to decorate the main entrance. We decided to use only it. It turned out according to the old rule: the less, the better.
16:30. Call from Nicholas Ribis. This is my New Jersey attorney who was successful in obtaining the license for my two casinos in Atlantic City. He says that he is going to Sydney, Australia, on a matter in which I am interested. Ribis complains that the flight to Sydney lasts a whole day, but I, frankly, am glad that he flies there instead of me.
But this deal may be worth the long journey. The NSW government is about to make a decision on which company will be awarded the contract to build and manage the casino. It, according to the creators of the project, should become the largest in the world. In this race, all the advantages are on our side, so Nick flies to Sydney to meet with officials and put the finishing touches on this matter. He promises to call as soon as he has any news.
17:15. I'm calling Henry Kanegsberg, the NBC executive responsible for choosing a new location for the company's headquarters. We've been courting NBC board members for over a year now, trying to convince them to move their offices to the building I intend to build on the West Side.
I bought this 78-acre site on the banks of the Hudson about a year ago and have already announced my plans to build the tallest skyscraper in the world there.
I know that Henry has already seen our latest development plans, and I continue to convince him. I told him that Bloomingdale's was eager to become our flagship store in the area. I also did not fail to inform him that the city authorities also showed a lot of enthusiasm in connection with our plans. Then I noticed that all the necessary papers would be received within the next few months.
I felt that I had managed to infect Henry with my confidence. Before ending the conversation, I again brought to his attention the fact that NBC would be located in the tallest building in the world. “Think how symbolic this will be!” – I said finally.
17:45. My nine-year-old son Donny called to ask when I would be home. No matter what I do, I always answer my children's calls. I have three of them, I also have a six-year-old daughter, Ivanka, and a three-year-old Eric. In fact, the older they get, the better I get at being a father. I just adore my children, but I’m not very good at playing with dolls and cars with them, so now that Donnie has grown up and become interested in real estate and sports, it has become easier for me to find a common language with him.
I say I'll come as soon as I can, but Donny insists on an exact answer. He probably inherited my genes; a vague answer does not satisfy him.
18:30. After calling a number of other places, I take the elevator up to the residential part of Trump Tower. At home I will, of course, make a few more calls.

Tuesday

9:00. My first call is to Ivan Boesky. I understand that he and his wife own a controlling interest in the Beverly Hills Hotel and, as I hear, intend to sell it. Little did I know that just two weeks later Ivan would plead guilty to securities fraud. It was for this reason that he was so eager to quickly sell the hotel off his hands. He really needed cash.
I decided it would be a good idea to bring in Steve Rubell and Ian Schrager to run the hotel. These guys were the creators of the super fashionable clubs “Studio 54” and “Palladium”. Steve is a consummate promoter, and he will certainly make the Beverly Hills Hotel a hot spot again. So, I called Boschi and expressed interest in purchasing. He replied that Morgan Stanley and Company was handling the transaction and that their representative would contact me shortly.
In general, I really love Los Angeles. I spent many weekends there in the 70s and always stayed at the Beverly Hills. But in business, I don't let my personal tastes take precedence over common sense. No matter how much I love this hotel, no matter what pleasant memories I have with it, I will decide to buy it only if it can be done for a much lower price than the original asking price.
9:30. A call from Alan Greenberg. We became the owners of another 100 thousand shares of Holiday Inns. The price for them rose another one and a half points. There is great activity on the stock exchange around them. I tell Alan that, according to rumors, the bosses of Holiday Inns are in a panic, constantly holding emergency meetings, deciding what measures to take in response to my attack. He suggests that they will use "poison pills" to fend off my hostile takeover attempt.
That's why I love Alan, it's his brevity - he's not used to wasting time: our conversation lasts no more than two minutes.
10:00. Meeting with the contractors who are building a parking lot for 2,700 spaces on the Broadwalk in Atlantic City, opposite Trump Plaza. They must report on the progress of this $30 million project. So far we are on time and within budget.
This multi-story parking lot will be ready in time for May 30, 1987, Memorial Day, the biggest holiday in the city, and it will provide us with huge profits. Now things are going well even without any parking. Our construction site is located just at the end of the main street that ends at Broadwalk, and is connected by a pedestrian street to our casino. So almost anyone who parks a car in a new parking lot will inevitably fall into our hands.
11:00. I am receiving in my office one of the leading bankers in New York. He came to find out if I needed money for new projects, we talked about general business topics.
Here’s an interesting thing: now bankers themselves come to me and ask if I’m interested in a loan. They already know who to trust with their money.
12:15. Norma came by to tell me that the press conference at Wallman Rink would have to be rescheduled from Thursday to Wednesday. New York City Park Commission Commissioner Henry Stern is scheduled to attend the grand opening of a new entertainment complex on the Upper West Side of Central Park on Thursday. The invitation was signed by the famous singer Diana Ross.
The problem is that we will not be able to postpone the start of concrete pouring. This is due to a number of technical requirements. But what the hell?! I’ll reschedule it anyway, I don’t want to cause Henry any unnecessary difficulties. Last week he suffered enough - the security service did not allow him to enter the skating rink construction site, requiring my written consent. The security, of course, are great, but here they went too far. You can imagine how Henry “liked” this.

The art of making a deal Donald Trump

(estimates: 1 , average: 5,00 out of 5)

Title: The Art of the Deal
Author: Donald Trump
Year: 2008
Genre: Biographies and Memoirs, Foreign business literature, Foreign applied and popular science literature, Foreign psychology, Foreign journalism, Personal growth, Popular about business, Self-improvement, Management, personnel selection

About the book “The Art of the Deal” by Donald Trump

American businessman and extravagant reality show host Donald Trump, who owns large construction and media companies, hotels and casinos around the world, even before becoming known to the general public as a politician and participant in the 2016 presidential race, published an autobiographical book “Art to make deals".

A masterful artistic presentation of biographical information through the mouth of the author can serve as an excellent guide for aspiring entrepreneurs, on whose path a lot of obstacles and failures will inevitably arise. Starting with memories of childhood and youth, acquaintance with members of a large family, descriptions of the environment that shaped the author’s integral personality, Donald Trump slowly talks about the thorny path to success and the prerequisites for the development of his successful career.

Donald overcame the first rung of the career ladder by working in his father's company while a college student. A further move to Manhattan opened the door to big business for the aspiring businessman. An energetic approach to routine work on the largest projects in the growing metropolises of America and a lot of obstacles in the path of a charismatic businessman formed the basis of Trump’s literary creation.

The author's resourcefulness and wit have helped out more than once in unusual situations. Using examples of the construction of famous skyscrapers and large gambling establishments from chapter to chapter, Donald Trump shares techniques for overcoming serious bureaucratic obstacles of corrupt officials and personal recipes for resolving funny situations, laying out all the ins and outs of the world of big construction business.

The autobiographical treatise “The Art of the Deal” is presented clearly and concisely, sometimes ironically while describing various situations that the author had to face. Interest in reading is not lost until the very end and leaves a pleasant impression. The reader who picks up a book by Donald Trump for the first time is charged with the powerful energy of the author.

Fans of Trump's writing talent note that they found a lot of useful information in the book, although the author's work does not answer questions directly, encouraging them to speculate and look for a way out on their own. Literary critics have noted that The Art of the Deal is easy to read and can be useful for people who want to start their own business.

On our website about books lifeinbooks.net you can download for free without registration or read online the book “The Art of the Deal” by Donald Trump in epub, fb2, txt, rtf, pdf formats for iPad, iPhone, Android and Kindle. The book will give you a lot of pleasant moments and real pleasure from reading. You can buy the full version from our partner. Also, here you will find the latest news from the literary world, learn the biography of your favorite authors. For beginning writers, there is a separate section with useful tips and tricks, interesting articles, thanks to which you yourself can try your hand at literary crafts.

Unlike many people who have achieved enormous success in any field and become “icons” for future generations of businessmen and politicians, Donald Trump I didn’t start my business from scratch. His father, Fred Trump, provided his son with excellent starting capital, and also taught him from childhood that to achieve success you need to work hard. Immediately after Donald graduated from business school, he began to take an active part in the management of his father's company. However, he soon began to think about starting a new project, his own, which was supposed to generate significantly more income than building economy class housing and collecting rent from tenants.

Possessing business acumen and being confident in his abilities, Donald Trump was able to successfully implement projects that many seemed simply impossible. So, he took up restoration of the Commodore Hotel when he was in extremely poor condition. Major players in the real estate market predicted bankruptcy for him, however, to the surprise of many, this project was successfully implemented, and Trump himself acquired a reputation as a serious businessman. His next project was the construction of the Trump Tower skyscraper on one of the most famous streets in New York - Fifth Avenue. Donald from the very beginning tried to turn his name into a real brand, which he managed to do after the construction of Trump Tower.

It would be wrong to think that the billionaire did not suffer failures. Donald Trump was bankrupt twice, but both times he managed to get out of the debt hole, restore and even increase his capital. Today his condition is estimated at $4 billion.

7 simple truths from Donald Trump

The appearance of a businessman is very important

According to Donald himself, an expensive suit and high-quality shoes are half the success in business negotiations. If you show up to a deal wearing a $100 suit, it won't be a suit, but you'll look cheap.

“If you want to make a serious deal, you should only deal with the one at the very top” D. Trump

Your own financial advisor

It is very important to know how to choose a financial advisor, otherwise you risk leading your company to complete collapse. Trump himself was extremely reluctant to use the services of such specialists.

“If you want to get something, think as if you already have it” D. Trump

Give back

One of Donald Trump's life principles is an eye for an eye. He always recommends being distrustful as much as possible and responding proportionately to any external pressure.

“The business world is a jungle. Therefore, never show your weaknesses and never turn your back.” D. Trump

Listen to your intuition

When running a business, it is very important to be able to listen to yourself, to your intuition and to be able to correctly understand the signs that our body gives us.

“Initiative, like a joke, is good at the right moment” D. Trump

Little things matter too

It is necessary to thoroughly study the problem before attempting to fix it. Otherwise, you risk creating additional troubles for yourself.

“If you want to buy something, you should always convince the seller that his product is not that good” D. Trump

Marriage contracts

Donald Trump is an ardent supporter of prenuptial agreements and considers their conclusion a vital necessity.

“If I had not entered into a prenuptial agreement, this book would have been written by a man who lost a lot.” D. Trump

In addition to his biography and success story, Donald Trump’s book “The Art of the Deal” contains excerpts from public speeches, a personal worldview, as well as some rules for doing business by one of the most successful businessmen of the 20th century. It can become a real guide, both for entrepreneurs and for people whose line of work is not related to running a business!

Donald Trump

The art of making a deal

To my parents, Fred and Mary Trump

THE ART OF THE DEAL

with Tony Schwartz

Preface to the Russian edition

Dear reader!

In the modern world there are many successful businessmen, and a significantly larger number of people who dream of becoming one. Donald Trump's book about his operations in the US real estate market, about interaction with partners, the state, and big capital is interesting not only and not so much as his experience of doing business in the real estate sector - too much separates the developing Russian market and the mature American market. It is interesting, first of all, as a description of the Path to Success, in which many can find universal recipes, and most importantly, grasp the frantic pace and rhythm in which a person lives who has set the goal of achieving success in business. The book acquaints us not only with Trump’s opinions regarding certain issues related to government incentives for business, with technical details - it gives us an idea of ​​​​the way of thinking and style of behavior of a successful person. And as such, I think, it is of significant interest both for people professionally associated with real estate, and for a wide range of readers.

On the other hand, the topic is especially interesting for readers in Russia, where in recent years the real estate market has become one of the most dynamic sectors of the economy. It is difficult to overestimate the impact of this fact - the appearance of cities is changing, grandiose projects for the construction of entire neighborhoods are being implemented, and the cost per square meter is becoming almost an obligatory topic for discussion in any company. This topic is of interest to one and all - large capital financing development projects, the state, and simply all of us, as participants in the housing market, are involved in it.

Bank ZENIT does not remain aloof from the construction boom in Russia. Recently, we have implemented quite a lot of diverse and large-scale projects to attract financing for construction. Among the bank's clients are the largest construction companies of an all-Russian scale, on whose activities both the real estate market and the future appearance of our country depend, and regional companies - leaders of local markets. The volume of financing attracted by the bank for the needs of the construction industry amounts to tens of billions of rubles. We constantly and closely monitor all trends in this industry.

The consequence was our decision to publish, together with Alpina Business Books, a book by one of the most famous players in the US real estate market - Donald Trump.

R. V. Pivkov,

Head of Investment Department

OJSC Bank ZENIT

Acknowledgments

I would like to express my special gratitude to those people who, despite my many responsibilities, made it possible for me to write this book. I am grateful to my wife Ivana Trump and my children for their understanding. Because they were not offended when I devoted my weekends to working on the book. I am grateful to Si Newhouse, who overcame my initial resistance and convinced me to write this book. I am grateful to Howard Kaminsky, Peter Osnos, and many others at Random House for their enthusiasm and enthusiastic support of my efforts.

Tony Schwartz, in turn, would like to express his gratitude to those people who donated their time to help in the preparation of this book, and above all - Robert Trump, Der Skutt, Nick Ribis, Blanche Sprague, Norman Levine, Harvey Freeman, Tony Gliedman, Al Glasgow, John Barry, Dan Cooper. Thanks also to Ruth Mullen, Gail Olsen, Adina Weinstein, Deborah Immergut, and Nancy Palmer for typing, photocopying, editing the book manuscript, and searching and checking facts. I would never have been able to find the time and energy to work on the book without Norma Foerderer. Compassionate Norma, who managed to create a working environment for me, taking upon herself the solution to all distracting problems. I am so grateful to my agent, Kathy Robbins, who went above and beyond by becoming my first editor and confidante. Ed Cosner, editor extraordinaire New York, throughout the entire period of working on the book, was a source of ideas, inspiration and wise advice for me. My daughters Kate and Emily delighted and inspired me with their cheerfulness and enthusiasm. My most ardent and indispensable support came from Deborah, my first reader and editor, my best friend.

Chapter 1. How I do business: a week in the life

I don't do this for the money. I already have a lot of money - much more than I will ever need. I do this for the love of art, as transactions are the art form that my heart is completely devoted to. Some paint beautiful pictures or write wonderful poems. I love making deals, preferably big ones. And this gives me extraordinary pleasure.

Many people are surprised by the style of my work. I don't carry a briefcase with business papers. I try not to overload my day with appointments and meetings. I'm always open to new opportunities. I am sure that an overly busy schedule stifles entrepreneurship and limits the flight of imagination. That's why I never commit myself to a rigid weekly schedule.

I usually wake up early - around six in the morning. I devote about an hour to reading the morning newspapers. I usually show up at the office by 9:00 and immediately get on the phone. It’s rare that I have fewer than 50 calls on a day, and often their number exceeds a hundred. In between telephone conversations, I conduct at least a dozen meetings. Most are fast paced and few last longer than 15 minutes. While working, I rarely break for lunch. I usually leave the office at 6:30 p.m., but the work doesn’t end there—sometimes the phone rings until midnight.

This cycle never stops, but I probably wouldn’t agree to work differently. I always try to learn from the past, plan for the future, but focus solely on the present. And this is the most exciting thing. What is the essence of business if not this?

Monday

9:00. My first call is to Alan (Ace) Greenberg on the trading floor of Bear Stearns, Wall Street's leading investment bank. Alan is the bank's president and has been my longtime investment banker for the past five years. And he is the best of the best. Two weeks ago we started buying shares of Holiday Inns, which were selling for about $50. This morning Alan reported that I already have about a million shares - a little more than 4% of the total stake. Last Friday, at the close of the stock exchange, the share price rose to $65. Perhaps because of leaked rumors that I was buying them up and even intended to take a controlling stake.

I haven't really decided anything yet. You can actually get a controlling stake in this company, which, in my opinion, is somewhat undervalued. At the current stock price, I can do this for less than $2 billion. That's roughly what three Holiday casino hotels are worth, and the company also has hotels with 300,000 rooms.

I can resort to another option. If the stock price continues to rise, then by selling my share, I will make a good profit. If I did this today, I would make about $7 million. The third possibility is that Holiday Inns suddenly wants to buy back its shares and offers a higher price just to get rid of me. If this price is acceptable, I will immediately sell my package.

In any case, I am watching with interest how far the company's management will take it in an attempt to maintain what they proudly call independence. In fact, this is nothing more than an attempt to retain their positions.

9:30. Abraham Hirschfeld calls me, he needs advice. Abe is a prosperous real estate developer, but he dreams of going into politics. Unfortunately for Abe, he is a much better developer than a politician.

This fall he ran for lieutenant governor of the state. His opponent was the protege of the current Governor Cuomo, Stan Lundine. The governor filed a case to exclude Hirschfeld from the list of candidates on formal grounds, and the court actually removed him from the race in the midst of the election campaign. Abe knows about my friendly relationship with the governor and wants advice on whether he should support Cuomo's party or defect to the camp of his opponents. I answer that there is nothing to talk about: you should stick to the winning side and the good guys there. We agree to meet on Thursday.

10:00. I would like to thank WNBC employee Don Imas, host of one of the most popular radio shows in America. Don helped raise funds for the Annabela Hill Foundation.