Donald Trump rakes in millions selling name to world
The billionaire cleans up on deals with real estate developers who want the cachet from his brand.
It's a winning formula, and Donald Trump has used it many times. "It's not even a question of ego," Trump told The Wall Street Journal. "It's just that my name makes everything more successful."
And that's exactly why Trump can get away with selling his name to real estate developers in Turkey, the Philippines and Brazil. This week, he's unveiling a hotel and condo tower in Vancouver, British Columbia, that will also have his name.
Trump is not building these facilities. Instead, he sells the developers the right to use his name for between $5 million and $10 million, the paper reports. Often, he also takes a cut of future sales or management deals at the property.
With the volatility in global real estate markets, Trump says it's better to sell his name than to jump into the property-building business. "It's a hell of a formula," he said. "The brand is so hot. I made millions of dollars, and I was able to skip this really bad market."
Americans have plenty of opinions about Trump. He's a genius. He's a blowhard. He's a business icon. He's a dimwit.
But overseas, the Trump message is pretty clear to people who watch "The Apprentice." Trump equals big business and money.
And in busy Pune, India, with a population of more than 5 million, that's all one real estate company needs for the two 23-story towers that will eventually bear Trump's name. "Everyone wants to buy the best house. That's the mentality," a director with the real estate company told The Wall Street Journal.
More on moneyNOW
- EA's Simpsons game triggers gun fans' ire
- Morning coffee just killed your creativity
- New $25K rifle is fully loaded -- and then some
So, he doesn't consider that this somehow deludes those then convinced that his perceived standards of quality are inherent in the project. If the developer skimps on quality and sells
the inferior work as "Trump-quality", does it matter that people are fooled into parting with more money than the project is worth? Only to those concerned with ethics and human decency, which of course, Trump himself continually demonstrates he does not.
I hope they learn what the real Trump is like, but it will probably be too late.
Everytime I go to Fort Lauderdale, FL I see the empty Condo/Hotel he built on the Beach - investors lost thousands of dollars, of course, he made money.
For the people who say trump is a Jerk, dim witt,etc, give me a break. question?who really is the Jerks ha ha ha,come on,where does this hate come from?the only time I see this kind of hate is when the Dems talk about the conserveatives,could this be political,if so, its so verry verry sad, that people can't Judge other people with out looking past politices,come on guys and gals,let get together and judge people on their merits and not hearsay or there political views, Charles E Knowles, Nassau np Bahamas.
Copyright © 2014 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
[BRIEFING.COM] The major averages ended the midweek session on a flat note after spending the day inside narrow ranges. The S&P 500 hovered near the 2,000 mark for the majority of the trading day, but slumped to new lows during the last hour of action. The index then returned to its flat line, where it settled for the day. For the third day in a row, participation left a lot to be desired with just 487 million shares changing hands at the NYSE.
Equity indices opened with slim gains, ... More
More Market News
The stock rises 9% after the company reveals strong second-quarter results.
MUST-SEE ON MSN
- Video: Easy DIY smoked meats at home
A charcuterie master shares his process for cold-smoking meat at home.
- Jetpacks about to go mainstream
- Weird things covered by home insurance
- Bing: 70 percent of adults report 'digital eye strain'