Donald Trump - The Art of the Deal

THE GAMESMANSHIP OF DEALMAKING IS HIS SPORT. Like him or hate himjust dont ignore him Cary Grant had his accent; Clark Gable his pencil mustache. Donald Trump has his money and power, and like the other romantic heroes, he knows what to do with them we are swept into the romance.

Chicago Sun-Times

FASCINATING WHOLLY ABSORBING conveys Trumps larger-than-life demeanor so vibrantly that the readers attention is instantly and fully claimed.

Boston Herald

A CHATTY, GENEROUS, CHUTZPA-FILLED AUTOBIOGRAPHY AND HOW-TO GUIDE. As Trump defines deal-makingsomething he clearly loves more than anything else in the worldone of the most important factors is the ability to deliver the goods. And he does in The Art of the Deal.

New York Post

THE MAN HAS FLAIR. It should be read because Trump is one of the Great Characters who help define New Yorks peculiar urban style.

The New York Times Book Review

A COMPELLING ACCOUNT of a man who used what he gleaned from his father to become one of the richest and highly visible men in the nation.

Chattanooga News-Free Press

TRUMP UNVARNISHEDAMBITIOUS AND UNAFRAID. I found it fascinating all the way.

M IKE W ALLACE , CBS News

ONE OF THE MOST STREETWISE BUSINESS BOOKS I HAVE EVER READ. An unguarded look at the mind of a brilliant entrepreneur. Donald Trump is blunt, brash, surprisingly old-fashioned in spots and always an original.

Milwaukee Journal

FAST-PACED PROSE ABOUT A NO-NONSENSE COMER. Want to make a deal? Or be a big-time real estate tycoon? If so, here is a handbook by a master wheeler-dealer and consummate real estate entrepreneur that might give you some ideas.

Virginian-Pilot and Ledger-Star

DONALD TRUMP IS A DEAL MAKER. HE IS A DEAL MAKER THE WAY LIONS ARE CARNIVORES AND WATER IS WET.

San Diego Union

THE HOW-TO MEMOIRS OF A MODERN MIDAS.

The Boston Globe

READS LIKE A NO-HOLDS-BARRED ACCOUNT. The world it revealsthe world of doing deals and moving casinos and hotels around like so many pieces on a Monopoly boardis wonderfully glamorous.

New Woman

IF YOUR GOAL IS TO MAKE A MILLION, READ THIS BOOK.

Times Picayune, New Orleans

BOASTFUL BOYISHLY DISARMING THOROUGHLY ENGAGING offers an inside look at aspects of financing, development and construction in big-time New York real estate.

Publishers Weekly

TRUMP WRITES CANDIDLY AND AT TIMES BRASHLY OF HIS WORLD OF HIGH DEALING. The result is a fascinating look at a hustler who credits success to hard work, the art of persuasion and creative imagination.

Worcester (MA) Sunday Telegram

HIS LIFE STORY IS WORTH WRITING AND WORTH READING.

Tulsa World

AN ENGAGING ACCOUNT OF LIFE AS A MAJOR-LEAGUE HUSTLER. Candid (to the point of bluntness), Trump offers insights as well as intelligence on what it takes to succeed in big business.

Kirkus Reviews

OFFERS A PRIMER FOR THOSE WHO WOULD FOLLOW HIS PATH TO THE TOP. Trumps life is dramatic proof that the rewards are there for those who dare.

The Berkshire Eagle

HE IS THE LATEST OF A BREED UNIQUE TO THIS DECADEA SUPERSTAR MEMBER OF THE BUSINESS WORLD. Trump: The Art of the Deal may be worthwhile just for the insight it gives on life in the big league.

Toledo Blade

A CANDID LOOK AT HOW THIS ENFANT WONDERFUL OF REAL-ESTATE DEVELOPMENT DOES IT ALL.

Cosmopolitan

A SIZZLING READ. He names names, spells out the zeros and fully reveals the deal-makers art.

South Bend Tribune

TRUMP DEALS A WINNER WORTH READING.

Wilmington Evening Journal

AMERICAS MOST GLAMOROUS YOUNG TYCOON REVEALS HIS SUCCESSFUL GAME PLAN [and] even those who have little interest in real estate, New York politics or get-rich formulas will have to admit that this book is fun to read.

San Antonio Express and News

THE MOST DOWN-TO-EARTH GUIDE TO MAKING A BILLION YOU WILL EVER READ.

The Washington Times

Also by Donald J. Trump

Surviving at the Top

The Art of the Comeback

The America We Deserve

How to Get Rich

Think Like a Billionaire

The Art of the Deal is a commonsense guide to personal finance. In practical-advice books, as in life, there are no guarantees, and readers are cautioned to rely on their own judgment about their individual circumstances and to act accordingly.

A Ballantine Book
Published by The Random House Publishing Group

Copyright 1987 by Donald J. Trump

All rights reserved.

Published in the United States by Ballantine Books, an imprint of The Random House Publishing Group, a division of Random House, Inc., New York, and simultaneously in Canada by Random House of Canada Limited, Toronto.

Ballantine and colophon are registered trademarks of Random House, Inc.

www.ballantinebooks.com

eISBN: 978-0-307-57533-3

v3.1_r3

To my parentsFred and Mary Trump

I owe special thanks to several people who made it possible for me to complete this book in the face of my other responsibilities. Ivana Trump, my wonderful wife, and my three children were understanding about the many weekends that I spent working on the book. Si Newhouse first came to me and convinced me to do a book despite my initial reluctance. Howard Kaminsky, Peter Osnos, and many others at Random House have been enthusiastic, energetic supporters of the book.

Tony Schwartz wishes to thank the many people who gave generously of their time, in particular, Robert Trump, Der Scutt, Nick Ribis, Blanche Sprague, Norman Levine, Harvey Freeman, Tony Gliedman, Al Glasgow, John Barry, and Dan Cooper. For typing, photocopying, copyediting, research, and fact checking, thanks to Ruth Mullen, Gail Olsen, Adina Weinstein, Deborah Immergut, and Nancy Palmer. Without Norma Foerderer, sweet Norma, running interference for me, I never could have gotten the time and access I needed. My agent, Kathy Robbins, is the best at what she does, but also much more: editor, cheerleader, confidante. Ed Kosner, the extraordinary editor of New York, has long been a source of ideas, inspiration and sage counsel. My children, Kate and Emily, are a joy, a challenge, and an inspiration. My wife, Deborah, is the most supportive person Ive ever known, my first editor, my best friend, andafter ten years still the love of my life.

I DONT do it for the money. Ive got enough, much more than Ill ever need. I do it to do it. Deals are my art form. Other people paint beautifully on canvas or write wonderful poetry. I like making deals, preferably big deals. Thats how I get my kicks.

Most people are surprised by the way I work. I play it very loose. I dont carry a briefcase. I try not to schedule too many meetings. I leave my door open. You cant be imaginative or entrepreneurial if youve got too much structure. I prefer to come to work each day and just see what develops.

There is no typical week in my life. I wake up most mornings very early, around six, and spend the first hour or so of each day reading the morning newspapers. I usually arrive at my office by nine, and I get on the phone. Theres rarely a day with fewer than fifty calls, and often it runs to over a hundred. In between, I have at least a dozen meetings. The majority occur on the spur of the moment, and few of them last longer than fifteen minutes. I rarely stop for lunch. I leave my office by six-thirty, but I frequently make calls from home until midnight, and all weekend long.