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In business, net worth (sometimes called net assets) is the total assets minus total outside liabilities of an individual or a company. For a company, this is called shareholders' preference and may be referred to as book value. Net worth is stated as at a particular year in time. In the case of an individual, the term estate is used in relation to deceased individuals in probate. For businesses, the term is used in the context of fraudulent law and on the dissolution of the company.

In personal finance, net worth (or wealth) refers to an individual's net economic position; similarly, it uses the value of all assets (long term assets) minus the value of all liabilities.

Net worth in business is generally based on the value of all assets and liabilities at the carrying value which is the value as expressed on the financial statements. To the extent items on the balance sheet do not express their true (market) value, the net worth will also be inaccurate.

Net worth in this formulation is not an expression of the market value of the firm: the firm may be worth more (or less) if sold as a going concern.

On reading the balance sheet, if the accumulated losses exceed the shareholder's equity, it is a negative value for net worth.

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Sir Richard Branson
Branson at the Time 100 Gala, 4 May 2010
Born	Richard Charles Nicholas Branson (1950-07-18) 18 July 1950 (age 61) Blackheath, London, England, UK
Residence	London, England
Occupation	Chairman of Virgin Group
Years active	1966–present
Net worth	US$4.2 billion (2011)[1]
Title	Sir
Spouse	Kristen Tomassi (m. 1972–1979) «start: (1972-07-22)–end+1: (1980)»"Marriage: Kristen Tomassi to Richard Branson" Location: (linkback:http://en-wiki.pop.wn.com/index.php/Richard_Branson) (divorced) Joan Templeman (m. 1989) «start: (1989-12-20)»"Marriage: Joan Templeman to Richard Branson" Location: (linkback:http://en-wiki.pop.wn.com/index.php/Richard_Branson)
Children	2 daughters (1 deceased), 1 son

Sir Richard Charles Nicholas Branson (born 18 July 1950) is an English business magnate, best known for his Virgin Group of more than 400 companies.^[2]

His first business venture was a magazine called Student at the age of 16.^[3] In 1970, he set up an audio record mail-order business. In 1972, he opened a chain of record stores, Virgin Records, later known as Virgin Megastores. Branson's Virgin brand grew rapidly during the 1980s, as he set up Virgin Atlantic Airways and expanded the Virgin Records music label.

Branson is the 4th richest citizen of the United Kingdom, according to the Forbes 2011 list of billionaires, with an estimated net worth of US$4.2 billion.^[1]

Early life[link]

Branson was born in Blackheath, London, the son and eldest child of barrister Edward James Branson (10 March 1918 – 19 March 2011)^[4] and Eve Huntley Branson (née Flindt).^[4][5] His grandfather, the Right Honourable Sir George Arthur Harwin Branson, was a judge of the High Court of Justice and a Privy Councillor.^[6] Branson was educated at Scaitcliffe School (now Bishopsgate School)^[7] until the age of thirteen. He then attended Stowe School until the age of sixteen. Branson has dyslexia and had poor academic performance as a student, but later discovered his ability to connect with others.^[8]

Career[link]

Record business[link]

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Branson started his record business from the crypt of a church where he ran The Student. Branson advertised popular records in The Student Magazine and it was an over night success. Trading under the name "Virgin", he sold records for considerably less than the "High Street" outlets, especially the chain W. H. Smith. The name "Virgin" was suggested by one of Branson's early employees because they were all new at business.^[9] At the time, many products were sold under restrictive marketing agreements that limited discounting, despite efforts in the 1950s and 1960s to limit so-called resale price maintenance.^[10] In effect, Branson began the series of changes that led to large-scale discounting of recorded music.

Branson eventually started a record shop in Oxford Street in London. In 1971, Branson was questioned in connection with the selling of records in Virgin stores that had been declared export stock. The matter was never brought before a court and Branson agreed to repay any unpaid tax and a fine. Branson's mother Eve re-mortgaged the family home to help pay the settlement.^[9]

Earning enough money from his record store, Branson in 1972 launched the record label Virgin Records with Nik Powell and bought a country estate, in which he installed a recording studio. He leased out studio time to fledgling artists, including multi-instrumentalist Mike Oldfield, whose debut album Tubular Bells (1973) was Virgin Records' first release and a chart-topping best-seller.

Virgin signed such controversial bands as the Sex Pistols, which other companies were reluctant to sign. It also won praise for exposing the public to such obscure avant-garde music as Faust and Can. Virgin Records also introduced Culture Club to the music world. In the early 1980s, Virgin purchased the gay nightclub Heaven. In 1991, in a consortium with David Frost, Richard Branson had made the unsuccessful bid for three ITV franchisees under the CPV-TV name. The early 1980s also saw his only attempt as a producer—on the novelty record "Baa, Baa, Black Sheep", by Singing Sheep in association with Doug McLean and Grace McDonald. The recording was a series of sheep baaing along to a drum machine produced track and even made the charts at number 42 in 1982.

In 1992, to keep his airline company afloat, Branson sold the Virgin label to EMI for £500 million.^[11] Branson says that he wept when the sale was completed since the record business had been the birth of the Virgin Empire. He later formed V2 Records to re-enter the music business.^[12]

Business ventures[link]

Branson formed Virgin Atlantic Airways in 1984, launched Virgin Mobile in 1999, Virgin Blue in Australia (now named Virgin Australia) in 2000. He was 9th in the Sunday Times Rich List 2006, worth just over £3 billion. Branson wrote in his autobiography of the decision to start an airline:

My interest in life comes from setting myself huge, apparently unachievable challenges and trying to rise above them...from the perspective of wanting to live life to the full, I felt that I had to attempt it.

In 1993, Branson took what many saw as being one of his riskier business exploits by entering into the railway business. Virgin Trains won the franchises for the former Intercity West Coast and Cross-Country sectors of British Rail.

Virgin acquired European short-haul airline Euro Belgian Airlines in 1996 and renamed it Virgin Express. In 2006, the airline was merged with SN Brussels Airlines forming Brussels Airlines. It also started a national airline based in Nigeria, called Virgin Nigeria. Another airline, Virgin America, began flying out of San Francisco International Airport in August 2007. Branson has also developed a Virgin Cola brand and even a Virgin Vodka brand, which has not been a very successful enterprise. As a consequence of these lacklustre performers, the satirical British fortnightly magazine Private Eye has been critical of Branson and his companies (see Private Eye image caption).^[13]

After the so-called campaign of "dirty tricks", British Airways settled the case, giving £500,000 to Branson and a further £110,000 to his airline and had to pay legal fees of up to £3 million. Branson divided his compensation (the so-called "BA bonus") among his staff.^[14]

On 25 September 2004, Branson announced the signing of a deal under which a new space tourism company, Virgin Galactic, will license the technology behind Spaceship One—funded by Microsoft co-Founder Paul Allen and designed by legendary American aeronautical engineer and visionary Burt Rutan—to take paying passengers into suborbital space. Virgin Galactic (wholly owned by Virgin Group) plans to make flights available to the public with tickets priced at US$200,000 using Scaled Composites White Knight Two.

Branson's next venture with the Virgin group is Virgin Fuels, which is set to respond to global warming and exploit the recent spike in fuel costs by offering a revolutionary, cheaper fuel for automobiles and, in the near future, aircraft. Branson has stated that he was formerly a global warming sceptic and was influenced in his decision by a breakfast meeting with Al Gore.^[15]

Branson has been tagged as a "transformational leader" in the management lexicon, with his maverick strategies and his stress on the Virgin Group as an organisation driven on informality and information, one that is bottom-heavy rather than strangled by top-level management.

On 21 September 2006, Branson pledged to invest the profits of Virgin Atlantic and Virgin Trains in research for environmentally friendly fuels. The investment is estimated to be worth $3 billion.^[16][17]

On 4 July 2006, Branson sold his Virgin Mobile company to UK cable TV, broadband, and telephone company NTL/NTL:Telewest for almost £1 billion. The new company was launched with much fanfare and publicity on 8 February 2007, under the name Virgin Media. The decision to merge his Virgin Media Company with NTL was in order to integrate both of the companies' compatible parts of commerce. Branson used to own three quarters of Virgin Mobile, whereas now he owns 15 percent of the new Virgin Media company.^[18]

In 2006, Branson formed Virgin Comics and Virgin Animation, an entertainment company focussed on creating new stories and characters for a global audience. The company was founded with author Deepak Chopra, filmmaker Shekhar Kapur, and entrepreneurs Sharad Devarajan and Gotham Chopra.

Branson also launched the Virgin Health Bank on 1 February 2007, offering parents-to-be the opportunity to store their baby's umbilical cord blood stem cells in private and public stem cell banks.

In June 2006, a tip-off from Virgin Atlantic led US and UK competition authorities to investigate price-fixing attempts between Virgin Atlantic and British Airways. In August 2007, British Airways was fined £271 million over the allegations. Virgin Atlantic was given immunity for tipping off the authorities and received no fine—a controversial decision the Office of Fair Trading defended as being in the public interest.^[19]

On 9 February 2007, Branson announced the setting up of a new Global science and technology prize—The Virgin Earth Challenge—in the belief that history has shown that prizes of this nature encourage technological advancements for the good of mankind. The Virgin Earth Challenge will award $25 million to the individual or group who are able to demonstrate a commercially viable design which will result in the net removal of anthropogenic, atmospheric greenhouse gases each year for at least ten years without countervailing harmful effects. This removal must have long-term effects and contribute materially to the stability of the Earth's climate.

Branson also announced that he would be joined in the adjudication of the Prize by a panel of five judges, all world authorities in their respective fields: Al Gore, Sir Crispin Tickell, Tim Flannery, James E. Hansen, and James Lovelock. The panel of judges will be assisted in their deliberations by The Climate Group and Special Advisor to The Virgin Earth Prize Judges, Steve Howard.

In August 2007, Branson announced that he bought a 20 percent stake in Malaysia's AirAsia X.^[20]

Branson in April 2009 at the launch of Virgin America in Orange County, California

On 13 October 2007, Branson's Virgin Group sought to add Northern Rock to its empire after submitting an offer that would result in Branson personally owning 30% of the company, changing the company's name from Northern Rock to Virgin Money.^[21] The Daily Mail ran a campaign against his bid and Liberal Democrats' financial spokesperson Vince Cable suggested in the House of Commons that Branson's criminal conviction for tax evasion might be felt by some as a good enough reason not to trust him with public money .^[22]

On 10 January 2008, Branson's Virgin Healthcare announced that it would open a chain of health care clinics that would offer conventional medical care alongside homoeopathic and complementary therapies.^[23] The Financial Times reported that Ben Bradshaw, UK's health minister, welcomed the launch. "I am pleased that Virgin Healthcare is proposing to work with GPs to help develop more integrated services for patients."

Plans where GPs could be paid for referring National Health Service (NHS) patients to private Virgin services were abandoned in June 2008. The BMA warned the plan would "damage clinical objectivity", there would be a financial incentive for GPs to push patients towards the Virgin services at the centre.^[24] Plans to take over an NHS Practice in Swindon were subsequently abandoned in late September 2008.^[25]

In February 2009, Branson's Virgin organisation were reported as bidding to buy the former Honda Formula One team. Branson later stated an interest in Formula One but claimed that, before the Virgin brand became involved with Honda or any other team, Formula One would have to develop a more economically efficient and environmentally responsible image. At the start of the 2009 formula one season on 28 March, it was announced that Virgin would be sponsoring the new Brawn GP team.,^[26] with discussions also under way about introducing a less "dirty" fuel in the medium term.^[27] After the end of the season and the subsequent purchase of Brawn GP by Mercedes, Branson invested in an 80% buyout of Manor Grand Prix^[28][29] with the team being renamed to Virgin Racing.

Branson and Tony Fernandes, owner of Air Asia and Lotus F1 Racing, had a bet for the 2010 F1 season where the team's boss should work on the winner's airline for a day dressed as a stewardess. Fernandes escaped as the winner of the bet, as Lotus Racing ended 10th in the championship, while Virgin Racing ended 12th and last.

Branson and Somerset County's Natirar Resort development in New Jersey, on the Natirar Estate, opened in late 2009 with the Ninety Acres Culinary Center. It includes a restaurant run by chef David Felton, cooking school, wine school, working farm, luxury resort and spa. The development, spearheaded by Branson and Bob Wojtowicz, sits on 500 acres which was the former estate of the King of Morocco.^[30]

In 2010 Richard Branson became patron of the UK's Gordon Bennett 2010 gas balloon race, which has 16 hydrogen balloons flying across Europe.^[31]

In April 2010 Branson described the closure of large parts of European airspace owing to volcanic ash as "beyond a joke". Scientists later concluded that serious structural damage to aircraft could have occurred if passenger planes had continued to fly.^[32]

World record attempts[link]

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A 1998 attempt at an around-the-world balloon flight by Branson, Fossett, and Lindstrand ends in the Pacific Ocean on 25 December 1998.

Richard Branson made several world record-breaking attempts after 1985, when in the spirit of the Blue Riband he attempted the fastest Atlantic Ocean crossing. His first attempt in the "Virgin Atlantic Challenger" led to the boat capsizing in British waters and a rescue by RAF helicopter, which received wide media coverage. Some newspapers called for Branson to reimburse the government for the rescue cost. In 1986, in his "Virgin Atlantic Challenger II", with sailing expert Daniel McCarthy, he beat the record by two hours. A year later his hot air balloon "Virgin Atlantic Flyer" crossed the Atlantic.

In January 1991, Branson crossed the Pacific from Japan to Arctic Canada, 6,700 miles (10,800 km), in a balloon of 2,600,000 cubic feet (74,000 m³). This broke the record, with a speed of 245 miles per hour (394 km/h).

Between 1995 and 1998 Branson, Per Lindstrand and Steve Fossett made attempts to circumnavigate the globe by balloon. In late 1998 they made a record-breaking flight from Morocco to Hawaii but were unable to complete a global flight before Bertrand Piccard and Brian Jones in Breitling Orbiter 3 in March 1999.

In March 2004, Branson set a record by travelling from Dover to Calais in a Gibbs Aquada in 1 hour, 40 minutes and 6 seconds, the fastest crossing of the English Channel in an amphibious vehicle. The previous record of six hours was set by two Frenchmen.^[33] The cast of Top Gear, Jeremy Clarkson, James May and Richard Hammond, attempted to break this record in an amphibious vehicle which they had constructed and, while successfully crossing the channel, did not break Branson's record.

In September 2008 Branson and his children made an unsuccessful attempt at an Eastbound record crossing of the Atlantic ocean under sail in the 99 feet (30 m) sloop Virgin Money.^[34] The boat, also known as Speedboat, is owned by NYYC member Alex Jackson, who was a co-skipper on this passage, with Branson and Mike Sanderson. After 2 days, 4 hours, winds of force 7 to 9 (strong gale), and seas of 40 feet (12 m), a 'monster wave' destroyed the spinnaker, washed a ten-man life raft overboard and severely ripped the mainsail. She eventually continued to St. George's, Bermuda.^[35] In March 2010 Richard tried for the world record of putting a round of golf in the dark at the Black Light Mini Golf in The Docklands, Melbourne, Australia. He succeeded in getting 41 on the par 45 course.

Television, film, and print[link]

Branson at the 2008 Toronto International Film Festival.

Branson has guest starred, usually playing himself, on several television shows, including Friends, Baywatch, Birds of a Feather, Only Fools and Horses, The Day Today, a special episode of the comedy Goodness Gracious Me and Tripping Over. Branson made several appearances during the nineties on the BBC Saturday morning show Live & Kicking, where he was referred to as 'the pickle man' by comedy act Trev and Simon (in reference to Branston Pickle).^[36] Branson also appears in a cameo early in XTC's "Generals and Majors" video.

He was also the star of a reality television show on Fox called The Rebel Billionaire: Branson's Quest for the Best (2004), in which sixteen contestants were tested for their entrepreneurship and sense of adventure. It did not succeed as a rival show to Donald Trump's The Apprentice and only lasted one season.

His high public profile often leaves him open as a figure of satire—the 2000 AD series Zenith features a parody of Branson as a super villain, as the comic's publisher and favoured distributor and the Virgin group were in competition at the time. He is also caricatured in The Simpsons episode "Monty Can't Buy Me Love" as the tycoon Arthur Fortune, and as the ballooning megalomaniac Richard Chutney (a pun on Branson, as in Branston Pickle) in Believe Nothing. The character Grandson Richard 39 in Terry Pratchett's Wings is modelled on Branson.

He has a cameo appearance in several films: Around the World in 80 Days (2004), where he played a hot-air balloon operator; Superman Returns, where he was credited as a 'Shuttle Engineer' and appeared alongside his son, Sam, with a Virgin Galactic-style commercial suborbital shuttle at the centre of his storyline. He also has a cameo in the James Bond film Casino Royale. Here, he is seen as a passenger going through Miami Airport security check-in and being frisked – several Virgin Atlantic planes appear soon after. British Airways edited out Branson's cameo in their in-flight screening of the movie.^[37]

He makes a number of brief and disjointed appearances in the cult classic documentary Derek and Clive Get the Horn which follows the exploits of Peter Cook and Dudley Moore recording their last comedy album. Branson and his mother were also featured in the documentary film, Lemonade Stories. In early 2006 on Rove Live, Rove McManus and Sir Richard pushed each other into a swimming pool fully clothed live on TV during a "Live at your house" episode.

Branson is a Star Trek fan and named his new spaceship VSS Enterprise in honour of the famous Star Trek ships, and in 2006, reportedly offered actor William Shatner a ride on the inaugural space launch of Virgin Galactic. In an interview in Time magazine, 10 August 2009, Shatner claimed that Branson approached him asking how much he would pay for a ride on the spaceship. In response, Shatner asked "how much would you pay me to do it?"

In August 2007, Branson announced on The Colbert Report that he had named a new aircraft Air Colbert. He later doused political satirist and talk show host Stephen Colbert with water from his mug. Branson subsequently took a retaliatory splash from Colbert. The interview quickly ended, with both laughing^[38] as shown on the episode aired on Comedy Central on 22 August 2007. The interview was promoted on The Report as the Colbert-Branson Interview Trainwreck. Branson then made a cameo appearance on The Soup playing an intern working under Joel McHale who had been warned against getting into water fights with Stephen Colbert, and being subsequently fired.

In March 2008 he launched Virgin Mobile in India and during that period, he even played a cameo performance in Bollywood film, London Dreams.^[39]

In July 2010, Branson narrated Australian sailor Jessica Watson's documentary about her solo sailing trip around the world. It premiered on ONEHD on 16 August 2010.

In April 2011 Branson appeared on CNN's Mainsail^[40] with Kate Winslet. Together they reenacted a famous scene^[41] from the 1997 film Titanic for the cameras. On 17 August 2011, he was featured in the premier episode of Hulu's first long-form original production entitled, A Day in the Life.^[42]

Activism[link]

Humanitarian initiatives[link]

In the late 1990s, Branson and musician Peter Gabriel discussed with Nelson Mandela their idea of a small, dedicated group of leaders, working objectively and without any vested personal interest to solve difficult global conflicts.^[43]

On 18 July 2007, in Johannesburg, South Africa, Nelson Mandela announced the formation of a new group, The Elders, in a speech he delivered on the occasion of his 89th birthday. The founding members of this group are Desmond Tutu, Graça Machel, Kofi Annan, Ela Bhatt, Gro Harlem Brundtland, Jimmy Carter, Li Zhaoxing, Mary Robinson, and Muhammad Yunus.^[43] The Elders is independently funded by a group of "Founders", including Branson and Gabriel.

Desmond Tutu serves as the chair of The Elders—who will use their collective skills to catalyse peaceful resolutions to long-standing conflicts, articulate new approaches to global issues that are causing or may cause immense human suffering, and share wisdom by helping to connect voices all over the world. They will work together over the next several months to carefully consider which specific issues they will approach.

Branson's other work in South Africa includes the Branson School of Entrepreneurship, set up in 2005 as a partnership between Virgin Unite, the non-profit foundation of Virgin, and entrepreneur Taddy Bletcher, the founder of CIDA City Campus, a university in Johannesburg. The school aims to improve economic growth in South Africa by supporting start-ups and micro-enterprises with skills, mentors, services, networks and finance arrangements.^[44] Fundraising activity to support the school is notably achieved by the Sunday Times Fast Track 100, sponsored by Virgin Group, at its yearly event, where places to join Richard Branson on trips to South Africa to provide coaching and mentoring to students are auctioned to attendees. In 2009, Jason Luckhurst and Boyd Kershaw of Practicus, Martin Ainscough of the Ainscough Group and Matthew Riley of Daisy Communications helped raise £150,000 through the auction.^[45]

In September 2007, Richard Branson chaired the jury of the first Picnic Green Challenge, a €500,000 award for best new green initiative, set up by the Dutch "Postcode Loterij" (postcode lottery) and the PICNIC Network of creative professionals. The first Green Challenge was won by Qurrent with the Qbox.

Branson was the first celebrity guest for the popular charity fund raisers, Reserve Dinners, raising over $75,000 in one evening towards his Virgin Unite charity.^[46]

In March 2008, Richard Branson hosted an environmental gathering at his private island, Necker Island, in the Caribbean with several prominent entrepreneurs, celebrities, and world leaders. They discussed global warming-related problems facing the world, hoping that this meeting will be a precursor to many more future discussions regarding similar problems. Former British Prime Minister Tony Blair, Wikipedia co-founder Jimmy Wales, and Larry Page of Google were in attendance.^[47]

Branson has been very supportive of Kenya during its troubles, and in May 2008 had gone to Masai Mara to open a new school (Sekenani Primary School) which has also been partly funded by Virgin Atlantic frequent flyers who volunteered their time to help with the construction. A documentary of the experience was directed by Carolyn Scott-Hamilton and filmed by David Collupy.

On 8 May 2009, Branson took over Mia Farrow's hunger strike in protest of the Sudanese government expulsion of aid groups from the Darfur region.^[48] He concluded his scheduled 3-day fast on 11 May. Later that year, he joined the project Soldiers of Peace, a movie against all wars and for a global peace.^[49][50]

Richard Branson is a signatory of Global Zero (campaign), a non-profit international initiative for the elimination of all nuclear weapons worldwide.^[51] Since its launch in Paris in December 2008,^[52] Global Zero (campaign) has grown to 300 leaders, including current and former heads of state, national security officials and military commanders, and 400,000 citizens worldwide; developed a practical step-by-step plan to eliminate nuclear weapons; launched an international student campaign with 75 campus chapters in eight countries; and produced an acclaimed documentary film, Countdown to Zero, in partnership with Lawrence Bender and Participant Media.^[53]

Since 2010, Branson has served as a Commissioner on the Broadband Commission for Digital Development, a UN initiative which promotes universal access to broadband services.^[54]

In 2011, Branson served on the Global Commission on Drug Policy with former political and cultural leaders of Latin America and elsewhere, "in a bid to boost the effort to achieve more humane and rational drug laws."^[55]

Politics[link]

In the 1980s, he was briefly given the post of "litter Tsar" by Margaret Thatcher—charged with "keeping Britain tidy".^[56][57] In 2005 he declared that there were only negligible differences between the two main parties on economic matters.^[58] He has frequently been mentioned as a candidate for Mayor of London, and polls have suggested he would be a viable candidate, though he has yet to express interest.^[59][60][61]

Business practices[link]

Branson's business empire is owned by a complicated series of offshore trusts and companies. The Sunday Times stated that his wealth is calculated at £3.065 billion; if he were to retire to his Caribbean island and liquidate all of this, he would pay relatively little in tax.^[62]

Honours and awards[link]

In 1993, Branson was awarded an honorary degree of Doctor of Technology from Loughborough University.

In the New Years Honours list dated 30 December 1999, HM The Queen signified her intention to confer the honour of Knight Bachelor on him for his "services to entrepreneurship".^[63][64] He was knighted by HRH The Prince of Wales on 30 March 2000 at an investiture in Buckingham Palace.^[65]

Also in 2000, Branson received the 'Tony Jannus Award' for his accomplishments in commercial air transportation.

Branson is the patron of several charities, including the International Rescue Corps and Prisoners Abroad, a registered charity which supports Britons who are detained outside of the UK.

Branson appears at No. 85 on the 2002 list of "100 Greatest Britons" (sponsored by the BBC and voted for by the public). Branson was also ranked in 2007's Time Magazine "Top 100 Most Influential People in the World". In 2009, Branson was voted the UK's "Celebrity Dream Boss" in an opinion poll by Cancer Research UK.^[66]

On 7 December 2007, United Nations Secretary General Ban Ki-Moon presented Branson with the United Nations Correspondents Association Citizen of the World Award for his support for environmental and humanitarian causes.^[67]

On 24 January 2011, Branson was awarded the German Media Prize (organised by "Media Control Charts" ), previously handed to former U.S. president Bill Clinton and the Dalai Lama.

On 14 November 2011, Branson was awarded the ISTA Prize by the International Space Transport Association in The Hague for his pioneering achievements in the development of suborbital transport systems with "Virgin Galactic".^[68]

On February 11, 2012, Branson was honoured with the National Academy of Recording Arts and Sciences' President's Merit Award for his contributions to the music industry. The event took place the night before the 54th Grammy Awards. ^[69]

Personal life[link]

He stated in an interview with Piers Morgan that he and wife Joan had a daughter named Clare Sarah who died when she was just four days old in 1979.^[70] The couple wed—at their daughter Holly's suggestion when she was eight years old—in 1989 at Necker Island, a 74-acre (30 ha) island in the British Virgin Islands that Branson owns.^[71] He also owns land on the Caribbean Islands of Antigua and Barbuda. Holly Branson is now a doctor and is a keen supporter of the football team Oxford United.^{[72][dead link]}

In 1998, Branson released his autobiography, titled Losing My Virginity, an international bestseller.^[73]

Branson was deeply saddened by the disappearance of fellow adventurer Steve Fossett in September 2007; and, the following month, he wrote an article for Time magazine, titled "My Friend, Steve Fossett".^[74]

Influences[link]

Branson has stated in a number of interviews that he derives much influence from non-fiction books. He most commonly names Nelson Mandela's autobiography, Long Walk to Freedom, explaining that Mandela is "one of the most inspiring men I have ever met and had the honour to call my friend." Owing to his interest in humanitarian and ecological issues, Branson also lists Al Gore's best-selling book, An Inconvenient Truth and The Revenge of Gaia by James Lovelock amongst his favourites. According to Branson's own book, Screw It, Let's do It. Lessons in Life, he is also a huge fan of works by Jung Chang.^[75]

See also[link]

• Virgin Group
• Virgin Earth Challenge
• List of Richard Branson's business ventures

Notes[link]

References[link]

• Branson, Richard. Losing My Virginity: How I've Survived, Had Fun, And Made a Fortune Doing Business My Way, 1999, Three Rivers Press. ISBN 0-8129-3229-3
• Branson, Richard. Losing My Virginity, Revised Edition First Published in Great Britain by Virgin Books Limited, London, 2002
• Branson, Sir Richard and Prescott, Colin. To the Edge of Space: The Adventures of a Balloonist, 2000, Box tree. ISBN 0-7522-1865-4
• Branson, Sir Richard. Sir Richard Branson, the Autobiography, 2002, Longman. ISBN 0-582-51224-7
• Branson, Sir Richard. Losing my virginity: The autobiography, 2005, ISBN 0-7535-1020-0
• Bower, Tom. Branson, 2001, ISBN 1-84115-400-8
• Branson, Sir Richard. Screw It, Let's Do It: Lessons in Life, 2006, ISBN 0-7535-1099-5
• Branson, Sir Richard. Screw It, Let's Do It Expanded: Lessons in Life and Business, 2007, ISBN 0-7535-1149-7
• Specter, Michael. "Profiles: Branson's Luck". The New Yorker, 14 May 2007, pp. 114–25.

Bibliography[link]

• Branson, Richard (8 December 2011). Screw Business As Usual. Penguin Group. ISBN 978-1-59184-434-1. 

• Branson, Richard (3 June 2010). Reach for the Skies: Ballooning, Birdmen and Blasting Into Space. Virgin Books. ISBN 978-1-905264-91-9. 

• Branson, Richard (2 July 2009). Business Stripped Bare. Virgin Books. ISBN 978-0-7535-1503-7. 

• Branson, Richard (29 March 2007). Screw It, Let's Do It. Virgin Books. ISBN 978-0-7535-1149-7. 

External links[link]

Listen to this article (info/dl)

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More spoken articles

• Branson's autobiography on virgin.com
• Richard Branson at TED Conferences
• Richard Branson on Charlie Rose
• Richard Branson collected news and commentary at The New York Times
• Works by or about Richard Branson in libraries (WorldCat catalog)
• Branson's interview on India Infoline
• Gonzo Way of Branding Fast Company magazine article on Branson
• Lemonade Stories, a documentary film featuring Branson and his mother, Eve Branson.
• Profile on BBC News dated 27 September 2004
• Interview on BBC World Service 24 November 2006
• Video of Branson speaking at the 2007 Aspen Ideas Festival, 5 July 2007
• Entrepreneur Spotlight: Richard Branson
• Branson at Global Zero

Donald Trump
Donald Trump, February 2011
Born	Donald John Trump (1946-06-14) June 14, 1946 (age 66) Queens, New York City, New York, U.S.
Residence	Trump Tower, Manhattan
Nationality	American
Alma mater	Fordham University The Wharton School (B.S.)
Occupation	Chairman and president of The Trump Organization[1] Chairman of Trump Plaza Associates, LLC[2] Chairman of Trump Atlantic City Associates[2] Host of The Apprentice
Years active	1968–present
Salary	$60 million (2010–11)[2]
Net worth	$2.9 billion (2012)[3]
Political party	Independent (2011–present)[4] Republican (1987–99; 2009–11) Democratic (2001–09)[5] Reform Party (1999–2000)[6]
Religion	Presbyterian[7]
Spouse	Ivana Trump (m. 1977–1992) «start: (1977)–end+1: (1993)»"Marriage: Ivana Trump to Donald Trump" Location: (linkback:http://en-wiki.pop.wn.com/index.php/Donald_Trump) Marla Maples (m. 1993–1999) «start: (1993)–end+1: (2000)»"Marriage: Marla Maples to Donald Trump" Location: (linkback:http://en-wiki.pop.wn.com/index.php/Donald_Trump) Melania Trump (m. 2005) «start: (2005)»"Marriage: Melania Trump to Donald Trump" Location: (linkback:http://en-wiki.pop.wn.com/index.php/Donald_Trump)
Children	Donald Trump Jr. (b. 1977) Ivanka Trump (b. 1981) Eric Trump (b. 1984) Tiffany Trump (b. 1993) Barron Trump (b. 2006)
Signature
Website
TrumpOnline.com

Donald John Trump, Sr. (born June 14, 1946) is an American business magnate, television personality and author. He is the chairman and president of The Trump Organization and the founder of Trump Entertainment Resorts.^[1] Trump's extravagant lifestyle, outspoken manner and role on the NBC reality show The Apprentice have made him a well-known celebrity who was No. 17 on the 2011 Forbes Celebrity 100 list.^[2] He is well-known as a real-estate developer who amassed vast hotel, casino, and other real-estate properties, in the New York City area and around the world.

Trump is the son of Fred Trump, a wealthy New York City real-estate developer.^[8] He worked for his father's firm, Elizabeth Trump & Son, while attending the Wharton School of the University of Pennsylvania, and in 1968 officially joined the company.^[9] He was given control of the company in 1971 and renamed it The Trump Organization.^[10][11]

In 2010, Trump expressed an interest in becoming a candidate for President of the United States in the 2012 election.^[12][13] In May 2011, he announced he would not be a candidate, but a few weeks later he said he had not completely ruled out the possibility.^[14][15] In December 2011, Trump was suggested as a possible Vice Presidential selection by Michele Bachmann.^[16] Bachmann has since suspended her presidential campaign.

Early life and education[link]

Trump is a son of Fred Trump and his wife, Mary Anne MacLeod, who married in 1936. His mother was born on the Isle of Lewis, off the west coast of Scotland.^[17] Donald was one of five children. Donald's oldest brother, Fred Jr., died in 1981 at the age of 43.^[18] Trump's paternal grandparents were German immigrants.^[19] His grandfather, Frederick Trump (née Freidrich Drumpf), emigrated to the United States in 1885 and became a naturalized American citizen in 1892. Frederick married Elisabeth Christ (October 10, 1880 – June 6, 1966)^[20] at Kallstadt, Rheinland-Pfalz, Germany, on August 26, 1902. They had three children.

Trump attended the Kew-Forest School, Forest Hills, New York, as did some of his siblings. At age 13 after having some difficulties there, his parents sent him to the New York Military Academy (NYMA), hoping to direct his energy and assertiveness in a positive manner.^[21] At NYMA, in upstate New York, Trump earned academic honors, and played varsity football in 1962, varsity soccer in 1963, and varsity baseball from 1962 to 1964 (baseball captain 1964). The baseball coach, Ted Dobias, a local celebrity for his work with area youth, awarded him the Coach's Award in 1964. Promoted to Cadet Captain-S4 (Cadet Battalion Logistics Officer) in his senior year, Trump and Cadet First Sergeant Jeff Donaldson (NYMA class of 1965; West Point 1969) formed a composite company of cadets, taught them advanced close-order drill, and marched them down Fifth Avenue on Memorial Day, 1964.

Trump attended Fordham University for two years before transferring to the Wharton School of the University of Pennsylvania. He graduated in 1968 with a Bachelor of Science in economics.^[22] In his book, Trump: The Art of the Deal, Trump discusses his undergraduate career:

After I graduated from the New York Military Academy in 1964, I flirted briefly with the idea of attending film school... but in the end I decided real estate was a much better business. I began by attending Fordham University... but after two years, I decided that as long as I had to be in college, I might as well test myself against the best. I applied to the Wharton School at the University of Pennsylvania and I got in... I was also very glad to get finished. I immediately moved back home and went to work full time with my father.^{[citation needed]}

Personal life[link]

Donald Trump at a press conference announcing David Blaine's latest feat in New York City at the Trump Tower.

Trump is popularly known as The Donald, a nickname given to him by the media after his first wife Ivana Trump, a native of the Czech Republic, referred to him as such in an interview.^[23] Trump is also known for his catchphrase, "You're fired!", made popular by his television series The Apprentice. While it has been reported that Trump does not shake hands because of fear of germs,^[24] he claims this phobia is "a rumor that the enemies say", and shook hands repeatedly in public during a visit to New Hampshire in April 2011.^[25] Trump is a golfer, with a low single-figure handicap. He is a member of the Winged Foot Golf Club in Mamaroneck, New York, and also plays regularly at the other courses he owns and operates.^[26]

Christian[link]

Trump has stated in interviews that he is a Presbyterian. In April 2011 on Human Events he said that he is "a Presbyterian within the Protestant group".^[7] In an April 2011 interview, on the 700 Club, Trump said, "I'm a Protestant, I'm a Presbyterian. And you know I've had a good relationship with the church over the years. I think religion is a wonderful thing. I think my religion is a wonderful religion."^[27][28] A 2010 article in The Daily Telegraph stated that Trump was Catholic.^[29] A February 2011 Politics Daily article described Trump as "apparently a member of the Dutch Reformed Church, which is a Presbyterian denomination".^[30] Andrew Cusack in 2008 stated that Donald Trump is a member of New York City's Marble Collegiate Church. Explaining that church's organizational relationships, Cusack says "the Collegiate Reformed Protestant Dutch Church is actually a denomination within a denomination" and that the Collegiate Churches are "now part of the Reformed Church of America".^[31] Marble Collegiate Church also states that it is denominationally affiliated with the Reformed Church in America,^[32] with the RCA website stating that the RCA has a local church "presbyterian form of government".^[33] Trump does not drink alcohol.^[34]

Trump married Melania Knauss, his third wife, at the Episcopal church of Bethesda-by-the-Sea, in a "traditional ceremony".^[35][36][37] Their son, Barron, was baptized in that church.^[38] In September 2010, Trump expressed on Anderson Cooper's show on CNN, his "suspicions of ulterior motives at the imam running the project" known as Park51, claiming the imam was "using religion" (meaning Islam) to get a good price for the real estate.^[39] He also appeared on Fox's Hannity, and said much the same.^[40] Trump was quoted by the New York Post that, while he "is a 'big believer in freedom of religion,' ... his personal opinion was that the mosque should not be built close to Ground Zero ...". After Trump offered in a letter to buy the two-building site for more than $6 million in order to end the general controversy, the lawyers for the majority stakeholder, according to the Post, criticized "Trump's letter offering to buy the site as a publicity stunt".^[41]

Family[link]

Melania Knauss-Trump

Trump's mother, Mary Anne, was born at Tong, Stornoway on the Isle of Lewis in Scotland in 1912. In 1930, aged 18, on holiday in New York, she met Fred Trump and stayed in New York. Born in Queens, New York,^{[citation needed]} Trump has four siblings: two brothers, Fred Jr. (who is deceased) and Robert; and two sisters, Maryanne and Elizabeth. His elder sister, Maryanne Trump Barry, is a federal appeals court judge.

In 1977, Trump married Ivana Zelníčková and together they have three children: Donald Jr. (born December 31, 1977), Ivanka (born October 30, 1981), and Eric (born January 6, 1984). They were divorced in 1992. In 1993, he married Marla Maples and together they had one child, Tiffany (born October 13, 1993). They divorced on June 8, 1999. In a February 2008 interview on ABC's Nightline Trump commented on his ex-wives by saying, "I just know it's very hard for them (Ivana and Marla) to compete because I do love what I do. I really love it."^{[citation needed]}

On April 26, 2004, he proposed to Melania Knauss (Melanija Knavs), a native of Slovenia. Trump and Knauss married on January 22, 2005, at Bethesda by the Sea Episcopal Church, on the island of Palm Beach, Florida, followed by a reception at Trump's Mar-A-Lago estate.^[36] Melania gave birth to a boy named Barron William Trump, Trump's fifth child, on March 20, 2006.

Trump has four grandchildren. Three from his son Donald Jr. (Kai Madison^[42], Donald John III^[43] and Tristan Milos^[44]) and one from his daughter Ivanka (Arabella Rose^[45][46]).

Business career[link]

Successes (1968–89)[link]

Trump began his career at his father's company,^[47] the Trump Organization, and initially concentrated on his father's preferred field of middle-class rental housing in Brooklyn, Queens, and Staten Island. One of Trump's first projects, while he was still in college, was the revitalization of the foreclosed Swifton Village apartment complex in Cincinnati, Ohio, which his father had purchased for $5.7 million in 1962. Trump became intimately involved in the project, personally flying in for a few days at a time to carry out landscaping and other low-level tasks. After $500,000 investment, Trump successfully turned a 1200-unit complex with a 66 percent vacancy rate to 100 percent occupancy within two years. The Trump Organization sold Swifton Village for $6.75 million in 1972.^[48]

In 1971 Trump moved to Manhattan, where he became convinced of the economic opportunity in the city, specifically large building projects in Manhattan that would offer opportunities for earning high profits, utilizing attractive architectural design, and winning public recognition.^[8] Trump began by landing the rights to develop the old Penn Central yards on the West Side, then – with the help of a 40-year tax abatement by the financially strained New York City government, which was eager to give tax concessions in exchange for investments at a time of financial crisis – turned the bankrupt Commodore Hotel into a new Grand Hyatt.^[49]

He was also instrumental in steering the development of the Javits Convention Center on property he had an option on. The development saga of the Javits Convention Center brought Trump into contact with the New York City government when a project that he had estimated could have been completed by his company for $110 million ended up costing the state $430 million.^[50] While rejecting his proposal that he build the center, the State chose the site, so Trump received a broker's fee instead.

A similar opportunity would arise in the city's attempt to restore the Wollman Rink in Central Park, a project started in 1980 with an expected 2½-year construction schedule that was still, with $12 million spent, nowhere near completion in 1986. Trump offered to take over the job at no charge to the city, an offer that was initially rebuffed until it received much local media attention. Trump then was given the job which he completed in six months and with $750,000 of the $3 million budgeted for the project left over.^[51] Trump was also involved with the old USFL, a competitor to the NFL, as owner of the New Jersey Generals.^[52] In addition, Trump at one time acted as a financial advisor for Mike Tyson,^[53] hosting Tyson's fight against Michael Spinks in Atlantic City.^[54]

Trump renovated the Commodore Hotel and created the Grand Hyatt with the Pritzker family. He also renovated the Trump Tower in New York City and several other residential projects. He later bought the Eastern Shuttle routes,^[55] and Atlantic City casino business, including acquiring the Taj Mahal Casino in a transaction with Merv Griffin and Resorts International.^[56]

In March 1990, Trump threatened to sue Janney Montgomery Scott, a stock brokerage, whose analyst made negative comments on the financial prospects of Taj Mahal. The analyst refused to retract the statements, and the firm fired him. The firm denied being influenced by Trump's threat.^[57] Taj Mahal declared bankruptcy for the first time in November 1990.^[58] The analyst was awarded $750,000 by arbitration panel against his firm for his termination. A defamation lawsuit by the analyst against Trump for $2 million was settled out of court.^[59]

This expansion, both personal and business, led to mounting debt.^[60] Much of the news about him in the early 1990s involved his much publicized financial problems, creditor-led bailout, extramarital affair with Marla Maples (whom he later married), and the resulting divorce from his first wife, Ivana Trump.

The late 1990s saw a resurgence in his financial situation and fame. In 2001, he completed Trump World Tower, a 72-story residential tower across from the United Nations Headquarters.^[61] Also, he began construction on Trump Place, a multi-building development along the Hudson River. Trump owns commercial space in Trump International Hotel and Tower, a 44-story mixed-use (hotel and condominium) tower on Columbus Circle. Trump currently^[when?] owns several million square feet of prime Manhattan real estate,^[62] and remains a major figure in the field of real estate in the United States and a celebrity for his prominent media exposures.

Financial problems (1989–97)[link]

By 1989, the effects of the recession left Trump unable to meet loan payments. Trump financed the construction of his third casino, the $1 billion Taj Mahal, primarily with high-interest junk bonds. Although he shored up his businesses with additional loans and postponed interest payments, by 1991 increasing debt brought Trump to business bankruptcy^[60] and the brink of personal bankruptcy. Banks and bond holders had lost hundreds of millions of dollars, but opted to restructure his debt to avoid the risk of losing more money in court. The Taj Mahal re-emerged from bankruptcy on October 5, 1991, with Trump ceding 50 percent ownership in the casino to the original bondholders in exchange for lowered interest rates on the debt and more time to pay it off.^[63]

On November 2, 1992, the Trump Plaza Hotel was forced to file a prepackaged Chapter 11 bankruptcy protection plan after being unable to make its debt payments. Under the plan, Trump agreed to give up a 49 percent stake in the luxury hotel to Citibank and five other lenders. In return Trump would receive more favorable terms on the remaining $550+ million owed to the lenders, and retain his position as chief executive, though he would not be paid and would not have a role in day-to-day operations.^[64]

By 1994, Trump had eliminated a large portion of his $900 million personal debt^[65] and reduced significantly his nearly $3.5 billion in business debt. While he was forced to relinquish the Trump Shuttle (which he had bought in 1989), he managed to retain Trump Tower in New York City and control of his three casinos in Atlantic City. Chase Manhattan Bank, which lent Trump the money to buy the West Side yards, his biggest Manhattan parcel, forced the sale of the tract to Asian developers. According to former members of the Trump Organization, Trump did not retain any ownership of the site's real estate – the owners merely promised to give him about 30 percent of the profits once the site was completely developed or sold. Until that time, the owners of The West Side Yards gave him modest construction and management fees to oversee the development, and allowed him to put his name on the buildings that eventually rose on the yards because his well-known moniker allowed them to charge a premium for their condos.^[66]

Trump was elected to the Gaming Hall of Fame in 1995.^[67] In 1995, he combined his casino holdings into the publicly held Trump Hotels & Casino Resorts. Wall Street drove its stock above $35 in 1996, but by 1998 it had fallen into single digits as the company remained profitless and struggled to pay just the interest on its nearly $3 billion in debt. Under such financial pressure, the properties were unable to make the improvements necessary for keeping up with their flashier competitors.

Legal developments (2002–05)[link]

In January 2002, the Securities and Exchange Commission brought a financial-reporting case against Trump Hotels & Casino Resorts Inc., alleging that it had committed several "misleading statements in the company's third-quarter 1999 earnings release." The matter was settled with the defendant neither admitting nor denying the charge.^[68]

Finally, on October 21, 2004, Trump Hotels & Casino Resorts announced a restructuring of its debt.^[69] The plan called for Trump's individual ownership to be reduced from 56 percent to 27 percent, with bondholders receiving stock in exchange for surrendering part of the debt. Since then, Trump Hotels has been forced to seek voluntary bankruptcy protection to stay afloat. After the company applied for Chapter 11 Protection in November 2004, Trump relinquished his CEO position but retained a role as Chairman of the Board. In May 2005^[70] the company re-emerged from bankruptcy as Trump Entertainment Resorts Holdings.^[71]

Resurgence (1997–2007)[link]

Trump has several projects under way, with varying levels of success in their progress. The Trump International Hotel and Tower – Honolulu seems to be a success. According to Trump, buyers paid non-refundable deposits, committing to purchase every unit on the first day they were made available. Construction of the Trump International Hotel and Tower – Chicago seems to be proceeding as planned, although 30 percent of the units remain unsold. The Trump International Hotel and Tower – Toronto has had a series of delays and a height reduction. The Trump Tower – Tampa has been quite controversial because the initial sales were so successful that all deposits were returned in order to charge a higher price. Three years after construction of this controversial development began, construction has delayed and lawsuits have been filed. In Fort Lauderdale, Florida, one Trump construction project was put on hold in favor of another (Trump International Hotel and Tower – Fort Lauderdale). Meanwhile, Trump Towers – Atlanta is being developed in a housing market having the nation's second-highest inventory of unsold homes.^[72] Trump was the first customer for the 2006 Cadillac DTS limosine after the President of the United States.^[73]

In its October 7, 2007 Forbes 400 issue, "Acreage Aces", Forbes valued Trump's wealth at $3.0 billion.^[74] His wealth went down and then up in the 2000s recession, but according to Forbes, Trump's wealth was valued at $2.9 billion in September 2011,^[2] though Trump claimed it was much more.^[75]

Financial crisis[link]

Lender Deutsche Bank refused to let Trump lower the prices on the units to spur sales. Arguing that the financial crisis and resulting drop in the real estate market is due to circumstances beyond his control, Trump invoked a clause in the contract to not pay the loan. Deutsche Bank then noted in court that "Trump is no stranger to overdue debt" and that he had twice previously filed for bankruptcy regarding his casino operations.^[76] Trump then initiated a suit asserting that his image had been damaged. Both parties agreed to drop their suits, and sale of the units is nearly complete.^[77]

On February 17, 2009 Trump Entertainment Resorts filed for Chapter 11 bankruptcy; Trump stating on February 13 that he would resign from the board.^[78] Trump Entertainment Resorts has three properties in Atlantic City. Trump's unsuccessful libel lawsuit against author Timothy L. O'Brien, for O'Brien's estimating his net worth at less than $250 million, was dismissed in 2009.^[79][80] In the lawsuit it was revealed that in 2005, Deutsche Bank valued Trump's net worth at $788 million, to which Trump objected.^[79][80][81]

Business ventures[link]

The Trump Organization owns many skyscrapers including Trump International Hotel and Tower in Chicago.

Trump branding and licensing[link]

Trump has succeeded in marketing the Trump name on a large number of products, including Trump Financial (a mortgage firm), Trump Sales and Leasing (residential sales), Trump Entrepreneur Initiative (a business education company),^[2] Trump Restaurants (Located in Trump Tower and consisting of Trump Buffet, Trump Catering, Trump Ice Cream Parlor, and Trump Bar), GoTrump^[3] (an online travel website), Donald J. Trump Signature Collection (a line of menswear, men's accessories, and watches), Donald Trump The Fragrance (2004), Trump Ice bottled water, Trump Magazine, Trump Golf, Trump Institute, Trump The Game (1989 Board Game), Trump Vodka and Trump Steaks. In addition, Trump reportedly receives $1.5 million for each one-hour presentation he does for The Learning Annex.^[82] Trump also has a business simulation game called Donald Trump's Real Estate Tycoon.^{[citation needed]}

In 2011, Forbes reported that its financial experts had estimated the value of the Trump brand at $200 million. Trump disputes this valuation, saying that his brand is worth about $3 billion.^[83] Many developers pay Trump to market their properties and to be the public face for their projects.^[81] For that reason, Trump does not own many of the buildings that display his name.^[81] According to Forbes, this portion of Trump's empire, actually run by his children, is by far his most valuable, having a $562 million valuation. According to Forbes there are 33 licensing projects under development including seven "condo hotels" (the seven Trump International Hotel and Tower developments).

Other ventures[link]

Other investments include a 17.2 percent stake in Parker Adnan, Inc. (formerly AdnanCo Group), a Bermuda-based financial services holdings company. In late 2003, Trump, along with his siblings, sold their late father's real estate empire to a group of investors that included Bain Capital, Kohlberg Kravis Roberts, and LamboNuni Bank reportedly for $600 million. Donald Trump's ¹⁄₃ share was $200 million, which he later used to finance Trump Casino & Resorts.

In 2006, Donald Trump bought the Menie estate on the coast north of Aberdeen, Scotland announcing that he intended to create the best golf course in the world.^[84][85] The project includes plans for a hotel, holiday homes, housing and two golf courses. It led to controversy, initially because the coastal dunes were designated a site of special scientific interest (SSSI);^[86] opposition was voiced by environmentalists and local residents and planning permission was initially refused by Aberdeenshire Council. In 2008 the local authority was overruled by the Scottish government,^[87][88] First Minister Alex Salmond citing economic benefits Trump had promised as justifying the unusual step of permitting development on an SSSI.^[89]

In 2009, Aberdeenshire Council received a request on behalf of Trump International Golf Links Scotland to approve compulsory purchase orders on a number of local homes.^[90] A protest group campaigned actively, using mass land purchase as a tactic.^[91] In late January 2011 Trump International stated that it had "no interest" in pursuing compulsory purchase orders^[92] and in fact had never applied for them.^[93][94] An award-winning 2011 documentary, 'You've been Trumped'^[95][96] by Anthony Baxter, follows the development's progress, showing Trump speaking locally about his ambitions for the project and being honoured in Aberdeen by Robert Gordon's University.^[97] It also queries the supposed economic benefits, the ecological impact and the effect on local residents.^[98][99]

Donald Trump has objected to plans for an offshore windfarm to be built within sight of the golf links. In 2011 he wrote to Alex Salmond expressing his view that the planned structures were ugly. He denied that he was concerned only with the view from the golf links, saying: 'It is not only for my project, it is more to preserve Scotland's beautiful coastline and natural heritage.'^[100] In 2012 Trump announced that if the windfarm were built he would abandon his plans for the hotel and housing at the golf links.^[101]

In April 2011, it was reported that Trump was in the process of negotiating a deal with New York City to reopen the historic Tavern on the Green restaurant in Central Park.^[102]

Beauty pageants[link]

The Miss Universe Organization is owned by Donald Trump and the National Broadcasting Company (NBC). The organization produces the Miss Universe, Miss USA, and Miss Teen USA pageants. In December 2006, talk show host Rosie O'Donnell criticized Trump's lenience toward Miss USA, Tara Conner, who had violated pageant behavioral guidelines. This sparked a tabloid war between the two celebrities which lasted for several weeks thereafter.^{[103][104][105][106]}

Entertainment media[link]

Donald Trump's star on the Hollywood Walk of Fame

Donald Trump, a two-time Emmy Award-nominated personality, has made appearances as a caricatured version of himself in television series and films (e.g. Home Alone 2: Lost in New York, The Nanny, The Fresh Prince of Bel-Air, Days of our Lives, Wall Street: Money Never Sleeps.^[108]), and as a character (The Little Rascals). He has been the subject of comedians, flash cartoon artists, and online caricature artists.

In March 2011, Trump was the subject of a Comedy Central Roast. The special was hosted by Seth MacFarlane, and roasters included Larry King, Snoop Dogg, and Anthony Jeselnik among regular roast participants. Trump's daughter Ivanka was seen in the audience. In April 2011, Trump attended the White House Correspondents' Dinner, featuring comedian Seth Meyers. President Obama used the occasion to present several prepared jokes mocking Trump.^[109]

[edit] The Apprentice

Trump with Celebrity Apprentice star Dennis Rodman

In 2003, Trump became the executive producer and host of the NBC reality show, The Apprentice, in which a group of competitors battled for a high-level management job in one of Trump's commercial enterprises. The other contestants were successively "fired" and eliminated from the game. In 2004, Donald Trump filed a trademark application for the catchphrase "You're fired."^[4][5][6]

For the first year of the show Trump was paid $50,000 per episode (roughly $700,000 for the first season), but following the show's initial success, he is now^[when?] paid a reported $3 million per episode, making him one of the highest paid TV personalities.^{[citation needed]} In 2007, Trump received a star on the Hollywood Walk of Fame for his contribution to television (The Apprentice).

Along with British TV producer Mark Burnett, Trump also put together The Celebrity Apprentice, where well-known stars compete to win money for their charities. While Trump and Burnett co-produced the show, Trump stayed in the forefront, deciding winners and "firing" losers.

World Wrestling Entertainment[link]

Trump is a known World Wrestling Entertainment fan and friend of WWE owner Vince McMahon. He has hosted two WrestleMania events in the Trump Plaza and has been an active participant in several of the shows. Trump's Trump Taj Mahal in Atlantic City was host to the 1991 WBF Championship (which was owned by WWE, known at the time as the "World Wrestling Federation."). Trump was interviewed by Jesse Ventura ringside at WrestleMania XX. He also appeared at WrestleMania 23 in the corner of Bobby Lashley who competed against Umaga with WWE Chairman McMahon in his corner, in a hair versus hair match, with either Trump or McMahon having their head shaved if their competitor lost. Lashley won the match, and he and Trump both proceeded to shave McMahon bald.^[110]

On June 15, 2009, as part of a storyline, McMahon announced on WWE Raw that he had 'sold' the show to Donald Trump. Appearing on screen, Trump confirmed it and declared he would be at the following commercial-free episode in person and would give a full refund to the people who purchased tickets to the arena for that night's show in the amount of USD $235,000. McMahon "bought back" Raw on June 22, 2009.^{[citation needed]} His entrance theme "Money, Money" was written by Jim Johnston.

Political activity[link]

2000s[link]

In the 2000 election, Trump expressed a desire to run as a third-party candidate for the United States presidency, considering running nomination by the Reform Party as a business conservative, socially moderate candidate.^{[111][112][113][114]} In his 2000 tome, The America We Deserve, economic policies Trump proposed include:

• Institution of a once-only 14.25 percent tax on personal estates and trusts over $10 million, which he estimated would raise $5.7 trillion in revenue toward retirement of the national debt, tax cuts for the middle class, and supplementing the funding of Social Security, Medicare and Medicaid; and, by way of compensating this one-time tax on the wealthy, permanent abolition of the 55 percent federal inheritance tax.
• Repeal of limits on campaign contributions, combined with outlawing soft money campaign contributions
  See also: Campaign finance reform in the United States
• Regarding universal health care, Trump touted himself as "a conservative on most issues, but a liberal on this one. Working out detailed plans will take time. But the goal should be clear: Our people are our greatest asset."^[115][116]
• Renegotiation of U.S. trade policies.^[117]

For 2004 and 2008, Trump speculated about running for President in the Republican party and for 2006 considered running for governor of New York as a representative of the party.^[118] In October 2007, Trump appeared on Larry King Live and delivered a strong criticism of then-United States President George W. Bush, particularly concerning the Iraq War. He speculated that Rudy Giuliani and Hillary Clinton could win the Republican and Democratic Presidential nominations, respectively, and voiced some support for either of them being elected President. He expressed doubt, on CNN's The Situation Room at the time, over whether a candidate for President could win the election by supporting a continued escalation of the war in Iraq.^[119]

On September 17, 2008, Trump officially endorsed John McCain for the U.S. Presidency on Larry King Live.^[120] Trump again registered as a Republican in 2009 after having registered with the Democratic Party in 2001.^[121] Trump said in an interview in 2007, "I'm very much independent in that way. I go for the person, not necessarily the party. I mean, I vote for Republicans and I vote for Democrats."^[122]

Since the 1990 U.S. elections, Donald Trump has made contributions to campaigns of both Republican Party and Democratic Party candidates. These have included Republicans John McCain, Rudolph Giuliani, Newt Gingrich, and George W. Bush^[123] and Democrats Ted Kennedy, John Kerry, Tom Daschle, Joe Biden, Harry Reid, Rahm Emanuel, Hillary Clinton, Anthony Weiner, Charles Schumer, Kirsten Gillibrand, and Charles Rangel).^{[123][124][125]}

2012 politics and potential presidential candidacy[link]

In 2010, Trump said he considered himself a potential candidate for President of the United States in the 2012 election.^[126][127] In his primary campaign, Trump has made a February speech to a CPAC gathering,^[128] an early venue for candidates considering a presidential run, as a write-in candidate in its straw poll for the office. A Wall Street Journal/NBC News poll released in March 2011 found Donald Trump leading among potential contenders for the Republican nomination for President of the United States, one point ahead of former Massachusetts Governor Mitt Romney.^[129] A Newsweek poll conducted February 2011 showed Trump within a few points of Obama, with many voters undecided in the November 2012 general election for President of the United States against Barack Obama.^[130] A poll released in April 2011 by Public Policy Polling showed Trump having a nine point lead in a potential contest for the Republican nomination for President of the United States while he was still actively considering a run.^[131][132]

Trump's present political stances include being pro-life, against same-sex marriage,^[27] anti-gun control, advocating the repeal and replacement of Patient Protection and Affordable Care Act, anti-foreign aid;^[128][133] and supporting a fair trade policy and believing generally that the People's Republic of China should be considered more of an adversarial competitor, subjected to significant import tariffs as a response to China's currency manipulation in order to help balance the U.S. budget.^[134] He said he would impose a 25 percent tariff on Chinese goods.^[135] He also believes the U.S. should disengage in Iraq and Afghanistan.^[136] In December 2008, Trump supported a government backed rescue plan for the American auto industry where the government would provide the debtor in possession financing for a Chapter 11 restructuring.^[137]

His campaign has been reported by some media as a possible promotional tool for his reality show The Apprentice.^[138][139] Time ran the headline "Donald Trump Begins Not Running For President"^[140] and The Huffington Post was similarly skeptical of whether he would run.^[141]

Regardless of this skepticism, Trump has quietly chosen to participate in the "Politics and Eggs" forum at the New Hampshire Institute of Politics at Saint Anselm College, a popular spot for presidential candidates visiting New Hampshire.^[142] This scheduled visit is important because the event is taking place in mid June 2011, supposedly after Trump had been supposed to make his decision whether to or not to run. On April 23, 2011, the New York-based TV station NY1 reported that Trump had not voted in primary elections in New York City for a span of 21 years,^[143] beginning after the city's mayoral primary in 1989, an accusation he has denied. A City election board spokeswoman confirmed the story.^[144]

On May 5, 2011, Trump announced he would not be the celebrity pace-car driver for the 2011 Indy 500 as was previously announced a month earlier by the Indianapolis Motor Speedway (on April 5, 2011.)^[145][146] Trump stated he made the decision because of business constraints, but there had been a fan campaign for the Speedway to instead name a racing celebrity to the position^[147] and a Speedway press release stated that Trump cancelled because of his intention to run for President.^[148]

On May 16, 2011, Trump announced he would not run for president.^[14] On May 23, 2011, Trump stated that he hasn't ruled out running for president, adding: "The country is so important, so vital that we choose the right person, and at this moment, I don't see that person."^[15]

In February 2012 he endorsed Mitt Romney prior to the Nevada caucuses.^[149] Trump gave media interviews endorsing Romney before the Michigan primary.^[150]

Barack Obama[link]

Speaking to an audience of more than five thousand people in Boca Raton, Florida on April 16, 2011, Trump implied that voter reaction to the 2008 financial crisis and the perception of slow progress on the wars in Iraq and Afghanistan during the final months of George W. Bush's second term as President was the primary cause for the election of his successor Barack Obama, and further that Obama would probably be known as the worst president in U.S. history.^[151]

Trump brought attention to conspiracy theories questioning Obama's citizenship status in media appearances, and endured criticism from political opponents for this.^[152][153] In an NBC-TV interview broadcast April 7, 2011, Trump said he was not satisfied that Obama had proven his citizenship.^[154]

In an April 2011 NBC interview, Trump disclosed that he had sent researchers to Hawaii to investigate the matter of Obama's citizenship status, commenting "they cannot believe what they're finding."^[155] On Anderson Cooper 360° on CNN, April 25, 2011, Trump said he wanted Obama to end the issue by releasing his long-form Certificate of Live Birth (distinct from the short-form Certification of Live Birth – Hawaii's prima facie evidence of birth), adding, "I've been told very recently ... the birth certificate is missing."^[156][157]

The long-form of Obama's birth certificate was released by the White House on April 27, 2011. Obama said it should put the matter to rest; that the nation had more pressing problems to solve and could not afford to be "distracted by side shows and carnival barkers".^[158] Trump expressed pride at his role in the release of the long-form certificate in a press conference followup.^[159] (The following Sunday, May 1, NBC would interrupt The Apprentice for breaking news coverage following the revelation that US forces had killed Osama bin Laden: some conspiracy theorists suggested that a vindictive Obama knew of the mission's success well beforehand and had consciously delayed his official announcement so that it would take Trump off the air.)^[160]

In May 2011, Public Policy Polling described the events as "one of the quickest rises and falls in the history of presidential politics", reporting:

Trump really made hay out of the 'birther' issue and as the resonance of that has declined, so has his standing. In February we found that 51 percent of Republican primary voters thought Barack Obama was not born in the United States. Now with the release of his birth certificate only 34 percent of Republican partisans fall into that camp, and Trump's only in fifth place with that now smaller group of the electorate at 9 percent.^[161]

On the Today Show on October 19, 2011, Trump stated that "I could vote for anybody over President Obama. President Obama has been a total and complete disaster."^[162]

Bibliography[link]

Trump has authored many books including:

References[link]

Further reading[link]

• Blair, Gwenda (2000). The Trumps. Simon & Schuster. ISBN 0-684-80849-8. 

External links[link]

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