Fred Trump
Early Life
Fred Trump was born on October 11, 1905, in the Bronx, New York City, to German immigrants Elizabeth Christ and Friedrich Trump. He was the second of three children. His father, a successful businessman, died when Fred was just 13 years old, leaving him to help support his family.
Career
Fred Trump began his career in real estate with his mother, Elizabeth, when they founded E. Trump & Son in 1927. The company was established with the purpose of buying, selling, and renting properties in the New York City area. Fred Trump's business acumen and hard work led to the company's success during the Great Depression, a time when many other businesses were failing.
In the 1930s, Fred Trump expanded his real estate business to include the construction of single-family homes in Queens and Brooklyn. He was known for his attention to detail and for providing affordable housing options for middle-class families. His business model was successful, and by the 1940s, he had built thousands of homes in the New York City area.
In the 1950s, Fred Trump shifted his focus to building larger apartment complexes. His developments, such as Trump Village, were known for their quality construction and affordable rents. He continued to expand his real estate empire throughout the 1960s and 1970s, building more apartment complexes and shopping centers.
Fred Trump was also known for his philanthropy. He donated generously to various causes, including medical research and education. He served on the board of the National Kidney Foundation and the Federation of Jewish Philanthropies.
Personal Life
Fred Trump married Mary Anne MacLeod in 1936. The couple had five children: Maryanne Trump Barry, Fred Trump Jr., Elizabeth Trump Grau, Robert Trump, and Donald Trump. Fred Trump was known to be a strict father, instilling in his children the values of hard work and financial responsibility.
Fred Trump died on June 25, 1999, at the age of 93. His legacy lives on through his children and the real estate empire he built.
Legacy
Fred Trump's impact on the New York City real estate market was significant. His focus on providing affordable housing for middle-class families shaped the landscape of Brooklyn and Queens. His business practices and philanthropic efforts have had a lasting impact on the city and its residents.
Fred Trump's influence can also be seen in his children, particularly his son Donald Trump, who followed in his father's footsteps in the real estate business. Donald Trump's real estate empire, the Trump Organization, is a testament to Fred Trump's teachings and influence.
Controversies
Despite his success, Fred Trump's career was not without controversy. He faced allegations of racial discrimination in his housing developments in the 1970s. He was also investigated by the U.S. Justice Department for potential violations of the Fair Housing Act. Despite these controversies, Fred Trump maintained his focus on his business and philanthropic efforts.