Donald Trump's Real Secret To Riches: Create A Brand And License It
Last July, The Trump Ocean Club International Hotel and Tower in Panama City was struggling under $2.2 million in unauthorized debts run up by Trump Panama Condominium Management LLC. Additionally, the management company withheld financial information from the building’s owners and paid undisclosed bonuses to its executives.
Trump’s name was on the building, but he didn’t own it. It belonged to Roger Khafif, who owned prime oceanfront real estate but couldn’t get financial backing for his 2011 construction project. He had licensed the Trump name, which costs him more than a third of the $220 million he’d raised to fund the project.
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Donald Trump positions himself as a real estate visionary and developer, and he’s created a remarkable brand. In truth, however, Trump doesn’t own a large number of his properties. He licenses his name to developers and offers property management services. For instance, his name is on 17 properties in Manhattan, but he only owns five of them outright.
http://www.forbes.com/sites/steveolenski/2015/11/24/donald-trumps-real-secret-to-riches-create-a-brand-and-license-it/#2b3e1eb726e7
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