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- In the 1950s,
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the Trumps are one of the
wealthiest families in America.
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[camera shutters clicking]
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- He felt constricted by
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00:00:12,403 --> 00:00:14,884
his father's world
of the outer boroughs.
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00:00:15,015 --> 00:00:16,755
- I worked in Brooklyn
for my father.
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I did very well.
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But I always wanted
to be in Manhattan.
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- The 1973 lawsuit alleges
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00:00:22,892 --> 00:00:24,546
rampant discrimination
on the part of
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the Trump Organization.
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[camera shutters clicking]
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- Roy Cohn assures Donald that
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00:00:28,941 --> 00:00:30,726
they can do into this and wi;
they don't.
15
00:00:30,856 --> 00:00:33,642
They lose; they have to settle
with the federal government.
16
00:00:33,772 --> 00:00:36,688
- Donald Trump,
through a complicated series
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00:00:36,819 --> 00:00:39,735
of absolute moxie maneuvers,
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00:00:39,865 --> 00:00:43,608
managed to get a huge tax break.
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00:00:43,739 --> 00:00:45,523
- People ask me,
how is that you got
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00:00:45,654 --> 00:00:47,308
40 years of tax abatement?
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00:00:47,438 --> 00:00:49,832
And I'd always say,
because I didn't ask for 50.
22
00:00:49,962 --> 00:00:53,879
- Donald Trump is the consummate
constant negotiator.
23
00:00:54,010 --> 00:00:55,664
- My father, Fred Trump.
- Right.
24
00:00:55,794 --> 00:00:57,535
- Fred Trump was amazed
that his little boy
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00:00:57,666 --> 00:01:01,800
had graduated to a premiere
address in Manhattan.
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00:01:01,931 --> 00:01:04,194
- He was not yet 40 years old,
27
00:01:04,325 --> 00:01:07,719
and he was a force
to be reckoned with.
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00:01:07,850 --> 00:01:08,807
♪
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00:01:10,287 --> 00:01:11,810
[traffic honking]
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- No.
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- In many ways,
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Donald Trump does see
life in Darwinian terms.
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It's survival of the fittest.
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The world is made
of winners and losers.
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The winners achieve
at a very high level,
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and everyone else is a loser.
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00:01:42,493 --> 00:01:44,582
- You were saying
about this lounge act?
38
00:01:44,713 --> 00:01:45,496
- Oh.
- Oh, yeah...
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00:02:04,472 --> 00:02:05,342
♪
40
00:02:10,565 --> 00:02:11,609
- Hm.
41
00:02:14,264 --> 00:02:15,178
♪
42
00:02:23,534 --> 00:02:24,535
- Hm.
43
00:02:54,478 --> 00:02:57,307
- The world really was
made up of winners and losers,
44
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and there was really
nothing in between.
45
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Losers deserve no respect.
46
00:03:02,834 --> 00:03:05,576
[rousing western music]
47
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♪
48
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[suspenseful string music]
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♪
50
00:03:40,002 --> 00:03:43,048
- The great American dream
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has always been
to become a millionaire.
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♪
53
00:03:49,316 --> 00:03:52,623
For the people
who have nothing,
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00:03:52,754 --> 00:03:55,626
do you think
that's a reality today?
55
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Excuse me--
I can hear all of you over there
56
00:03:58,150 --> 00:03:59,630
and I can't concentrate, so
57
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could all of you
please disappear?
58
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Thank you.
59
00:04:05,897 --> 00:04:08,160
You're 34 years old.
60
00:04:08,291 --> 00:04:10,380
Where did you get the incentive?
- So--
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00:04:10,511 --> 00:04:12,730
- I mean, 34.
It's so young, Donald.
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00:04:12,861 --> 00:04:14,776
- Well, I don't look at,
really, in my case,
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necessarily incentive.
64
00:04:16,038 --> 00:04:17,082
I enjoy what I'm doing.
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00:04:17,213 --> 00:04:18,562
I really enjoy what I'm doing.
66
00:04:18,692 --> 00:04:21,086
I look at it
as being somewhat creative.
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00:04:21,216 --> 00:04:23,001
And I find this business
to be show business, frankly.
68
00:04:23,132 --> 00:04:24,394
You know, in terms of
what we've done,
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00:04:24,525 --> 00:04:26,657
I'd like to make it
a little bit showbizy.
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00:04:26,788 --> 00:04:28,268
'Cause I don't like
show business that much.
71
00:04:28,398 --> 00:04:29,704
I do like
the real estate business.
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00:04:29,834 --> 00:04:31,706
But I like the concept
of show business
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00:04:31,836 --> 00:04:35,187
as it relates--as it relates
to the real estate business.
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00:04:35,318 --> 00:04:37,364
- Trump's skill from
the very beginning
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00:04:37,494 --> 00:04:39,496
it's building
"Trump," the brand,
76
00:04:39,627 --> 00:04:42,238
building Trump, the man,
as the centerpiece,
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as the character that
people in America
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00:04:44,762 --> 00:04:46,111
will aspire to be like.
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00:04:46,242 --> 00:04:47,939
They're driven by the name.
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00:04:48,070 --> 00:04:50,855
[soft dramatic music]
81
00:04:50,986 --> 00:04:53,815
[machinery whirring]
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♪
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- When Donald
built Trump Tower,
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00:05:00,212 --> 00:05:04,304
it was a monumental
accomplishment,
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because nothing had really
been done like this before.
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00:05:06,828 --> 00:05:08,395
♪
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00:05:08,525 --> 00:05:10,048
- Since its opening
in February,
88
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it's become a major landmark.
89
00:05:12,224 --> 00:05:14,749
- It was a tourist attraction.
90
00:05:14,879 --> 00:05:17,447
There's no other
residential building
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00:05:17,578 --> 00:05:21,103
that people walked down
5th Avenue to walk into.
92
00:05:21,233 --> 00:05:23,584
And they want to see it.
93
00:05:23,714 --> 00:05:25,150
They want to know
what it's like.
94
00:05:25,281 --> 00:05:27,457
They want to touch it
and feel it.
95
00:05:27,588 --> 00:05:32,375
- He realized
his name is his power.
96
00:05:32,506 --> 00:05:35,552
This is his brand.
97
00:05:35,683 --> 00:05:38,947
He put it on there bigger
and better than anybody did.
98
00:05:39,077 --> 00:05:41,776
Trump, Trump,
Trump, Trump, Trump.
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00:05:41,906 --> 00:05:43,168
And guess what?
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00:05:43,299 --> 00:05:44,518
People walked away and said,
101
00:05:44,648 --> 00:05:48,173
"That's Donald Trump's!"
102
00:05:48,304 --> 00:05:51,394
- Donald Trump is a
major dealmaker, a swashbuckler.
103
00:05:51,525 --> 00:05:54,310
He takes chances that would
make a less daring man shudde,
104
00:05:54,441 --> 00:05:55,398
and he has
made his money mainly
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00:05:55,529 --> 00:05:57,139
from Manhattan real estate.
106
00:05:57,269 --> 00:05:59,620
- From the very beginning,
Donald had
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00:05:59,750 --> 00:06:03,406
a natural understanding
of how to build his brand.
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00:06:03,537 --> 00:06:08,150
♪
109
00:06:08,280 --> 00:06:13,155
- He realized what Americans
really loved was celebrity.
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00:06:13,285 --> 00:06:15,462
If you were a celebrity,
everything was possible.
111
00:06:15,592 --> 00:06:17,768
- And that's what you want--
Chanel.
112
00:06:17,899 --> 00:06:20,336
- He watched commercials
where you have
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00:06:20,467 --> 00:06:22,599
ballplayers and everyone else
endorsing products.
114
00:06:22,730 --> 00:06:24,906
- Beauty Mist pantyhose
can make any legs
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look like a million dollars.
116
00:06:27,256 --> 00:06:28,388
- People buy them
'cause they're
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00:06:28,518 --> 00:06:30,868
associated with glamour.
118
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And he decided
if it can sell popular drink,
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it could sell his real estate.
120
00:06:35,525 --> 00:06:37,397
- From America's
favorite coffee maker.
121
00:06:37,527 --> 00:06:40,225
- So he wanted to become
a celebrity as a developer.
122
00:06:40,356 --> 00:06:41,879
- He knew that he wanted to be
123
00:06:42,010 --> 00:06:43,881
famous and
fabulous and terrific,
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and he was gonna do
whatever it took to get there.
125
00:06:46,667 --> 00:06:48,146
Who do you turn to?
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00:06:48,277 --> 00:06:50,714
Everyone knows
the most famous legal eagle,
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00:06:50,845 --> 00:06:52,673
my pal and yours, Roy Cohn.
128
00:06:52,803 --> 00:06:54,239
- Good evening, Nikki.
How are you?
129
00:06:54,370 --> 00:06:56,111
- Roy was a tough guy,
130
00:06:56,241 --> 00:06:59,027
and usually a trendsetter,
and really
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00:06:59,157 --> 00:07:02,334
had his finger on
the pulse of what was going on.
132
00:07:02,465 --> 00:07:03,858
- He's a familiar figure
in the best
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00:07:03,988 --> 00:07:06,687
restaurants and
tailors and barbershops.
134
00:07:06,817 --> 00:07:08,819
The rich and
the powerful and famous
135
00:07:08,950 --> 00:07:10,952
seek him out.
136
00:07:11,082 --> 00:07:14,390
- Trump saw a powerful lawyer
137
00:07:14,521 --> 00:07:17,654
who could open Manhattan to him,
138
00:07:17,785 --> 00:07:20,309
who could open
his magic Rolodex
139
00:07:20,440 --> 00:07:22,572
and introduce him
to everyone--
140
00:07:22,703 --> 00:07:24,879
all of that people
that young Donald Trump
141
00:07:25,009 --> 00:07:26,968
coming in from Queens
wanted to meet.
142
00:07:27,098 --> 00:07:28,839
- What motivates Roy Cohn?
143
00:07:28,970 --> 00:07:31,102
- Uh, I would say
power motivates me.
144
00:07:31,233 --> 00:07:33,104
Having power motivates me,
145
00:07:33,235 --> 00:07:36,891
because by having power
I am able to do things.
146
00:07:37,021 --> 00:07:38,457
[jazzy music]
147
00:07:38,588 --> 00:07:39,720
- His parties were the weirdest
148
00:07:39,850 --> 00:07:41,896
kind of panoply of people.
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00:07:42,026 --> 00:07:43,985
The wealth, the power
that was concentrated
150
00:07:44,115 --> 00:07:46,509
in his living room...
151
00:07:46,640 --> 00:07:48,250
Andy Warhol was in the corner,
152
00:07:48,380 --> 00:07:50,207
and Norman Mailer
would strut in.
153
00:07:50,339 --> 00:07:52,776
Barbara Walters would stop in.
154
00:07:52,907 --> 00:07:54,865
Mike Wallace
came to a couple parties.
155
00:07:54,996 --> 00:07:56,345
And then Donald Trump
shows up.
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00:07:56,476 --> 00:07:58,913
♪
157
00:07:59,043 --> 00:08:01,437
- When young Donald Trump
would come into the room,
158
00:08:01,568 --> 00:08:03,787
the energy around Roy
would change.
159
00:08:03,918 --> 00:08:06,224
He would say, "Donald is her.
Donald is here,"
160
00:08:06,355 --> 00:08:09,924
almost as if there was
some sort of, uh, attraction.
161
00:08:10,054 --> 00:08:12,187
[upbeat music]
162
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- Once in a while
he'll escort a model,
163
00:08:14,668 --> 00:08:17,061
but New York's matchmakers
have given up on him.
164
00:08:17,192 --> 00:08:19,934
He's just not
the marrying kind.
165
00:08:20,064 --> 00:08:22,457
- Roy was a of time when,
166
00:08:22,589 --> 00:08:25,592
in a certain part of New York,
it was okay to be gay
167
00:08:25,722 --> 00:08:28,682
so long as you weren't
"out there" gay.
168
00:08:28,812 --> 00:08:31,206
He was embarrassed
about being gay,
169
00:08:31,336 --> 00:08:34,338
and he needed that secret
held from the public.
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00:08:34,470 --> 00:08:36,167
It would have ruined
his macho image.
171
00:08:36,298 --> 00:08:39,475
- Trump was keenly aware that,
uh, Cohn was gay.
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00:08:39,606 --> 00:08:41,869
Uh, and to Trump,
that was totally fine.
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He never made
any problem of that,
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00:08:44,741 --> 00:08:48,397
because he valued Cohn
for his connections.
175
00:08:48,528 --> 00:08:52,009
- This is a picture
that hangs in my office
176
00:08:52,140 --> 00:08:55,665
directly alongside one of
the President and Mrs. Reagan,
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00:08:55,796 --> 00:08:57,275
two of my favorite people.
178
00:08:57,406 --> 00:08:59,756
And the picture is
of Donald and me,
179
00:08:59,887 --> 00:09:03,804
in which he says,
"Roy is my greatest friend."
180
00:09:03,934 --> 00:09:05,762
He always has time
181
00:09:05,893 --> 00:09:08,635
for little things, for friends.
182
00:09:08,765 --> 00:09:10,637
He--he never forgets
to make a phone call.
183
00:09:10,767 --> 00:09:14,292
If he says he'll do something,
you know it's done.
184
00:09:14,423 --> 00:09:16,164
- Roy would fight for me
to the death.
185
00:09:16,294 --> 00:09:17,818
For me.
- Right.
186
00:09:17,948 --> 00:09:19,297
- Not everybody.
- But not for everybody.
187
00:09:19,428 --> 00:09:21,691
- Yeah.
He was very loyal, amazing.
188
00:09:21,822 --> 00:09:24,651
He would kill for
a person that he really like.
189
00:09:24,781 --> 00:09:28,350
- Ostensibly,
Roy was just Trump's lawyer.
190
00:09:28,480 --> 00:09:30,308
But he was so much more.
He was a fixer.
191
00:09:30,439 --> 00:09:31,962
He was a connector.
He was a maker.
192
00:09:32,093 --> 00:09:34,225
He was a mentor.
He believed in Trump.
193
00:09:34,356 --> 00:09:36,837
And Trump knew that Roy
194
00:09:36,967 --> 00:09:39,840
could be a father figure,
a teacher.
195
00:09:39,970 --> 00:09:42,538
He was the one who
introduced Trump to Manhattan.
196
00:09:42,669 --> 00:09:45,106
- Fasten your
jet-set seat belts!
197
00:09:45,236 --> 00:09:48,239
It's "The Nikki Haskell Show"
direct from New York.
198
00:09:48,370 --> 00:09:50,067
Next stop for me:
199
00:09:50,198 --> 00:09:52,069
the world-famous Studio 54.
200
00:09:52,200 --> 00:09:54,245
[upbeat disco music]
201
00:09:54,376 --> 00:09:56,334
It was the hottest club
in town,
202
00:09:56,465 --> 00:09:58,119
'cause you couldn't get in.
203
00:09:58,249 --> 00:09:59,816
There were thousands of people
204
00:09:59,947 --> 00:10:01,775
all the way around the block.
205
00:10:01,905 --> 00:10:03,559
- One of the bouncers,
maître d's
206
00:10:03,690 --> 00:10:04,995
would walk down the line,
207
00:10:05,126 --> 00:10:06,997
and he would actually
select people
208
00:10:07,128 --> 00:10:08,738
that were able to come in,
you know?
209
00:10:08,869 --> 00:10:10,044
He would look at you and say,
"You can come.
210
00:10:10,174 --> 00:10:11,654
You can't,"
so on and so forth.
211
00:10:11,785 --> 00:10:14,352
- Roy was able
to get Donald Trump
212
00:10:14,483 --> 00:10:15,571
a pass so he didn't
wait on line.
213
00:10:15,702 --> 00:10:18,269
He got right into Studio 54.
214
00:10:18,400 --> 00:10:21,403
Trump, who was chasing models
at the time,
215
00:10:21,533 --> 00:10:26,451
took great pleasure that
Roy Cohn helped do that for him.
216
00:10:26,582 --> 00:10:29,367
- Trump would go about
getting himself noticed
217
00:10:29,498 --> 00:10:31,239
by the photographers
and the TV cameras
218
00:10:31,369 --> 00:10:33,937
with whatever celebrity
was there,
219
00:10:34,068 --> 00:10:37,027
whether it was Madonna
or one of the new models.
220
00:10:37,158 --> 00:10:39,203
- Oh, there was women
everywhere there.
221
00:10:39,334 --> 00:10:40,857
I mean, there was rooms
in there--
222
00:10:40,988 --> 00:10:42,380
there was one section
where you'd go in
223
00:10:42,511 --> 00:10:44,034
an have sex in there,
if you want.
224
00:10:44,165 --> 00:10:45,645
Now, I never did that
to be honest with you.
225
00:10:45,775 --> 00:10:46,907
But it was--
it was a crazy place.
226
00:10:47,037 --> 00:10:48,909
♪
227
00:10:49,039 --> 00:10:53,348
- Donald believed that
every woman loved him
228
00:10:53,478 --> 00:10:58,614
and that women
were drawn to him.
229
00:10:58,745 --> 00:11:00,747
- You were such
a straight arrow.
230
00:11:00,877 --> 00:11:04,228
- Well, I wasn't straight
in the sense that, uh,
231
00:11:04,359 --> 00:11:08,363
you know, I would be
wild in other ways.
232
00:11:08,493 --> 00:11:09,973
But I was never a drinker...
233
00:11:10,104 --> 00:11:11,627
- Like what?
- I was never--
234
00:11:11,758 --> 00:11:13,324
- What did you ever do
that was wild?
235
00:11:13,455 --> 00:11:16,197
- Well, I loved women.
236
00:11:16,327 --> 00:11:17,546
[jazzy upbeat music]
237
00:11:17,677 --> 00:11:19,417
- Donald Trump was never
a man who
238
00:11:19,548 --> 00:11:21,376
was dying to settle down.
239
00:11:21,506 --> 00:11:24,118
He was a playboy about town.
240
00:11:24,248 --> 00:11:25,859
- I think that Trump
always felt that
241
00:11:25,989 --> 00:11:28,383
being surrounded
by beautiful women
242
00:11:28,513 --> 00:11:30,864
was part of the aura
he needed to develop.
243
00:11:30,994 --> 00:11:35,216
He felt that a, uh,
surround sound of blondes,
244
00:11:35,346 --> 00:11:38,132
"tens," as he would call them,
was essential for his look.
245
00:11:38,262 --> 00:11:41,091
[pensive music]
246
00:11:48,708 --> 00:11:49,621
- Mm.
247
00:11:52,407 --> 00:11:53,974
- When I interviewed Ivana,
248
00:11:54,104 --> 00:11:56,411
she told me about
the chance encounter
249
00:11:56,540 --> 00:11:58,195
that was going to
change her life.
250
00:12:04,898 --> 00:12:05,768
- [chuckles]
251
00:12:16,039 --> 00:12:19,303
- He very ostentatiously
252
00:12:19,434 --> 00:12:22,219
volunteered to make sure
they were seated
253
00:12:22,350 --> 00:12:24,308
if they let him join them.
254
00:12:29,836 --> 00:12:30,750
- [chuckles]
255
00:12:49,812 --> 00:12:50,770
- Huh.
256
00:13:00,649 --> 00:13:01,519
- [chuckles]
257
00:13:12,966 --> 00:13:15,142
- He starts pursuing her
on the phone,
258
00:13:15,272 --> 00:13:17,797
sending her
notes, flowers, letters,
259
00:13:17,927 --> 00:13:20,974
and lots and lots
of clippings about himself
260
00:13:21,104 --> 00:13:23,498
and his nascent business career.
261
00:13:23,628 --> 00:13:26,544
She's fairly impressed
by this guy.
262
00:13:26,675 --> 00:13:28,764
[tender music]
263
00:13:28,895 --> 00:13:32,986
Ivana's a child
in communist Czechoslovakia.
264
00:13:33,116 --> 00:13:35,815
She was relatively deprived.
265
00:13:35,945 --> 00:13:38,382
But her father sent her to
266
00:13:38,513 --> 00:13:42,778
a skiing camp
when she was 14 in Italy.
267
00:13:42,909 --> 00:13:45,781
And that's what originally
introduced her to
268
00:13:45,912 --> 00:13:48,349
the luxuries of the west.
269
00:13:48,479 --> 00:13:51,482
Beautiful jewelry and clothing,
270
00:13:51,613 --> 00:13:54,355
perfumes, and luxury cars.
271
00:13:54,485 --> 00:13:58,446
And that became a touchstone,
I think, for her life
272
00:13:58,576 --> 00:14:01,057
that has never changed.
273
00:14:01,188 --> 00:14:03,059
♪
274
00:14:03,190 --> 00:14:05,627
- When he asked her
to marry him,
275
00:14:05,757 --> 00:14:08,630
she said yes.
276
00:14:08,760 --> 00:14:10,675
- Donald really
wanted to marry Ivana.
277
00:14:10,806 --> 00:14:12,634
Ivana had other choices,
278
00:14:12,764 --> 00:14:15,028
and she chose Donald.
279
00:14:15,158 --> 00:14:17,987
The wedding was lovely.
280
00:14:18,118 --> 00:14:22,165
Ivana was a beautiful bride,
very simple.
281
00:14:22,296 --> 00:14:26,169
- Very soon after
Donald and Ivana are married,
282
00:14:26,300 --> 00:14:28,302
the children arrive.
283
00:14:28,432 --> 00:14:30,695
- First one was a boy,
which was fantastic.
284
00:14:30,826 --> 00:14:31,827
The pressure was off.
285
00:14:31,958 --> 00:14:33,960
The second one was a girl,
286
00:14:34,090 --> 00:14:35,787
which is just adorable.
287
00:14:35,918 --> 00:14:37,833
And the third one
was a boy again,
288
00:14:37,964 --> 00:14:39,574
so my job is done.
289
00:14:39,704 --> 00:14:41,750
I said, "That's it.
Shop is closed."
290
00:14:44,318 --> 00:14:45,319
[indistinct chatter]
291
00:14:45,449 --> 00:14:46,450
- Go ahead.
Go ahead.
292
00:14:46,581 --> 00:14:49,062
- Ooh.
- Hello. Hello.
293
00:14:49,192 --> 00:14:51,760
[indistinct chatter]
294
00:15:03,728 --> 00:15:06,688
- Donald and Ivana
were the golden couple.
295
00:15:06,818 --> 00:15:10,257
And they were very much
a part of what was going on.
296
00:15:10,387 --> 00:15:11,911
[upbeat jazzy music]
297
00:15:12,041 --> 00:15:13,825
- They were on the scene.
298
00:15:13,956 --> 00:15:15,915
They were at
every ball at The Met
299
00:15:16,045 --> 00:15:19,353
or opening of the opera.
300
00:15:19,483 --> 00:15:21,746
[indistinct talking]
[camera shutters clicking]
301
00:15:21,877 --> 00:15:23,705
You would actually
see the two of them
302
00:15:23,835 --> 00:15:26,403
in these kind of places
which were the essential
303
00:15:26,534 --> 00:15:29,972
Park Avenue "I've arrived"
kind of evening out.
304
00:15:30,103 --> 00:15:32,279
- Both Donald and Ivana
were wedded
305
00:15:32,409 --> 00:15:34,324
by this mutual ambition
306
00:15:34,455 --> 00:15:36,022
to become even wealthier than
307
00:15:36,152 --> 00:15:37,893
they already were
and to become
308
00:15:38,024 --> 00:15:40,156
part of the celebrity circuit
in Manhattan.
309
00:15:40,287 --> 00:15:42,332
- She was a reflection on him.
310
00:15:42,463 --> 00:15:43,768
I mean, she was so beautiful.
311
00:15:43,899 --> 00:15:45,901
She really, really
was beautiful.
312
00:15:46,032 --> 00:15:47,424
He liked hearing that.
313
00:15:47,555 --> 00:15:49,296
[applause]
- My wife and helper
314
00:15:49,426 --> 00:15:51,776
and, uh, a lady
of very good taste.
315
00:15:51,907 --> 00:15:53,691
So, I, um, I'm very happy--
[crowd chuckles]
316
00:15:53,822 --> 00:15:55,389
I'm very happy to have Ivana.
[crowd aww's]
317
00:15:55,519 --> 00:15:57,521
She keeps--she keeps
me toned down a little bit.
318
00:15:57,652 --> 00:15:59,001
- I think Donald,
319
00:15:59,132 --> 00:16:00,568
to the extent
that he can love anyone,
320
00:16:00,698 --> 00:16:02,962
loves Ivana--
he certainly appeared to.
321
00:16:03,092 --> 00:16:05,442
He respected her tremendously.
322
00:16:05,573 --> 00:16:08,054
[somber piano music]
323
00:16:08,184 --> 00:16:11,535
He gave her a position
of some power,
324
00:16:11,666 --> 00:16:13,755
because he thought that
she could handle it
325
00:16:13,885 --> 00:16:15,713
and he thought
she was very smart.
326
00:16:15,844 --> 00:16:17,411
- In many ways, Ivana was
327
00:16:17,541 --> 00:16:19,326
a better businessperson
than Donald,
328
00:16:19,456 --> 00:16:21,067
because she knew the numbers.
329
00:16:21,197 --> 00:16:22,372
[camera shutters clicking]
330
00:16:22,503 --> 00:16:24,026
- Ivana was a very important--
331
00:16:24,157 --> 00:16:25,810
more important
than people realize--
332
00:16:25,941 --> 00:16:28,074
a figure in Trump's rise.
333
00:16:31,381 --> 00:16:34,428
[soft suspenseful music]
334
00:16:34,558 --> 00:16:36,560
- Donald Trump,
back in the day,
335
00:16:36,691 --> 00:16:39,433
was a flirt, he was fun,
he was like
336
00:16:39,563 --> 00:16:42,610
almost all the developers
in New York City.
337
00:16:42,740 --> 00:16:45,395
They put up glass and mirrors
and they are glass and mirrors.
338
00:16:45,526 --> 00:16:48,268
- He was just part of
the bloodstream
339
00:16:48,398 --> 00:16:50,922
of New York society,
340
00:16:51,053 --> 00:16:53,447
New York business,
New York tabloids.
341
00:16:53,577 --> 00:16:55,927
You just knew him.
342
00:16:56,058 --> 00:16:59,192
- Boy, there's a lot
of coverage tonight.
343
00:16:59,322 --> 00:17:01,368
- I first encountered
Donald Trump
344
00:17:01,498 --> 00:17:03,761
in a very typical New York way.
345
00:17:03,892 --> 00:17:06,589
It was my first job
for "New York Newsday"
346
00:17:06,721 --> 00:17:08,636
and I had written a column
on Donald Trump.
347
00:17:08,766 --> 00:17:10,029
And I said he looked like
348
00:17:10,159 --> 00:17:11,856
he'd had a couple
of extra sandwiches.
349
00:17:11,987 --> 00:17:13,771
[laughs]
He got so mad
350
00:17:13,902 --> 00:17:16,470
that he had a--
a mutual friend
351
00:17:16,599 --> 00:17:19,299
introduce us
to prove that he wasn't fat.
352
00:17:19,429 --> 00:17:21,605
[laughs]
353
00:17:21,736 --> 00:17:24,173
I really was always
very, very fond of him,
354
00:17:24,304 --> 00:17:26,480
as a New York character.
355
00:17:26,609 --> 00:17:28,917
- He works the tabloids
from the start,
356
00:17:29,048 --> 00:17:30,832
cultivates
the gossip columnists,
357
00:17:30,962 --> 00:17:33,443
makes himself useful
to the reporters,
358
00:17:33,574 --> 00:17:36,794
to tell them to cover events
that he would be appearing a.
359
00:17:36,925 --> 00:17:38,709
- You'd read about him
on the front page
360
00:17:38,840 --> 00:17:41,016
of the "New York Post"
and the "New York Daily News"
361
00:17:41,147 --> 00:17:43,801
sometimes the business section
of "The New York Times."
362
00:17:43,932 --> 00:17:45,673
He was a big deal.
363
00:17:45,803 --> 00:17:49,068
- He was generating and grooming
this image of himself
364
00:17:49,198 --> 00:17:52,767
as a successful millionaire.
365
00:17:52,897 --> 00:17:55,161
- You are seen
at all the right parties.
366
00:17:55,291 --> 00:17:57,467
You are on the covers
of all the magazines.
367
00:17:57,598 --> 00:18:00,427
Do you cultivate a high profile?
- No, I don't.
368
00:18:00,557 --> 00:18:02,255
For some reason,
I mean, people call
369
00:18:02,385 --> 00:18:03,778
and they want to do something.
370
00:18:03,908 --> 00:18:05,127
If "Newsweek" calls
and they say,
371
00:18:05,258 --> 00:18:06,824
"Donald, we want to
do a cover story,"
372
00:18:06,955 --> 00:18:08,478
I guess you sort of
have to go along with it.
373
00:18:08,609 --> 00:18:10,306
And that happened.
And other things happened.
374
00:18:10,437 --> 00:18:12,047
And it's just something
that happens, Jane.
375
00:18:12,178 --> 00:18:13,875
I can't really tell you why.
Maybe you can tell me.
376
00:18:14,005 --> 00:18:16,182
- You are Mr. Make-It-Happen.
- Well, it does happen.
377
00:18:16,312 --> 00:18:17,748
- You make things happen
in your life.
378
00:18:17,879 --> 00:18:19,141
- Well, that's good.
It's what I want to do.
379
00:18:19,272 --> 00:18:20,577
♪
380
00:18:20,708 --> 00:18:22,013
- He would call you up
381
00:18:22,144 --> 00:18:24,364
and plant stories.
382
00:18:24,494 --> 00:18:25,930
- I'll tell you what, Bernie,
come in and see me.
383
00:18:26,061 --> 00:18:27,584
Let's you and I talk,
and then we'll see.
384
00:18:27,715 --> 00:18:29,934
We'll go from that stage.
Does that sound all right?
385
00:18:30,065 --> 00:18:33,155
- We knew he was lying
and calling everybody
386
00:18:33,286 --> 00:18:35,157
with the same story
to see who'd bite.
387
00:18:35,288 --> 00:18:37,986
But once you got
a real relationship with him,
388
00:18:38,117 --> 00:18:40,945
he was very honorable
about only calling you
389
00:18:41,076 --> 00:18:44,601
[laughs]
with his fake stories.
390
00:18:44,732 --> 00:18:46,647
- The press actually loved him,
391
00:18:46,777 --> 00:18:49,084
because what you discover
with press:
392
00:18:49,215 --> 00:18:50,433
they love access, right?
393
00:18:50,564 --> 00:18:51,565
I mean, it's a hard thing
394
00:18:51,695 --> 00:18:53,610
to write columns every day.
395
00:18:53,741 --> 00:18:55,786
And the people that you,
in the end, love
396
00:18:55,917 --> 00:18:58,441
and give the most attention to
if you're a gossip columnist
397
00:18:58,572 --> 00:19:00,574
are the ones who
give you the most access
398
00:19:00,704 --> 00:19:02,402
and will let you in.
399
00:19:02,532 --> 00:19:03,794
- A little wave at the press
400
00:19:03,925 --> 00:19:06,145
as you, uh, sail off
into the sunset?
401
00:19:06,275 --> 00:19:08,016
- You're gonna like this one,
I think.
402
00:19:08,147 --> 00:19:11,976
- And they repay you
with coverage.
403
00:19:12,107 --> 00:19:13,674
- Did you get enough shots
today, fellas?
404
00:19:13,804 --> 00:19:15,502
- He became a media star.
405
00:19:15,632 --> 00:19:17,982
- Looking this way, please?
Thank you.
406
00:19:18,113 --> 00:19:19,636
♪
407
00:19:19,767 --> 00:19:21,421
- I think
media and Donald Trump
408
00:19:21,551 --> 00:19:23,074
were a perfect marriage.
409
00:19:23,205 --> 00:19:25,512
Together, we created a baby,
410
00:19:25,642 --> 00:19:28,428
and the baby was
Donald Trump the character.
411
00:19:28,558 --> 00:19:30,212
- We created a monster here.
412
00:19:30,343 --> 00:19:32,388
- And he couldn't have
done it on his own
413
00:19:32,519 --> 00:19:36,610
and we couldn't have created
that persona without him.
414
00:19:36,740 --> 00:19:39,656
[soft dramatic music]
415
00:19:39,787 --> 00:19:42,746
- The tabloids provided
an element of glamour to him.
416
00:19:42,877 --> 00:19:44,574
♪
417
00:19:44,705 --> 00:19:47,360
It all added, in his mind,
418
00:19:47,490 --> 00:19:50,885
up to the--the Trump brand.
419
00:19:51,015 --> 00:19:52,365
- The press has really come
because of
420
00:19:52,495 --> 00:19:54,410
the kind of projects
that I'm building.
421
00:19:54,541 --> 00:19:56,847
If I do Trump Tower in New York,
people love it,
422
00:19:56,978 --> 00:19:59,198
and the press loves it, and
people like reading about it.
423
00:19:59,328 --> 00:20:01,722
- And, of course,
the challenge to anyone
424
00:20:01,852 --> 00:20:04,594
who's as ambitious as
Donald Trump is
425
00:20:04,725 --> 00:20:07,336
is keeping it going.
426
00:20:07,467 --> 00:20:10,774
He has to look for
more ways to define himself
427
00:20:10,905 --> 00:20:13,951
as a winner and a success.
428
00:20:14,082 --> 00:20:15,910
- Our first guest tonight
on "Live at Five"
429
00:20:16,040 --> 00:20:18,260
is a familiar face,
he needs no introduction.
430
00:20:18,391 --> 00:20:20,480
Billionaire real estate tycoon
Donald Trump.
431
00:20:20,610 --> 00:20:22,264
He has now written a book.
432
00:20:22,395 --> 00:20:23,918
The name of the book is
"The Art of the Deal,"
433
00:20:24,048 --> 00:20:26,573
which you, uh, wrote
with Tony Schwartz.
434
00:20:26,703 --> 00:20:28,096
- When he told me
he was doing a book,
435
00:20:28,227 --> 00:20:29,967
I said,
"Well, what's the book?"
436
00:20:30,098 --> 00:20:32,100
And he said, "Well,
it's my autobiography."
437
00:20:32,231 --> 00:20:34,102
And I said, "If I were you,
I'd--
438
00:20:34,233 --> 00:20:35,886
I'd write a book
called 'The Art of the Deal.'"
439
00:20:36,017 --> 00:20:38,193
His instant response was,
440
00:20:38,324 --> 00:20:40,717
"Yeah, I like that.
Do you want to write it?"
441
00:20:40,848 --> 00:20:42,110
- I don't run my business
that way.
442
00:20:42,241 --> 00:20:43,329
- Yeah.
- See, the one problem I have
443
00:20:43,459 --> 00:20:45,113
with this--off the record--
444
00:20:45,244 --> 00:20:47,333
- Minutes into
the very first interview,
445
00:20:47,463 --> 00:20:49,030
he literally jumped out
of his chair and said,
446
00:20:49,160 --> 00:20:50,379
"I'm just sick of this."
447
00:20:50,510 --> 00:20:51,946
- Okay, do you have enough now?
448
00:20:52,076 --> 00:20:55,384
- It was clear that Trump
was incredibly impatient
449
00:20:55,515 --> 00:20:57,691
and had a very short
attention span.
450
00:20:57,821 --> 00:21:00,259
What dawned on me was
451
00:21:00,389 --> 00:21:01,564
that there was another way
to do the book.
452
00:21:01,695 --> 00:21:03,566
♪
453
00:21:03,697 --> 00:21:06,395
He lived on the phone.
454
00:21:06,526 --> 00:21:08,267
I was writing about deals,
455
00:21:08,397 --> 00:21:10,660
and deals were
what he focused on
456
00:21:10,791 --> 00:21:12,401
most of the time
over the phone.
457
00:21:12,532 --> 00:21:14,577
- Yes, uh, Mr. Riordan, please.
458
00:21:14,708 --> 00:21:16,275
Donald Trump.
459
00:21:16,405 --> 00:21:17,667
- If he wasn't making a deal,
460
00:21:17,798 --> 00:21:20,366
he was talking
to somebody in the media.
461
00:21:20,496 --> 00:21:22,411
- Right, I know, and--
and I have it very much in mind.
462
00:21:22,542 --> 00:21:23,804
When you want to get together?
463
00:21:23,934 --> 00:21:26,241
- So I started coming in
like a job.
464
00:21:26,372 --> 00:21:27,460
I'd come in
at 9:00 in the morning
465
00:21:27,590 --> 00:21:29,070
and I'd stay till 5:00.
466
00:21:29,200 --> 00:21:31,290
And I just listened.
467
00:21:31,420 --> 00:21:32,421
- What do you think it's worth?
468
00:21:32,552 --> 00:21:34,293
Unless you have an agreement,
469
00:21:34,423 --> 00:21:36,077
you don't even have to go public
on the [bleep] thing.
470
00:21:36,207 --> 00:21:37,208
Push him hard on that, Lou.
471
00:21:37,339 --> 00:21:38,427
Is that a low price?
472
00:21:38,558 --> 00:21:39,428
Let's get the [bleep] thing--
473
00:21:39,559 --> 00:21:40,908
let's get it done, okay?
474
00:21:41,038 --> 00:21:44,564
You take care.
So long.
475
00:21:44,694 --> 00:21:46,479
- Because he didn't
provide many details,
476
00:21:46,609 --> 00:21:48,089
I started going out
and interviewing
477
00:21:48,219 --> 00:21:49,656
the people he was talking to.
478
00:21:49,786 --> 00:21:52,311
Then I ran into a problem,
which was
479
00:21:52,441 --> 00:21:55,314
if I asked them about
what happened in these deals,
480
00:21:55,444 --> 00:21:58,142
it was not what Trump told me
had happened in these deals.
481
00:21:58,273 --> 00:21:59,753
It was quite different.
482
00:21:59,883 --> 00:22:01,145
- It frankly happens to be
good for them.
483
00:22:01,276 --> 00:22:03,409
- It never reflected on him
484
00:22:03,539 --> 00:22:06,586
in quite the winning way
his description of
485
00:22:06,716 --> 00:22:09,806
his role in the deal
reflected on him.
486
00:22:09,937 --> 00:22:13,070
It was during that period
that I came up with the phrae
487
00:22:13,201 --> 00:22:15,203
"truthful hyperbole."
488
00:22:15,334 --> 00:22:17,945
It means essentially that
what you're saying is false.
489
00:22:18,075 --> 00:22:21,078
But the whole persona
490
00:22:21,209 --> 00:22:23,559
that I was working
to create for Trump,
491
00:22:23,690 --> 00:22:26,867
to make him more winning
that he actually was,
492
00:22:26,997 --> 00:22:29,130
was to pass
that kind of thing off
493
00:22:29,260 --> 00:22:32,046
in a breezy, lighthearted way.
494
00:22:32,176 --> 00:22:34,178
[upbeat music]
495
00:22:34,309 --> 00:22:39,140
And it set him up
to be a national celebrity.
496
00:22:39,270 --> 00:22:41,795
- "Trump: The Art of the Deal."
[applause]
497
00:22:41,925 --> 00:22:46,277
You're a star, Mr. Trump,
and you're a businessman.
498
00:22:46,408 --> 00:22:48,323
- I'm telling you that
the turning point
499
00:22:48,454 --> 00:22:51,021
in Donald's life was when
he wrote "The Art of the Deal."
500
00:22:51,152 --> 00:22:53,328
Then everything fell into place.
501
00:22:53,459 --> 00:22:55,591
♪
502
00:22:55,722 --> 00:22:58,855
- This was the calling card
that would get him attention
503
00:22:58,986 --> 00:23:00,770
on national television.
504
00:23:00,901 --> 00:23:03,077
- If I can help people
to make deals, that's great.
505
00:23:03,207 --> 00:23:04,426
But if I can help people not to
506
00:23:04,557 --> 00:23:05,906
make deals that
shouldn't be doing it...
507
00:23:06,036 --> 00:23:07,298
- Mm-hmm.
- Maybe that's just as good.
508
00:23:07,429 --> 00:23:08,691
Every time
I come onto your show,
509
00:23:08,822 --> 00:23:09,823
I sell a lot of books,
so I don't--
510
00:23:09,953 --> 00:23:11,259
- We're making you famous.
511
00:23:11,390 --> 00:23:12,956
- You're making me famous?
- No, I--
512
00:23:13,087 --> 00:23:14,218
- It would actually
put him in the hands
513
00:23:14,349 --> 00:23:15,872
of millions of readers
514
00:23:16,003 --> 00:23:18,484
who absorbed this message
515
00:23:18,614 --> 00:23:21,965
of success and
doing what it takes to win
516
00:23:22,096 --> 00:23:23,402
at all costs.
517
00:23:23,532 --> 00:23:24,751
- You think he's
a good businessman?
518
00:23:24,881 --> 00:23:25,882
- Mm-hmm.
519
00:23:26,013 --> 00:23:28,058
[cheers and applause]
520
00:23:32,541 --> 00:23:35,196
- Here Donald has all these
successful projects going.
521
00:23:35,326 --> 00:23:38,199
He's the toast of the town.
522
00:23:38,329 --> 00:23:41,158
But he had his eyes set on
523
00:23:41,289 --> 00:23:42,856
another level of acceptance.
524
00:23:42,986 --> 00:23:44,118
♪
525
00:23:44,248 --> 00:23:46,990
- My name's Jonathan Greenberg.
526
00:23:47,121 --> 00:23:49,819
I was tapped to
start the Forbes 400,
527
00:23:49,950 --> 00:23:52,779
which is a list
of the richest Americans.
528
00:23:52,909 --> 00:23:55,782
[soft dramatic music]
529
00:23:55,912 --> 00:23:57,914
The first year
of the Forbes 400,
530
00:23:58,045 --> 00:24:01,744
we listed Donald Trump as,
like, 350th on the list,
531
00:24:01,875 --> 00:24:04,660
only for $100 million.
532
00:24:04,791 --> 00:24:06,967
He wanted to be
at the very top of the list.
533
00:24:07,097 --> 00:24:10,057
And it literally hurt him
534
00:24:10,187 --> 00:24:12,712
that there were people
who were worth more money
535
00:24:12,842 --> 00:24:15,497
on the list and that
everyone was gonna know it.
536
00:24:15,628 --> 00:24:17,586
♪
537
00:24:17,717 --> 00:24:19,458
I'm there at my desk.
538
00:24:19,588 --> 00:24:21,982
And the--the, uh, receptionist
at "Forbes" called me.
539
00:24:22,112 --> 00:24:25,246
"Jonathan,
Roy Cohn on the phone."
540
00:24:25,376 --> 00:24:27,117
He said, "I understand
you're doing this list
541
00:24:27,248 --> 00:24:28,945
"of, uh, rich people.
542
00:24:29,076 --> 00:24:31,295
"And Donny's asked me
to give you a call
543
00:24:31,426 --> 00:24:34,124
'cause it seems like you don't
have the right information."
544
00:24:38,172 --> 00:24:39,086
- Mm-hmm.
545
00:24:58,540 --> 00:25:01,195
- And so in the second year
of the Forbes 400,
546
00:25:01,325 --> 00:25:03,937
I upped his net worth
to $200 million.
547
00:25:04,067 --> 00:25:05,547
♪
548
00:25:06,548 --> 00:25:08,985
And then in May of 1984,
549
00:25:09,116 --> 00:25:12,641
I was doing the Forbes 400
once again.
550
00:25:12,772 --> 00:25:15,992
I received a call
from John Barron,
551
00:25:16,123 --> 00:25:19,169
the vice president of finance
for the Trump Organization.
552
00:25:29,049 --> 00:25:30,137
- Mm-hmm.
553
00:25:42,236 --> 00:25:43,542
- Many years later,
554
00:25:43,672 --> 00:25:45,892
I had 60 boxes
of folders and tapes
555
00:25:46,022 --> 00:25:47,589
that I had shipped back
556
00:25:47,720 --> 00:25:49,896
from New York to California
when I moved.
557
00:25:50,026 --> 00:25:52,028
And I start looking through it,
558
00:25:52,159 --> 00:25:53,987
and I see the tape.
559
00:25:54,117 --> 00:25:57,860
And it's like,
"John Barron, VP of finance."
560
00:25:57,991 --> 00:26:01,777
I never even remembered
that I interviewed John Barro.
561
00:26:01,908 --> 00:26:05,259
And I said, "I've gotta
listen to this tape."
562
00:26:20,056 --> 00:26:23,146
- I realized that
I had been conned.
563
00:26:23,277 --> 00:26:26,628
John Barron was Donald Trump,
and I never knew it.
564
00:26:26,759 --> 00:26:28,848
What really shocked me was
565
00:26:28,978 --> 00:26:32,286
how calculated and deliberate
the deception was.
566
00:26:32,416 --> 00:26:34,505
There's so much exaggeration
567
00:26:34,636 --> 00:26:35,985
that you don't know
568
00:26:36,116 --> 00:26:37,639
which are the lies
and which are true.
569
00:26:37,770 --> 00:26:40,033
And, in fact,
what's interesting about
570
00:26:40,163 --> 00:26:42,775
his acting as John Barron
"off the record,"
571
00:26:42,905 --> 00:26:44,994
he feels that he could
speak candidly
572
00:26:45,125 --> 00:26:47,127
about he really feels
about his father.
573
00:26:47,257 --> 00:26:48,476
♪
574
00:27:38,221 --> 00:27:40,136
♪
575
00:27:40,267 --> 00:27:42,486
- It's hard to know
what the real building blocks
576
00:27:42,617 --> 00:27:45,098
of that craving for attention,
577
00:27:45,228 --> 00:27:47,883
that craving for respect,
where that comes from.
578
00:27:48,014 --> 00:27:50,669
We know that his father
was extremely tough on him.
579
00:27:50,799 --> 00:27:52,845
He said to Donald
over and over,
580
00:27:52,975 --> 00:27:54,498
"You need to go out there
and succeed
581
00:27:54,629 --> 00:27:56,152
"like no one else has before.
582
00:27:56,283 --> 00:27:58,285
You can't just be
a regular guy."
583
00:27:58,415 --> 00:28:02,028
And so he was tremendously
driven by his father.
584
00:28:02,158 --> 00:28:03,812
- I think that
just the right amount
585
00:28:03,943 --> 00:28:06,772
of insecurity can make a drive
586
00:28:06,902 --> 00:28:08,338
that can take you
all the way through life.
587
00:28:08,469 --> 00:28:10,123
And in the case of Trump,
588
00:28:10,253 --> 00:28:12,908
I think it was a huge
driving force to him,
589
00:28:13,039 --> 00:28:15,781
made him want to be
bigger, brasher, richer.
590
00:28:15,911 --> 00:28:18,784
More press, more bylines,
more beautiful wives.
591
00:28:18,914 --> 00:28:22,352
It always was about more.
592
00:28:22,483 --> 00:28:23,963
- What I found out was that
593
00:28:24,093 --> 00:28:26,661
in 1982, Donald Trump's
real net worth
594
00:28:26,792 --> 00:28:30,578
was well under the $100 million
that I thought he was worth.
595
00:28:30,709 --> 00:28:32,014
♪
596
00:28:32,145 --> 00:28:33,450
- Donald Trump knew
597
00:28:33,581 --> 00:28:35,801
you could lie
and bluster and bluff
598
00:28:35,931 --> 00:28:37,411
and mow over people,
599
00:28:37,541 --> 00:28:39,587
and it would all
get you what you wanted.
600
00:28:39,718 --> 00:28:44,244
And Trump learned that
from Roy.
601
00:28:44,374 --> 00:28:47,116
- Donald Trump convinced me that
602
00:28:47,247 --> 00:28:49,858
he owned of his father's
real estate in Queens.
603
00:28:58,606 --> 00:29:01,130
- Not only did he not own
over 90%
604
00:29:01,261 --> 00:29:03,916
of his father's real estate
in Queens,
605
00:29:04,046 --> 00:29:06,266
but he'd used the Forbes 400
606
00:29:06,396 --> 00:29:09,443
to inflate net worth
to the banks.
607
00:29:11,314 --> 00:29:13,142
- Why didn't "Forbes,"
608
00:29:13,273 --> 00:29:15,710
a preeminent business
publication discover this?
609
00:29:15,841 --> 00:29:18,365
Well, you're dealing with
private organizations.
610
00:29:18,495 --> 00:29:21,194
So he can make claims
611
00:29:21,324 --> 00:29:23,239
that he owns this
and he owns that,
612
00:29:23,370 --> 00:29:25,676
and it's very hard to verify.
613
00:29:25,807 --> 00:29:27,853
So for many years,
614
00:29:27,983 --> 00:29:30,203
they had to go with
whatever Donald told them.
615
00:29:30,333 --> 00:29:31,813
- Anybody inside a bank
616
00:29:31,944 --> 00:29:34,163
that sees who's in the top
Forbes 400
617
00:29:34,294 --> 00:29:36,426
would want to try to associate
the bank
618
00:29:36,557 --> 00:29:37,950
with people on that list,
619
00:29:38,080 --> 00:29:39,734
because they would
be deemed to be
620
00:29:39,865 --> 00:29:42,128
the most marketable
and the most credit worthy.
621
00:29:42,258 --> 00:29:44,391
- Without getting
on the Forbes 400,
622
00:29:44,521 --> 00:29:47,133
Donald Trump would not have
been able to borrow
623
00:29:47,263 --> 00:29:50,658
that money that he borrowed
to build his business empire.
624
00:29:50,789 --> 00:29:53,574
♪
625
00:29:53,704 --> 00:29:56,490
That was the beginning
of his brand.
626
00:29:56,620 --> 00:29:58,405
♪
627
00:29:58,535 --> 00:30:00,929
- Trump, at this point,
is embarking on
628
00:30:01,060 --> 00:30:04,150
a massive spending spree
that he can't really finance
629
00:30:04,280 --> 00:30:05,499
with money from his own wallet.
630
00:30:05,629 --> 00:30:07,327
He is being financed by banks.
631
00:30:07,457 --> 00:30:09,720
And the banks
are giving him loans
632
00:30:09,851 --> 00:30:12,723
almost in a willing
suspension of disbelief.
633
00:30:12,854 --> 00:30:15,378
- In 1985,
he bought Mar-a-Lago,
634
00:30:15,509 --> 00:30:18,555
a 118-room mansion
in Palm Beach.
635
00:30:18,686 --> 00:30:20,644
- He bought the venerable
Eastern Shuttle.
636
00:30:20,775 --> 00:30:22,733
Of course, he named it "Trump."
637
00:30:22,864 --> 00:30:26,389
The price?
$365 million cash.
638
00:30:26,520 --> 00:30:28,957
- Wonder what he's gonna
buy next, I don't know.
639
00:30:29,088 --> 00:30:31,481
- The most publicity
he has ever gotten, however..
640
00:30:31,612 --> 00:30:34,006
- [screams]
- All right!
641
00:30:34,136 --> 00:30:37,966
- Was from his sudden decisin
to buy a football team.
642
00:30:38,097 --> 00:30:41,709
- Every time you turned around,
he bought something else
643
00:30:41,840 --> 00:30:45,844
that was icon
of stupendous wealth.
644
00:30:45,974 --> 00:30:49,325
What he was really doing
was building this Trump brand
645
00:30:49,456 --> 00:30:54,765
into something that could
roll its way over anything.
646
00:30:54,896 --> 00:30:56,985
- Anything else you want to buy,
as you look out there?
647
00:30:57,116 --> 00:30:59,248
Any good properties
that we can see?
648
00:30:59,379 --> 00:31:00,641
- I'd really like to buy
everything
649
00:31:00,771 --> 00:31:01,642
if that were possible.
650
00:31:01,772 --> 00:31:03,557
- [laughs] I'll bet you would.
651
00:31:03,687 --> 00:31:08,127
♪
652
00:31:08,257 --> 00:31:09,824
[air horns blaring]
653
00:31:09,955 --> 00:31:12,696
[stirring music]
654
00:31:12,827 --> 00:31:13,959
♪
655
00:31:14,089 --> 00:31:17,005
- Thank you very much.
656
00:31:17,136 --> 00:31:19,573
- I was assigned to handle
657
00:31:19,703 --> 00:31:22,924
New York, New Jersey,
and Connecticut
658
00:31:23,055 --> 00:31:27,494
for the Reagan campaign
of 1980.
659
00:31:27,624 --> 00:31:29,713
- We'll restore hope
and we'll welcome them
660
00:31:29,844 --> 00:31:33,152
into a great national crusade
to make America great again.
661
00:31:33,282 --> 00:31:35,241
[cheers and applause]
662
00:31:35,371 --> 00:31:37,373
- Roger Stone,
he was part of a group
663
00:31:37,504 --> 00:31:40,202
with Lee Atwater
and Paul Manafort.
664
00:31:40,333 --> 00:31:41,769
♪
665
00:31:41,900 --> 00:31:43,814
They were young.
They were aggressive.
666
00:31:43,945 --> 00:31:45,816
They were ambitious.
667
00:31:45,947 --> 00:31:47,688
They were very tough,
668
00:31:47,818 --> 00:31:49,820
and they didn't shy away from
669
00:31:49,951 --> 00:31:51,953
politics as a blood sport.
670
00:31:52,084 --> 00:31:55,739
It was war, and they
were determined to win it.
671
00:31:55,870 --> 00:31:57,916
- I was invited
to a dinner party.
672
00:31:58,046 --> 00:32:00,831
And Roy,
he was at the party.
673
00:32:00,962 --> 00:32:03,356
And I introduced myself, and
674
00:32:03,486 --> 00:32:05,575
I made my pitch for Reagan
675
00:32:05,706 --> 00:32:07,273
and why I thought he could win.
676
00:32:07,403 --> 00:32:09,362
Roy looked out the window
for a little bit.
677
00:32:09,492 --> 00:32:10,406
He returned to me, he said,
678
00:32:10,537 --> 00:32:13,105
"What you need is Donald Trump."
679
00:32:13,235 --> 00:32:16,673
♪
680
00:32:16,804 --> 00:32:20,982
- Roy had a way of
spotting political talent.
681
00:32:21,113 --> 00:32:24,290
Roy looked at Trump
and saw something,
682
00:32:24,420 --> 00:32:28,120
someone who could arise
in American politics.
683
00:32:28,250 --> 00:32:30,209
[pensive music]
684
00:32:30,339 --> 00:32:33,212
- Where do you see his future?
685
00:32:33,342 --> 00:32:34,865
- If ever there were
a man in America
686
00:32:34,996 --> 00:32:37,085
who thought big, it's Donald.
687
00:32:37,216 --> 00:32:40,045
I think New York
is just a small part.
688
00:32:40,175 --> 00:32:42,264
I think he looks at
the whole United States.
689
00:32:42,395 --> 00:32:45,398
And I think that
cities and peoples who
690
00:32:45,528 --> 00:32:47,139
have read about him in
691
00:32:47,269 --> 00:32:49,141
national magazines
and all of that
692
00:32:49,271 --> 00:32:52,013
are someday--
not too far distant future--
693
00:32:52,144 --> 00:32:53,754
are gonna find him
right at their doorstep.
694
00:32:53,884 --> 00:32:56,061
[rousing music]
695
00:32:56,191 --> 00:32:57,497
- Welcome to
"The Eleventh Hour."
696
00:32:57,627 --> 00:32:59,716
You've taken a posture as
697
00:32:59,847 --> 00:33:01,283
more than just a developer,
698
00:33:01,414 --> 00:33:02,850
more than just
a guy making money.
699
00:33:02,981 --> 00:33:04,286
- I've been
watching this country
700
00:33:04,417 --> 00:33:06,288
systematically being ripped off
701
00:33:06,419 --> 00:33:08,421
by Japan and West Germany
and so many others.
702
00:33:08,551 --> 00:33:09,726
They're laughing at us.
703
00:33:09,857 --> 00:33:11,598
They think we are
the biggest fools,
704
00:33:11,728 --> 00:33:13,948
the dumbest people in the world.
705
00:33:14,079 --> 00:33:15,994
[brooding music]
706
00:33:16,124 --> 00:33:19,606
- By the late 1980s,
it's impossible to separate
707
00:33:19,736 --> 00:33:21,912
Trump's political ambition
708
00:33:22,043 --> 00:33:24,002
from his personal ambition.
709
00:33:24,132 --> 00:33:25,916
They really are
one in the same.
710
00:33:26,047 --> 00:33:27,831
- Well, I'm a proud American.
711
00:33:27,962 --> 00:33:29,572
I mean, I have a great feeling
for this country, Larry.
712
00:33:29,703 --> 00:33:31,966
I love this country.
I think it's a great country.
713
00:33:32,097 --> 00:33:34,708
- Donald Trump is
a political figure
714
00:33:34,838 --> 00:33:36,492
as advertising man.
715
00:33:36,623 --> 00:33:38,103
- That's why
the country's losing
716
00:33:38,233 --> 00:33:39,887
billions and
hundreds of billions of dollars
717
00:33:40,018 --> 00:33:41,932
today, because of a mistake
in the tax law.
718
00:33:42,063 --> 00:33:43,847
- He is a great sloganeer.
719
00:33:43,978 --> 00:33:45,632
- We have countries out there
720
00:33:45,762 --> 00:33:46,937
that are our so-called allies.
721
00:33:47,068 --> 00:33:48,417
And I use the word "so-called"
722
00:33:48,548 --> 00:33:49,984
because they're a disaster
for this country.
723
00:33:50,115 --> 00:33:53,118
- He is great at presenting
724
00:33:53,248 --> 00:33:57,339
a small sound bite that is
going to provoke emotion.
725
00:33:57,470 --> 00:33:59,037
- We're gonna have
a war through weakness,
726
00:33:59,167 --> 00:34:00,299
because this country
is acting so weak
727
00:34:00,429 --> 00:34:02,736
toward Iran, it's pathetic.
728
00:34:02,866 --> 00:34:06,261
- Before 1988, I first
suggested to Donald Trump,
729
00:34:06,392 --> 00:34:07,871
"Why don't you make
a major speech
730
00:34:08,002 --> 00:34:09,960
and see what
the coverage is like?"
731
00:34:10,091 --> 00:34:13,616
Well, he liked that idea.
732
00:34:13,746 --> 00:34:17,228
I arranged for him to speak
in Portsmouth, New Hampshire.
733
00:34:17,359 --> 00:34:19,579
- Trump had attracted
over 900 people,
734
00:34:19,708 --> 00:34:21,407
more than three times
the audience
735
00:34:21,536 --> 00:34:23,844
that turned out
for Senator Robert Dole.
736
00:34:23,974 --> 00:34:25,541
- It's the first time I saw
737
00:34:25,672 --> 00:34:27,761
the phenomenon of Donald Trump
738
00:34:27,891 --> 00:34:31,460
within the context
of a political milieu.
739
00:34:31,591 --> 00:34:33,549
He has charisma.
740
00:34:33,679 --> 00:34:36,248
He has a certain
command presence.
741
00:34:36,378 --> 00:34:39,425
And it's not just that
he's tall and broad-shouldered
742
00:34:39,554 --> 00:34:42,993
and handsome, but there's
a self-confidence about him
743
00:34:43,123 --> 00:34:45,039
that is very attractive.
744
00:34:45,170 --> 00:34:47,215
It was electric.
745
00:34:47,346 --> 00:34:48,998
He was on fire.
746
00:34:49,130 --> 00:34:50,784
People wanted to know,
747
00:34:50,914 --> 00:34:53,091
"Does this mean
you're running for president?"
748
00:34:53,221 --> 00:34:54,788
[crowd cheering]
749
00:34:54,918 --> 00:34:57,399
- Live from
the Louisiana Superdome,
750
00:34:57,530 --> 00:34:59,619
"The Republicans
in New Orleans."
751
00:34:59,749 --> 00:35:02,970
- The Republican convention
in 1988
752
00:35:03,101 --> 00:35:05,973
was held in New Orleans.
753
00:35:06,104 --> 00:35:07,975
It was only
at the very last minute
754
00:35:08,106 --> 00:35:09,672
that Donald said,
755
00:35:09,803 --> 00:35:11,152
"You know, I think
I'll go to the convention."
756
00:35:11,283 --> 00:35:12,762
- Thanks, Ken
One foreign policy...
757
00:35:12,893 --> 00:35:15,374
I was a floor reporter for NBC.
758
00:35:15,504 --> 00:35:18,768
And one of the things,
as a floor reported, you do is
759
00:35:18,899 --> 00:35:22,381
that you just circle the floor,
looking to see who's there.
760
00:35:22,511 --> 00:35:26,472
And I'm walking around,
and suddenly I see Donald Trump.
761
00:35:26,602 --> 00:35:29,475
Well, lord knows,
he's interesting.
762
00:35:29,605 --> 00:35:32,173
You have flirted
with the idea of politics.
763
00:35:32,304 --> 00:35:34,523
Now you're here at
your first national convention.
764
00:35:34,654 --> 00:35:36,786
Does that get you interested
in possibly making the plunge?
765
00:35:36,917 --> 00:35:38,048
- Now you have to
tell me something.
766
00:35:38,179 --> 00:35:39,485
Who told you I flirted?
- Well--
767
00:35:39,615 --> 00:35:40,834
- I didn't know that I flirted.
- Well--
768
00:35:40,964 --> 00:35:42,488
And what surprises me
769
00:35:42,618 --> 00:35:44,577
is how little
things have changed.
770
00:35:44,707 --> 00:35:47,928
His immediate instinct
is to joust with you,
771
00:35:48,058 --> 00:35:52,280
to push back,
to question your assumptions.
772
00:35:52,411 --> 00:35:55,327
But you have said that if you
ran for president, you'd win.
773
00:35:55,457 --> 00:35:56,415
- I think I'd have
a very good chance.
774
00:35:56,545 --> 00:35:57,807
I mean, I like to win.
775
00:35:57,938 --> 00:35:58,808
When I do something,
I like to win.
776
00:35:58,939 --> 00:36:00,593
I like to--I like do well,
777
00:36:00,723 --> 00:36:02,029
and I think I'd probably
would have a pretty good chance.
778
00:36:02,160 --> 00:36:03,726
- And that's part of
the fascination
779
00:36:03,857 --> 00:36:05,728
of Donald Trump.
780
00:36:05,859 --> 00:36:08,209
For more than
a quarter of a century,
781
00:36:08,340 --> 00:36:10,733
he's been one of
the greatest shows on Earth.
782
00:36:10,864 --> 00:36:12,387
You don't know
what's he's gonna do next,
783
00:36:12,518 --> 00:36:15,521
or you don't know
what's gonna happen to him next,
784
00:36:15,651 --> 00:36:18,654
and you can't stop watching.
785
00:36:18,785 --> 00:36:19,960
♪
786
00:36:20,090 --> 00:36:21,396
- Roy called me.
787
00:36:21,527 --> 00:36:22,832
He said,
"They want to do another
788
00:36:22,963 --> 00:36:23,920
interview of me
at '60 Minutes.'"
789
00:36:24,051 --> 00:36:25,661
I said, "Don't do it, Roy.
790
00:36:25,792 --> 00:36:27,402
"You're making a big mistake.
791
00:36:27,533 --> 00:36:30,013
Nothing good's happening
for you now."
792
00:36:30,144 --> 00:36:31,841
Everyone was going after him.
793
00:36:31,972 --> 00:36:34,017
There's nothing good happening.
794
00:36:34,148 --> 00:36:36,890
- Controversy has surrounded
this man.
795
00:36:37,020 --> 00:36:40,110
Today at 58
he's still the combative lawyer
796
00:36:40,241 --> 00:36:43,853
fighting two of the greatest
battles of his life.
797
00:36:43,984 --> 00:36:45,812
- I saw him at a couple events,
798
00:36:45,942 --> 00:36:47,205
and he just looked sickly,
he looked thin.
799
00:36:47,335 --> 00:36:48,902
- [coughs]
800
00:36:49,032 --> 00:36:50,773
- And the rumor was
that he has AIDS.
801
00:36:50,904 --> 00:36:52,906
- Were those reports true?
- No.
802
00:36:53,036 --> 00:36:55,691
Categorically, no, I do not.
803
00:36:55,822 --> 00:36:59,304
- Do you have AIDS?
- No. No.
804
00:36:59,434 --> 00:37:02,524
That's easy to answer.
805
00:37:02,655 --> 00:37:04,570
all: ♪ Happy birthday to you
806
00:37:04,700 --> 00:37:07,094
- You have to make
a very special wish.
807
00:37:07,225 --> 00:37:10,140
[applause]
808
00:37:10,271 --> 00:37:13,970
- I went to his birthday
party in 1986.
809
00:37:14,101 --> 00:37:15,885
- People came
to pay their respects.
810
00:37:16,016 --> 00:37:17,539
Norman Mailer,
811
00:37:17,670 --> 00:37:20,499
Helen Gurley Brown,
Lee Iacocca.
812
00:37:20,629 --> 00:37:23,110
Also present,
Cohn's constant companion
813
00:37:23,241 --> 00:37:24,677
Peter Fraser.
814
00:37:24,807 --> 00:37:26,505
- And Trump walked in.
815
00:37:26,635 --> 00:37:28,550
Trump toasted him.
816
00:37:28,681 --> 00:37:30,770
Everybody said
how wonderful Roy was.
817
00:37:30,900 --> 00:37:32,293
Roy made this whole thing
about, you know,
818
00:37:32,424 --> 00:37:33,990
we'll see you next year.
819
00:37:34,121 --> 00:37:36,036
We're gonna have more
to celebrate next year.
820
00:37:36,166 --> 00:37:39,648
There was a sense that there
was not gonna be a next year.
821
00:37:39,779 --> 00:37:42,869
[dramatic music]
822
00:37:42,999 --> 00:37:45,828
- When Roy was sick, that's
when they went after him.
823
00:37:45,959 --> 00:37:48,353
They don't go after him
when he was healthy.
824
00:37:48,483 --> 00:37:51,225
It just shows you
how vicious the world is.
825
00:37:51,356 --> 00:37:52,879
- Your license to practice law,
826
00:37:53,009 --> 00:37:55,316
there's been an effort made
to take it away from you,
827
00:37:55,447 --> 00:37:58,450
uh, on the grounds
that you committed fraud.
828
00:37:58,580 --> 00:38:01,191
- The establishment bar
hates my guts,
829
00:38:01,322 --> 00:38:05,239
because I'm unconventional,
I'm an iconoclast.
830
00:38:05,370 --> 00:38:07,328
I call things
the way I see them.
831
00:38:07,459 --> 00:38:11,332
The charges are
total, flat nonsense.
832
00:38:11,463 --> 00:38:13,247
- Did you see him
when he was really sick?
833
00:38:13,378 --> 00:38:14,944
- I never really did.
834
00:38:15,075 --> 00:38:17,686
And he didn't want
people to see him.
835
00:38:17,817 --> 00:38:21,908
Uh, I never really
saw him when he was sick.
836
00:38:22,038 --> 00:38:24,040
[somber music]
837
00:38:24,171 --> 00:38:27,217
- During that time, when
Cohn was nearing his death,
838
00:38:27,348 --> 00:38:30,046
Trump pulled away completely,
839
00:38:30,177 --> 00:38:32,745
cut off connections,
didn't talk to him,
840
00:38:32,875 --> 00:38:34,355
didn't visit with him.
841
00:38:34,486 --> 00:38:37,053
- Roy Cohn was
too ill to deliver for him.
842
00:38:37,184 --> 00:38:41,493
And he's--
Donald's a transactional guy.
843
00:38:41,623 --> 00:38:44,234
- There's a long pattern
in Donald Trump's life
844
00:38:44,365 --> 00:38:49,065
of essentially washing
people who are not successful
845
00:38:49,196 --> 00:38:50,589
out of his life.
846
00:38:50,719 --> 00:38:52,242
What Trump will often do
847
00:38:52,373 --> 00:38:54,332
is say, "Well, I never
really knew that person."
848
00:38:54,462 --> 00:38:55,594
♪
849
00:38:55,724 --> 00:38:57,117
- What did you see in Roy
850
00:38:57,247 --> 00:38:59,032
that his critics didn't see?
851
00:38:59,162 --> 00:39:00,903
- Well, Roy was
one of my lawyers.
852
00:39:01,034 --> 00:39:04,820
He wasn't my law--
he was one of my lawyers.
853
00:39:04,951 --> 00:39:06,953
♪
854
00:39:07,083 --> 00:39:08,998
- What have these last
few months been like for you?
855
00:39:09,129 --> 00:39:11,000
- I think
the most unusual experience
856
00:39:11,131 --> 00:39:12,654
that a human being
can endure, Mike,
857
00:39:12,785 --> 00:39:14,787
it's been a living death.
858
00:39:14,917 --> 00:39:16,702
I lived my funeral.
859
00:39:16,832 --> 00:39:19,444
I saw who was at my funeral,
who wasn't at my funeral.
860
00:39:19,574 --> 00:39:22,751
- Roy Cohn, uh, died
861
00:39:22,882 --> 00:39:25,058
feeling very bitter
towards Donald Trump.
862
00:39:25,188 --> 00:39:27,756
♪
863
00:39:27,887 --> 00:39:30,280
- Trump did show up
to the funeral.
864
00:39:30,411 --> 00:39:32,935
But he stood in the back,
never took a seat,
865
00:39:33,066 --> 00:39:35,808
never said anything,
and then left early.
866
00:39:35,938 --> 00:39:37,462
- You feel like that Roy--
- Well, it's--
867
00:39:37,592 --> 00:39:39,159
- You stuck by Roy Cohn--
- I do...
868
00:39:39,289 --> 00:39:41,422
- And that's--you showed
your stripes by doing that.
869
00:39:41,553 --> 00:39:42,771
- Well, I don't think
I showed my stripes.
870
00:39:42,902 --> 00:39:44,904
I think--you see,
I'm so loyal to people.
871
00:39:45,034 --> 00:39:46,514
And maybe I'm loyal to a fault.
872
00:39:46,645 --> 00:39:48,255
But I'm so loyal to people
that when somebody's
873
00:39:48,386 --> 00:39:49,996
slightly disloyal to me,
I look upon it
874
00:39:50,126 --> 00:39:52,259
as a great act of horror.
875
00:39:52,390 --> 00:39:53,303
♪
876
00:39:53,434 --> 00:39:55,131
- After Roy died,
877
00:39:55,262 --> 00:39:58,526
the IRS seized almost any--
everything he had.
878
00:39:58,657 --> 00:40:01,747
But the one thing that
his companion Peter Fraser gt
879
00:40:01,877 --> 00:40:05,446
was a box that Trump
had given Roy toward the end
880
00:40:05,577 --> 00:40:08,014
as a gift for
all his years of service.
881
00:40:08,144 --> 00:40:12,279
And it was a pair
of diamond-studded cuff links.
882
00:40:12,410 --> 00:40:14,673
And Peter went to
get these cuff links appraise.
883
00:40:14,803 --> 00:40:17,371
And the appraiser said,
"These are total fakes.
884
00:40:17,502 --> 00:40:19,504
They're worth nothing."
885
00:40:19,634 --> 00:40:22,071
So that was Donald Trump's
parting gift to Roy.
886
00:40:22,202 --> 00:40:24,291
Nothing.
887
00:40:24,422 --> 00:40:29,905
♪
888
00:40:30,036 --> 00:40:32,255
[stirring music]
889
00:40:32,386 --> 00:40:34,649
- It's almost hard to imagine
890
00:40:34,780 --> 00:40:38,348
someone being as voracious
as Donald Trump was
891
00:40:38,479 --> 00:40:40,394
in the 1980s.
892
00:40:40,525 --> 00:40:44,746
He went from a success
at the Grand Hyatt,
893
00:40:44,877 --> 00:40:47,836
an even bigger success
with Trump Tower,
894
00:40:47,967 --> 00:40:51,013
writing a book,
"The Art of the Deal"...
895
00:40:51,144 --> 00:40:52,188
- Good luck, everybody!
[indistinct chatter]
896
00:40:52,319 --> 00:40:54,234
- And after all that,
897
00:40:54,364 --> 00:40:57,367
he was going to embark
on his riskiest gamble yet.
898
00:40:57,498 --> 00:41:00,327
[fireworks popping]
899
00:41:00,458 --> 00:41:01,589
[tape rewinds]
[pleasant music]
900
00:41:01,720 --> 00:41:03,417
- Not so many years ago,
901
00:41:03,548 --> 00:41:05,245
this eastern seashore city
902
00:41:05,375 --> 00:41:07,247
with its spectacular skyline
903
00:41:07,377 --> 00:41:09,902
was an obscure
little fishing village.
904
00:41:10,032 --> 00:41:12,426
Today, Atlantic City
stands preeminent
905
00:41:12,557 --> 00:41:14,646
among the great resorts
of the world.
906
00:41:14,776 --> 00:41:16,256
- In the early days,
Atlantic City
907
00:41:16,386 --> 00:41:18,824
was the queen of resorts.
908
00:41:18,954 --> 00:41:23,132
My parents used to take me
there for the whole summer.
909
00:41:23,263 --> 00:41:25,091
During the day,
people would go to the beach.
910
00:41:25,221 --> 00:41:29,312
And at night, people would
dress in jackets and ties
911
00:41:29,443 --> 00:41:31,532
and they'd sit on
their rolling chairs,
912
00:41:31,663 --> 00:41:36,319
and it was a wonderful
kind of display.
913
00:41:36,450 --> 00:41:38,408
[somber music]
914
00:41:38,539 --> 00:41:41,194
But things started
to really go downhill
915
00:41:41,324 --> 00:41:43,022
in the '70s.
916
00:41:43,152 --> 00:41:45,154
- People weren't coming there.
917
00:41:45,285 --> 00:41:47,548
There was a lot of
dilapidated housing.
918
00:41:47,679 --> 00:41:50,464
It just didn't have the allure
that it had
919
00:41:50,595 --> 00:41:53,162
in previous decades.
920
00:41:53,293 --> 00:41:55,513
There was a lot of debate
in New Jersey about
921
00:41:55,643 --> 00:41:57,079
what are we gonna do?
922
00:41:57,210 --> 00:41:59,517
It Atlantic City
gonna fall into the sea?
923
00:41:59,647 --> 00:42:02,302
And they ultimately came up
with an idea
924
00:42:02,432 --> 00:42:05,566
of legalizing gambling.
925
00:42:05,697 --> 00:42:06,654
[upbeat music]
926
00:42:06,785 --> 00:42:08,569
- This casino is now open.
927
00:42:08,700 --> 00:42:10,658
- What was once
a quiet seaside resort
928
00:42:10,789 --> 00:42:12,486
isn't that way anymore.
929
00:42:12,617 --> 00:42:14,880
- Atlantic City has turned
from a dying town
930
00:42:15,010 --> 00:42:17,230
into a lively gambling mecca.
931
00:42:17,360 --> 00:42:19,145
- Atlantic City's
gambling casinos
932
00:42:19,275 --> 00:42:21,495
are raking in the money
at a near record clip.
933
00:42:21,626 --> 00:42:24,324
- Various casino
companies and developers
934
00:42:24,454 --> 00:42:26,935
started putting up
casinos along the boardwalk.
935
00:42:27,066 --> 00:42:29,242
- I'm ready to lose it
in two minutes.
936
00:42:29,372 --> 00:42:31,374
I always lose, but I love it.
937
00:42:31,505 --> 00:42:34,203
- I said, "Donald, all
your interests and connections
938
00:42:34,334 --> 00:42:35,988
"and money are in New York.
939
00:42:36,118 --> 00:42:37,642
Why are you going
to Atlantic City?"
940
00:42:37,772 --> 00:42:39,513
And he gave me
the exact same answer
941
00:42:39,644 --> 00:42:41,863
that Willie Sutton,
the great bank robber,
942
00:42:41,994 --> 00:42:43,822
answered when they asked him
why did he rob banks.
943
00:42:43,952 --> 00:42:45,606
And he said,
"That's where the money is."
944
00:42:48,130 --> 00:42:49,523
- Good morning,
ladies and gentlemen.
945
00:42:49,654 --> 00:42:52,657
I'd like to welcome you
to Atlantic City.
946
00:42:52,787 --> 00:42:54,354
- The New Jersey voters
have approved
947
00:42:54,484 --> 00:42:56,878
legalized gambling
for Atlantic City.
948
00:42:57,009 --> 00:42:58,706
Very few people doubt
that open gambling
949
00:42:58,837 --> 00:43:00,839
will bring a lot of money
to Atlantic City.
950
00:43:00,969 --> 00:43:04,146
The real question is,
who will get most of it?
951
00:43:04,277 --> 00:43:06,671
- In the 1980s,
in Atlantic City,
952
00:43:06,801 --> 00:43:11,414
Trump in quick succession
opens two casinos there:
953
00:43:11,545 --> 00:43:14,026
Trump Plaza and Trump Castle.
954
00:43:14,156 --> 00:43:16,028
- Okay, now is the time, folks!
Go ahead.
955
00:43:16,158 --> 00:43:17,246
- Yay!
- Yeah!
956
00:43:17,377 --> 00:43:18,770
- Beautiful.
[applause]
957
00:43:18,900 --> 00:43:21,163
- Since he's never run a casino
958
00:43:21,294 --> 00:43:23,688
and didn't know anything
about running a casino,
959
00:43:23,818 --> 00:43:25,515
he needed an operator.
960
00:43:25,646 --> 00:43:26,778
- Can you give us your full name
and your title again?
961
00:43:26,908 --> 00:43:28,693
- Stephen Hyde--
Stephen Frank Hyde,
962
00:43:28,823 --> 00:43:30,216
if you want the full name--
Stephen Hyde,
963
00:43:30,346 --> 00:43:31,913
President, Trump Plaza.
964
00:43:32,044 --> 00:43:34,089
- Donald hired Steve Hyde
965
00:43:34,220 --> 00:43:36,875
to come in and be
his guy at the Trump Plaza.
966
00:43:37,005 --> 00:43:41,706
And Donald's wife, Ivana,
was running the Castle.
967
00:43:41,836 --> 00:43:43,969
- She helicopters down
to Atlantic City
968
00:43:44,099 --> 00:43:45,535
four days a week from New York
969
00:43:45,666 --> 00:43:47,625
to oversee Trump Castle.
970
00:43:47,755 --> 00:43:49,627
Recently, Ivana Trump has been
971
00:43:49,757 --> 00:43:52,630
coming in neck-and-neck
and ahead of the competition.
972
00:43:52,760 --> 00:43:54,370
- It was very clear back then
973
00:43:54,501 --> 00:43:57,765
that there was an unbelievable
level of trust
974
00:43:57,896 --> 00:43:59,462
that he had in Ivana.
975
00:43:59,593 --> 00:44:02,857
She was a meticulous operator.
976
00:44:02,988 --> 00:44:04,598
- You just don't want to
be there and do the job;
977
00:44:04,729 --> 00:44:06,165
you want to be the best at it.
978
00:44:06,295 --> 00:44:09,168
- She kept the facility
beautiful
979
00:44:09,298 --> 00:44:13,955
in the style that
Donald wanted.
980
00:44:14,086 --> 00:44:16,828
Donald was not involved
in the day-to-day operation.
981
00:44:16,958 --> 00:44:20,092
He would make his weekly trips,
982
00:44:20,222 --> 00:44:23,399
and he would bounce from
Steve's office to my office.
983
00:44:23,530 --> 00:44:25,184
The biggest challenge was
984
00:44:25,314 --> 00:44:28,535
managing his personality
and his mood swings.
985
00:44:28,666 --> 00:44:32,931
You could get him for
5 to 10 minutes of his attention
986
00:44:33,061 --> 00:44:34,323
and then that was it.
987
00:44:34,454 --> 00:44:37,370
But he did have a flamboyance
988
00:44:37,500 --> 00:44:39,589
that I thought was very
well-suited
989
00:44:39,720 --> 00:44:42,114
to the gambling industry.
990
00:44:42,244 --> 00:44:43,811
- A fight of this magnitude
991
00:44:43,942 --> 00:44:45,465
could only be
brought together by
992
00:44:45,595 --> 00:44:46,988
guys like Donald Trump,
993
00:44:47,119 --> 00:44:48,860
who has the daring,
the flair,
994
00:44:48,990 --> 00:44:50,949
the look, and the cash
to make it happen.
995
00:44:51,079 --> 00:44:52,167
[scattered laughter]
996
00:44:52,298 --> 00:44:53,473
- Thank you, Mr. Trump.
997
00:44:53,603 --> 00:44:55,867
- Yeah.
Thank you, Mr. Trump.
998
00:44:55,997 --> 00:44:56,955
[dramatic music]
999
00:44:57,085 --> 00:44:58,434
- Tyson versus Spinks.
1000
00:44:58,565 --> 00:45:00,610
Once and for all.
1001
00:45:00,741 --> 00:45:04,136
- We were competing for
the first time with Las Vegas.
1002
00:45:04,266 --> 00:45:06,878
They dominated boxing.
1003
00:45:07,008 --> 00:45:09,315
They got all the publicity
for boxing.
1004
00:45:09,445 --> 00:45:11,186
That's the kind of attention
and the glamour
1005
00:45:11,317 --> 00:45:12,666
that Donald Trump wanted.
1006
00:45:12,797 --> 00:45:15,234
- Here we are!
Trump.
1007
00:45:15,364 --> 00:45:18,367
- Well, the atmosphere
the night of the big fight
1008
00:45:18,498 --> 00:45:19,629
was electric,
1009
00:45:19,760 --> 00:45:20,805
because now the celebrities
1010
00:45:20,935 --> 00:45:22,328
are coming in.
1011
00:45:22,458 --> 00:45:23,895
- I'm a very big fight fan,
1012
00:45:24,025 --> 00:45:26,027
especially if
they're not hitting me.
1013
00:45:26,158 --> 00:45:29,509
- Every news station from
all over the country's there.
1014
00:45:29,639 --> 00:45:32,991
Donald Trump's reputation
and his reach, so to speak,
1015
00:45:33,121 --> 00:45:35,994
went up dramatically
as a result of the fights,
1016
00:45:36,124 --> 00:45:39,258
because that would have never
come to Atlantic City
1017
00:45:39,388 --> 00:45:42,043
came to Atlantic City
for these events.
1018
00:45:42,174 --> 00:45:43,392
- Looks like
an exciting evening.
1019
00:45:43,523 --> 00:45:45,003
- Oh, it--it is going
to be a biggie.
1020
00:45:45,133 --> 00:45:47,222
[crowd cheering]
1021
00:45:47,353 --> 00:45:49,094
[dramatic music]
1022
00:45:49,224 --> 00:45:50,660
- And we're just about
ready to go.
1023
00:45:50,791 --> 00:45:51,836
The opening bell...
1024
00:45:51,966 --> 00:45:53,489
♪
1025
00:45:53,620 --> 00:45:55,622
Tyson attacks immediately.
1026
00:45:55,753 --> 00:45:58,233
- At the moment this fight
happens in the late 1980s,
1027
00:45:58,364 --> 00:46:01,671
you are probably at peak Trump.
1028
00:46:01,802 --> 00:46:05,588
His dream of Hollywood-style
celebrity's been fulfilled.
1029
00:46:05,719 --> 00:46:07,503
- The right hand lands
on the head of Mike Spinks.
1030
00:46:07,634 --> 00:46:09,854
- He's being celebrated
on magazine covers
1031
00:46:09,984 --> 00:46:12,944
as the new wunderkind of
1032
00:46:13,074 --> 00:46:15,555
American business
and American real estate...
1033
00:46:15,685 --> 00:46:17,470
- Vicious shots to the body.
1034
00:46:17,600 --> 00:46:19,515
- A deal maker...
1035
00:46:19,646 --> 00:46:21,866
- He leads with the right hand.
Down he goes!
1036
00:46:21,996 --> 00:46:23,258
I don't think
he'll get up from this.
1037
00:46:23,389 --> 00:46:25,652
♪
1038
00:46:25,783 --> 00:46:28,698
- Donald Trump in
the late 1980s was it.
1039
00:46:28,829 --> 00:46:30,962
- It's seven and eight.
It's all over!
1040
00:46:31,092 --> 00:46:32,920
- He believed
that he was infallible.
1041
00:46:33,051 --> 00:46:35,140
- A dramatic first-round
knockout!
1042
00:46:35,270 --> 00:46:38,360
- He believed that
he could do magic with money.
1043
00:46:38,491 --> 00:46:39,884
And he believed that
nothing could get in his way.
1044
00:46:40,014 --> 00:46:41,711
- Unbelievable fight!
1045
00:46:41,842 --> 00:46:43,539
- But there's always this
1046
00:46:43,670 --> 00:46:45,890
missing piece of gratificatin
with him.
1047
00:46:46,020 --> 00:46:48,066
And I think it's because
he needs the next fix.
1048
00:46:51,504 --> 00:46:52,722
[waves crashing]
1049
00:46:52,853 --> 00:46:54,463
[crowd applauding]
1050
00:46:54,594 --> 00:46:55,987
- Bye-bye!
1051
00:46:56,117 --> 00:46:58,554
- Good luck.
- Oh, thank you.
1052
00:46:58,685 --> 00:47:00,078
- Ivana, how do you feel?
1053
00:47:00,208 --> 00:47:01,557
- I feel--I feel great.
1054
00:47:01,688 --> 00:47:03,516
- Ivana is regarded as
1055
00:47:03,646 --> 00:47:06,736
a very successful hotelier
in Atlantic City.
1056
00:47:06,867 --> 00:47:09,870
The Trump Castle becomes one of
the best hotels down there.
1057
00:47:10,001 --> 00:47:11,089
- How do you feel about
all these people
1058
00:47:11,219 --> 00:47:12,264
here to say goodbye to you?
1059
00:47:12,394 --> 00:47:13,265
- I think it's fantastic.
1060
00:47:13,395 --> 00:47:14,744
I think it's a great honor
1061
00:47:14,875 --> 00:47:17,660
to me and to
whole Trump Organization.
1062
00:47:17,791 --> 00:47:21,055
- The greatest toy
that I could give Ivana
1063
00:47:21,186 --> 00:47:23,405
would be to put her
at the Plaza Hotel.
1064
00:47:23,536 --> 00:47:26,539
- Donald moved Ivana
1065
00:47:26,669 --> 00:47:28,323
from this job that
she was doing very well
1066
00:47:28,454 --> 00:47:29,890
at the Trump Castle,
1067
00:47:30,021 --> 00:47:32,458
and put her in charge of
the Plaza Hotel,
1068
00:47:32,588 --> 00:47:35,504
which would base her
in New York.
1069
00:47:35,635 --> 00:47:37,028
♪
1070
00:47:37,158 --> 00:47:39,334
He needed the coast
to be clear.
1071
00:47:39,465 --> 00:47:42,947
♪
1072
00:47:43,077 --> 00:47:44,557
- You know, I had been told that
1073
00:47:44,687 --> 00:47:47,125
Donald was cheating on Ivana.
1074
00:47:47,255 --> 00:47:48,953
And never even entered my mind
1075
00:47:49,083 --> 00:47:51,346
that that could
possibly be true.
1076
00:47:51,477 --> 00:47:54,349
And she was
so trusting of Donald
1077
00:47:54,480 --> 00:47:56,308
and so into the fact that
1078
00:47:56,438 --> 00:47:58,136
they were working together
1079
00:47:58,266 --> 00:48:01,008
that I don't think
it ever crossed her mind.
1080
00:48:01,139 --> 00:48:03,924
- No matter what you get,
there's never enough.
1081
00:48:04,055 --> 00:48:06,971
And I think that that is
the epitome of Donald,
1082
00:48:07,101 --> 00:48:08,711
that he can never be satisfied.
1083
00:48:08,842 --> 00:48:09,887
♪
1084
00:48:10,017 --> 00:48:11,105
- Oh, there's no question
1085
00:48:11,236 --> 00:48:13,499
that it was a secret,
1086
00:48:13,629 --> 00:48:17,024
but it was not a very well-kept
secret in Atlantic City.
1087
00:48:17,155 --> 00:48:19,244
I mean, let's face it,
when the room service guy
1088
00:48:19,374 --> 00:48:21,376
goes up to deliver
dinner for two,
1089
00:48:21,507 --> 00:48:22,856
[laughs] you know--
1090
00:48:22,987 --> 00:48:24,727
Donald Trump is
one of the people,
1091
00:48:24,858 --> 00:48:26,991
you know, the secret
doesn't last long.
1092
00:48:27,121 --> 00:48:28,818
[chuckles]
1093
00:48:28,949 --> 00:48:30,820
No guy likes talking
about affairs, by the way.
1094
00:48:30,951 --> 00:48:33,606
- [laughs]
- I just want to tell you.
1095
00:48:33,736 --> 00:48:34,694
♪
1096
00:48:34,824 --> 00:48:36,087
- I really liked Marla.
1097
00:48:36,217 --> 00:48:38,567
She was absolutely charming.
1098
00:48:38,698 --> 00:48:40,526
Very low-key,
sweet, little Georgia girl.
1099
00:48:40,656 --> 00:48:42,310
I found her delightful.
1100
00:48:42,441 --> 00:48:44,660
- And she also
was very, very beautiful,
1101
00:48:44,791 --> 00:48:46,575
and she was a lot younger
than Ivana.
1102
00:48:46,706 --> 00:48:49,665
- She was engaging,
and she smiled.
1103
00:48:49,796 --> 00:48:51,972
It was very rare
to see a smile from Ivana.
1104
00:48:52,103 --> 00:48:53,800
Ivana's a tough woman.
1105
00:48:53,931 --> 00:48:56,585
And there was nothing tough
about Marla Maples.
1106
00:48:56,716 --> 00:48:58,413
- Trump was strictly business.
1107
00:48:58,544 --> 00:49:00,633
The only time
we had any personal stuff
1108
00:49:00,763 --> 00:49:03,157
was when he was, uh,
going out with Marla Maples
1109
00:49:03,288 --> 00:49:05,159
and slipping around--
he was still married to Ivana.
1110
00:49:05,290 --> 00:49:06,987
And I was,
as they say, the beard.
1111
00:49:07,118 --> 00:49:08,206
♪
1112
00:49:08,336 --> 00:49:10,338
- We called it "the beard"
1113
00:49:10,469 --> 00:49:12,123
so that it would look like
this individual
1114
00:49:12,253 --> 00:49:14,081
was with Marla, and not Donald.
1115
00:49:14,212 --> 00:49:16,518
Donald used
a lot of us that way.
1116
00:49:16,649 --> 00:49:19,391
We wound up comping
all of her services
1117
00:49:19,521 --> 00:49:22,698
and stays and food,
whatever it might be.
1118
00:49:22,829 --> 00:49:25,832
- He asked me if I would mind
taking out Marla Maples,
1119
00:49:25,963 --> 00:49:27,660
and so he sent a limo.
1120
00:49:27,790 --> 00:49:31,055
I picked her up
and we went to dinner.
1121
00:49:31,185 --> 00:49:32,708
I loved the fact that when
we went into the restaurant,
1122
00:49:32,839 --> 00:49:34,884
all the women looked at her like
they would want her
1123
00:49:35,015 --> 00:49:37,539
chopped up into little pieces
and all the pieces burned.
1124
00:49:37,670 --> 00:49:39,193
And we had a great dinner.
1125
00:49:39,324 --> 00:49:41,021
We went out to the limo,
drove a couple of blocks.
1126
00:49:41,152 --> 00:49:42,849
Another limo pulled up
and she got out,
1127
00:49:42,980 --> 00:49:44,590
and there was Donald
in the other car.
1128
00:49:44,720 --> 00:49:48,028
I went home to my wife.
1129
00:49:48,159 --> 00:49:50,683
- I did one of the first
interviews with Marla.
1130
00:49:50,813 --> 00:49:53,033
She said, "The thing is,
1131
00:49:53,164 --> 00:49:55,122
"you can't help
who you fall in love with,
1132
00:49:55,253 --> 00:49:57,472
and I really fell in love
with this man."
1133
00:49:57,603 --> 00:50:01,955
She was a very, very honest,
lovely woman
1134
00:50:02,086 --> 00:50:05,567
who didn't realize
what she was getting into.
1135
00:50:05,698 --> 00:50:08,353
[music broods]
1136
00:50:08,483 --> 00:50:10,790
[pensive music]
1137
00:50:10,920 --> 00:50:12,748
- Donald Trump believed
1138
00:50:12,879 --> 00:50:16,187
that if he had three casinos
in Atlantic City,
1139
00:50:16,317 --> 00:50:17,971
he would be able to drive
1140
00:50:18,102 --> 00:50:19,755
some of these other casinos
out of business
1141
00:50:19,886 --> 00:50:22,976
and dominate the city.
1142
00:50:23,107 --> 00:50:28,112
- So he gets his hands on
a third casino hotel.
1143
00:50:28,242 --> 00:50:31,811
- The Taj Mahal
was a half-finished casino
1144
00:50:31,941 --> 00:50:33,247
in Atlantic City,
1145
00:50:33,378 --> 00:50:35,728
with three acres of
gaming space--
1146
00:50:35,858 --> 00:50:37,034
basically the equivalent of
1147
00:50:37,164 --> 00:50:39,601
two other casinos
in town combined.
1148
00:50:39,732 --> 00:50:42,387
- Halfway through constructin
they ran out of financing,
1149
00:50:42,517 --> 00:50:44,867
and the property went dormant.
1150
00:50:44,998 --> 00:50:47,827
- It was not only the biggest
but the most expensive
1151
00:50:47,957 --> 00:50:50,438
casino in the world.
1152
00:50:50,569 --> 00:50:52,527
- There was an extraordinary
amount of work
1153
00:50:52,658 --> 00:50:54,138
that needed to be done.
1154
00:50:54,268 --> 00:50:56,923
So it wasn't a $100 million fix.
1155
00:50:57,054 --> 00:50:58,403
This was gonna be
1156
00:50:58,533 --> 00:51:01,841
a billion-dollar project
for Donald Trump.
1157
00:51:01,971 --> 00:51:04,191
- In November 1988,
Donald Trump
1158
00:51:04,322 --> 00:51:06,150
purchased the Taj Mahal project.
1159
00:51:06,280 --> 00:51:09,109
And here we are today,
requesting that this commission
1160
00:51:09,240 --> 00:51:12,373
issue a casino license
and operations certificate
1161
00:51:12,504 --> 00:51:14,201
to Donald J. Trump's Taj Mahal.
1162
00:51:14,332 --> 00:51:17,291
- When Donald bought
the Taj Mahal,
1163
00:51:17,422 --> 00:51:20,425
the Casino Control Commission
was really interested
1164
00:51:20,555 --> 00:51:22,209
in where the money
was coming from
1165
00:51:22,340 --> 00:51:24,298
and whether he had the money
1166
00:51:24,429 --> 00:51:27,127
to really make this
a viable operation.
1167
00:51:27,258 --> 00:51:29,390
- And so Donald said,
1168
00:51:29,521 --> 00:51:34,178
the bankers were waiting in line
to write him a check.
1169
00:51:34,308 --> 00:51:35,831
He actually believed that.
1170
00:51:35,962 --> 00:51:37,833
- All those in favor?
1171
00:51:37,964 --> 00:51:40,532
Motion carries unanimously.
1172
00:51:40,662 --> 00:51:43,839
- The investigators
had a lot of concerns.
1173
00:51:43,970 --> 00:51:45,711
But they did approve it.
1174
00:51:45,841 --> 00:51:48,017
- Trump was a major employer
in New Jersey.
1175
00:51:48,148 --> 00:51:50,890
So
the Casino Control Commission
1176
00:51:51,020 --> 00:51:54,285
have a powerful incentive
not to create problems
1177
00:51:54,415 --> 00:51:56,243
for a major local employer,
1178
00:51:56,374 --> 00:51:58,245
no matter what damage
might be caused
1179
00:51:58,376 --> 00:51:59,942
by their financial practices.
1180
00:52:00,073 --> 00:52:01,596
- It's gonna be
tremendously successful.
1181
00:52:01,727 --> 00:52:02,945
It's gonna be great
for Atlantic City.
1182
00:52:03,076 --> 00:52:04,556
It's gonna be great
for everybody.
1183
00:52:04,686 --> 00:52:05,687
Good luck, everybody.
Thank you for being here.
1184
00:52:05,818 --> 00:52:08,386
[indistinct talking]
1185
00:52:08,516 --> 00:52:11,606
- By the end of the '80s,
we're starting into a recession.
1186
00:52:11,737 --> 00:52:13,304
- For the third straight day,
1187
00:52:13,434 --> 00:52:15,436
a selling avalanche
hit Wall Street.
1188
00:52:15,567 --> 00:52:18,744
- The Dow Jones index had
gone down by over 100 points.
1189
00:52:18,874 --> 00:52:22,356
- The banks weren't waiting in
line to lend him the money.
1190
00:52:22,487 --> 00:52:25,054
He had to go out
1191
00:52:25,185 --> 00:52:29,407
and use junk bond financing
to do the deal.
1192
00:52:29,537 --> 00:52:32,410
The difference between
the junk bond financing
1193
00:52:32,540 --> 00:52:34,934
and a conventional loan
1194
00:52:35,064 --> 00:52:38,503
is really the cost
of borrowing the money.
1195
00:52:38,633 --> 00:52:42,898
He had to go out
and borrow $675 million
1196
00:52:43,029 --> 00:52:46,598
at an interest rate of 14%,
1197
00:52:46,728 --> 00:52:49,688
which was just unheard of.
1198
00:52:49,818 --> 00:52:52,865
- So from the very first
moment that you open,
1199
00:52:52,995 --> 00:52:55,215
to make ends meet
for this casino,
1200
00:52:55,346 --> 00:53:00,525
he had to reap $1.3 million
a day--
1201
00:53:00,655 --> 00:53:03,136
a day!
1202
00:53:03,267 --> 00:53:05,356
- This was something no other
casino in Atlantic City
1203
00:53:05,486 --> 00:53:07,053
or Las Vegas had ever done.
1204
00:53:07,184 --> 00:53:09,098
♪
1205
00:53:10,665 --> 00:53:14,626
- Once the Taj Mahal
became Donald Trump's property,
1206
00:53:14,756 --> 00:53:17,542
Steve Hyde was now in charge
of all three properties.
1207
00:53:17,672 --> 00:53:21,502
And I became the president
at Trump Plaza.
1208
00:53:21,633 --> 00:53:26,594
Donald had a great deal of
respect for Steve's knowledg.
1209
00:53:26,725 --> 00:53:29,118
And I think Donald
also realized that
1210
00:53:29,249 --> 00:53:32,470
Steve wasn't gonna be
competition for headlines.
1211
00:53:32,600 --> 00:53:33,906
He was kind of shy.
1212
00:53:34,036 --> 00:53:36,082
So it was a very good fit.
1213
00:53:36,213 --> 00:53:38,954
And it appeared that
1214
00:53:39,085 --> 00:53:42,654
Donald actually
listened to Steve Hyde.
1215
00:53:42,784 --> 00:53:44,917
[rotors whirring]
1216
00:53:45,047 --> 00:53:47,354
- 10-foot high letters
are put in place
1217
00:53:47,485 --> 00:53:50,009
42 stories above
what will be
1218
00:53:50,139 --> 00:53:52,664
the world's largest casino.
1219
00:53:52,794 --> 00:53:54,622
The $1 billion Taj Mahal
1220
00:53:54,753 --> 00:53:57,146
is expected
to open next spring.
1221
00:53:57,277 --> 00:53:59,018
- The Taj was
a massive project,
1222
00:53:59,148 --> 00:54:01,063
and Trump needed to get it
open as quickly as possible,
1223
00:54:01,194 --> 00:54:04,197
because the longer it took hm
to develop the Taj,
1224
00:54:04,328 --> 00:54:07,505
the less able he was to
pay down the debt he incurred
1225
00:54:07,635 --> 00:54:08,897
to build it in the first place.
1226
00:54:09,028 --> 00:54:10,943
♪
1227
00:54:11,073 --> 00:54:13,946
[suspenseful music]
1228
00:54:14,076 --> 00:54:16,296
- Well, on
October 10th, 1989
1229
00:54:16,427 --> 00:54:18,951
we had a press conference
scheduled in New York City
1230
00:54:19,081 --> 00:54:20,822
for Vinny Pazienza,
1231
00:54:20,953 --> 00:54:23,695
Héctor "Macho" Camacho
boxing match.
1232
00:54:23,825 --> 00:54:26,785
It was scheduled on a date
that I was on vacation.
1233
00:54:26,915 --> 00:54:30,658
Steve and Mark
were still gonna go up.
1234
00:54:30,789 --> 00:54:34,532
I had asked Jon Benanav
to go up in my place.
1235
00:54:34,662 --> 00:54:36,185
- When you work for Trump,
1236
00:54:36,316 --> 00:54:37,578
you know you're working
for the best.
1237
00:54:37,709 --> 00:54:39,580
'Cause I think
it's human nature,
1238
00:54:39,711 --> 00:54:41,234
when people say,
"Where do you work?"
1239
00:54:41,365 --> 00:54:43,149
when you're working for
the number-one place,
1240
00:54:43,280 --> 00:54:44,977
there's a lot of pride
behind that.
1241
00:54:45,107 --> 00:54:47,980
♪
1242
00:54:48,110 --> 00:54:49,634
[music broods]
1243
00:54:49,764 --> 00:54:52,637
[sirens wailing]
1244
00:54:52,767 --> 00:54:55,030
[helicopter rotors whirring]
1245
00:54:55,161 --> 00:54:58,382
- I woke up that morning.
My wife came in.
1246
00:54:58,512 --> 00:55:01,341
There was a look on her face
that I'd never seen
1247
00:55:01,472 --> 00:55:05,084
and she said,
"It's Steve, Mark, and Jon,
1248
00:55:05,214 --> 00:55:07,478
the helicopter they were on."
1249
00:55:07,608 --> 00:55:10,959
She told me that it had crashed,
and that they had died.
1250
00:55:11,090 --> 00:55:12,700
[inhales shakily]
1251
00:55:12,831 --> 00:55:14,354
[tender music]
1252
00:55:14,485 --> 00:55:15,703
[sighs]
1253
00:55:15,834 --> 00:55:18,837
[indistinct talking]
1254
00:55:18,967 --> 00:55:20,491
The day those three guys died
1255
00:55:20,621 --> 00:55:22,971
was the toughest day of my life.
1256
00:55:23,102 --> 00:55:27,672
I had never felt
a greater sense of loss.
1257
00:55:27,802 --> 00:55:28,977
♪
1258
00:55:29,108 --> 00:55:31,110
Uh.
1259
00:55:31,240 --> 00:55:34,069
You know, I guess
they call it "survivor's guilt."
1260
00:55:34,200 --> 00:55:36,115
I particularly felt it
with Jon,
1261
00:55:36,245 --> 00:55:40,511
'cause I had asked him to go.
1262
00:55:40,641 --> 00:55:44,210
Shortly after that,
I got a phone call from Donal.
1263
00:55:44,341 --> 00:55:47,648
We had this
disbelief conversation.
1264
00:55:47,779 --> 00:55:49,694
Can't believe this happened.
1265
00:55:49,824 --> 00:55:51,260
♪
1266
00:55:51,391 --> 00:55:54,612
It was shock.
1267
00:55:54,742 --> 00:55:56,744
At Steve Hyde's funeral,
1268
00:55:56,875 --> 00:56:01,270
he paused an extensive
amount of time
1269
00:56:01,401 --> 00:56:03,403
looking at Steve's picture,
1270
00:56:03,534 --> 00:56:05,753
and I do think he cried.
1271
00:56:05,884 --> 00:56:07,886
This impacted him.
1272
00:56:08,016 --> 00:56:12,934
He was deeply hurt
for the friendship,
1273
00:56:13,065 --> 00:56:15,633
but he was also deeply
concerned about the business.
1274
00:56:15,763 --> 00:56:17,286
♪
1275
00:56:17,417 --> 00:56:19,114
- The question now is
1276
00:56:19,245 --> 00:56:20,942
what will their
shocking deaths mean
1277
00:56:21,073 --> 00:56:22,944
to the big Taj project?
1278
00:56:23,075 --> 00:56:28,297
♪
1279
00:56:28,428 --> 00:56:29,864
- The three Trump executives
who died
1280
00:56:29,995 --> 00:56:31,649
were the pinnacle
of the casino industry,
1281
00:56:31,779 --> 00:56:33,999
and their loss is
being felt in Atlantic City.
1282
00:56:34,129 --> 00:56:38,046
- The void was clear
at the top of the organization.
1283
00:56:38,177 --> 00:56:40,222
And how we filled that void
1284
00:56:40,353 --> 00:56:42,355
was he brought
his brother Robert.
1285
00:56:42,486 --> 00:56:44,313
He was going to shepherd
1286
00:56:44,444 --> 00:56:46,228
the Taj Mahal
through its opening.
1287
00:56:46,359 --> 00:56:48,143
♪
1288
00:56:48,274 --> 00:56:49,971
- At one point I asked Robert
1289
00:56:50,102 --> 00:56:51,756
why it took him
so long to join.
1290
00:56:51,886 --> 00:56:53,888
He was in his 40s.
1291
00:56:54,019 --> 00:56:55,760
And he said, "Alan, if you had
a brother like Donald Trump,
1292
00:56:55,890 --> 00:56:57,370
would you be so anxious
to work with him?"
1293
00:56:57,501 --> 00:56:59,938
♪
1294
00:57:00,068 --> 00:57:02,419
- Donald Trump was facing
a very perilous moment.
1295
00:57:02,549 --> 00:57:04,551
He wasn't experienced
in running casinos.
1296
00:57:04,682 --> 00:57:06,945
And at the time he was having
an affair with Marla Maples.
1297
00:57:07,075 --> 00:57:09,121
[ambient music]
1298
00:57:09,251 --> 00:57:11,732
- There was a fear
from a business standpoint
1299
00:57:11,863 --> 00:57:15,780
that if and when
this affair was gonna blow u,
1300
00:57:15,910 --> 00:57:17,259
where would it blow?
1301
00:57:17,390 --> 00:57:19,305
I certainly didn't
want it to blow up
1302
00:57:19,436 --> 00:57:21,133
at a press conference
1303
00:57:21,263 --> 00:57:23,048
or any kind of public thing
that we were doing.
1304
00:57:23,178 --> 00:57:25,616
And quite frankly,
I said, thank God for Aspen.
1305
00:57:25,746 --> 00:57:28,357
♪
1306
00:57:28,488 --> 00:57:31,186
- It was the winter of 1989,
1307
00:57:31,317 --> 00:57:34,451
and the family went
down to Aspen as normal,
1308
00:57:34,581 --> 00:57:37,976
except he had arranged
for Marla to fly down
1309
00:57:38,106 --> 00:57:39,804
for the same exact week
that he would be there
1310
00:57:39,934 --> 00:57:41,545
with his children
and wife and in-laws.
1311
00:57:41,675 --> 00:57:44,199
- Splitting his time between
the two of them somehow,
1312
00:57:44,330 --> 00:57:46,767
but they're both in
the same small community.
1313
00:57:46,898 --> 00:57:48,029
♪
1314
00:57:48,160 --> 00:57:50,031
- There was one place
1315
00:57:50,162 --> 00:57:52,686
where everyone stopped
for lunch called Bonnie's.
1316
00:57:52,817 --> 00:57:56,951
- Marla, Ivana,
and the children are there.
1317
00:57:57,082 --> 00:57:58,736
- I was talking to this
girlfriend of mine
1318
00:57:58,866 --> 00:58:00,651
who was in Aspen.
1319
00:58:00,781 --> 00:58:02,174
She goes,
"Oh, my God, you're not
1320
00:58:02,304 --> 00:58:03,915
gonna believe
what's happening."
1321
00:58:04,045 --> 00:58:06,047
This woman has confronted Ivana
1322
00:58:06,178 --> 00:58:09,007
and pushed her and said,
"I want your husband."
1323
00:58:09,137 --> 00:58:10,487
And the two of them
are having a fight
1324
00:58:10,617 --> 00:58:13,533
and Ivana's crying.
1325
00:58:13,664 --> 00:58:15,187
- Ivana wanted to go
back to New York right away.
1326
00:58:15,317 --> 00:58:16,797
She didn't want to be there.
1327
00:58:16,928 --> 00:58:17,929
She didn't want to be there
with Marla.
1328
00:58:18,059 --> 00:58:19,844
She was embarrassed.
1329
00:58:19,974 --> 00:58:22,847
- Ivana was totally devoted
to their marriage,
1330
00:58:22,977 --> 00:58:25,284
to their business,
and to their life together.
1331
00:58:25,414 --> 00:58:28,069
So she was devastated.
1332
00:58:28,200 --> 00:58:30,724
- I was in the Plaza Hotel
at the time,
1333
00:58:30,855 --> 00:58:32,639
and I went to see Ivana.
1334
00:58:32,770 --> 00:58:34,902
And I didn't even
get out my sentence,
1335
00:58:35,033 --> 00:58:37,252
when she's--
she burst into tears.
1336
00:58:37,383 --> 00:58:38,993
I just--I was taken aback.
1337
00:58:39,124 --> 00:58:40,952
I--I felt terrible for her.
1338
00:58:41,082 --> 00:58:43,345
[traffic honks]
1339
00:58:43,476 --> 00:58:45,434
- They didn't separate
initially.
1340
00:58:45,565 --> 00:58:49,917
They still
went about business as usual.
1341
00:58:50,048 --> 00:58:51,745
- Trump had bigger
things to worry about.
1342
00:58:51,876 --> 00:58:55,183
The biggest casino
he was ever going to oversee
1343
00:58:55,314 --> 00:58:57,316
was about to open
in Atlantic City.
1344
00:58:57,446 --> 00:58:59,840
And it was so larded with debt
1345
00:58:59,971 --> 00:59:01,189
that it was uncertain
whether or not
1346
00:59:01,320 --> 00:59:02,539
that could be a success.
1347
00:59:02,669 --> 00:59:05,890
- In 1990,
as the date is coming,
1348
00:59:06,020 --> 00:59:08,066
"The Wall Street Journal"
wrote a report.
1349
00:59:08,196 --> 00:59:10,242
"What About the Taj Mahal?"
1350
00:59:10,372 --> 00:59:11,983
And in it, they quoted
1351
00:59:12,113 --> 00:59:16,465
a very well-known and respected
casino analyst
1352
00:59:16,596 --> 00:59:18,685
by the name of Marvin Roffman.
1353
00:59:18,816 --> 00:59:21,601
- My job was to go out
1354
00:59:21,732 --> 00:59:24,909
and evaluate situations
1355
00:59:25,039 --> 00:59:26,650
to see if they're
good investments
1356
00:59:26,780 --> 00:59:29,783
or risky investments.
1357
00:59:29,914 --> 00:59:32,873
I was quoted in the article
as saying that
1358
00:59:33,004 --> 00:59:36,268
the Taj would open
to record-breaking business
1359
00:59:36,398 --> 00:59:39,967
but when the cold came,
it wouldn't make it.
1360
00:59:40,098 --> 00:59:44,145
Donald Trump sent a fax
to the CEO of our company.
1361
00:59:45,494 --> 00:59:48,846
He wanted a public apology
1362
00:59:48,976 --> 00:59:51,196
or an immediate dismissal,
1363
00:59:51,326 --> 00:59:54,765
or he would institute a major
lawsuit against the firm.
1364
00:59:54,895 --> 00:59:57,028
My boss came to me and said,
1365
00:59:57,158 --> 00:59:59,770
"We're going to call
Donald Trump on the telephone."
1366
00:59:59,900 --> 01:00:01,032
♪
1367
01:00:01,162 --> 01:00:03,338
And Trump said, "Marvin,
1368
01:00:03,469 --> 01:00:04,818
the first thing
you're gonna do is
1369
01:00:04,949 --> 01:00:07,255
"call
'The Wall Street Journal.'
1370
01:00:07,386 --> 01:00:10,389
"And you're going to
tell them that
1371
01:00:10,519 --> 01:00:15,742
"that son-of-a-biscuit reporter
misquoted you.
1372
01:00:15,873 --> 01:00:19,572
"And then you're going to
write me a paper
1373
01:00:19,703 --> 01:00:21,487
"stating that the Taj Mahal is
1374
01:00:21,618 --> 01:00:24,229
gonna be
the greatest success ever."
1375
01:00:24,359 --> 01:00:27,580
I told my boss that I can't
write a paper like this.
1376
01:00:27,711 --> 01:00:29,756
There's no way in the world
1377
01:00:29,887 --> 01:00:32,280
that they're going to be able
to make their interest payment.
1378
01:00:32,411 --> 01:00:34,935
So I went back to my office.
1379
01:00:35,066 --> 01:00:38,460
And shortly thereafter,
my boss brings the letter.
1380
01:00:38,591 --> 01:00:41,986
And he said,
"Can you live with this?"
1381
01:00:42,116 --> 01:00:45,380
It said, "Dear Mr. Trump,
I apologize
1382
01:00:45,511 --> 01:00:48,296
"for my comments,
and when this property opens,
1383
01:00:48,427 --> 01:00:51,996
I'm sure it's gonna be a big
success" and all this stuff.
1384
01:00:52,126 --> 01:00:54,651
I was under incredible stress,
1385
01:00:54,781 --> 01:00:57,479
because I really liked my job.
1386
01:00:57,610 --> 01:00:59,525
And I had been there 17 years.
1387
01:00:59,656 --> 01:01:02,615
So I signed the letter.
1388
01:01:02,746 --> 01:01:04,791
I didn't sleep that night.
1389
01:01:04,922 --> 01:01:07,141
The very next morning,
1390
01:01:07,272 --> 01:01:09,187
I came into the office
1391
01:01:09,317 --> 01:01:11,276
and I wrote a letter
and I said,
1392
01:01:11,406 --> 01:01:14,453
"Dear Donald,
the letter that was sent to yu
1393
01:01:14,583 --> 01:01:16,629
"was never written by me.
1394
01:01:16,760 --> 01:01:20,589
"And I would direct
that you not use this letter
1395
01:01:20,720 --> 01:01:23,288
for any purpose whatsoever."
1396
01:01:23,418 --> 01:01:25,203
I sent the letter out,
1397
01:01:25,333 --> 01:01:29,860
and they immediately fired me.
1398
01:01:29,990 --> 01:01:31,905
[Strauss'
"Also Sprach Zarathustra"]
1399
01:01:32,036 --> 01:01:36,170
- One step beyond your
wildest imagination.
1400
01:01:36,301 --> 01:01:38,999
A billion-dollar dream
come true.
1401
01:01:39,130 --> 01:01:42,524
Donald J. Trump's Taj Mahal,
1402
01:01:42,655 --> 01:01:46,615
the eighth wonder
of the world.
1403
01:01:46,746 --> 01:01:47,921
[camera shutters clicking]
1404
01:01:48,052 --> 01:01:50,532
[upbeat music]
1405
01:01:50,663 --> 01:01:53,535
- Here's America's
foremost entrepreneur,
1406
01:01:53,666 --> 01:01:55,581
Mr. Donald Trump!
1407
01:01:55,712 --> 01:01:57,104
[cheers and applause]
1408
01:01:57,235 --> 01:01:59,019
♪
1409
01:01:59,150 --> 01:02:02,414
[electrical crackling noise]
1410
01:02:02,544 --> 01:02:04,068
♪
1411
01:02:04,198 --> 01:02:05,678
- Master.
1412
01:02:05,809 --> 01:02:08,768
I am here at your service.
1413
01:02:08,899 --> 01:02:12,641
This was an opportunity
you had long awaited.
1414
01:02:12,772 --> 01:02:13,817
[electrical cracking noises]
1415
01:02:13,947 --> 01:02:18,125
Open Sesame!
1416
01:02:18,256 --> 01:02:21,085
[fireworks popping]
1417
01:02:23,087 --> 01:02:26,220
♪
1418
01:02:26,351 --> 01:02:28,832
- There was a huge crowd
for the opening.
1419
01:02:28,962 --> 01:02:30,616
[camera shutters clicking]
1420
01:02:30,747 --> 01:02:32,531
People wanted to see
what this was like.
1421
01:02:32,661 --> 01:02:35,186
It had gotten a lot
of attention in the press.
1422
01:02:35,316 --> 01:02:36,970
- It was opening day
in Atlantic City...
1423
01:02:37,101 --> 01:02:39,625
- Donald Trump's billion-dollar
Taj Mahal casino
1424
01:02:39,756 --> 01:02:40,800
opens its door.
1425
01:02:40,931 --> 01:02:42,454
- Good luck, everybody.
1426
01:02:42,584 --> 01:02:44,848
Hope you're beating me.
Good luck.
1427
01:02:44,978 --> 01:02:47,328
♪
1428
01:02:47,459 --> 01:02:49,374
- On the outside,
it all looked great.
1429
01:02:49,504 --> 01:02:51,855
There really was an enormous
turnout for this opening.
1430
01:02:51,985 --> 01:02:53,813
- Good luck.
1431
01:02:53,944 --> 01:02:55,772
- But behind the scenes,
things were not going well.
1432
01:02:55,902 --> 01:02:58,818
[uneasy music]
1433
01:02:58,949 --> 01:03:01,690
- At one point,
I was in the back area,
1434
01:03:01,821 --> 01:03:05,825
and there was a--a door
on the other side of a hallwa.
1435
01:03:05,956 --> 01:03:07,914
I said, "I'm curious
what's in there."
1436
01:03:08,045 --> 01:03:11,135
And I got blank stares,
and nobody knew.
1437
01:03:11,265 --> 01:03:14,181
And we opened up
the steel doors.
1438
01:03:14,312 --> 01:03:15,617
And it was full of coin
they didn't
1439
01:03:15,748 --> 01:03:17,184
even know that was in there.
1440
01:03:17,315 --> 01:03:21,754
$2 million that
nobody knew even existed.
1441
01:03:21,885 --> 01:03:25,410
[laughs]
It was that bad.
1442
01:03:25,540 --> 01:03:28,935
- July was a poor month
in Atlantic City overall,
1443
01:03:29,066 --> 01:03:32,504
despite the opening of the
lavish Taj Mahal in the spring.
1444
01:03:32,634 --> 01:03:35,812
- We're now fully into
a recession.
1445
01:03:35,942 --> 01:03:38,249
People thought
that desperate people
1446
01:03:38,379 --> 01:03:39,511
will still go gambling,
1447
01:03:39,641 --> 01:03:42,122
but, in fact, revenues were down
1448
01:03:42,253 --> 01:03:44,821
at all the casinos.
1449
01:03:44,951 --> 01:03:48,999
It turned out that Marvin
was absolutely on the mark
1450
01:03:49,129 --> 01:03:51,479
with everything that he said.
1451
01:03:51,610 --> 01:03:53,742
- I thought
it was an easy call.
1452
01:03:53,873 --> 01:03:57,877
How all these people
got enticed into this,
1453
01:03:58,008 --> 01:04:00,924
this is something
I cannot understand.
1454
01:04:01,054 --> 01:04:03,752
- Donald's debts are piling up.
1455
01:04:03,883 --> 01:04:08,322
He was having trouble
paying all of his bills.
1456
01:04:08,453 --> 01:04:11,369
- Of course, Donald, you kno,
he had to blame somebody.
1457
01:04:11,499 --> 01:04:13,327
He wasn't gonna step up and say,
1458
01:04:13,458 --> 01:04:15,982
"Oh, I borrowed money at 14%."
1459
01:04:16,113 --> 01:04:17,766
- Nine months later,
1460
01:04:17,897 --> 01:04:19,681
in an interview
in "The New York Times,"
1461
01:04:19,812 --> 01:04:21,814
Trump attacked
the three dead men,
1462
01:04:21,945 --> 01:04:24,469
blaming many of his financial
problems in Atlantic City
1463
01:04:24,599 --> 01:04:27,037
on their mismanagement.
1464
01:04:27,167 --> 01:04:28,777
- I said, "Donald,
you can't do this.
1465
01:04:28,908 --> 01:04:30,867
"First off, it's not true.
1466
01:04:30,997 --> 01:04:33,957
"But second, you're blaming
people who died.
1467
01:04:34,087 --> 01:04:36,568
Quite frankly,
they died working for you."
1468
01:04:36,698 --> 01:04:38,613
♪
1469
01:04:38,744 --> 01:04:41,921
And ultimately this is
what caused the breakup
1470
01:04:42,052 --> 01:04:43,880
between myself
and Donald Trump.
1471
01:04:44,010 --> 01:04:45,751
♪
1472
01:04:45,882 --> 01:04:51,148
- By 1990, Donald is in trouble
on every front.
1473
01:04:51,278 --> 01:04:54,368
- And it was this moment
in his personal life where
1474
01:04:54,499 --> 01:04:56,196
everything falls apart.
1475
01:04:56,327 --> 01:05:01,462
♪
1476
01:05:01,593 --> 01:05:02,507
- When Donald and Ivana
returned
1477
01:05:02,637 --> 01:05:04,161
from Aspen to New York,
1478
01:05:04,291 --> 01:05:07,251
there was a period of
a month and a half or so,
1479
01:05:07,381 --> 01:05:09,427
where Ivana was just in shock.
1480
01:05:09,557 --> 01:05:12,604
Her whole world
had just exploded.
1481
01:05:12,734 --> 01:05:15,737
And finally,
she filed for divorce.
1482
01:05:15,868 --> 01:05:17,957
- Here comes the war
of the Trumps.
1483
01:05:18,088 --> 01:05:20,786
Ivana and the Donald
are calling it quits.
1484
01:05:20,917 --> 01:05:25,704
- This was
the tabloid sex scandal
1485
01:05:25,834 --> 01:05:27,836
of the 1990s.
1486
01:05:27,967 --> 01:05:31,057
- It was on the front page
of the papers for 28 days.
1487
01:05:31,188 --> 01:05:33,277
Trump, Trump, Trump, Trump.
1488
01:05:33,407 --> 01:05:35,496
I never saw anything like it
in my life.
1489
01:05:35,627 --> 01:05:39,457
- Ivana was leaking to
the "New York Daily News,"
1490
01:05:39,587 --> 01:05:42,025
and Trump was leaking
to the "New York Post."
1491
01:05:42,155 --> 01:05:44,679
It was a divorce
in the tabloids.
1492
01:05:44,810 --> 01:05:47,160
"Over Her Dead Body."
1493
01:05:47,291 --> 01:05:49,858
"Gimme the Plaza!"
1494
01:05:49,989 --> 01:05:51,904
"Best Sex I've Ever Had."
1495
01:05:52,035 --> 01:05:55,603
This is the best one:
"Ivana Better Deal."
1496
01:05:55,734 --> 01:05:57,388
- It had sex.
It had beauty.
1497
01:05:57,518 --> 01:05:59,085
It had bazillions of bucks.
1498
01:05:59,216 --> 01:06:01,696
And it had
a disgruntled ex-wife.
1499
01:06:01,827 --> 01:06:04,961
And it had an innocent
new girlfriend.
1500
01:06:05,091 --> 01:06:07,485
It had everything you would--
sex, love, and rock 'n' roll.
1501
01:06:07,615 --> 01:06:09,748
Well, no rock 'n' roll, but--
[laughs]
1502
01:06:09,878 --> 01:06:11,663
- The guy who penned
"The Art of the Deal"
1503
01:06:11,793 --> 01:06:14,883
has been less than artful
with this personal deal.
1504
01:06:15,014 --> 01:06:17,103
His first concern
has been telling the world
1505
01:06:17,234 --> 01:06:18,975
that the wife he put
in charge of the Plaza
1506
01:06:19,105 --> 01:06:21,760
was in charge in name only.
1507
01:06:21,890 --> 01:06:27,070
- He began to denigrate
Ivana and her performance,
1508
01:06:27,200 --> 01:06:30,464
saying that she wasn't
doing a good job,
1509
01:06:30,595 --> 01:06:31,900
that he was gonna
get rid of her.
1510
01:06:32,031 --> 01:06:33,728
- I felt terrible for her.
1511
01:06:33,859 --> 01:06:35,208
I mean, I knew he was
1512
01:06:35,339 --> 01:06:37,689
giving her a hard time
because I saw it.
1513
01:06:37,819 --> 01:06:39,821
So I could imagine what it
must have been like at home
1514
01:06:39,952 --> 01:06:42,085
if I saw what he was like
on the job.
1515
01:06:42,215 --> 01:06:45,131
She was wearing out.
She was not looking good.
1516
01:06:45,262 --> 01:06:47,568
And it was--it was very tough,
very tough on her.
1517
01:06:47,699 --> 01:06:50,571
- He would make the most
extraordinarily
1518
01:06:50,702 --> 01:06:54,314
horrible comments about
the mother of his children.
1519
01:06:54,445 --> 01:06:57,839
Barbara Walters took him
to task on the air about it.
1520
01:06:57,970 --> 01:07:00,929
- The author Marie Brenner
quotes you as saying to her,
1521
01:07:01,060 --> 01:07:02,540
"When a man leaves a woman,
1522
01:07:02,670 --> 01:07:04,368
"especially when it was
perceived that
1523
01:07:04,498 --> 01:07:06,935
"he has left for a piece of ass,
a good one,
1524
01:07:07,066 --> 01:07:09,025
"there are 50% of the population
1525
01:07:09,155 --> 01:07:11,288
who will love
the woman who was left."
1526
01:07:11,418 --> 01:07:13,116
- I do remember saying that.
1527
01:07:13,246 --> 01:07:15,248
I don't remember having
used those words, it's possible.
1528
01:07:15,379 --> 01:07:19,296
But I believe that
if a man leaves a woman
1529
01:07:19,426 --> 01:07:21,080
for almost any reason,
1530
01:07:21,211 --> 01:07:23,996
that that particular person,
the man,
1531
01:07:24,127 --> 01:07:25,954
is going to be
at a major disadvantage
1532
01:07:26,085 --> 01:07:27,130
in terms of the public eye.
1533
01:07:27,260 --> 01:07:28,609
There's no question about it.
1534
01:07:28,740 --> 01:07:30,872
- I felt so sorry for Ivana.
1535
01:07:31,003 --> 01:07:32,787
And don't forget,
the kids were young,
1536
01:07:32,918 --> 01:07:34,702
but they weren't that young,
1537
01:07:34,833 --> 01:07:36,791
so they knew what was going on.
1538
01:07:36,922 --> 01:07:39,055
Donnie Jr. was so upset
1539
01:07:39,185 --> 01:07:41,448
he didn't speak to him
for two years.
1540
01:07:41,579 --> 01:07:44,277
- It's hard to make the case
that Donald was right
1541
01:07:44,408 --> 01:07:46,279
in this situation.
1542
01:07:46,410 --> 01:07:48,368
[crowd clamoring]
- Is it true about...
1543
01:07:48,499 --> 01:07:49,804
- Do you wish we'd all go away?
1544
01:07:49,935 --> 01:07:51,371
- Absolutely.
1545
01:07:51,502 --> 01:07:53,504
♪
1546
01:07:53,634 --> 01:07:55,549
- Ivana was quite
a popular figure around town.
1547
01:07:55,680 --> 01:07:56,811
She was a mother.
1548
01:07:56,942 --> 01:07:58,770
And she was kind of--
1549
01:07:58,900 --> 01:08:01,077
clearly been shamed
by another woman.
1550
01:08:01,207 --> 01:08:02,904
- And because of her integrity,
1551
01:08:03,035 --> 01:08:04,776
the way she handled Donald,
1552
01:08:04,906 --> 01:08:06,560
the way that she handled
the children,
1553
01:08:06,691 --> 01:08:09,650
she became so well-respected.
1554
01:08:09,781 --> 01:08:14,394
- Fred and his wife were
very saddened and disturbed
1555
01:08:14,525 --> 01:08:17,223
about the dissolution
of Trump's marriage.
1556
01:08:17,353 --> 01:08:19,443
- He really liked Ivana,
1557
01:08:19,573 --> 01:08:21,532
and he loved his grandchildren.
1558
01:08:21,662 --> 01:08:24,491
- A new kind of aura
developed around Trump,
1559
01:08:24,621 --> 01:08:27,538
of being a very
disreputable guy, really,
1560
01:08:27,667 --> 01:08:28,887
a short of a shabby guy
1561
01:08:29,017 --> 01:08:30,496
who cheated on his wife
1562
01:08:30,628 --> 01:08:32,804
and who had incurred
a lot of debt.
1563
01:08:32,934 --> 01:08:35,589
- For Donald Trump,
there's nothing worse
1564
01:08:35,719 --> 01:08:37,287
than being a laughingstock.
1565
01:08:37,416 --> 01:08:39,505
It's something that
has always brought out
1566
01:08:39,637 --> 01:08:42,161
the most aggressive aspects
of his personality.
1567
01:08:42,291 --> 01:08:43,771
♪
1568
01:08:43,902 --> 01:08:46,252
Every morning, he was given
1569
01:08:46,383 --> 01:08:49,211
a folder full of the clippings
from the newspapers
1570
01:08:49,342 --> 01:08:51,344
about him, any mention of him.
1571
01:08:51,475 --> 01:08:53,651
And he raged at
any negative coverage,
1572
01:08:53,781 --> 01:08:56,349
or any criticism that he got.
1573
01:08:56,479 --> 01:08:59,264
- He became very, very
aggressive towards journalists
1574
01:08:59,396 --> 01:09:01,615
he felt had not
given him the right coverage.
1575
01:09:01,746 --> 01:09:03,399
♪
1576
01:09:03,530 --> 01:09:06,011
Then gradually,
things got out of control.
1577
01:09:06,142 --> 01:09:07,708
[upbeat music]
1578
01:09:07,839 --> 01:09:09,754
- One day,
the executive producer
1579
01:09:09,884 --> 01:09:12,408
came to me and said, "We've got
an interview with Donald Trump."
1580
01:09:12,539 --> 01:09:14,672
You became very public
1581
01:09:14,801 --> 01:09:17,065
very clearly
by your own design.
1582
01:09:17,196 --> 01:09:18,371
- I don't know if
it was by my own design.
1583
01:09:18,502 --> 01:09:19,371
- You mean the publicity?
1584
01:09:19,503 --> 01:09:20,416
- I do developments,
1585
01:09:20,547 --> 01:09:21,765
which get a lot of publicity.
1586
01:09:21,896 --> 01:09:23,071
I mean, if Trump--
- Oh, come on.
1587
01:09:23,202 --> 01:09:24,943
- I mean this.
- Uh-huh?
1588
01:09:25,073 --> 01:09:27,119
- There's no reason to expose
yourself to millions of people.
1589
01:09:27,250 --> 01:09:28,773
There's no--
- But you know why you do it?
1590
01:09:28,903 --> 01:09:30,949
- Why? Tell me.
- You love the publicity.
1591
01:09:31,078 --> 01:09:32,342
- Oh, I hate the publicity.
- Oh, come on!
1592
01:09:32,471 --> 01:09:33,821
Get out of here.
- No, I'm telling you.
1593
01:09:33,952 --> 01:09:34,779
I hate the publicity.
- Oh, please!
1594
01:09:34,908 --> 01:09:36,172
- I hate it.
1595
01:09:36,301 --> 01:09:37,260
- Gradually,
he began to lose control
1596
01:09:37,389 --> 01:09:38,390
of his own narrative,
1597
01:09:38,522 --> 01:09:40,219
which made him very, very angry.
1598
01:09:40,350 --> 01:09:43,179
- He was so thin-skinned
1599
01:09:43,309 --> 01:09:44,832
that he couldn't take it.
1600
01:09:44,962 --> 01:09:46,791
- I don't think it was
fun for him anymore.
1601
01:09:46,921 --> 01:09:49,140
And I think it drove him
very dark.
1602
01:09:49,272 --> 01:09:50,577
♪
1603
01:09:50,708 --> 01:09:52,710
- In 1991, I decided that
1604
01:09:52,840 --> 01:09:55,495
it was time to kind of do
the very reported piece
1605
01:09:55,626 --> 01:09:57,671
on--on what was really going on
in the Trump empire.
1606
01:09:57,802 --> 01:10:01,545
We assigned Marie Brenner
to it.
1607
01:10:01,675 --> 01:10:03,721
It was very explosive,
because not only
1608
01:10:03,851 --> 01:10:06,245
did she talk about
his business reverses
1609
01:10:06,376 --> 01:10:08,769
in a very candid way,
but she also described
1610
01:10:08,900 --> 01:10:11,642
the whole kind of fakery
of the Trump world.
1611
01:10:11,772 --> 01:10:13,252
♪
1612
01:10:13,383 --> 01:10:15,298
We had his brother Robert
quoted saying,
1613
01:10:15,428 --> 01:10:18,779
"Donald was the kid at the
birthday party who threw cake."
1614
01:10:18,910 --> 01:10:21,260
He always wanted the attention.
He didn't care how he got it.
1615
01:10:21,391 --> 01:10:23,436
He was the one trashing
everybody else
1616
01:10:23,567 --> 01:10:24,611
if he didn't get
what he wanted.
1617
01:10:24,742 --> 01:10:26,439
Trump was very angry
1618
01:10:26,570 --> 01:10:29,050
and felt that
he'd been sort of betrayed.
1619
01:10:29,181 --> 01:10:31,749
So about five or six
months later,
1620
01:10:31,879 --> 01:10:33,880
Marie Brenner was
attending a benefit.
1621
01:10:34,012 --> 01:10:36,318
- I think it was
a black-tie dinner.
1622
01:10:36,449 --> 01:10:38,712
She sitting there
with the strapless--
1623
01:10:38,843 --> 01:10:40,627
backless--you know, her back.
1624
01:10:40,758 --> 01:10:43,151
- She suddenly felt
something sort of down her back,
1625
01:10:43,282 --> 01:10:45,415
something sort of cold and wet.
1626
01:10:45,545 --> 01:10:48,068
- And she turns,
and she sees Donald Trump
1627
01:10:48,200 --> 01:10:51,116
walking away with
an empty glass in his hand.
1628
01:10:51,246 --> 01:10:54,380
He had poured wine
down her back
1629
01:10:54,511 --> 01:10:58,079
as a way of getting even for
the piece she wrote about him.
1630
01:10:58,210 --> 01:11:00,647
[laughs]
And it was just unbelievable.
1631
01:11:00,778 --> 01:11:03,302
- Normally when a reporter
writes a story,
1632
01:11:03,433 --> 01:11:07,785
if the source or the subject
disagrees with it,
1633
01:11:07,915 --> 01:11:10,091
there is a civil discourse.
1634
01:11:10,222 --> 01:11:14,052
In my case, a glass of wine
was poured down my back.
1635
01:11:14,182 --> 01:11:16,489
♪
1636
01:11:16,620 --> 01:11:18,752
- Seems just yesterday
the big news magazines
1637
01:11:18,883 --> 01:11:20,406
were running
cover stories about
1638
01:11:20,537 --> 01:11:22,626
his astonishing
financial success.
1639
01:11:22,755 --> 01:11:25,498
The headlines are screaming,
"Death of a Legend"
1640
01:11:25,629 --> 01:11:27,934
and calling him
"the has-been of high finance"
1641
01:11:28,066 --> 01:11:31,896
See, Donald is short of cash.
1642
01:11:32,026 --> 01:11:34,768
- By 1990, Trump's entire empire
1643
01:11:34,898 --> 01:11:37,554
was, quote,
"in severe financial distress."
1644
01:11:37,684 --> 01:11:40,121
- Donald's financial troubles
1645
01:11:40,252 --> 01:11:42,166
became so massive,
1646
01:11:42,298 --> 01:11:44,517
ultimately that Fred
had to help bail him out.
1647
01:11:44,648 --> 01:11:47,737
Nobody ever bailed out
Fred Trump
1648
01:11:47,868 --> 01:11:49,740
in the way that he bailed out
his own son.
1649
01:11:49,870 --> 01:11:52,264
- Even Donald's father
has helped out.
1650
01:11:52,395 --> 01:11:54,527
A $3 million purchase of chips
1651
01:11:54,657 --> 01:11:56,268
in one of his son's casinos
1652
01:11:56,398 --> 01:11:59,010
went toward paying
interest to bondholders.
1653
01:11:59,139 --> 01:12:01,055
- His father sent a lawyer
1654
01:12:01,186 --> 01:12:03,188
down to Atlantic City to buy
1655
01:12:03,318 --> 01:12:05,538
a couple million dollars worth
of chips
1656
01:12:05,669 --> 01:12:09,237
to give him some cash in
order to meet his obligations.
1657
01:12:09,368 --> 01:12:12,240
♪
1658
01:12:12,371 --> 01:12:14,286
- Trump is going
down to the wire
1659
01:12:14,416 --> 01:12:16,332
with empire in danger
of toppling.
1660
01:12:16,462 --> 01:12:18,550
He has to come up
with millions of dollars
1661
01:12:18,682 --> 01:12:22,076
by tomorrow, or an
uncontrollable chain of events
1662
01:12:22,207 --> 01:12:23,077
could be set in motion.
1663
01:12:23,208 --> 01:12:25,210
[somber music]
1664
01:12:25,341 --> 01:12:26,994
- He was facing
a midnight deadline
1665
01:12:27,125 --> 01:12:29,648
to make payments.
1666
01:12:29,780 --> 01:12:31,651
The midnight deadline
came and went.
1667
01:12:31,782 --> 01:12:33,436
♪
1668
01:12:33,566 --> 01:12:35,046
And all of the lawyers
1669
01:12:35,175 --> 01:12:37,614
representing
the companies and banks,
1670
01:12:37,744 --> 01:12:40,050
they were all gathered at
the bankruptcy lawyers' office
1671
01:12:40,181 --> 01:12:41,357
in Manhattan.
1672
01:12:41,487 --> 01:12:42,880
♪
1673
01:12:43,010 --> 01:12:45,621
Trump is at home
in Trump Tower,
1674
01:12:45,752 --> 01:12:48,668
and he gets a call
summoning him
1675
01:12:48,799 --> 01:12:50,670
at the meeting
in the middle of the night.
1676
01:12:50,800 --> 01:12:53,717
And he gets in the limo
and rushes over.
1677
01:12:53,847 --> 01:12:55,806
And this is it.
1678
01:12:55,936 --> 01:12:58,678
I mean, this is potentially
the end of the Trump empire.
1679
01:12:58,809 --> 01:13:00,724
♪
1680
01:13:00,853 --> 01:13:03,596
- If he failed, he would
be given over to the bank,
1681
01:13:03,727 --> 01:13:07,165
including properties
that Fred had developed.
1682
01:13:07,295 --> 01:13:10,081
So Trump was
staring at destroying
1683
01:13:10,210 --> 01:13:12,605
not only his own legacy
1684
01:13:12,736 --> 01:13:15,173
but his father's legacy
as well.
1685
01:13:18,175 --> 01:13:20,091
[brooding music]
1686
01:13:20,221 --> 01:13:22,223
- In what could be
his final roll of the dice,
1687
01:13:22,353 --> 01:13:24,487
the Donald met late
into the night with creditors
1688
01:13:24,617 --> 01:13:26,489
who want to shut down
his Taj Mahal casino
1689
01:13:26,619 --> 01:13:29,100
and get their money back.
1690
01:13:29,230 --> 01:13:31,102
- He was frightened.
1691
01:13:31,232 --> 01:13:34,975
He was terrified of losing
everything he had acquired.
1692
01:13:35,106 --> 01:13:39,937
♪
1693
01:13:40,067 --> 01:13:43,549
A signal moment
was when a bank told him
1694
01:13:43,680 --> 01:13:46,073
that unless he made good
on the payments on his yacht,
1695
01:13:46,204 --> 01:13:48,424
they were going to
take the yacht away from him.
1696
01:13:48,554 --> 01:13:50,208
Trump decided, "Okay.
1697
01:13:50,338 --> 01:13:52,558
Let's just tell them
they can have the yacht."
1698
01:13:52,689 --> 01:13:54,778
And the bank came back
to them and said,
1699
01:13:54,907 --> 01:13:57,215
"Well, wait a minute.
We don't want to own a yacht.
1700
01:13:57,344 --> 01:13:58,825
We really don't want
to deal with this."
1701
01:13:58,956 --> 01:14:00,914
And that's when a light
went off in Trump's head.
1702
01:14:01,045 --> 01:14:03,221
He realized that
he was too big to fail.
1703
01:14:03,351 --> 01:14:04,483
♪
1704
01:14:04,614 --> 01:14:06,267
- Trump's biggest creditors
1705
01:14:06,398 --> 01:14:08,226
have come up with
a temporary agreement.
1706
01:14:08,356 --> 01:14:10,837
- He's been put
on a personal allowance.
1707
01:14:10,968 --> 01:14:12,317
He'll have to scrape by
1708
01:14:12,448 --> 01:14:15,189
on $450,000 a month.
1709
01:14:15,320 --> 01:14:16,713
♪
1710
01:14:16,843 --> 01:14:18,715
- He's put on an allowance.
1711
01:14:18,844 --> 01:14:21,718
And most of his biggest toys
are taken away from him:
1712
01:14:21,848 --> 01:14:25,156
the airline, the Plaza Hotel,
1713
01:14:25,286 --> 01:14:29,813
all except Mar-a-Lago
and his triplex in Trump Tower.
1714
01:14:29,943 --> 01:14:32,293
- As for today's events,
Donald Trump says
1715
01:14:32,424 --> 01:14:34,905
he made a great deal,
a fantastic deal,
1716
01:14:35,035 --> 01:14:37,647
that his empire is intact
and he's running it.
1717
01:14:37,777 --> 01:14:39,344
♪
1718
01:14:39,475 --> 01:14:41,085
- During the course
of that summer,
1719
01:14:41,215 --> 01:14:43,304
it was Trump's 44th birthday.
1720
01:14:43,434 --> 01:14:46,046
He announced a big bash
for himself
1721
01:14:46,177 --> 01:14:48,092
in Atlantic City.
1722
01:14:48,222 --> 01:14:49,789
- How's the morale these days
1723
01:14:49,920 --> 01:14:51,617
with all the news
about the financial problems?
1724
01:14:51,748 --> 01:14:53,793
- It's what the newspapers
are doing to us.
1725
01:14:53,924 --> 01:14:55,491
And we've got to
turn that around.
1726
01:14:55,621 --> 01:14:57,231
You know, who doesn't
bounce a check?
1727
01:14:57,362 --> 01:14:59,146
You know, everyone has
a little financials problems
1728
01:14:59,277 --> 01:15:00,365
every now and then.
1729
01:15:00,496 --> 01:15:02,106
[cheers and applause]
1730
01:15:02,236 --> 01:15:04,325
- Happy birthday, Donald.
1731
01:15:04,456 --> 01:15:06,719
- At the time of
his birthday party,
1732
01:15:06,850 --> 01:15:10,593
he must know he has no hope
of making a success.
1733
01:15:10,723 --> 01:15:12,898
He's telling the public there's
no doubt it will be successful.
1734
01:15:13,030 --> 01:15:13,987
♪
1735
01:15:14,118 --> 01:15:15,641
- The Taj Mahal
1736
01:15:15,772 --> 01:15:18,121
set a record,
an all-time record.
1737
01:15:18,252 --> 01:15:19,993
Nobody wants to write about it.
1738
01:15:20,124 --> 01:15:22,561
They want to write the
negatives, not the positives.
1739
01:15:22,692 --> 01:15:24,258
And that's okay.
1740
01:15:24,389 --> 01:15:26,826
Over the years, I've surprised
a lot of people.
1741
01:15:26,957 --> 01:15:28,741
The biggest surprise
is yet to come.
1742
01:15:28,871 --> 01:15:30,526
Thank you very much.
1743
01:15:30,656 --> 01:15:31,570
Thank you.
1744
01:15:33,398 --> 01:15:36,749
- The restructuring
of Donald Trump's debts
1745
01:15:36,880 --> 01:15:39,404
only delayed the inevitable.
1746
01:15:39,535 --> 01:15:42,059
- In 1991,
1747
01:15:42,189 --> 01:15:45,105
within less than a year,
the Taj would go bankrupt.
1748
01:15:45,236 --> 01:15:46,889
The Castle and the Plaza
1749
01:15:47,020 --> 01:15:49,196
both also go into
bankruptcy protection.
1750
01:15:49,327 --> 01:15:51,634
There's an operating bankruptcy
1751
01:15:51,764 --> 01:15:54,157
that Trump took advantage of,
1752
01:15:54,288 --> 01:15:56,987
which allowed him to keep
the doors of the casinos open
1753
01:15:57,117 --> 01:15:58,249
while he worked out the debt.
1754
01:15:58,379 --> 01:16:00,991
♪
1755
01:16:01,121 --> 01:16:02,775
[soft dramatic music]
1756
01:16:02,906 --> 01:16:04,647
- At last, they are
Mr. and Mrs. Trump,
1757
01:16:04,777 --> 01:16:06,387
who came down
the long staircase
1758
01:16:06,518 --> 01:16:08,302
of the Plaza Hotel this evening
1759
01:16:08,433 --> 01:16:11,218
after tying the knot
in front of about 1,000 guests.
1760
01:16:11,349 --> 01:16:12,698
♪
1761
01:16:12,829 --> 01:16:14,047
- Donald's marriage to Marla
1762
01:16:14,178 --> 01:16:15,353
took place at the Plaza Hotel,
1763
01:16:15,483 --> 01:16:17,702
which he owned at the time.
1764
01:16:17,834 --> 01:16:20,139
[laughs] I guess he got
a good deal on the catering.
1765
01:16:20,271 --> 01:16:21,184
I don't know.
1766
01:16:21,315 --> 01:16:23,621
♪
1767
01:16:23,753 --> 01:16:26,582
It was an over-the-top
extravaganza.
1768
01:16:26,712 --> 01:16:28,714
- I think it's
an exciting event.
1769
01:16:28,844 --> 01:16:32,152
I am, uh, certainly never near
anything that reeks of society.
1770
01:16:32,282 --> 01:16:34,067
- It's kind of a royal wedding
in New York, isn't it?
1771
01:16:34,198 --> 01:16:37,070
- It was lovely.
She looked beautiful.
1772
01:16:37,201 --> 01:16:38,463
It was just a big, giant party.
1773
01:16:38,594 --> 01:16:40,508
♪
1774
01:16:40,639 --> 01:16:42,946
- He's now on
his second marriage.
1775
01:16:43,076 --> 01:16:46,558
But he's still got
financial problems.
1776
01:16:46,689 --> 01:16:49,255
- There were certainly plenty
of developers at that time
1777
01:16:49,387 --> 01:16:50,823
who basically went into
bankruptcy
1778
01:16:50,954 --> 01:16:52,825
and were left with nothing.
1779
01:16:52,956 --> 01:16:55,175
Trump was very close
to joining that club
1780
01:16:55,306 --> 01:16:57,438
of great wealthy people
who had lost everything.
1781
01:16:57,568 --> 01:16:59,309
♪
1782
01:16:59,440 --> 01:17:01,921
- What he and his bankers
come up with
1783
01:17:02,052 --> 01:17:05,142
is the idea of
creating a public company.
1784
01:17:06,925 --> 01:17:09,059
[traffic honking]
1785
01:17:09,189 --> 01:17:12,062
[distant crowd applauding]
1786
01:17:12,192 --> 01:17:13,933
- Donald Trump is gambling
1787
01:17:14,064 --> 01:17:16,544
investors want to
bet on him again.
1788
01:17:16,675 --> 01:17:19,764
- We're really happy.
This is a very exciting day.
1789
01:17:19,896 --> 01:17:21,898
- When a company
becomes public,
1790
01:17:22,028 --> 01:17:23,856
you're offering investors
1791
01:17:23,987 --> 01:17:25,902
a stake in your company
in return for their cash.
1792
01:17:26,032 --> 01:17:28,165
- For those interested
in following the stock,
1793
01:17:28,295 --> 01:17:30,776
Trump made it
characteristically easy.
1794
01:17:30,907 --> 01:17:34,432
It trades under the symbol
of DJT: Donald J. Trump.
1795
01:17:34,562 --> 01:17:37,304
- The shares opened at
$14 a share.
1796
01:17:37,434 --> 01:17:39,742
It grows to $32 a share.
1797
01:17:39,871 --> 01:17:41,744
People believed in Donald.
1798
01:17:41,874 --> 01:17:45,617
That had confidence
that Donald could be
1799
01:17:45,748 --> 01:17:49,403
the catalyst for success.
1800
01:17:49,534 --> 01:17:51,405
- Going public can be
like hitting the jackpot.
1801
01:17:51,536 --> 01:17:53,843
The drawer of
the cash register opens,
1802
01:17:53,973 --> 01:17:55,975
and suddenly there's
a lot more cash
1803
01:17:56,106 --> 01:17:58,325
you can grab and put to uses.
1804
01:17:58,456 --> 01:18:00,719
- He created a public company
1805
01:18:00,850 --> 01:18:02,764
to buy the junk assets,
1806
01:18:02,895 --> 01:18:05,768
in other words,
to buy the Trump casinos.
1807
01:18:05,898 --> 01:18:09,772
- This allowed Trump
to get out from beneath
1808
01:18:09,902 --> 01:18:11,643
the weight of a lot of debt that
1809
01:18:11,773 --> 01:18:14,385
he otherwise would have
had to repay himself personally.
1810
01:18:14,514 --> 01:18:16,126
- Trump's not left
holding the bag
1811
01:18:16,255 --> 01:18:19,825
because he's already
sold this public company
1812
01:18:19,956 --> 01:18:22,741
his overleveraged junky assets
for more than it's worth,
1813
01:18:22,871 --> 01:18:25,004
cashed out of some stock.
1814
01:18:25,135 --> 01:18:27,659
So when the stock goes down
and goes bust,
1815
01:18:27,790 --> 01:18:30,227
individual investors
who bought stock
1816
01:18:30,357 --> 01:18:32,838
in his public company
in Atlantic City
1817
01:18:32,969 --> 01:18:36,189
just completely
lost their shirt.
1818
01:18:36,320 --> 01:18:38,322
- Things went so poorly that
the share price went
1819
01:18:38,452 --> 01:18:41,629
from about $35 to 17¢.
1820
01:18:41,760 --> 01:18:43,066
This is an
extraordinary failure.
1821
01:18:43,196 --> 01:18:45,329
♪
1822
01:18:45,459 --> 01:18:47,244
- How do you feel
as a bond owner?
1823
01:18:47,374 --> 01:18:49,942
- Uh, pretty bad.
I--pretty bad about it.
1824
01:18:50,073 --> 01:18:51,204
It's un--it's unbelievable.
1825
01:18:51,335 --> 01:18:52,553
With his name and everything,
1826
01:18:52,684 --> 01:18:54,338
I thought I had
a good investment.
1827
01:18:54,468 --> 01:18:56,035
♪
1828
01:18:56,166 --> 01:18:58,210
- That was, in effect,
1829
01:18:58,342 --> 01:19:01,388
the most profitable idea
Trump ever had,
1830
01:19:01,519 --> 01:19:04,652
because he put himself
into deals
1831
01:19:04,782 --> 01:19:07,351
in which he could not
really lose money.
1832
01:19:07,481 --> 01:19:09,048
He could only make money.
1833
01:19:09,179 --> 01:19:12,398
- To have one business failure
after another
1834
01:19:12,530 --> 01:19:15,880
and still walk away
with millions,
1835
01:19:16,012 --> 01:19:19,710
uh, it's extraordinarily rare.
1836
01:19:19,842 --> 01:19:22,670
- The upside will
take care of itself.
1837
01:19:22,800 --> 01:19:25,891
It's the downside
you have to take care of.
1838
01:19:26,022 --> 01:19:28,023
Ben Hogan, uh, the golfer,
he said,
1839
01:19:28,154 --> 01:19:30,853
"It's not about who
hits the most good shots.
1840
01:19:30,983 --> 01:19:34,246
It's about who hits
the best bad shots."
1841
01:19:34,378 --> 01:19:38,164
Meaning, it's the guy who
hits the bad shots that work
1842
01:19:38,295 --> 01:19:39,905
that win.
1843
01:19:43,213 --> 01:19:44,300
[soft dramatic music]
1844
01:19:44,431 --> 01:19:46,520
- The winner in Donald Trump's
1845
01:19:46,651 --> 01:19:49,262
Atlantic City empire
was Donald Trump.
1846
01:19:49,393 --> 01:19:51,612
The stockholders were losers,
1847
01:19:51,743 --> 01:19:54,267
and also the vendors that were
1848
01:19:54,398 --> 01:19:56,748
unpaid for the work
that they did.
1849
01:19:56,879 --> 01:19:58,837
- It is a private meeting
1850
01:19:58,968 --> 01:20:00,708
to find out how we're
going to collect our money.
1851
01:20:00,839 --> 01:20:02,754
- How much money
is to be collected?
1852
01:20:02,885 --> 01:20:05,583
- For us, $1.2 million.
1853
01:20:05,713 --> 01:20:08,978
- And for all the contractors?
- I don't know that figure.
1854
01:20:09,108 --> 01:20:12,895
It's in excess of $60 million.
I don't know the exact figure.
1855
01:20:13,025 --> 01:20:14,984
By contract, it was for
1856
01:20:15,114 --> 01:20:21,164
glass and glazing,
storefronts, mirrors...
1857
01:20:21,294 --> 01:20:23,383
- What they were looking for
1858
01:20:23,514 --> 01:20:26,473
was a grand piano
with a computer built in
1859
01:20:26,603 --> 01:20:28,388
that would play by itself.
1860
01:20:28,519 --> 01:20:29,955
I talked to my lawyer
and I said, "You know,
1861
01:20:30,085 --> 01:20:32,523
"we have about $100,000
involved in this.
1862
01:20:32,653 --> 01:20:35,612
Do I need to put a lean
on the property?"
1863
01:20:35,743 --> 01:20:37,223
He laughed at me and he said,
1864
01:20:37,353 --> 01:20:38,572
"You're doing business
with Donald Trump.
1865
01:20:38,702 --> 01:20:40,879
He has lots of money."
1866
01:20:41,010 --> 01:20:43,360
The 90 days came
and I still hadn't been paid.
1867
01:20:43,490 --> 01:20:45,884
So I gave them a call.
"Oh, we--we'll take care of it.
1868
01:20:46,014 --> 01:20:47,668
"We got a few other bills
to take care of.
1869
01:20:47,799 --> 01:20:49,409
And, you know,
don't worry about it."
1870
01:20:49,540 --> 01:20:52,717
- We had to lay off
a substantial amount of men.
1871
01:20:52,848 --> 01:20:55,415
We wound up using
our credit lines
1872
01:20:55,546 --> 01:20:58,070
to pay our suppliers.
1873
01:20:58,201 --> 01:21:00,550
- Finally got a letter
from the Taj Mahal.
1874
01:21:00,681 --> 01:21:04,468
So he said, you can
accept 70% on the dollar,
1875
01:21:04,598 --> 01:21:08,385
or you can wait till the casino
makes enough money on its own
1876
01:21:08,514 --> 01:21:10,082
to pay it in full,
1877
01:21:10,213 --> 01:21:11,692
or you can put us
into bankruptcy
1878
01:21:11,823 --> 01:21:14,347
and get maybe 10¢ on the dollar.
1879
01:21:14,478 --> 01:21:20,484
- A lot of the small contractors
went under.
1880
01:21:22,050 --> 01:21:23,748
[uneasy music]
1881
01:21:23,879 --> 01:21:25,402
- From Trump's viewpoint,
1882
01:21:25,532 --> 01:21:27,839
it was all about his survival.
1883
01:21:27,969 --> 01:21:30,014
If that meant that certain
people were shortchanged,
1884
01:21:30,146 --> 01:21:33,062
that was okay with Trump,
because he won.
1885
01:21:33,192 --> 01:21:35,193
- I was in a room
with a group of people.
1886
01:21:35,325 --> 01:21:36,761
And a friend was saying--
1887
01:21:36,892 --> 01:21:38,981
and they were
talking about me--
1888
01:21:39,111 --> 01:21:41,418
"Well, Trump didn't do so wel
in Atlantic City."
1889
01:21:41,548 --> 01:21:43,072
And the other guy said,
Trump made
1890
01:21:43,202 --> 01:21:45,117
a [bleep] fortune there--
are you cra--
1891
01:21:45,248 --> 01:21:46,597
Pulled the money out,
he brought property
1892
01:21:46,727 --> 01:21:48,338
all over the [bleep] world.
1893
01:21:48,468 --> 01:21:49,948
And you're saying
he didn't make money?
1894
01:21:50,079 --> 01:21:51,428
Then he bankrupted it
three times,
1895
01:21:51,558 --> 01:21:53,082
and every time he bankrupt--
in fact,
1896
01:21:53,212 --> 01:21:54,257
people are amazed because
we bankrupted,
1897
01:21:54,387 --> 01:21:56,128
it came back more, more, more,
1898
01:21:56,259 --> 01:21:57,956
'cause I know how
to use the system.
1899
01:21:58,087 --> 01:22:00,916
♪
1900
01:22:01,046 --> 01:22:03,875
[pensive music]
1901
01:22:04,005 --> 01:22:07,052
♪
1902
01:22:07,183 --> 01:22:11,361
- Marla was someone who
didn't fit in Donald's world.
1903
01:22:11,491 --> 01:22:13,710
As a result, she was
1904
01:22:13,841 --> 01:22:16,366
almost an in-between figure in
his
1905
01:22:16,496 --> 01:22:20,326
life, and they were not married
for very long.
1906
01:22:20,457 --> 01:22:22,981
When they divorced, she too
1907
01:22:23,112 --> 01:22:25,505
was the victim of
a prenuptial agreement
1908
01:22:25,636 --> 01:22:28,030
that made life a little hardr
than it should have been
1909
01:22:28,160 --> 01:22:30,467
for the divorced wife of
1910
01:22:30,597 --> 01:22:32,817
a man who claimed to be
a billionaire.
1911
01:22:32,948 --> 01:22:35,298
- He's always gonna be fine,
he's just got a way.
1912
01:22:35,428 --> 01:22:37,126
[both laugh]
1913
01:22:37,255 --> 01:22:39,737
- His marriage to
Marla Maples was ending.
1914
01:22:39,867 --> 01:22:42,740
He had gone through
bankruptcies.
1915
01:22:42,870 --> 01:22:46,918
His father, Fred Trump,
had been sick for many years.
1916
01:22:47,049 --> 01:22:51,401
It was one of the lowest
moments of his life.
1917
01:22:51,531 --> 01:22:54,360
[somber piano music]
1918
01:22:54,491 --> 01:22:59,670
♪
1919
01:22:59,800 --> 01:23:01,411
- Donald and his father
1920
01:23:01,541 --> 01:23:04,066
had a tough relationship
through the years.
1921
01:23:04,196 --> 01:23:07,678
Fred Trump was often
dismissive of Donald's ventures,
1922
01:23:07,808 --> 01:23:09,201
especially early on.
1923
01:23:09,332 --> 01:23:10,942
He thought that he was
1924
01:23:11,073 --> 01:23:12,857
taking on way more
than he could chew.
1925
01:23:12,987 --> 01:23:16,165
He was very critical of Donad
for going into debt,
1926
01:23:16,295 --> 01:23:18,341
didn't like the whole idea
of building an empire
1927
01:23:18,471 --> 01:23:19,864
based on debt.
1928
01:23:19,995 --> 01:23:21,431
And yet in later years,
1929
01:23:21,561 --> 01:23:23,607
Fred Trump showed
considerable pride
1930
01:23:23,737 --> 01:23:26,130
in what his son had achieved.
1931
01:23:26,262 --> 01:23:29,395
- You can't overestimate
the impact that
1932
01:23:29,526 --> 01:23:31,005
Fred Trump has had on
1933
01:23:31,136 --> 01:23:33,704
the life and imagination
of his son Donald.
1934
01:23:33,834 --> 01:23:37,273
Donald grew up
intimidated by his father,
1935
01:23:37,403 --> 01:23:38,969
enamored of his father,
1936
01:23:39,101 --> 01:23:41,146
deeply respectful
of his father.
1937
01:23:41,277 --> 01:23:42,626
♪
1938
01:23:42,755 --> 01:23:44,889
One of the only photographs
1939
01:23:45,020 --> 01:23:48,458
that travels with Trump
from New York to Washington
1940
01:23:48,588 --> 01:23:51,330
is a black-and-white photo
of Fred Trump.
1941
01:23:51,460 --> 01:23:52,940
♪
1942
01:23:53,071 --> 01:23:55,073
Fred Trump looms
very, very large
1943
01:23:55,204 --> 01:23:58,207
in Donald Trump's history.
1944
01:23:58,337 --> 01:24:01,558
[dramatic music]
1945
01:24:01,688 --> 01:24:04,778
- At the time that
his father died,
1946
01:24:04,909 --> 01:24:08,085
Donald was no longer able
to borrow money from banks
1947
01:24:08,217 --> 01:24:09,478
to put up a project.
1948
01:24:09,609 --> 01:24:10,741
♪
1949
01:24:10,871 --> 01:24:12,221
- His divorce from Marla,
1950
01:24:12,351 --> 01:24:14,092
his failures
in other businesses,
1951
01:24:14,223 --> 01:24:17,487
he was not the fair-haired by
that he had been
1952
01:24:17,617 --> 01:24:20,316
when he was building
Trump Tower.
1953
01:24:20,446 --> 01:24:22,361
He was in a steady decline,
1954
01:24:22,492 --> 01:24:25,234
maybe $4 or $5 billion
of corporate debt.
1955
01:24:25,364 --> 01:24:27,018
The myth was broken.
1956
01:24:27,148 --> 01:24:28,846
Newspapers were now
going after him,
1957
01:24:28,976 --> 01:24:30,456
instead of just doing
press releases on him.
1958
01:24:30,587 --> 01:24:31,718
Oh, it was very bad.
1959
01:24:31,849 --> 01:24:34,634
♪
1960
01:24:34,764 --> 01:24:36,462
- His casinos had failed.
1961
01:24:36,593 --> 01:24:38,334
He'd gone into bankruptcy.
1962
01:24:38,464 --> 01:24:40,466
At that point,
he was fading into
1963
01:24:40,597 --> 01:24:43,382
just another New York developer
that nobody cared about.
1964
01:24:43,513 --> 01:24:46,864
♪
1965
01:24:48,822 --> 01:24:52,304
- Who will be "The Apprentice"?
1966
01:24:52,434 --> 01:24:56,568
- It was the American dream
on TV.
1967
01:24:56,700 --> 01:24:57,614
- You're fired.
You're fired.
1968
01:24:57,744 --> 01:24:59,094
You're fired.
1969
01:24:59,224 --> 01:25:00,704
- He's now gonna
try to trade on
1970
01:25:00,834 --> 01:25:02,749
a new version of his character,
1971
01:25:02,880 --> 01:25:03,750
which is that he's a survivor.
1972
01:25:03,880 --> 01:25:05,535
- I think you'll like it.
1973
01:25:05,665 --> 01:25:07,318
- Before you knew it,
it was Trump soap,
1974
01:25:07,450 --> 01:25:08,364
and it was Trump this
and it was Trump that.
1975
01:25:08,494 --> 01:25:09,495
Live like Trump, be like Trump,
1976
01:25:09,626 --> 01:25:10,757
make a comeback like Trump.
1977
01:25:10,888 --> 01:25:13,282
[crowd exclaims]
1978
01:25:13,412 --> 01:25:16,415
- WrestleMania was
a crucial stepping stone
1979
01:25:16,546 --> 01:25:18,809
on Donald Trump's path
to the Oval Office.
1980
01:25:18,939 --> 01:25:21,464
- Donald Trump's gone through
five bankruptcies.
1981
01:25:21,594 --> 01:25:23,118
- He's certainly
persona non grata
1982
01:25:23,248 --> 01:25:24,335
in New York and
the United States,
1983
01:25:24,467 --> 01:25:26,338
so where does he go?
1984
01:25:30,516 --> 01:25:32,779
- Donald Trump wasn't
gonna do nuance.
1985
01:25:32,910 --> 01:25:36,087
- Our current president
came out of nowhere.
1986
01:25:36,218 --> 01:25:39,003
- No one is prouder to put
this birth certificate matter
1987
01:25:39,134 --> 01:25:40,787
to rest than the Donald.
1988
01:25:40,918 --> 01:25:41,962
[laughter]
1989
01:25:42,093 --> 01:25:43,964
♪
1990
01:25:44,094 --> 01:25:46,880
- Donald Trump wants to win
at everything he does.
1991
01:25:47,011 --> 01:25:48,839
- Politics will never
be the same.
1992
01:25:48,969 --> 01:25:52,582
- There has been nothing
like this before.
1993
01:25:52,712 --> 01:25:54,627
♪
140716
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