No one would question the value of the Trump name. The mega mogul has spent decades not only building his empire, but constructing his last name into a worldwide brand that earns respect at its mere mention. Since his offspring have graduated into respected business minds in their own right, the value of the name Trump has increased exponentially.
This week a U.S. Bankruptcy court delivered confirmation of just how valuable it can be to have those five letters stamped on a business. Trump Entertainment Resorts in Atlantic City was up for a bid to be taken over by billionaire Carl Icahn for the hefty price tag of $486 million, which would include a forgiveness of the property’s debts. Instead, Judge Judith Wizmur sent down a 121-page ruling in favor of The Donald and his $225 million proposal that would reduce the debt of three of his properties—Trump Plaza, Trump Taj Mahal, and Trump Marina—by $1.4 billion. The reason behind the judge’s ruling? The tremendous weight that the Trump name carries. In an article in the Philadelphia Inquirer, source after source commented on and compared the Trump brand value. As Ronn D. Torossian, president and chief executive officer of 5W Public Relations L.L.C. said in the article, “Trump is to real estate what Louis Vuitton is to fashion.” Amir Korangy, founder and publisher of The Real Deal, added, “It’s like having the name Awesome. . . .”
In addition to Trump’s many projects in and around the New York area, his name is also stamped on the Trump International Beach Resort/Trump Grande Ocean Resort & Residences in Sunny Isles, Florida, a project that Michael and Gil Dezer—members of our Haute 100 list—are closely involved in developing.