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How Much Is Trump the Art of the Deal Book Worth

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Book by Donald Trump and Tony Schwartz

The Art of the Deal
Trump The Art of The Deal, cover, first edition.jpeg
Author Donald J. Trump
Tony Schwartz
Country U.s.
Language English
Subject area Business organisation
Publisher Random Business firm

Publication date

 November i, 1987
Media type Print (hardcover and paperback)
Pages 372
ISBN 0-394-55528-7
Followed by Trump: Surviving at the Tiptop (1990)

Trump: The Art of the Deal is a 1987 book credited to Donald J. Trump and journalist Tony Schwartz. Part memoir and function business concern-advice book, it was the commencement book credited to Trump,[1] and helped to make him a household name.[two] [3] It reached number ane on The New York Times All-time Seller list, stayed there for 13 weeks, and altogether held a position on the list for 48 weeks.[4] The book received additional attending during Trump'due south 2016 campaign for the presidency of the United States. Trump cited information technology every bit one of his proudest accomplishments and his second-favorite volume after the Bible.[5] [6]

Schwartz called writing the book his "greatest regret in life, without question," and both he and the book'south publisher, Howard Kaminsky, declared that Trump had played no role in the actual writing of the volume. Trump has personally given conflicting accounts on the question of authorship.[4] [7]

Synopsis [edit]

The volume talks near Trump'due south childhood in Jamaica Estates, Queens. It and then describes his early on work in Brooklyn prior to moving to Manhattan and building The Trump Organization, his deportment and thoughts in developing the Grand Hyatt Hotel and Trump Tower, in renovating Wollman Rink, and regarding diverse other projects.[viii] The book as well contains an 11-step formula for business success, inspired by Norman Vincent Peale'due south The Power of Positive Thinking.[9]

Development [edit]

Trump was persuaded to produce the book past Condé Nast owner Si Newhouse subsequently the May 1984 consequence of his magazine GQ—with Trump appearing on the embrace—sold well.[ix] [10] Announcer Tony Schwartz was recruited directly past Trump later he read Schwartz'due south extremely negative 1985 New York Magazine article, A Different Kind of Donald Trump Story, regarding his failed attempts to forcibly and illegally evict rent-controlled and rent-stabilized tenants from a building that he had bought on Central Park South in 1982.[4] To Schwartz's amazement, Trump loved the article and even had the cover, which had an unflattering portrait of him, autographed by Schwartz and hung in his office.[4] Schwartz was hired to write the book for $250,000 upfront; Trump assigned him half of the royalties.[4] Schwartz later admitted that his motivation was purely fiscal. He needed the money to back up his new family.[eleven]

According to Schwartz in July 2016, Trump did non write whatsoever of the book, choosing only to remove a few critical mentions of business colleagues at the end of the process. Trump responded with conflicting stories, proverb "I had a lot of selection of who to have write the book, and I chose Schwartz", just then said "Schwartz didn't write the volume. I wrote the volume." Former Random Business firm head Howard Kaminsky, the book's original publisher, said "Trump didn't write a postcard for us!"[4] The book was published with the authorship given as "Donald Trump with Tony Schwartz". In 2019, Schwartz suggested that the work be "recategorized equally fiction."[12]

To inform the content and fashion, Schwartz drew on the already-substantial archive of news, profiles and books about Trump every bit well equally interviews with Trump associates. When interviews with Trump himself proved unproductive, the two struck on an unusual alternative: Schwartz listened in on Trump'due south office phone calls for several months to witness the dealmaker in action.[4] The experience was condensed into chapter ane, "Dealing: A Calendar week in the Life," which introduces the reader to countless boldface names and events. The chapter was excerpted in New York Magazine to promote the book[13] and served every bit a blueprint for future autobiographies.[14]

Schwartz was the discipline of a July 2016 article in The New Yorker in which he describes Trump unfavorably and relates how he came to regret writing The Art of the Deal.[4] He also stated that if it were to be written today it would be very different and titled The Sociopath.[4] Schwartz repeated his self-criticism on Good Morning America, saying he had "put lipstick on a pig."[15] In response to these claims, Trump'south attorneys demanded that Schwartz cede all his royalties from the book to Trump.[sixteen] [17]

Publication and promotion [edit]

The Art of the Deal was published in Nov 1987 past Random Firm. A promotional entrada was undertaken in conjunction with its release. This included Trump holding a release political party at Trump Tower, hosted by Jackie Mason, featuring a celebrity-filled guest list.[nine] There were a series of appearances by him on television talk shows.[xviii] Trump also appeared on a number of mag covers equally part of publicity for the book.[xviii]

Ii months earlier publication, in a more than cynical bid to promote the book, Trump waded into national politics.[19] [20] [21] On September 2, 1987, working with his publicist, Dan Klores, and long-running political interlocutor, Roger Rock, Trump ran total-page ads in major newspapers excoriating Washington for defending allies on the American taxpayers' dime. On Oct 22, he spoke to a New Hampshire oversupply nether the aegis of a "Draft Trump" movement. Of the spoken language, Trump said in early 2016, "I wasn't even thinking about [running for president] ... It was a lot to do with my book."[22] "He didn't run," gloated Klores, "but it was probably the greatest book promotion of all time."[21]

Excerpts from the book were published in New York magazine. The book has been translated into over a dozen languages.[9]

Royalties [edit]

Trump and Schwartz had an agreement to split royalties from the sale of the book on a 50–fifty basis.[23] [24]

In 1988, Trump set upwards the Donald J. Trump Foundation to give away the volume'southward royalties, in Trump'south words, promising four or five million dollars "to the homeless, to Vietnam veterans, for AIDS, multiple sclerosis".[23] [24] Co-ordinate to a Washington Post investigation those promised donations largely failed to materialize; the paper said "he gave less to those causes than he did to his older daughter'south ballet school".[24] The Washington Postal service asked the Donald Trump 2016 presidential entrada if Trump had donated the $55,000 of royalties he had earned from the book in the get-go six months of 2016 to charity, as he promised in the 1980s, and it did not respond.[25]

By 2016, Schwartz said he had received some $1.6 1000000 in royalty payments.[23] Schwartz said he would be donating 6 months of royalties (worth $55,000) to the National Immigration Law Center, which advocates for immigrants to remain in the United States regardless of whether or non their entry was legal. Schwartz had earlier donated royalties he received in the second half of 2015, worth $25,000, to a number of charities including the National Immigration Forum. Schwartz said he wanted to help the people Trump was attacking.[25]

Financial disclosures by Trump for 2018 revealed the volume earned over $ane million that twelvemonth, and information technology was the only title of his dozen-plus authored books that made money.[26] Trump'south fiscal disclosures for 2019 reported royalties for The Art of the Deal in the $100,000 to $i million range.[27]

Book sales [edit]

Precise figures of the number of copies sold of The Art of the Deal are unavailable because its publication preceded the Nielsen BookScan era.[18] It had a first printing of 150,000 copies. Several magazine and book accounts country that it sold over 1 million hardcover copies[9] or one million copies.[iv] [28] A 2016 CBS News investigation reported that an unnamed source familiar with the volume'due south sales placed the effigy at 1.1 million copies sold.[23]

Trump said in his 2016 presidential campaign that The Art of the Bargain is "the No. 1 selling business concern volume of all time". An analysis past PolitiFact constitute that other business concern books had sold many more copies than The Art of the Deal. While it is impossible to notice exact sales figures, a range of possibilities based on known claims and facts were given. When compared to half-dozen other famous business concern books, The Art of the Deal ranked in fifth identify according to the analysis; the pinnacle-selling book, How to Win Friends and Influence People, outsold it by a gene of 15 times.[18]

Reception and legacy [edit]

At the time of publication, Publishers Weekly called it a "boastful, boyishly disarming, thoroughly engaging personal history".[29] People magazine gave it a mixed review.[1]

Iii years later, announcer John Tierney noted Trump "appears to take ignored some of his own advice" in the book due to "well-publicized problems with his banks".[xxx] Trump's cocky-promotion, best-selling book and media glory status led ane commentator in 2006 to call him "a affiche-child for the 'greed is adept' 1980s".[31] (The phrase "Greed is proficient" is from the film Wall Street, which was released a calendar month after The Art of the Deal.)

Jim Geraghty in the National Review said in 2015 that the book showed "a much softer, warmer, and probably happier figure than the human being dominating the airwaves today".[5]

John Paul Rollert, an ethicist writing about the book in The Atlantic in 2016, says Trump sees capitalism not every bit an economic system but a morality play.[32]

The volume coined the phrase "truthful hyperbole" describing "an innocent form of exaggeration—and... a very effective form of promotion". Schwartz said Trump loved the phrase.[33] [34] In Jan 2017, the phrase was noted for its similarity to the phrase "alternative facts" coined by Counselor to the President Kellyanne Conway when she defended White House Press Secretary Sean Spicer's widely derided statements about the attendance at Trump's inauguration every bit President of the United States.[35] [36] [37]

In 2021, Yuri Shvets, an ex-KGB amanuensis, claimed that Trump had been cultivated by the KGB for xl-years, starting in the 1980s equally tensions between the United States and Soviet Union were thawing. In The Art of the Deal, Trump acknowledges the potential business opportunities arising from the positive turn in the relationship between the U.S. and the Soviet Union which includes the possibility of edifice "a large luxury hotel across the street from the Kremlin in partnership with the Soviet government." Information technology was during this period that the ex-KGB amanuensis alleges to have discussed with Trump going into politics and were "stunned" when he returned to the US and took out a total-page advert parroting anti-Western Russian talking points.[38]

Questions of veracity [edit]

Biographers, assembly and fact-checkers have cast doubt on the book's version of events. To those with detailed cognition of the projects, the singular hero of the book appeared instead equally a fictional composite of the many power-brokers, doers and domain experts who actually fabricated things happen. This omniscient persona faced exaggerated odds and won overstated profits. As biographer Gwenda Blair wrote in 2000, "In The Art of the Deal, [Trump] claims that business organisation deals are what distinguish him ... merely his most original creation is the continuous self-inflation."[39] Withal, those tracing out Trump'southward life could not discern the more limited reality all at once. Speaking twenty years later, Blair bemoaned her failure, equally a biographer, to have "understood how fabricated [the book] was ... how that founding myth was so riddled with at best exaggeration."[40]

Chapter four, "The Cincinnati Kid," tells the story of Trump'south "first big bargain."[41] According to the book, Donald came up with the thought of buying Swifton Village, a struggling apartment complex in Cincinnati. He partnered with his dad to plow Swifton effectually, then, just as the neighborhood headed irretrievably downhill, tricked a buyer into overpaying: "The toll was $12 million—or approximately a $6 million profit for us. It was a huge return on a short-term investment."[42] Roy Knight, function of the Village's maintenance crew, told reporters that the projection was actually Fred Trump's "infant";[43] biographers by and large agree. Donald was cloistered at New York Military machine University when his father boarded a airplane to Ohio and won the holding at auction. He attended college while Fred turned things around.[44] The young scion did visit on occasion but just to exercise "yardwork and cleaning."[45] Finally, the sale price was a mere $6.75 1000000, $1 one thousand thousand more than than the buy price, representing piddling if any profit after eight years of expenses (estimated at $500,000) and involvement.[46] [47]

Chapter half dozen, "Chiliad Hyatt" tells the story of Trump'south true first big deal. Without it, the book opined, "I'd probably exist dorsum in Brooklyn today, collecting rents."[48] In his 1992 biography of Trump, journalist Wayne Barrett, who had covered the project in detail, took event with many of the book's claims. In particular, he noted the absenteeism of most all the key players—from New York governor Hugh Carey, a longtime Trump-family crony, to city planners betting their careers on the novel private-public partnership, to Trump's omnipresent number two, Louise Sunshine (herself Carey'southward former chief fundraiser). "In The Art of the Bargain," Barrett wrote, "information technology was every bit if Donald walked out onstage alone."[49]

Chapter vii, "Trump Tower," opens with a fully-hatched program. "In order to put upwards the edifice I had in heed," Trump takes u.s. through his thinking, "I was going to take to assemble several ... adjacent pieces—and so seek numerous zoning variances."[fifty] George Ross, one of Trump's lawyers on the project and later his lieutenant on The Apprentice, seasons 1-five, recalled the procedure differently. Where Trump depicted himself expertly pouring over his "air-rights contract" and "discover[ing] an unexpected bonus,"[51] Ross wrote: "I enlightened Donald nearly the zoning laws that permitted ane owner to sell and transfer unused building rights (commonly chosen air rights)."[52] [a] One key step involved the next Tiffany store. "Unfortunately, I didn't know anyone at Tiffany," Trump wrote, "and the owner, Walter Hoving, was known not just as a legendary retailer but also as a hard, demanding, mercurial guy."[53] Nonetheless, the tyro cold-called Hoving and tricked him into a 1-sided deal. Per Ross, however, the transaction was aboveboard and owed entirely to Trump's well-connected elder: "Donald'southward father and Walter Hoving had done some business organisation together and Donald's father suggested to Donald that he could work out a fair deal with Hoving in a short menses of time."[54]

Based on Trump'due south tax returns betwixt 1985 and 1994 which showed a loss greater than "nearly whatever other private American taxpayer" during that period,[55] co-author Schwartz suggested that the volume might be "recategorized every bit fiction".[12]

Film and Boob tube [edit]

In 1988, Trump and Ted Turner announced plans for a television film based on the book.[56] The plans had been largely abandoned by 1991.[57]

Marking Burnett, creator of The Amateur, credited the volume for inspiring "his jump from selling T-shirts off racks on Venice Boulevard in Los Angeles to producing television shows," and later, afterward success with Survivor, the idea of a show starring Trump himself.[58] Trump's monologue opened the long-running prove: "I've mastered the art of the deal ... And as the master I want to pass my knowledge forth to somebody else. I'm looking for [pregnant suspension]... The Amateur."[59]

Aspects of the book were used as the footing for the 2016 parody film Donald Trump's The Art of the Deal: The Motion-picture show.[60]

See besides [edit]

  • Bibliography of Donald Trump
  • List of autobiographies by presidents of the The states

Notes [edit]

^a Ross's book opens with an paradigm of his signed copy of Art of the Deal. In it, Trump penned, "But yous and I know how important a part you played in my success."[61]

References [edit]

  1. ^ a b Ralph Novak (Feb 29, 1988). "Picks and Pans Review: Trump: the Art of the Deal". People. Archived from the original on April 21, 2016. Retrieved November 21, 2014.
  2. ^ Bernstein, Robert (2016). Speaking Freely: My Life in Publishing and Human Rights. The New Press.
  3. ^ Ligman, Kyle (May xviii, 2016). "The Trump of Magazines By". The New York Times. ISSN 0362-4331. Retrieved July 18, 2016.
  4. ^ a b c d east f thou h i j Mayer, Jane (July 25, 2016). "Donald Trump's Ghostwriter Tells All". The New Yorker . Retrieved July eighteen, 2016.
  5. ^ a b Jim Geraghty (September 24, 2015). "In The Art of the Deal, Trump Shows His Soft Side". The National Review . Retrieved Apr 26, 2016.
  6. ^ "Donald Trump reveals his favorite book". MSNBC . Retrieved July eighteen, 2016.
  7. ^ Zuckerman, Alex; Farhi, Arden (May 24, 2019). "Trump's ghostwriter says writing "The Art of the Deal" is the greatest regret of his life". CBS News. Retrieved May 24, 2019.
  8. ^ Trump, Donald J.; Schwartz, Tony (November 12, 1987). Trump: The Art of the Deal. Random House. ISBN9780394555287.
  9. ^ a b c d e Timothy 50. O'Brien (2005). TrumpNation: The Art of Being The Donald . Grand Key Publishing. pp. 69–70. ISBN9780759514669 . Retrieved Nov 20, 2014.
  10. ^ GQ. May 1984. Success Issue. Donald Trump, Sandra Bernhard, Bobby Short.
  11. ^ Zuckerman, Alex; Farhi, Arden (May 24, 2019). "Trump's ghostwriter calls "Art of the Deal" the greatest regret of his life". CBS News . Retrieved May 24, 2019 – via MSN.
  12. ^ a b "Trump Ghostwriter Suggests 'The Art Of The Deal' Be Recategorized As Fiction". Huffington Post. May viii, 2019. Retrieved May ix, 2019.
  13. ^ "Trump on Trump: How I Do My Deals". New York. November 16, 1987.
  14. ^ Trump, Donald J.; Bohner, Kate (1997). "Dealing: A Week in the Life of the Comepback". Trump: The Art of the Improvement. Times Books. ISBN9780812929645.
  15. ^ Winsor, Morgan (July 18, 2016). "Tony Schwartz, Co-Author of Donald Trump's 'The Art of the Deal,' Says Trump Presidency Would Be 'Terrifying'". ABC News. Retrieved January 1, 2019.
  16. ^ Fandos, Nicholas (July 21, 2016). "Trump Lawyer Sends 'Art of the Bargain' Ghostwriter a Cease-and-Desist Letter". The New York Times. ISSN 0362-4331. Retrieved July 21, 2016.
  17. ^ "Donald Trump Threatens the Ghostwriter of 'The Art of the Bargain'". The New Yorker. July 21, 2016. Retrieved July 21, 2016.
  18. ^ a b c d Linda Qiu (July 6, 2015). "Is Donald Trump'southward Fine art of the Deal the best-selling business volume of all fourth dimension?". PolitiFact. Tampa Bay Times. Retrieved July 28, 2015.
  19. ^ Harry Injure (1993). Lost Tycoon: The Many Lives of Donald J. Trump. W.Due west. Norton. ISBN9780393030297. Donald'southward desperate search for a way to promote his book onto the best seller list inspired one of the most cynical schemes of his career: the Trump for President campaign.
  20. ^ Gwenda Blair (2000). Donald Trump: Master Apprentice. Simon & Schuster. pp. 138–139. ISBN0743275101.
  21. ^ a b Robert Slater (2005). No Such Thing equally Over-exposure: Inside the Life and Celebrity of Donald Trump. Prentice Hall. p. 163. ISBN9780131497344.
  22. ^ Michael Kruse (February 5, 2016). "The True Story of Donald Trump's Start Entrada Speech—in 1987". Politico.
  23. ^ a b c d "Donald Trump volume royalties to charity? A mixed bag". CBS News. August 11, 2016. Retrieved September 14, 2016.
  24. ^ a b c Farenthold, David A. (June 28, 2016). "Trump promised millions to charity. We found less than $x,000 over 7 years". The Washington Post . Retrieved September 17, 2016.
  25. ^ a b David A. Fahrenthold (October 4, 2016). "Trump's co-author on 'The Art of the Deal' donates $55,000 royalty cheque to charity". Washington Post . Retrieved October half-dozen, 2016.
  26. ^ Katie Galioto, Theodoric Meyer, Andrew Restuccia, and Nancy Melt (May 16, 2019). "Trump'south Mar-a-Lago resort took a financial hit final year; 'The Art of the Bargain' continues to brand coin, just the president'due south dozen-plus other books brought in adjacent to nil — $201 or less". Politico.com . Retrieved May 16, 2019. {{cite web}}: CS1 maint: uses authors parameter (link)
  27. ^ Vasquez, Maegan; Liptak, Kevin (August 1, 2020). "Trump releases 2019 financial disclosure study". CNN . Retrieved August 29, 2020.
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  29. ^ "Trump: The Art of the Deal". Publishers Weekly. December 1987. Retrieved April 26, 2016.
  30. ^ John Tierney (March 6, 1991). "'Art of the Deal,' Scaled-Dorsum Edition". The New York Times . Retrieved November 21, 2014.
  31. ^ James Brian McPherson (2006). Journalism at the Finish of the American Century, 1965-present. Greenwood Publishing Group. p. 101. ISBN9780313317804 . Retrieved November 23, 2014.
  32. ^ John Paul Rollert (March 30, 2016). "An Ethicist Reads The Art of the Deal". The Atlantic . Retrieved April 26, 2016.
  33. ^ Mayer, Jane (July 25, 2016). "Donald Trump's Ghostwriter Tells All". The New Yorker . Retrieved January 25, 2017.
  34. ^ Page, Clarence (January 24, 2017). "Cavalcade: 'Alternative facts' play to Americans' fantasies". Chicago Tribune. Retrieved January 25, 2017.
  35. ^ Micek, John L. (Jan 22, 2017). "Memo to Kellyanne Conway, there is no such thing as 'alternative facts': John L. Micek". Penn Live . Retrieved January 25, 2017.
  36. ^ Page, Clarence (January 24, 2017). "'Culling facts' play to Americans' fantasies". Chicago Tribune . Retrieved January 25, 2017.
  37. ^ Werner, Erica. "GOP Congress grapples with Trump's 'alternative facts'". The Detroit Printing. Associated Printing.
  38. ^ Thomas Colson (Jan 29, 2021). "Russia has been cultivating Trump as an asset for forty years, sometime KGB spy says". Business Insider . Retrieved January 29, 2021 – via Yahoo! News.
  39. ^ Blair & 2000 216. sfn error: no target: CITEREFBlair2000216 (help)
  40. ^ Blair, Gwenda (January xiv, 2021). "'He Was the Ringmaster in the Demise of His Ain Circus'" (Interview). Interviewed by Michael Kruse. Politico.
  41. ^ Trump 1987, p. 56. sfn error: no target: CITEREFTrump1987 (assist)
  42. ^ Trump 1987, p. 63. sfn fault: no target: CITEREFTrump1987 (help)
  43. ^ Christine Wolff (June 22, 1990). "From Swifton Village to Trump Tower". The Cincinnati Enquirer.
  44. ^ Barrett 1992, p. 79. sfn error: no target: CITEREFBarrett1992 (help)
  45. ^ Blair 2000, p. 21. sfn error: no target: CITEREFBlair2000 (help)
  46. ^ Meg Kelly (February 28, 2018). "The alpine tale of President Trump's Cincinnati 'success'". The Washington Mail service.
  47. ^ Gregory Korte (September 1, 2002). "At Huntington Meadows, the Promises Turn Empty". The Cincinnati Enquirer.
  48. ^ Trump 1987, p. 73. sfn error: no target: CITEREFTrump1987 (help)
  49. ^ Wayne Barrett (1992). Trump: The Deals and the Downfall. Harper Collins. p. 148. ISBN9780060167042.
  50. ^ Trump 1987, p. 101. sfn error: no target: CITEREFTrump1987 (help)
  51. ^ Trump 1987, p. 107. sfn error: no target: CITEREFTrump1987 (assist)
  52. ^ Ross, George H.; McLean, Andrew James (Feb 28, 2005). Trump Strategies for Existent Estate. Wiley. p. 220.
  53. ^ Trump 1987, p. 103. sfn fault: no target: CITEREFTrump1987 (help)
  54. ^ Ross, George H. (September 22, 2006). Trump-Style Negotiation. Wiley. p. 226.
  55. ^ Buettner, Russ; Craig, Susanne (May 7, 2019). "Decade in the Blood-red: Trump Taxation Figures Bear witness Over $1 Billion in Business Losses". The New York Times . Retrieved May 7, 2019.
  56. ^ "Turner And Trump Squad Up For A Picture show". Retrieved July 4, 2017.
  57. ^ "Turner's Trump pic is on hold". Archived from the original on Apr seven, 2017. Retrieved July four, 2017.
  58. ^ Bill Carter (January 4, 2004). "The Challenge! The Pressure level! The Donald!". The New York Times.
  59. ^ Timothy L. O'Brien (2005). TrumpNation: The Art of Existence The Donald. Warner Business organization Books. p. 17. ISBN9780446578547.
  60. ^ Zeitchik, Steven (Feb 10, 2016). "Funny or Die 'Donald Trump' filmmakers talk about making the viral parody with Johnny Depp". Los Angeles Times . Retrieved April 11, 2016.
  61. ^ Ross 2005, p. 9. sfn mistake: no target: CITEREFRoss2005 (help)

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Source: https://en.wikipedia.org/wiki/Trump:_The_Art_of_the_Deal

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