Good Buy Wall Street
The Bank of Manhattan Building was originally located at 40 Wall Street in New York City. Completed in April 1930, it was the tallest building in the world until surpassed by a spire attached to the Chrysler Building one month later. In 1982, the building was sold to Ferdinand Marcos, former president of the Philippines. When Marcos was removed from office in 1986, his assets in the U.S. were frozen and the building was abandoned. Neglected for years, 40 Wall Street was bought by Donald Trump in 1995 and renamed — you guessed it — The Trump Building.
In the fourth season of The Apprentice, Trump claimed he only paid one million dollars for the building with a current value of more than $400 million! Today’s Wealth Wake-up Call is this: Wealth is created on the buy. Regardless of what people have to say about Donald Trump’s hairstyle, anyone with business sense must respect his business acumen. After all, according to Forbes, The Donald has a net worth of nearly four billion dollars.
Everyone who follows Donald Trump has heard the one-liner, “Buy low and sell high.” Most have never heard a related and perhaps most profound Donaldism. It goes like this: You make your money when you buy; not when you sell. The Bank of Manhattan Building proves his point. How can you lose after paying only one million for a seventy-story skyscraper located on Wall Street in New York City.
Even though he still owns the building, you can be assured that Donald Trump has used the $400 million asset as leverage to make further real estate deals. So the fortune was made when he bought the 40 Wall Street building, not when he sold it! Never forget that the intelligent investor understands that wealth is created when you buy, not when you sell.
Now go out there and create wealth!
