Good evening, from Gotham in New York, a town symbolic of our guest. Donald Trump is back in a big way and there is so much to talk about: business ventures and other things. Let's start right from the top. Marla and you. Oh, why did... The great love story! Why do I think that was going to be your first question? What happened? Well, Marla is just a wonderful woman and Ivana is a wonderful woman. I mean, I have been lucky enough to be married to two wonderful women. But in life, of course -- you don't know about this, Larry -- but in life, sometimes it doesn't work out, and I don't blame anybody, it just sort of didn't work out. I'm a very busy guy, and I blame myself in that sense, because I really spend a lot of time working and doing what I love to do. And it just didn't work out in this particular case. The stories about it arriving just before pre-nup was going to run out, time, true? Well, those stories are inevitable, and today you have to have a pre-nup. And I did have a pre-nup that terminates at a certain level and I would not want to see that happen. I am a big pre-nup believer, even though they are nasty, terrible documents, I mean, I am a big believer in that stuff. They don't have to be that if they are worded well. You could treat with respect. Well, you are not going to sign one for your next, and I don't think you... Who said that? I thought that was the rumor going around. No. What I mean is, it depends on how they are done, right? That's true. And you are -- what about children, though? Well, I'm really blessed because I have four fabulous children. And they are all doing well. My little Ivanka is now in Paris. She's becoming a supermodel. Tough life. Yes, tough life. But she has done great, and all of my children are doing great. And the baby with Marla? Fabulous. Tiffany. And she is.. Do you get to spend much time with this business of yours? I would love to spend a lot more time, including with Ivana or with Marla or with whoever I... You are still friends with both? I am very friendly with both. I get along with them both. Somebody said, do you think Marla will sue? And I said, well, she said she would never sue, but that was during the marriage. Now, let's see what happens. Do you like, frankly, being single again? I do. I think maybe it is better suited to me. I think it's unfair -- a lot of times, it's unfair to be married to Donald Trump. I'm so busy with what I do. I am always out of New York, I'm all over the place. And I think it very hard for a woman. I mean, there are a lot of assets there, too. But I really think that it is very difficult for a woman to be married to me. I think my business has typically come first. Now, maybe someday I'll meet a woman that, all of a sudden they say, Larry, I don't want to deal with buildings, I don't want to deal with deals... Now, you can do both. It happened to me. You could do both. Well, maybe, I hope that at a certain time I'm going to be able to do both. But I have been very busy, and I think that is unfair to Marla, and it was very unfair to Ivana. Marla is still going to be involved in show business, though? I think so. She's got a lot of talent. In fact, I'll tell you something, she has a lot of talent and I think I hurt her in one sense. Everybody expected or thought that anything she got, she got because of me and that she wouldn't have -- basically, she would not have talent for that reason. The fact is, she went on, she did a great job in the Will Rogers Follies. A fabulous job. She even got good reviews, and they hated like hell to give her good reviews, but there was no choice. She's got a lot of talent. Ivana also -- you have married two talented women. Proved herself a very talented businesswoman after you left, right? She's special. She did better in the marriage than she did in her business, but she still did. You know, she... She's no jerk. She's really a terrific woman, and she's no jerk. And I guess the only problem I had with Ivana, she made a cottage industry out of -- you know, when you get divorced, and here is how you do it, folks. The bottom line is, marry a rich guy and have a big check written. Because it really does help. You know, I don't if she can relate to the people that are in Boston. They get divorced, and they have the kids in another state, and the husband runs away, and you know, they get no money. But, I thought she played that too heavy, even on your show. I mean, she played it very heavy. You know, follow me and I'll teach you how to do it. The fact is that I was very generous at a very bad time in my life. Because around 1990 and '91 -- I mean, the real estate markets were crashing. I was down, and I gave her a very big check in order to protect her and the children at a very, very bad time in my life. The worst financial time ever in my life, and hopefully it will continue to be forever in my life. Were you happy to see her next marriage go? No, I wasn't happy. I was actually very sad. I thought that -- I was hoping that that would work. You know, she has an amazing ability to build up her man. And that's a very positive thing. I mean that in the most positive way. She sure did him. When she was married to me, she thought I was the end- all, and when she was married to him, she thought he was the end-all. And I really think that's a tremendous trait in a woman. They really make you feel good about yourself. I ask that because he was stepfather to your children. That's right. And so you are involved in that. And from all I heard, he was very decent to my children, and if he wasn't, I would have called out a big mat... You wish them both very well? To remarry would not bother you? I really do. I didn't really know Ricardo, but I really do. And I just hope it works out for both of them. I hope it's not going to be too messy. Have you enjoyed the aspect -- enjoyed, maybe a poor choice of words -- of your personal life being public. Well, it is so different from -- I'm a businessman, and I walk into a... But you're an up-front businessman. This is your first interview in a while. Well, it is. Actually, probably... Long time. Five years, a long time. I have watched Ivana being interviewed and saying what a bad guy I was. And I have watched Marla being interviewed and saying, actually, what a good guy I was at that time, because we were married. But you... Her next interview, she will say... What kept you away? And now you are... I have really sort of been focused on, really, my work. I have always had an amazing ability to make money, but I took my eye off the ball around 1989, 1990. I was having a good time. I was doing things that maybe I shouldn't have been doing. I was all over the world. Playing. I was playing. And I guess, maybe, I would really be angry at myself if I allowed that to happen again, but I don't think I will. But around 1989, I just took my eye off the ball. I relied on all my geniuses that worked for me from the Warden School of Finance and from the Harvard Business School, and they didn't have the touch and I'd be in Paris, or I would be... So the buck does stop with you. No, it does. I really now have a group that's tremendous. I have a man, Nick Ribis, who works for me and some other people who work for me. And some other people who work for me. Did you go -- dislike -- the fact that you got so well known in the '80s. You were almost a symbol of the '80s. That your personal life at the same time got well known. Well, I think it did. But I have sort of always been somehow into the media. I don't know why. And the media has always covered me. I don't do it consciously, but somehow the media has always covered me. And I have always said because the deals I have done have always been -- and I was young and I was this and that, but when I built Trump Tower right next to Tiffany on Fifty-Seventh and Fifth, and it's this great building that's a landmark building now. And I'm doing that and, you know, now Larry, as you probably have read and found out, I mean, I've had the best business year I have ever had. We're going to talk with that. We'll be right back with Donald F. Trump. Have to tell you who he is, you live in another planet. Maybe even if you live on another planet, you could tune in. We'll be right back. Don't go away. [Commercial Break] We're back with Donald Trump -- so much to talk about and we're going to cover it for the full hour. Mike Tyson -- friend of yours? Well, he is and so is Evander. I mean, they are both friends of mine. You were there? I was there. Shocked? Well, I was really surprised to see what happened. Mike is a rough guy and Evander is a great fighter. And, you know, the thing with Evander -- they say The Real Deal And also, he never was -- low blows -- never -- he never had one thing wrong in the ring, right? I've -- I've had a lot of... I don't think he's had a round taken away. I've had a lot of Mike Tyson fights and nobody can understand it. Actually, he's relatively a clean fighter as that world goes. Yeah. And you know, you listen to him and he said Evander was butting him and everything else, but the fact is that a butt in boxing is terrible, but it's allowed in a sense. They'll take something away... You're a fan as well as a promoter, right? Well, I'm a fan, but I'm a fan because it's great for my casinos. I mean, I do a lot of fights. I have a lot of... But you like boxing, don't you? I love it. I love it. You go to the fights? There's something about, you know, one on one. You can't blame the guard that didn't pull in an 11-man team, and you can't this or that. You know, it's just... There's no one to blame. ...two guys sitting in the ring and it's... They get up and bam. ...pretty vicious. Right, now do you want to promote him in another country, is that true? No, no, no. Somebody called up and actually from CNN and they wanted to hear whether or not I'd be willing. And I said that, you know, if an opportunity -- I think he certainly is a draw. He's an unbelievable draw to this day. Given this, he is boxing's draw. He really is. He still is boxing's draw. You know, I predict what will happen is that he and Evander will probably fight a third time and it will be bigger than even the second; that was a huge event. Now, it ended sadly, but it was a huge event and the folks that put it on really -- you know, they really did a good job, but the fight ended in a very tragic way. Do you expect Mike to get help and to come back in a year different and they'll let him fight again? I think Mike will be back in a year and he'll be fighting again and he's going to do very well. But he's got to take care of himself during this intervening period. I mean, he's got -- you know, he's really not as young now. You start hitting that 30 and you're getting old for a fighter, despite George Foreman, who goes on forever. You're just getting old for a fighter. And it was a very sad thing to see. And, you know, Evander came out and did really well. Mike was doing well for that final 30 seconds before this event. All of a sudden, he really looked like the old Mike. In the third round, yeah. In the third round -- he looked like the old Mike. In fact, he may have won that round. Well, I don't know what happened, but he was doing unbelievably well. The first two rounds, he looked lethargic and Evander was doing great. And then Evander was doing great at the beginning of the third. But all of a sudden, Mike went crazy like the old Mike. And, I mean, you know, in boxing that happens to be a good thing. He went wild, and it just -- it just didn't work out. Would you want to promote Holyfield-Tyson? Absolutely -- I mean, it's -- it's... Where would you want it -- Atlantic City? In Atlantic City, probably. Would you vie with Vegas for it? Well, we have. I mean, I've had, I guess, more Mike Tyson fights than anybody. I've had a lot of Evander Holyfield. Vegas has become the boxing capital of the world, hadn't it? Well... They call it... It's a boxing -- it certainly is. It's a great place. Vegas has had some -- couple of very bad months, as you probably heard, and Atlantic City is doing well. Atlantic City's really doing unbelievable. So you would get in a bid with Don King or whoever to hold this fight? Sure -- Don King -- I deal with him a lot on different fights. And I would certainly love to have a rematch. Now, I don't know that Evander would do it. I don't see a big upset other than economic, which is... Just economics -- yeah. But I don't see any upside other than pure economics. He'd get it -- that's his only huge pay day, though? Well, no, Evander could have a huge pay day with Mike Tyson in the third fight. So, you know, when you say you don't see an upside, but the economics, that's a pretty big upset, but... Big bucks. ...the fact is that Evander, in my opinion, he's a great fighter. People don't realize how... ...how good he is. ...good the Real Deal is. I mean But Mike has drama, right? Mike has an unbelievable charisma and -- I mean, some bad things happened to Mike and I think his incentive left and some of his ability may have left and certain things happened that were terrible that, you know... Do you like dealing with Don King? I think Don King is much different than people really think. Have you ever had a bad financial time... I've never had a problem with him. I mean, you have to know how to deal with Don King, in all fairness... He's a good negotiator, I would guess. He's a great negotiator and I've never had a problem with Don King, and he's a much different guy -- people -- I told this to somebody the other day -- he calls his wife in Cleveland four times a day to say, hello, how are you doing? Is everything OK? And outside of the microphones, he is totally a quiet guy. Nobody believes it and... And a generous guy... And he's a generous guy and he's a good guy. So, he's never had a welshed deal with you or any kind of thing that he backed off... I have never a problem with Don King -- ever -- and I've dealt with him a lot. So, you'd be right in the war to host Tyson-Holyfield Three. Whatever happens. I mean, I think if I were Evander, I wouldn't do it. But... Yeah. I think it will probably happen. You mention Vegas. Why have you never built there? I never saw the economics in terms of what you had to pay to get in. Looks like it's booming. It -- well... If you land there -- they're building on top of building. Well, that's part of the problem. That's one of the reason's I'm not there, because I don't like what's happening. I see, you know, they've had a terrible June. They're having a terrible July. There's too much construction. There's a lot of things happening. So, we're going to just see what happens. And I'm sitting with a lot of cash and we're going to just see. And at the appropriate time, maybe we'll go and maybe we won't. You might? Yeah, oh sure, I would like to go there. But... Just a few years ago... I don't like going -- I don't like going at the height of the market. I like going at a little different level. Burn out, broke? Buy low, sell high. It's -- it's pretty basic when you get right down to it. We'll be right back with Donald Trump and lots more to come. Dan Rather tomorrow night. Don't go away. [Commercial Break] Before we get into the world of business, couple other things I -- I just neglected to cover. When is the divorce final from Marla? Well, there's not a divorce now. We separated... There's a pre-nup -- does it just go in? Yeah, it should be very simple, but of course, somebody will always tell her a lot of nonsense. You worry about that? No, I'm just... Some lawyer saying, hey, Marla... Well, I'm basically paranoid to start off with, but I assume that some lawyer will tell her that she can get more and everything else. She's -- she's very decent. I always assume the worst. But she's a very decent woman. I doubt -- I mean, there shouldn't be litigation. It should be very cut and dry. You want to take care of your daughter, though? Absolutely, I take great care of my daughter and good care of Marla. What about the Palm Beach story? What's with that building? Well, the Mar-a-Lago is become the most successful club in the United States. It's a club, now? Yeah, I took a house that was really much to big for a house and over a period of about three years, I was able to get the zoning with the town of Palm Beach, to convert it to a club. And it was not easy to get, believe me, this zoning. And I've created what's called the Mar-a-Lago Club. And it is the most successful club, I think, now in the United States. Do people stay there? People stay there. People this -- we have the best spa. You join the club -- you pay a fee? We have -- you pay a fee. We have the best spa. We have the best everything. Now, it's a relatively small deal compared to the Trump Taj Mahal or Trump Plaza. I know, coming up to New York -- starting south... But it's just a great thing. It's something I'm really proud of. It was built by Marjorie Merriweather with the Post. They spent close to $20 million and E.F. Hutton That was a pretty good marriage. Pretty good marriage -- didn't last long... I know. ...but it was really a good marriage. It was a hot marriage for a period of time. Economic. But he was the hot guy in the world and she was the richest woman in the world and they built this unbelievable house -- really, there's nothing like it in this country. And I was able to -- it's got 128 rooms, 110,000 square feet. It's a huge piece of land, right in the middle of the richest community, which is Palm Beach, and I was able to get it converted and it's been a pleasure. Doesn't have your name on it, though, right? I thought I'd low-key one. Story in the paper, today, that you're thinking about taking -- in order -- helping peace night, Miss Universe, which you own that pageant. Right. And -- and Marla was on that pageant, right? And she did an excellent job. And will you have her come back? That's a very -- that might be the toughest question you ask. I don't -- I don't know that she would want to come back at this point. I mean, when you're -- when you're over, you're over. I believe strongly in that. Are you taking it to Jerusalem? I think we might. Jerusalem wants it very much -- Israel, basically wants it very, very much. This would be next... This would be next year -- next March or so. Israel really wants it badly. Venezuela wants it. Many, many countries want it. You know, the Miss Universe pageant is by far the biggest and most important of the beauty pageants. I bought it recently -- a year ago or so -- and it's been a tremendous... Used to be owned by a bathing suit company, right? It was and I... What's the plus for you? Is it a profit maker? Or is it a promotional... You know what? It's -- it's been -- it is number one, it's a profit maker but it's -- and it's again, like Mar-a-Lago -- it's not a huge business or anything for me, but it's -- it's cute and I love it and of course, looking at, you know, 97 gorgeous women isn't the worst thing in the world. What happens is I'll probably -- we'll probably make a deal with Israel to do it on their 50th anniversary. They really want that. It's next year. Oh, that would be wonderful. And then Hong Kong in the year 2000 -- really wants it -- they're already putting in... So, it looks like Jerusalem will be a go. I think... That's their 50th anniversary. I think that, that's probably where it's going to go. Have you been there much? I have -- I was there once. It's terrific. Great place. Yeah, it's terrific. It's amazing, actually. Ever sorry you went into Atlantic City? No, Atlantic City... Even with the downs you had? Well, no, Atlantic City really saved me. I'm having the best year I ever had. I would've never probably gotten here without Atlantic City, because when the real estate market in New York crashed -- and it crashed -- Atlantic City was throwing off these huge cash flows in the early '90s. Because if you didn't have it... Oh, forget it. I mean, I -- you wouldn't be interviewing -- or you maybe interviewing me, but how does it feel to be under a rock, you know? No, Atlantic City was a great thing for me and it continues to be a great thing for me. When... Trump Taj Mahal is number one in Atlantic City. Trump Plaza is number two in Atlantic City. Caesar's is number three, so, you see all the fighting going on for Caesar's, and yet I have two places that are beating out Caesar's and everybody else. Are people trying to buy Caesar's? People are trying to buy Caesar's. Oh, I didn't know that. Yeah, they're really trying... When -- are you trying to sell one of your properties? I now put one of them up for sale. And somebody said, why? I mean, it's doing huge business. Which one? It's doing record -- Trump Plaza. It's doing record business. But they said -- just like I just sold my piece of the Grand Hyatt Hotel in New York, which I built and it's sort of sad, you know, you hate to sell... That was your land mark. Well, I loved it. That was your baby. And it's beautiful. I built it on 42nd Street. I just sold it. I got a huge price. I sold it to Hyatt. They managed it, right? And everyone said, why did you sell it in good times. I said, that's why I sold it, because I've also been there in bad times and you don't sell at bad times. Who's buying Trump Plaza? We have a lot of interest from a lot of different people. Merrill Lynch is handling it and we'll see what happens -- if I get the right price, I'll sell it. More with the incredible Donald Trump after this. [Commercial Break] We talked about Miss Universe. Your daughter's going to host Miss USA? Well... What are you -- Trump looking to take over everything? What is it? What is it you want? It's life. Slow down. Well, you know what it is -- it's life. We have to enjoy it. And that's probably why my relationship suffers. But the fact is that I have a daughter that's spectacular and we have -- I bought what's called -- you know, I say this jokingly, but they actually call it this -- the triple crown of beauty. I bought it with CBS, who have been terrific. So you're partners in Miss USA? I'm pageant -- I'm partners -- and so we have Miss USA and Miss Universe and Miss Teen USA and Miss Teen USA is coming up in a few weeks and Ivanka is going to be the hostess of Miss Teen USA. That's going to be in Texas, and that's terrific. She wants to do it, so... Back to Atlantic City -- are you still taking on the Indian reservations? Well, I take them on and I guess... Some thought you were -- that was a little ethnic... Well, they thought it was ethnic but it wasn't ethnic. It's just that I always felt they should pay taxes. I think what's happening is... Because they have gambling casinos in which they don't have to pay tax, right? They have gambling casinos... ...Indian's property. ...where they're paying no tax and every politician knows it's not appropriate or not right, but they haven't done anything about it yet. But don't you think we owe them something? I think we do. I think to a certain extent, we do, if they're real Indians. I mean, you have to check and see whether or not they're the real Indians. You know, you have... You're questioning that, Donald? No, no, you have to see who's running the casinos. And you know, I made a statement, they don't look like Indians to me. And everyone said, oh, what a terrible statement. I said, what's wrong? They don't. If you take a look at these folks, they don't like Indians to me. And then, actually, a number of shows did a story that my statement was 100 percent correct. I never liked to apologize and there's no reason to apologize. But I think the Indian casinos are -- you know, they're being looked at very seriously. Are you going to buy into that? No, I don't... Can you buy into an Indian casino? You can, but you're only there for seven years. I have a lot of great relationships with the Indian casinos, now... Oh, you do? The fact is -- yeah, I really do. I mean, I have very, very good relationships with a lot of the Indians and a lot of the Indian casinos at the high levels. And we'll what happens on that. What's their most successful one? The one in Connecticut? Probably the one in Connecticut and that's almost -- you know, I wonder about this, but it's actually been an asset to Atlantic City because it's so close to Boston and people from Boston are now going down to Atlantic City, because Atlantic City is doing tremendous business. So, it's been... When is Atlantic City going to built up? Well, as you know... We talked about this for years and it still remains basically hotels and a run-down area. Right, if you were there in the last year, you'd see it's a whole different place. Haven't been there. They just opened -- they just opened the new convention center. They just opened a new airport. Oh, they did? Oh, yeah, the areas -- the blighted areas that you saw a number of years ago are all ripped down -- for the most part ripped down. And as you know, every major casino company is dying to come it. Oh, that's the hot place, now? Atlantic City is the hot place. Do you want that? Do you like competition? Some people say competition's great. If four restaurant's are on a corner, they're all doing well, I want the fifth. Right, I like it. I like that the fact that they're coming in -- Mirage wants to come in. Circus Circus wants to come in. Boyd Gaming wants to come in -- lot of other companies -- MGM wants to come in. You got no problem with that? Sun wants to come in. Doesn't that help? I like it. No, I mean, it's good. I have the best locations. I have -- I have, you know, I was there first. I have all the best locations and they want to come in, and you know, I look forward to competing with them, but the fact is the market will get bigger and stronger and I think it'll do even better than it does right now. How many hotels -- I mean, what can this hold? How much more can it take? Well, it has a huge population base because, you know, you're surrounded by New York and Pennsylvania and Virginia... Bigger -- much bigger than Vegas? And really much bigger and actually Atlantic City -- the thing that most people don't know, that Atlantic City -- the twelve hotels in Atlantic City do more business right now, than the entire Las Vegas strip and nobody knows that -- by a substantial amount. You're kidding. And that includes Mirage and MGM -- all the big hotels. Atlantic City... Atlantic City does more business than the entire Las Vegas strip and very few people know that. We'll be right back with more of Donald Trump, don't go away. [Commercial Break] Back with Donald Trump. Before we talk about New York, your town and its revitalization. And the crime down, and what's going on here. Everyone's talking about Versace. Did you know Gianni Versace. Yes I did. In fact, he used Mar-a-Lago to do his major shoot with Madonna as the model and that was about a year ago. Was he as nice as everyone said? He was as nice and I knew him and I know his sister very well, Donatella. And I can't imagine how something like this could happen. When you hear about something like this and you mention you watched last night and we are talking about Gavin de Becker and security and he works with people like yourself -- celebrities. Do you get nervous? You are a celebrity. You know what I do, I'm very much a fatalist and I have my problem with stalkers. I have one right now, sort of. Really, male or female? Male. And I have -- you know, it's a problem, it's a real problem. I have great guys. I have like the best guy right here and I have just a great group of guys and it's all you can do. And then after that, you know you can't totally change your life. You can't lead a miserable life because of it. It's unbelievable what happened to Versace. John Kennedy once said if someone wants to get you and that's all they think about, you're in trouble. True. Absolutely true, and they don't have to be smart, they don't have to be this. They just want to get you and what you can do is you can take precautions and you can surround yourself with some very tough people. And you can do certain things but you know, ultimately, it's a problem. You gotta be aware? You have to be aware. Do you worry about New York -- you gotta worry about everything, right? Well, you know, Rudy Guilliani has done a tremendous job as mayor of New York and the crime rate is way down. It's not even on the charts any more, as you know. New York is one of the six... One of the six cities. ... and it's -- he's done an incredible job, this mayor, and you know, I feel very safe in New York and I can't say that I felt that way a number of years ago. New York City is a hot city. It's a hot city from the real estate standpoint but I think one of the reasons that New York is now the hottest city in the country in terms of heaty -- not the heat from the sun -- is the fact that it's really a safe place to be. Gianni Versace should have felt safe in South Beach, the Riviera of the west... Oh, he should but South Beach has a lot of problems. I mean, South Beach is not a safe place to be and it hasn't been a safe place to be and they do have crime rates that are very high and it's still wild, it's great. But I'm not sure you want to live there necessarily, and he found out. But I think if he were some place else the same thing would have happened if this was the mission of this man. So Trump the fatalist has to be aware and give thought to the Cunanans. There are Cunanans out there. I am aware -- you have to aware otherwise you're a fool, but again I don't think you can change your entire life. You're not going to go into a very safe little place and just lock the door and never come out. I just don't think you can do that. And I am a fatalist. I say hey, what happens, happens, and maybe it's predestined, who knows? It's a terrible thing that happened. OK, in New York. What's going on economically? It is doing unbelievable. It's a boom town, as you know, very well. Is this a pendulum thing? It is. It's always... Goes up or down. Houston's down, Houston's up; Boston's down, Boston's up. New York's now up. It does. New York is up. I mean I'm in a lot of other cities. I have real estate in a lot of other cities but I've never seen -- including Los Angeles -- I've never seen a city as hot as New York is right now. I just built a new building, Trump International Hotel and Tower and it's almost sold out before we've opened... The restaurant to do for. That restaurant, you got a four star rating in the New York Times by John George. Can you even get in? You cannot even get in. It's over a year wait to get in. That was a site of what? What was on that site? That was originally the Gulf and Western Paramount Building -- Paramount Pictures. And basically we ripped it down -- and General Electric, Galbraith, myself -- we ripped it down right to the steel and rebuilt it as a super luxury building called Trump International Hotel and Tower. And it has been some tremendous success. Right at Central Park West. Yes. So, this art of the deal continues in you, right? Well, for me it continues. I mean again I got back to basics. Now I have a much bigger, stronger company than I had in the '80s, but I had to go back and just go back to work. All right. Wall Street Journal did a profile of you Well, you know, Larry, I've always been able to make money. I've always made a lot of money, even at a very young age and I think that had I focused in 1989 or '90, I would have never had the difficulties where -- you know, that everybody else had. I mean, a lot of people had those difficulties but I think I would have probably got through it a lot easier without having to work so hard. I really just went back and I focused and I went back to the basics and I did a lot of things myself and I have a great group of people around me, and I got rid of some that were stiffs... All right, was there a turnaround event? Turnaround year? Yes I think the turnaround event was around 1991 when I was in really deep -- you know, some people say I had $8.8 billion of debt. That's a lot of debt, OK? Now I also had huge assets ... Were you in bankruptcy? No, I never went bankrupt and I was really proud of that. You lost the airline though, you lost the boat? Oh no, I sold the airline. I sold the boat. I sold a couple of things that were unimportant. And I have now far more assets than I had then, which is hard to believe. Now I have 40 Wall Street, the 72-story building on Wall Street which is one of the great buildings in New York. I own the Empire State Building. I own a lot of different things that I never owned then. I mean, it's just been an amazing period of time and actually I give a lot of credit to the early part where I was indeed troubled and of course, I had a wife that was suing me for billions of dollars. You know, she was saying you're worth five billion dollars, I just want half. And I ended up fighting and I ended up -- actually the prenuptial agreement -- you know it was held and that was that. But I had a -- you know, a lot of it was quite nasty and the way she went after it ... But you turned it around? It's now better than ever before. It's been amazing actually. For me it's been a lot of fun. Dan Rather tomorrow night. On Friday night we'll give you a preview of the sale of the property of the Duke and Duchess of Windsor. And Saturday night, Harrison Ford. We'll be right back. [Commercial Break] By the way, speaking of Duke and Duchess of Windsor, will you ever bid in an auction like that? Are you a collector? I would love to go and see it. I would love to go and see it. Well, we're going to have a preview here Friday night. Come over, we'll show you the things. You're a sharp business man, come over and we'll show you. I'll take a look. You've worked with a lot of consortiums, right? You mention Mr. Galbraith, you worked with the Japanese et cetera. Is there, for want of a better term, secret, when you have partners? Well, I think -- I mean, I do a lot of it myself and I also have partnerships. I have fabulous partners in Hong Kong who probably are watching your program right now but... Japan too. ... I have tremendous new world, Henry Chang and Vincent Lowe and a lot of the great people from Hong Kong are my partners, on the biggest job ever approved by the New York City Planning Commission, that I'm building right now in New York City. Which is? It's called Riverside South -- temporarily, at least -- it's called Riverside South. On the west side? On the west side, along the west side highway... That's why you wanted to get the Yankees to go? Well, no, no, not actually, that's down in a different site but it actually looks like the Grand Coulee Dam is being built. We have more cranes and more people working there than... What is it going to be, offices? ... six thousand units of housing overlooking the Hudson River, right behind Lincoln Center. And that's Hong Kong partners? And where I have Hong Kong partners, they're terrific. I'm doing a deal opposite the United Nations with Daewoo which is a tremendous company from Korea. They have Korean partners. General Electric is my partner... How do you get the Korean partner? This fascinates. You know, what really happens -- and it's a little bit like what happens with you -- if you call up to do an interview they say, OK, we'll do it. If somebody else calls up, one of your competitors, they'll say forget it. Nobody watches, nobody cares. I mean generally speaking. People really seek me out. I have the hottest name in the business. I'm the biggest developer now in New York by far... So you get the call from the Korean interest? We want to do... I get the call, we want to do a job or even sometimes they bring the land. Usually I bring everything. I have the land, I have the this, I have the that -- but they want to be my investor, they want to be my partner and the reason is we're just hot. I mean we're doing great and everybody likes Trump and it's one of those things. Is real estate in the long run always good? Some people contend that no matter where you are, if you've got property, sit, you'll be OK. Well, I think good real estate is always good. Great real estate is always, always good. But good real estate is always good, eventually and there's something there... How do you know what's good? Well, that's what the key is. I mean you have to know where and what. Like Trump -- I mean, Trump Tower hasn't gone down from the day I built it. You know you have the dips in the market but ... The gold building on Fifth Avenue. That is a great building and to this day, I mean it was -- like I said the casinos during the early '90s were great to me but the fact is Trump Tower was just chugging also, and it's been a great building from the day I built it. Was it sad to sell the Plaza? It wasn't and I own a piece of the Plaza. We're going to be... But you don't run it as you used to run it? The Plaza Hotel, it was a great sale at the time I did it and I was really lucky to be able to have sold it for the kind of money because these were the building blocks to coming back and to doing what I've done. And I did sell that and it worked out tremendously for me and everybody else and now we'll probably do something with the Plaza on the top. The people that I'm involved with are very nice people and I think you're going to see some interesting stuff coming out of the Plaza. But I owned 100 percent of the Plaza and now I own a much smaller portion but it worked out sort of great for me because it was a lot of money at that time. Back to the Grand Hyatt which you sold. That made the Trump name initially in New York didn't it? That beautiful building on 40 -- that was a spectacular new concept in a run down area and then suddenly, boom? Well, it made that whole part of the city boom and the Grand Hyatt Hotel was my first baby. That's what I meant. We did the convention center in New York and then I did the Grand Hyatt. Usually people -- I remember Ted Turner once said, I may sell a lot of things but CNN is going to be my baby -- Time Warner is still his baby. One thought that was your baby. Well, the Grand Hyatt I sold recently in very good times for a huge price. I sold the Hyatt and... Everything's price, Donald? Yes. In that case it was yes. I wasn't married to the Grand Hyatt. I'm married to Trump Tower I guess. Like Ted would be married to CNN, my thing would be Trump Tower next to Tiffany. That really is the building that's very special... Even though Grand Hyatt was the first? Well, Grand Hyatt was the first but I wasn't married to it. I got a price that was a good deal for me and a good deal for Hyatt. They were really happy to get it but... No emotional ties? There was no real emotional ties -- a little bit. I mean, anytime you build something and you put your guts into something for a number of years and you build this beautiful product, and it was a big success from the day I built it and it rejuvenated that whole section of New York. It was a tremendous thing but, no, I was never married to that. There I was married to a good price and I got a good price. Trump Tower would be the thing I'm really married to in terms of real estate. Back with more of Donald Trump, don't go away. [Commercial Break] The Art of the Deal -- that was -- are you going to write another book? I have one coming. It just happens that Random House is doing it. It is called The Art of the Comeback. Not a bad title. And a lot of people have gone through a lot of turmoil and they can't figure out how to come back and so it's coming along. Good idea. The world's getting smaller. Hong Kong is now part of China. Did you invest in Hong Kong? Yes. Hong Kong is hot. You would invest in it. But I would only invest if I had somebody with me. One of the great people of Hong Kong. Because it is a special place. It is a special business, it is a whole different set of circumstances. And it is too far away. So I wouldn't do it if I was going to be hands-on and do it myself because it is just too far away. So, have you dealt with the Chinese? Yes. Someone said a hand shake is a deal with the Chinese and they never welsh. I have found that New World and Vincent Lowe and Henry Chang have been among the most honorable I have ever dealt with. And they are my partners on the big West Side Railroad Yard Development. So if they called you to go in there... Yes, I would invest, but I would want them to run that investment like I run this investment. What was your biggest mistake? Not personally, business- wise. I really think that my biggest mistake was that I did not focus. I really don't think there was an individual... No one project. No. You know the beauty with my -- unlike at Canary Wharf where they poured billions of dollars in England into this job and it was just wasted. My job is real solid. They came due -- one or two of them came due at a bad a time. But that was OK. They worked out Trump Palace on Third Avenue and Sixty-Ninth -- a beautiful job. It came out, it was a big success in the end. But it finished at a very bad time, during the crash, essentially. Because, you know, New York, and even this country was in a depression. Not a recession, it was a depression. Beat George Bush. And don't let anyone ever tell you -- beat George Bush is right. And it was an absolute disaster. And I think my biggest problem wasn't any specific job, because they were all solid and good jobs. My biggest problem was that I did not focus, I was having a good time and I was enjoying life. We have asked actors and actresses, are there roles they feel sorry they didn't take? Is there anything you had a chance to buy and didn't buy, and now say, should have bought that. Well, I guess I could say any piece of real estate in Manhattan, because real estate in Manhattan has gone through the roof, OK? So, you could almost say anything. Anything you turned down. Anything. No kidding. But the fact is, I'm really -- look, I'm the biggest real estate developer in New York, by far. And I am the biggest casino owner in Atlantic City, by far. So I can't really say, gee, I should have done this or that. Were you ever offered like, a building in Chicago that you thought about, didn't do, and now its. Well, forget New York. A building in Dallas. I don't like to look back. I don't think you can look back. You know, Alan Greenberg, the head of Bear Stearns is a tremendous guy. Great guy. He's an incredible guy. He is one of the great traders of all time. And Alan once -- the only argument I ever had, I sold the stock and I made a lot of money and I called him back two days later because the stock had gone up after I sold it. I said Allen, why did we sell, we should held at -- and he went nuts. He said, you sold the stock, forget it, that stock is dead. And I realized, he's right. You can't look back, you just have to look forward and learn from the past, but you really have to look forward. Ever interested in a sports team again? I think that it is a very tough business for the owners. It seems to only make money when you sell. Other than a Georgetown- bred, who I have to tell you, you talk about underrated, this guy has done such a great job with the Yankees and he never gets the credit that he deserves. Every year he is right there, knocking at the door, and I remember the Yankees before George had them. When they were owned by somebody else. And I will tell you that they were in last place every year. Might he move them? I don't think so, I think George is a great fan of New York. He is a great friend of Rudy Giulliani and I don't think he would do that because I think it would hurt Rudy very badly. Ah, but Wilpon and Doubleday and the Mets. Terrific guys and they are doing a great job. This town is doing well in every way. You like Giulliani? I think he is terrific. He has done -- he has been a great, not a good man, he has been a great man. He is favored tremendously. Well, he is favored. What about Governor Pataki? Terrific man. A wonderful guy and he has been a great governor. Because you were friends with Governor Pataki, too? And by the way, you know me, I will tell you if I think differently. I am not just saying this -- everyone is watching this saying, oh, well he is just like... What about Bill Clinton? You have criticized presidents before and you have done well with Bill Clinton. I really respect -- this guy has got to be the toughest guy to take the kind of abuse that he has taken. Can you imagine going home to Hillary on a nightly basis with the kinds of things being said. I mean, just -- he has got to be the toughest guy there is. Yet you have done well with him, right? You know what? It is very hard when the economy -- it is like I said to you at the very beginning. My company is much bigger, much stronger, much more powerful. Some of that has to do with the economy. How are you going to be mad at the president? It is very tough. He has done a good job. We'll be back with our remaining moments with Donald Trump. Don't go away. [Commercial Break] Couple of quick things: You own a riverboat casino on Lake Michigan? How is it going? Right. It is doing great. Where is that, in Gary, Indiana? Right outside of Chicago and Indiana and it has been just doing fantastically. It is amazing. Why is gambling so popular? Well, it has become very strong. In certain markets. It is almost a form of voluntary taxation, but it in certain markets, like in the Indiana area right outside of Chicago, it has been very strong. In some areas, it hasn't been strong. Atlantic City has been good. Las Vegas, obviously, has been good over the years. But this Indiana location has been phenomenal. But it is spreading everywhere, isn't it? It's spreading to a lot of places. But not as many places as you think. It is not coming to New York, it is not coming to Florida, it is not coming to Pennsylvania, where they all thought, you know, those were three places, if you were to say, three, four years ago, is it coming? Everybody would have said yes. It is actually hard to get gambling off. But it is in a lot places, we will see. We discussed crime being down. Is the Mafia still a factor in New York? I don't think it is a big factor in New York. I think it is always going to be -- I always thought it was built up more than it probably should have been. You never had a deal with them? No, You were going to protect your building, that old cliche out of the '40s? No, I haven't. I guess that is one of the, probably, assets of being a celebrity in a sense, because they don't want to deal with celebrities, the last people they want to talk. But I have not found it to be a factor. What is, in all of this -- how old are you? Fifty-one. Can you believe this? I used to be the youngest guy and now I am 51. Regrets, I have had a few, the song goes. That's right. Biggest regret? I have no regrets. I really have none. I have had an incredible life, I have learned a lot. I probably learned more during my downtime, during my bad time, financially, than I ever learned before. I learned that there were some great loyal people and I have learned that there were some people that could have been more loyal. And those people I have discarded totally and do whatever I can to. Any business that intrigues you? That you haven't gone into? I love the creation of building great buildings. I love -- I have a friend who makes a lot of money putting cable in the ground, OK? He is a very rich man. Puts cable in the ground. And he walked into Trump Tower the other day, and he said, you know, Donald, there is something about, look at this building. You don't want to put cable in the ground. He said, you know, nobody even knows I put the cable, we cover it up and that is it. I make three cents a foot and I am a rich guy. But the fact is, there is something really creative, it is my art. Do you want to make movies? I don't think so, no. I will leave that to Ted Turner and some other people that do it much better. Thanks, Donald, as always. Thanks for coming back here. Donald Trump, the comeback kid. Thanks very much for joining us. Dan Rather is with us -- with us tomorrow night. With Dan, it could be either one. Have a lot of laughs. And Friday night, the Duke and Duchess of Windsor and Donald may buy something. Saturday night, Harrison Ford. Thanks for joining us. From New York, good night.