Aug 13, 2014, 11.58 AM | Source: CNBC-TV18

Believe in using laws of land to my advantage: Donald Trump

Trump says in early 1990s, he saw many a successful people or businessmen filing for bankruptcy, but he was never one of them. "I believe in using the laws of the land to my advantage," he adds.

Outspoken American business magnate, investor, television personality and author Donald Trump, president and chairman, Trump Organisation, loves his work. That is what drives him the most. It is not the lure of the lucre, but the love for the job, he says.

In his 20s and 30s, the only thing he thought about was massive success and now at 68-years of age and after seeing 'massive success', he says success is about happiness. “Financial success definitely makes life easier. But I know many financially successful people who are miserable in their lives – every aspect of their lives. I don’t consider them truly successful,” he told CNBC-TV18’s Shereen Bhan.

Also Read: India's FDI rules tough, yet keen to invest: Donald Trump

Trump says despite the tough times that he has seen in his life or career, in early 90s, he saw many a successful people or businessmen filing for bankruptcy, but he was never one of them. He says he used bankruptcy laws to his advantage to bargain great deals. “I believe in using the laws of the land to my advantage,” he adds.

In 2010, Trump expressed an interest in becoming a candidate for President of the United States in the 2012 election. Later in May 2011, he said he would not be a candidate. Even now, he hasn’t completely ruled out joining politics or running for presidency.

Trump very obviously is not a fan of US president Barack Obama. He does not think Obama should have won a second term in office.

Below is the verbatim transcript of Donald Trump's interview with CNBC-TV18's Shereen Bhan

Q: Let me start by quoting you back to you. I think this was in your book ‘Think Like a Champion’, you said, "Champions think big, champions work in a big time way." I also heard you say this morning that you are a lot more conservative or you have learnt to be a lot more conservative. How is the new conservative Donald Trump thinking champion like or thinking in champion big time way today?

A: Over the years you do somewhat become a little bit more conservative. I have had a great career, it has been amazing. In the 1980s it was good, now it’s better than it has ever been. The company is bigger and stronger, you see the numbers, it has been an amazing thing and we are here today in Mumbai doing a spectacular job. We are really happy about it but over the years as you have great victories and a couple of defeats and hopefully there are only minor defeats you learn to be a little bit more conservative.

We have built up tremendous cash reserves and lots of other things. When I was in my 20s and 30s I wasn’t thinking about cash reserves.

Q: What were you think about then?

A: I was thinking only about massive success. I did not care about anything. As you get older you realise that sometimes the old expression cash is king and sometimes that is true but it certainly makes your life a lot easier. In the early 90s when the markets collapsed, the real estate markets collapsed - many of my friends and many of my enemies they went bankrupt and they were gone, never to be seen again. Most of them never to be seen again. I fought through it, I never went bankrupt.

Q: But you did file bankruptcy?

A: I never filed bankruptcy. Over the years I have had individual – it is a funny thing about that, I would buy a company and throw it into a chapter and negotiate a great deal and people would say Trump went bankrupt and it was crazy.

We have had a couple of companies like everybody else, you look at Carl Icahn, Henry Kravis, Leon Black, you look at so many different people and they have all used those laws to their advantage. Unfortunately, when I have used them, it is Trump fail through it, no I never went bankrupt.


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