On July 1, 1965, Trump purchased Coney Island's recently closed Steeplechase Park for $2.3 million, intending to build luxury apartments. The next year, he announced plans for a enclosed dome with recreational facilities and a convention center. At a highly publicized ceremony in September 1966, Trump demolished the park's Pavilion of Fun, a large glass-enclosed amusement center. He reportedly sold bricks to ceremony guests to smash the remaining glass panels, which included an iconic representation of the park's mascot, the "Funny Face". The next month, New York City announced plans to acquire the former park grounds for recreational use. Trump filed a series of court cases related to the proposed rezoning, ultimately winning $1.3 million. After the site laid vacant for several years, Trump started subleasing it to a manager of fairground amusement park rides. Over another decade, the city eventually succeeded in reclaiming the property. Son becomes company president Fred's son Donald joined his father's real estate business around 1968, initially working in Brooklyn, and rising to become company president in 1971. He began calling the company the Trump Organization around 1973. The younger Trump entered the real estate business in Manhattan, while his father stuck primarily to Brooklyn, Queens, and Staten Island. Donald later said: "It was good for me. You know, being the son of somebody, it could have been competition to me. This way, I got Manhattan all to myself." By most accounts, Fred himself had set the family's sights on Manhattan. According to Mary L. Trump, Fred was "intimately involved in all aspects of Donald's early forays into the Manhattan market," and Louise Sunshine (vice president of the Trump Organization from 1973 to 1985) states that Fred was "behind [Donald] in every way, shape and form [including] financing of these developments". In the mid-1970s, Donald received loans from his father exceeding $14 million. In 2015–16, during his campaign for U.S. president, Donald claimed that his father had given him "a small loan of a million dollars" which he used to build "a company that's worth more than $10 billion". An October 2018 New York Times exposé on Fred and Donald Trump's finances concludes that Donald "was a millionaire by age 8", and that he had received $413 million (adjusted for inflation; $483.6 million in 2023 currency) from Fred's business empire over his lifetime, including over $60.7 million (unadjusted for inflation; $163.9 million in 2023 currency)