From left: Donald Trump. Michael Vadon/Flickr. (CC 2.0 by-nc). Former prime minister of Lebanon Rafiq Hariri in 2002. Robert Ward/Wikimedia Commons. Former primer minister of Thailand Thaksin Shinawatra in 2005. DoD photo by Helene C. Stikkel/Wikimedia Commons
When the Cold War ended neoliberalism triumphed. Deregulation and privatisation buoyed new business empires in real estate, media, finance and telecommunications. After seizing economic opportunities, many of these new business emperors also sought political opportunities. Italian media mogul Silvio Berlusconi, Lebanese contractor Rafiq Hariri, and Thai telecommunications giant Thaksin Shinawatra became prime ministers in the 1990s and 2000s.
These individuals are prominent examples of the new tycoon-politics. They describe themselves as 'self-made men' but their rise had much to do with being in the right place at the right time during deregulation or an oil boom. Trump’s background is similar. He multiplied his father’s wealth through property deals in Reagan-era New York. Debt-fuelled expansion nearly pushed him into bankruptcy in the 1990s. Since 2004 he has concentrated on TV shows and product licensing.
