During his speech to the Boy Scouts of America on Monday, President Trump bragged about spending time on yachts and recounted a story about meeting real estate developer William Levitt at a cocktail party with “the hottest people in New York.”
Speaking to the massive crowd in West Virginia, Trump described a yacht party he attended where he saw Levitt after the developer had suffered several failed business endeavors.
At one point, Trump told the Boy Scouts he couldn’t recount part of his story because it was not suitable for the young children.
“I won’t go into any more than that cause you’re Boy Scouts,” Trump said, hinting at an orgy as Death & Taxes noted. “So I’m not going to tell you what he did.”
Trump tells kids at Boy Scout Jamboree about his friend who got tired of yachting, lost his $$ & a NY cocktail party https://t.co/VbNRcRVpgB
— Bradd Jaffy (@BraddJaffy) July 24, 2017
Below is a transcript of Trump’s motivational and highly relatable speech to the Boy Scouts:
THE PRESIDENT: I’ll tell you a story that’s very interesting for me when I was young. There was a man named William Levitt — Levittowns, you have some here, you have some in different states. Anybody ever hear of Levittown? (Applause.) And he was a very successful man. He was a homebuilder — became an unbelievable success, and got more and more successful. And he built homes, and at night he’d go to these major sites with teams of people and he’d scour the sites for nails and sawdust and small pieces of wood. And they’d clean the site so when the workers came in the next morning, the sites would be spotless and clean, and he did it properly. And he did this for 20 years, and then he was offered a lot of money for his company.
And he sold his company for a tremendous amount of money. At the time especially — this was a long time ago — sold his company for a tremendous amount of money. And he went out and bought a big yacht, and he had a very interesting life. I won’t go any more than that because you’re Boy Scouts, so I’m not going to tell you what he did.
AUDIENCE: Booo —
THE PRESIDENT: Should I tell you? Should I tell you?
THE PRESIDENT: Oh, you’re Boy Scouts, but you know life. You know life. So — look at you. Who would think this is the Boy Scouts, right?
So he had a very, very interesting life, and the company that bought his company was a big conglomerate. And they didn’t know anything about building homes, and they didn’t know anything about picking up the nails and the sawdust and selling it — and the scraps of wood. This was a big conglomerate based in New York City, and after about a ten year period they were losing a lot with it. It didn’t mean anything to them, and they couldn’t sell it.
So they called William Levitt up and they said, would you like to buy back your company, and he said yes, I would. He so badly wanted it, he got bored with this life of yachts and sailing and all of the things he did in the south of France and other places. You won’t get bored, right? You know, truthfully, you’re workers. You’ll get bored too. Believe me. (Applause.) Of course, having a good few years like that isn’t so bad. (Applause.) But what happened is he bought back his company, and he bought back a lot of empty land. And he worked hard in getting it zoning, and he worked hard on starting to develop.
And in the end he failed, and he failed badly. Lost all of his money. He went personally bankrupt, and he was now much older. And I saw him at a cocktail party, and it was very sad because the hottest people in New York were at this party. It was the party of Steve Ross who was one of the great people — he came up and discovered — really founded — Time Warner, and he was a great guy. He had a lot of successful people at the party.
And I was doing well so I got invited to the party. I was very young, and I go in — but I’m in the real estate business — and I see 100 people, some of whom I recognize and they’re big in the entertainment business. And I see, sitting in the corner, was a little old man who was all by himself. Nobody was talking to him. I immediately recognized that that man was the once great William Levitt of Levittown, and I immediately went over — I wanted to talk to him more than the Hollywood show business communications people.
So I went over and talked to him, and I said, Mr. Levitt, I’m Donald Trump. He said I know. I said, Mr. Levitt, how are you doing? He goes, not well, not well at all. And I knew that, but he said not well at all. And he explained what was happening and how bad it has been and how hard it has been. And I said what exactly happened? Why did this happen to you? You’re one of the greats ever in our industry. Why did this happen to you? And he said, Donald, I lost my momentum. I lost my momentum. A word you never hear when you’re talking about success. When some of these guys that never made ten cents, they’re on television giving you things about how you’re going to be successful, and the only thing they ever did was a book and a tape.
But I’ll tell you, it was very sad, and I never forgot that moment. And I thought about it, and it’s exactly true. He lost his momentum. Meaning, he took this period of time off long — years — and then when he got back, he didn’t have that same momentum. In life, I always tell this to people, you have to know whether or not you continue to have the momentum, and if you don’t have it that’s okay. Because you’re going to go on and you’re going to learn and you’re going to do things that are great. But you have to know about the word momentum.
But the big thing: Never quit. Never give up.