The Rise and Fall of William Levitt: A Real Estate Legend Remembered by Trump
During his commencement address at West Point, President Donald Trump highlighted the story of real estate mogul William Levitt, emphasizing the importance of maintaining momentum in life.
William LevittReal EstateMomentumWest PointDonald TrumpReal Estate NewsMay 24, 2025
Trump recounted how Levitt, after building a massive fortune, faced a series of personal and professional setbacks. “He became a very rich man,” Trump said. “He took a tremendous amount of money, got divorced, and found a new wife, could you say a trophy wife? It didn’t work out too well.” Levitt's decision to sell his business, get divorced, and marry a younger wife ultimately led to a loss of his edge and his fortune.
According to Trump, Levitt later repurchased his former company but ultimately went bankrupt. “‘I’ve lost my momentum,’” Trump recalled Levitt saying. “I used to have it, but I lost it.” This anecdote served as a cautionary tale about the importance of maintaining focus and momentum, even after achieving significant success.
Who Was William Levitt?
William Jaird Levitt (February 11, 1907 – January 28, 1994) was a pioneering American real estate developer, often referred to as the father of modern American suburbia. As president of Levitt & Sons, he revolutionized post-World War II housing by creating affordable, mass-produced homes for returning veterans. His most famous project, Levittown, was built on nearly 20 square miles near Hempstead, Long Island, and became a blueprint for suburban developments across the United States.
Levitt’s contributions to American housing earned him national recognition. In 1998, Time magazine named him one of the “100 Most Influential People of the 20th Century.” His innovative approach to building homes on a large scale and at a low cost transformed the American landscape, making homeownership accessible to millions of families.
Levitt’s Personal Life
Levitt married Rhoda Kirshner in 1929, and the couple had two sons, William Jr. (born 1932) and James (born 1944). After divorcing in 1959, Levitt married Alice D. Kenny, his long-time mistress and an interior decorator at Levitt & Sons. He adopted her two daughters from a previous marriage. In 1969, that marriage also ended in divorce. Levitt later married Simone Korchin, a French art dealer, marking his third marriage.
Despite his personal challenges, Levitt's legacy in the real estate industry remains significant. His ability to mass-produce affordable homes laid the foundation for the modern suburban lifestyle, influencing urban planning and housing policies for decades to come. Trump’s reference to Levitt’s story serves as a reminder that success is not just about achieving wealth but also about sustaining the drive and momentum that brought it.
Frequently Asked Questions
Who was William Levitt?
William Jaird Levitt (1907-1994) was a pioneering American real estate developer known as the father of modern American suburbia. He revolutionized post-World War II housing by creating affordable, mass-produced homes for returning veterans, most famously through the Levittown project on Long Island.
What was Levittown?
Levittown was a large suburban development built on nearly 20 square miles near Hempstead, Long Island. It was one of the first planned communities and became a model for suburban developments across the United States, providing affordable housing for returning World War II veterans.
Why did Trump mention William Levitt in his West Point speech?
Trump mentioned William Levitt to emphasize the importance of maintaining momentum in one's life. He highlighted how Levitt, despite building a massive fortune, lost his edge and ultimately went bankrupt after personal and professional setbacks, including divorce and a new marriage.
What were some of William Levitt's personal challenges?
William Levitt faced several personal challenges, including multiple divorces. He divorced his first wife, Rhoda Kirshner, in 1959, and later divorced his second wife, Alice D. Kenny, in 1969. His third marriage to Simone Korchin, a French art dealer, also contributed to his personal and professional struggles.
What is the legacy of William Levitt in the real estate industry?
William Levitt's legacy in the real estate industry is significant. His innovative approach to building affordable, mass-produced homes transformed the American landscape, making homeownership accessible to millions of families. His work laid the foundation for modern suburban development and influenced urban planning and housing policies for decades.
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