i'm robert frank. tonight we give you an eye-popping look at donald trump, not his politics or policies, but his lifestyle and world of extreme luxury. we begin with the donald's gold plated highlights. no one know's trump's high flying style better than eric roth. >> you know instantly this is a trump aircraft. >> he hired roth to transform his jet and chopper into two of the most luxurious rides in the sky. >> obviously he likes gold. we certainly put a lot of 24 karat gold into both his boeing, swes his helicopter. >> his 757 has $250,000 worth. >> he made us go through three or four vendors until he finally decided. >> i think when i saw it in gold, it laid the path to where he was going. >> the upholstery costs $400 per yards and includes a very unusual customization. >> he loves oreos. >> trump asked him to give his gold plated sikorsky helicopter the works as well. it took three months and cost around a million bucks. how does trump force one compare to air force one? >> it might seem like a dow

i'm robert frank.t posh properties rs in a building so exclusive cameras rbt evaren't d inside the lobby. we were granted exclusive access inside the $40 million penthouse in the sky. the trump international hotel and tower in new york city soars 52 stories above columbus circle in central park. >> trump proved himself to be a visionary in the mid '90s when he took this building which was a commercial building and turned it into a luxury hotel and condominium. >> real estate broker leighton candler gave us an exclusive look inside a pa lashan penthouse inside on the 44th floor owned by a buddy of the donald we have been asked not to name. >> mr. trump said he would break records selling for 1,000 to 1500 a square foot. not only did it come true, it is a remarkable appreciation in the last 20 years. >> she said initially the condos here weren't such an easy sell. >> something was wrong with the feng shui with this building. he flew an expert in the world to fix it, and they told him to put a sphere outs

robert frank has the details. >> answering one of the central questions after this election. how can the richest man ever elected as u.s. president separate business and financial interests from the oval office? the president of course is exempt from ethics rules, but trump started out the press conference saying he doesn't have to do anything. he passed up billions of dollars in deals since the election to avoid a conflict of interest appearance. >> i have a no conflict situation because i'm president. i didn't know about that until about months ago. it's a nice thing to have, but i don't want to take advantage of something. i can run business and run government at the same time. i don't like the way that looks, but i would be able to do that if i wanted to. >> he announced several steps to sprayed himself from the trump organization. first and foremost, he is stepping down as ceo of the company and will remove himself from operations and strategy. the company will now be run by eric and donald jr., his twos. they will have an ethics adviser to approve all major changes and

is he going to answer that, robert frank? >> reporter: well, yes, he probably will answer that, and his answer will probably be consistent with what he said, which is that he has no formal business relationship with the russians. a lot of other media have pointed out that russians are important clients of his, particularly in the luxury condo sector in new york here demand florida, where the wealthy russians have been major buyers. but the basic, true answer is we don't really know whether there are russian lenders that have lent to the trump organization or any of his projects. we don't really know if there are other partners that are russian in any of his projects because this is a private company. it's a black box with over 100 different legal entities. and so, we won't really know whether russia is truly in business with donald trump or what the relationships are. but we do know that in advance of today, he has worked to clean up his overseas operations. he has severed relationships with brazil, with india, with azerbaija

i'm robert frank.d night. for sale in the u.s., then here's your chance, 'cause our cameras were the only ones allowed inside, but it'll take a quarter of a billion dollars to buy this california dream and the 75-foot infinity pool makowsky: it is a $2-million theater outdoors. frank: what?! next, meet the movie star with the lucrative second career. check out keanu reeves' side gig -- making high-end, hand-crafted, super-luxe two-wheelers that start at 80,000 bucks each. -he breaks things? -yeah. things that nobody else can break. frank: and see why this 35-grand-a-night resort villa

robert robert frank toured president trump's childhood home in queens, new york. its history may now put a premium on its price. >> this is the first place donald trump ever called home. >> he was born in 1946, june 14th. this address was listed on the birth certificate as his home address. >> the modest tudor was recently sold at auction. the winning bid is still undisclosed. the fact that the donald lived here is expected to add a significant premium to the price. >> it went on the market for $1.65 million back in july. some expect it is worth three to ten times the original price now that he is president-elect. >> even the real estate mogul himself suppressed interest in buying it. >> any fond memories from this house? >> well, i have great parents and brothers and sisters. i had a great childhood. >> that's sad to look at that. i want to buy it. >> it was built my trump's father in 1940. >> we're on the second floor of the home now. this could have been the room the president-elect slept in as a child. >> there are five bedrooms and four and a half bathrooms.

robert frank is at trump tower in mid town. did you read all the files today, robert? >> almost.he central purpose of day's press conference is for donald trump to set aside those questions of conflicts of interest over his business. in trumpian fashion, before he got to that he was defiant and said, look, legally because of ethics rules i don't have to do anything. take a listen. >> i have a no conflict situation because i am president. which is -- i didn't know about that until about three months ago, but it's a nice thing to have. but i don't want to take advantage of something. i could actually run my business and run government at the same time. i don't like the way that looks, but i would be able to do that if i wanted to. >> and because of the way that looks and because of the constant headlines, here is what trump announced today to separate himself from his companies. first of all he's stepping aside from management. his sons don jr. and eric will run the company. he'll put his ownership and the assets into a trust. we don't know whether that's an irrevocable trust or wh

our reporter robert frank toured president trump's childhood home in queens, new york, and its historyow put a premium on its price. >> reporter: this is the first place that donald trump ever called home. >> donald trump was born in 1946 on june 14th at jamaica hospital, and listed on the birth certificate as his home address. >> reporter: the modest home was recently sold at auction. the winning bid is still undisclosed but the fact the donald lived here was expected to add a significant premium to the price. >> the home originally went on the market for 1.65 million back in july. some have speculated that the louse is worth anywhere from three to ten times the original price now that he's president-elect. >> reporter: even the real estate mogul himself expressed interest in buying it. >> any fond memories from this house? >> well, i had great parents and i had great brothers and sisters. i had a really good childhood. oh, that's sad to look at that. i want to buy it. >> reporter: the 2,500-square-foot home was built by trump's father in 1940. >> we're on the second floor of the home

robert frank is standing by with the person who made it happen. robert? >> tyler, bruce makowsky became a california real estate developer and set the record for the most expensive home ever sold in beverly hills now a bigger record with the most expensive listing in america, $250 million house. bruce, thanks for joining us. >> how are you doing? boy, am i excited about today. after four long years we're able to unveil this masterpiece. >> 200 man hours. how could it be worth $250 million? what set this is apart from everything else out there in the market? >> first of all, i'm a disrupter. i spent massive amount of time on mega yachts, private aircraft and these boats sell for $2 million, $3 million. i'm personally trying to redefine -- >> you're comparing this more to like a $300 million mega yacht, more comparable to 250 than the house, most expense east of sold in america is like 150, you are a disrupter. everyone out in california said who is this fashion guy from new york? he thinks he can reinvent real estate. what have you seen in this market that

we're bringing that one back with editor robert frank. ceo and washington post owner steve bezos is going to d.c., buying the largest house in washington, in the swanky calarama neighborhood where ivanka trump and the obamas also have homes. he paid $23 million in cash for the 27,000 square-foot textile museum. it was not always so swanky. >> nochlt it's swa. it's swanky now. interesting summer barbecues, obama, ivanka, now jeff bezos. most expensive home ever sold in d.c. and, you know, people just assumed it was one of trump's billionaire friends or cabinet members. and it's really jeff bezos. look at his real estate portfolio. main home in medino. this 27,000 square foot is smaller. one in beverly hills for $24.5 million in 2007, three apartments connected in new york city and people don't know this. he he's one of the largest land owners in the united states with over 300,000 acres. he just bought a texas ranch a couple of years ago. and just a huge land owner. he seems like the kind of guy that wouldn't have a large lifestyle. he has

first, robert frank has made his way to our new set. what do you have going on?e going to look at the year ahead for luxury. lower taxes, lower regulation, a stronger stock market, and a billionaire in the white house that could bring a banner year for the wealthy. also, hidden risks. we'll break down the big money and spending in 2017 after the break. we g- t ttre anything with a screen is a tv. .moeerkrk stream 130 live channels. plus 40,000 on demand tv shows and movies, all on the go. you can even download from your x1 dvr and watch it offline. only xfinity gives you more to stream to any screen. download the xfinity tv app today. >> trading for 2017 will get under way in a little more than an hour. we're opening up the playbook. robert frank has predictions of what you can expect from the luxury sector. >> reporter: with the first billionaire in the white house, biggest tax cuts for the top since ronald reagan, the wealthy will have much to celebrate in 2017. the population of millionaires and billionaires after flattening out in 2015 and the first half of 2

robert frank tells us what it means for real estate prices.rsday january 5, 2017, "squawk box" begins right now. ♪ >>> live from new york where business never sleeps, this is "squawk box." ♪ >>> good morning. welcome to "squawk box" on cnbc. we are live from the nasdaq particular k market site in times square. i we want to congratulate andrew and his wife pilar on the birth of sydney. 7 pounds, 9 ounces. andrew says he will be back with us soon. spend some time with the baby. look how cute. >> coming back tomorrow, i think. theoretically. >> what? >> huh? don't you think? >> isn't there paternity leave here? >> i -- you know, i -- >> don't

the host robert frank joins us from bel air, california. we've been waiting for this.is exclusive look at a $250 million mega mansion. >> this house blows them all away. $250 million. you're wondering what makes a house worth $250 million? we're going to show you. we're going to start here in the it 12,000 square foot entertainment game area. this is like the ultimate billionaire man cave. i mean, start with not just a bowling alley, but four bowling alleys, gold and silver bowling pins, and then a little lounge there with your fur and leather sofas, and then you guys want eye candy? here's eye candy. $250,000 candy wall. how is that for sweet? now, you got foos ball tables and this pool table that's $12,000. we all know the wealthy, they have garages. they like cars. the super rich have auto galleries. this auto gallery has $30 million worth of cars. the fastest most expensive, rarest cars on the planet. this car is $2 million. goes over 230 miles an hour. this -- one of the holy grails t 1936 mercedes. $15 million. you get all of these cars when you buy this house, s

thank you, david. >> robert frank.y, sara, jack maw has also entered trump tower, or at least is said to be meeting with the president-elect. of course, he is the founder of alibaba, speaking of chinese companies. it's one of the largest, by far, of course, certainly the most important when it comes to the chinese consumer and one we follow closely here, having gone public here at the new york stock exchange not long ago. unclear, though, what they might be talking about. mr. ma is certainly -- >> trying to grow the business here, right? >> as we take a look at -- those are not pictures from today. >> stock footage. >> yes, that is stock footage of mr. ma, here on the floor, actually. but yeah, although not much of a presence here in the u.s., he does own a lot of land up in the adirondacks. they are trying to have more of a presence, perhaps, with alibaba here in the tou.s. to a certain extent, but it's not their focus of markets outside of mainland china. >> president-elect trump has made china a cornerstone of his a

our robert frank is there and joins us now with a tour. robert. >> reporter: hey, good morning.h-end real estate market getting increasingly competitive. this house sets a whole new bar! we're going to tell you why it cost $250 million. we're going to start here in the game room. game-entertainment area. this is the ultimate billionaire man cave with a bowling alley, gold and silver bowling pins. talk about eye candy, a $250,000 wall of candy! you've got foosball tables, a $12,000 pool table. now, the wealthy, they have garages. the super rich, they have auto galleries. now, this auto gallery has $30 million worth of supercars and rare collectibles. all these cars come with the house! this $2 million picani comes with the house. this, the holy grail of collectible cars, $50,000 mercedes, that comes with the house as well. this is hollywood, all about glitz and glamour and screens. this house has the biggest screen of any in america, including this, the biggest tv ever put in a home in america. nearly 30 feet long. now, we're going to go upstairs really quick. it's got four floor

you know, hopper and robert frank. >> photographer abelardo morell does some of his best work in the of it. >> first, he blacks out the windows with plastic and duct tape. >> we turn this room into a giant camera. >> inside of a camera. >> the inside of a camera. then when morell cuts a hole in the plastic and puts a lens against the glass something magical happens. the room's view is projected against the opposing wall, upside down. >> you can see that the image is naturally upside down. that's the way optics works. >> the technique is called camera obscura lat tip for darkened room. a thin ray of light casts an upside down image. it's a and predates even photography. it is believed to have been used by renaissance artists like canaletto and vermeer. his photographs brings the outside in. sometimes he flips the projections a prism making the images rightside up. >> you look at the world through different lenses. brings you back to your first experience. everything seems interesting. a little light on the wall. wow. >> if these photographs seem unusual or unexpected it was the surpri

. >> that is a live shot to end all live shots, robert frank. our thanks to you. i'm glad we squeezed that into the end of the hour. good morning. welcome to "squawk alley." with me, jon fortt, kayla tausche here at post 9. dow's down 12 points on a busy day. as you may know by now, at this hour, a number of trump cabinet hearings are under way on capitol hill. congress secretary designate wilbur ross testifying before the senate commerce committee, tom price before the health education, labor and pensions committee. price will also appear before senate finance, which will vote on his nomination. that is scheduled for next week. u.n. ambassador designate governor nikki haley on the hill today as well. we're watching all of that. you heard tom price asking questions about his investments and various health care stocks. wilbur ross answering questions regarding trade, tariffs, some of his own housekeepers that he's had on staff and has now had to fire. so a lot going on tonight. >> yeah, and we also have scott pruitt, who is the designate for the environmental prote

>> stay with me, i got robert frank with something good. see you in a bit.on squawk joe, becky and andrew will be live from d.c. for the inauguration. that starts at 6:00 a.m. eastern time. good lineup, can't wait for tomorrow. elesceork done00 atednto 35arar elesceork doneit ale♪ by mevm ca >>> welcome back. we're now just more than 24 hours away from donald trump taking over of the presidential office. >> he is the richest and america's first billionaire president, even adjusted for inflation forbes, bloomberg and others putting donald trump's net worth at $3 billion or more, but ranking second surprisingly is our nation's founder, check it out. the wealthiest u.s. presidents are at number five, james madison, who would have been worth $101 million at his peak. in fourth, andrew jackson at $119 million amassed largely from real estate on the tennessee frontier. third, teddy roosevelt at $125 million born into a prominent industrial family, he blew his inheritance as a young man before making big money on land holdings later in life. in second place, thomas

robert frank always with animal spirits joining us now. obert, trump making it clear with his comments and through one of his lawyers who went up on stage that he does not feel he has to break ties, but he will turn over the business to his sons, donald junior and eric. >> yeah. we forget the purpose of this press conference before all the russia headlines was to divest trump from his companies so you wouldn't have all those headlines about potential conflicts of interest. but he started that portion of the press conference on a defiant note saying he turned down a $2 billion deal with a dubai investor and friend, and that legally he didn't have to do anything. take a look and listen to what he said. >> so i could actually run my business. i could actually run my business and run government at the same time. i don't like the way that looks, but i would be able to do that if i wanted to. >> here's what he announced. basically he will step down as the ceo and chairman of the trump organization. his two sons, eric and don jr. will run the comp

dolly lentz and our wealth editor robert frank."the wall street journal" says there's too many high-end apartments, that the leasing companies are having to offer all kinds of inducements from free parking to no security deposit to free rents. >> absolutely. there's too many units and that's what happens, right? it levels off. they'll offer a few months of rent. you signed a lease at the higher amount. nobody has to know you got free rent. very interesting how that's all handled. free gym membership, all kinds of things. >> we're seeing the continuation of what i call the great inversion in the luxury housing market wherefore years during the recovery the low end was weak and the high was strong. now it's completely flipped where in manhattan the strongest part of the market is the 1 to $2 million apartments. >> which is the low end. >> the low end. that's crazy. but the 5 million plugs is super weak. and what happened is all the developers in 2014, 2015 started building these massive overpriced towers that are now coming online, 3

robert frank is here with a look at the five wealthy presidents in history -- does anybody come even to trump? >> they come closer than i thought and donald trump is unlike any president before him in so many ways including his extreme wealth. here's a look at he compares to his presidential president sesser in terms of his personal will finances. >> the we will will thinkiest u.s. presidents are at number five, james madison who would have been work $101 million at his peak. fourth, andrew jackson at 119 million bucks. emassed largely from real estate on the tennessee front tear. third, teddy roosevelt at 125 million. born into a prominent industrial family he blew his inheritance as a young man before making big money on land holdings later in life. in second place, thomas jefferson at 212 million. his five thousand acre plantation was an extravagant project at the time. it was also one that would deplete his fortune once he left the white house. our nation's wealthiest president until now, george washington who at his peak was worth $525 million. impressive but still more than 3 b

robert frank is here to tell us why. >> trump organization has just doubled the membership fee that it costs to get into the m mar-a-lago resort. after the election of donald trump that fee jumps to $200,000. you have to pay $14,000 a year in membership fee as well as $2,000 a year in food and beverage costs and the fee in 2012 actually had been $200,000. they cut it to $100,000 falling the financial fallout from the bernie madoff scandal which claimed a lot of wealthy palm beach victims. they are now going back to that $200,000 number. you know, even though it probably had been considered for some time, guys, this will add to some sort of speculation and critics that say that donald trump's family is benefiting because of the trump name. >> we don't doubt that a lot more people want to join now, right? >> of course. >> because they'll have -- >> this is the winter white house. trump has been there twice since the election and will be there several times during the winter. he loves it there. it's his favorite property. the chance to mingle with the president is clearly attractive. >> p

robert frank is outside. john, let's begin with you. what can we expect? >> reporter: well, i think we can expect in this extremely crowded press conference with reporters from all over the world packed in here that there's going to be intense focus on russia, on the russian

robert frank has more on the big money migration. we were talking about this.k that the collective effect of the last eight years, the bureaucratic explosion was better overall. they're rich down there. it's the wealthiest -- >> everybody is driving bmws. >> four guys can't do it. >> for the past three years, the richest counties and zip codes, three of the top five are in the d.c. area. it wasn't -- in billionaire terms, four is a crowd, i guess. >> i guess so. price inflation on four big estates. >> no, check it out. the richest presidential cabinet in history, they all need homes in d.c. that created new opportunity for local luxury brokers. wilbur ross bought this place in the washington heights, 10,000 square foot mansion -- sorry, massachusetts heights, listed for 12 million. has a movie theater, staff quarters, seven bedrooms. directly across the street from the home of outgoing billionaire commerce secretary, penny pritzker. ivanka trump and her husband are planning to move into this home, it sold before christmas for 5.5 million. it's unclear if they a

we have robert frank at trump tower in new york because that is widely considered to be one of the auxiliaryte houses. we do not know a lot about what his preferences are going to be regarding new york and washington, whether he comes down here simply for ceremonial business. >> of course we'll see. trump tower, marlg, or new jersey all favorite spots. >> washington is not a business city, you're trying to change the character of who you talk to. washington is known as lobbyist town. ceos come to new york. so it would be a change of pace to deal with the top guys and not their emissaries -- >> well, we get opening bell even on inauguration day here at the big board. a down day yesterday and what seemed to be some early weakness. bond yields also -- there it is. a lot louder. [ bell ringing ] there's a look at the capitol as you see as we await the inauguration and the oath of office not too long from now, jim. >> markets especially in kind of an era of good feeling. market in keeping, carl, with the notion of peaceful transition. and one of the things i've been waiting for is a little bit up

robert frank was there. he joins us now with the details. robert? >> good morning, andrew.ell, sherry dillon saying trump should not be expected to destroy the company he built just because he's president. trump saying he legally doesn't need to do anything, but here's what he is doing. he's going to put his company into a trust that will be managed business i had two sons, eric and don jr. he's going to have limited information about the company's activities. the trump org will hire an ethics officer and compliance chief to make sure the company is not receiving special favors or favors as a result of its ties to the president. it's going to give profits from the hotel that come from foreign governments to the u.s. treasury. it will not do any new deals or prok projects overseas, but it can do new deals and partnerships in the u.s. there are some unanswered questions. we don't know if this trust is easily reversed once he's out of office. we don't know who the beneficiaries of the trust are. we don't know what kind of income he's going to get from this business or where it

robert hanagan has been in post of gchq and resigns because of personal reasons. frank about the man? robert hanagan still is the director general of gchq, the government communications headquarters down in cheltenham, basically the eaves dropping station and, in this age of cyber espionage and, in this age of cyber espionage and terrorism and snooping, hacking, it's assumed a hugely important government infrastructure. they are not just trying to government infrastructure. they are notjust trying to stop government infrastructure. they are not just trying to stop foreign governments dealing secrets, they are trying to stop organised criminals and trying to track down isis operatives in syria. so it's quite a shock that he's suddenly resigned like this. we are told its for personal reasons, personal health reasons in his family and there is no reason to doubt that. but he'd only been in post for two yea rs but he'd only been in post for two years and i think this is going to leave quite a gap. i'm sure somebody very able will take over from him, but this is a time of qu

roberts. the arrivals are in full swing. >> frank luntz is here, the arrivals are complete.ration can get underway. good morning, interesting day today. >> remarkable. i've been at every inauguration since 1980 and the first time i'm on the platform. there are hundreds of thousands of people already backed up. my question is, are the seats for the democrats who aren't showing up, are they going to be held empty? >> that's a big question. we can show you what is happening on the platform. a number of dignitaries and invited guests have already arrive. sheldon -- the joint chief of staffs. will be hillary clinton four rows back from the president-elect. it's that section to the left of the camera if the camera can swing around there where you see newt walking or somebody else. not newt. i don't have my glasses on. that whole section is where the house of representatives will sit. we don't know if the seats will be empty or if they'll put seat fillers in them or not. i think they could make the argument that those are reserved for members of the house and you can't put anybody

robert mcnew mare ray say this. we fail to draw congresses in the american people into full and frank discussion and debate of the pros and cons of the military involved in southeast asia. we didn't have formal authority we did. the problem wasn't with formality it was substance. neither the congress would intend the words would be used as we used them. we in the -- aftermath of the attack of 9/11 stretching it beyond what was original intend. people were not leer to vote on the authorization. you talk about your concerned about the absence of authorization for currents military operations. isn't the war making power that gives that decision to the people elect elective body part of the control that we are obligated to uphold? >> i think you're right. there are many different aspect of civil control too fact commander in chief that the different than other countries do it. i agree with you on authorization for the use of military force, without pushing, i think on some occasions it's been way of avoiding responsibility. so there's a requirement for congress to step up say i'm going to vote ya or nay on something like

robert albertson, and sandler o'neill. thanks for joining us. scarlet: the white house says today is the first step in scaling back dodd-frank.details. this is bloomberg. ♪ scarlet: this is "bloomberg markets," i'm scarlet fu. oliver: i'm oliver renick. scarlet: sean spicer is speaking about immigration. he says there's a need to look all visa programs. they want, president trump is due to announces supreme court picks tomorrow night. joining us a shannon pettypiece and greg stuart, cohost of bloomberg law. questions from the press sean spicer about immigration reform, specifically what next steps president trump will take. what can you tell us? shannon: this is a huge issue for companies, pharmaceutical companies, telecom companies. a lot of interest in this area. on the h-1b visas, in a given the high skilled foreign workers, he didn't rule out taking any action on that. the president is looking at this and will consider any actions you can take, either legislatively. obviously, these drafts will change, but that will give the president authority for the agencies to then direct companies to hire the most skilled american wo

i'm robert frank.ne of trump's posh property, so exclusive cameras are not allowed in the lobby. we were granted inside the $40 million dollar penthouse in the sky. the trump tower in new york city. 52 stories above central park. >> he proved himself to visionary when he took this building and turned it into luxury hotel and condo. >> real estate broker gave us a exclusive look inside. we have been asked not to name. >> mr. trump said it would break all records selling for 1,000 square foot. >> lateen says the condo was not such an easy sell. >> something was wrong with the fun sway of the building. how to fix the fun sway. put a spear at the circle side of the building. >> he fixed it model after the world fair in queens. >> immediately it sold out. >> how much would it go for today. >> this residents is not on the market it would trade in excess of $40 million along way from $1,000 square foot price tag. >> thanks for watching the special edition of super lives of the rich. i'm robert frank. good nig