January 16, 2003 11:00 AM

Ages: 19 and 21

Family fortune: $1.9 billion

First cars: Dodge Durangos

“I can’t say there was any time in my life,” says Eric, a freshman at Georgetown University, “when I said, ‘Wow! My family is a lot different.’ ” Maybe that’s because of the way parents Donald, 56, and ex-wife Ivana, 53, raised him and his siblings. “I taught them what my parents taught me — not to cheat and lie and take drugs,” says Ivana. “The most important thing is the work ethic” — including summer jobs as kids. Adds real estate mogul Donald (estimated worth $1.9 billion): “I tried to make them appreciate the value of money.”

Which isn’t to say they never splurge. Eric’s prize possession is a $450 fly-fishing rod; his sister has a weakness for Manolo Blahniks. Both Eric and Ivanka, who gave up a modeling career to enroll in the University of Pennsylvania’s Wharton School of Finance, plan to join brother Donald Jr., 25, in the family business. “Before I could read,” Ivanka says, “I knew I wanted to build buildings.” Words to warm dad’s heart. “I’ve been lucky,” says Donald. “They’re workers.”

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