(FORTUNE Small Business) – Now, look," says Donald Trump, raising his outstretched palm toward the ceiling and beckoning with his index finger. "I'm just sitting here. I have no idea who these girls are." He is referring to the two squealing young lovelies who are suddenly past the maitre d' at the Trump Tower Bar & Grill and advancing fast on the corner table. "Bobby, that's all right, let 'em in! I'm just trying to make a point. Now, look, I don't know who these girls are, but--how are you?"

In unison: "Fi-i-i-i-ine!"

"Congratulations," says Trump.

"Nice to meet you-u-u-u-u-u!"

"You love the show?"

"We love it!"

Quick chit-chat, quick cuddly snapshot, quick parting advice ("Don't move out of Albany too fast--it's got a future"), and Trump's point is made: Business is suffused with sex; it's all about getting the girl. "I hope you're going to say that in the sophisticated sense," Trump cautions, "because in the crude sense, it doesn't sound right. It's about getting whatever it is that you want to get. And in some cases that happens to be the girl."

Is that your motive?

"No." He pauses. "Probably used to be. Without knowing it, right?" He seems on the verge of committing introspection but catches himself just in time. "The reason The Apprentice"--now in its fourth season on NBC--"is so successful is because it's real. When we have somebody who says, 'Oh, it's unrealistic. There's no such thing as sex in the boardroom'--well, I know plenty of people who have literally had sex in the boardroom, not only talked about it, okay? Right on the boardroom table. And in many cases there's nothing pretty about that."

Are you saying that you--?

"No, I would never say that. This is good meatloaf, isn't it?"

Right, the meatloaf. I--who actually am not, despite how Trump introduced me to his new friends from Albany, "the head of Fortune magazine"--nod agreeably. So does Michael Sexton, who really is president of Trump University--the subject of this lunch. Trump U. is more than just another brand extension. Other tycoons have penned bestsellers; other TV stars have created clothing lines; other sex symbols have marketed perfumes. What's left but for Dean Donald to parcel off and sell his life's wisdom to the next generation of empire builders?

Actually Trump, whose degree is from Wharton, contends that too often traditional MBA programs thwart success by "telling you what you can't do rather than what you can do. So we're doing something very opposite." (Not in every case. When I completed the $29.99 Entrepreneurial Assessment Profile exam at Trump U., I was gently advised to "reconsider your choice to be an entrepreneur.") Courses start at $297 for 13 hours of online instruction, provided by moonlighting professors with Ivy League ties. Students get no college credit. There's no campus, either, but that could change. "I certainly have enough brick and mortar," Trump points out. "Or we'll buy a college."

Why would he bother? Maybe he's after a nonmonetary reward this time. After all, he'll be 60 on his next birthday. Larger than life he may be, but only his hair is truly immortal. And in his own way, he lets me know that he is mulling his legacy. "Ultimately," Trump says wistfully, "we're all renters."