10 Donald Trump Business Failures
Donald Trump seems to be on a roll after the massive win on Super Tuesday. Many Americans seem to be supporting him based on his “no nonsense” approach and are enamored with his off the cuff spectacle that he creates every time he speaks. Many also believe that because he is a billionaire and has his name plastered on towers that he is a great businessman, therefore would be ideal to help “Make America great again”. But how good of a businessman is he really?
Going back to the 80’s he bought Eastern Air Shuttle and renamed it Trump Shuttle for $365 million. The idea was that this fleet of planes would be "no fuss" but with a luxurious experience such as having incorporating gold lavatory fixtures. His timing though couldn’t have been worse. With fuel prices on the rise mixed with the simple lack of interest from people, this company ended in 1992.
Also in the late 80’s he launched Trump: The Game with Milton Bradley which had the catchphrase “It’s not whether you win or lose, but whether you win!” 3-4 players simply compete in buying and selling real estate. This eventually flopped but was brought back to the shelves after his fame on The Apprentice accompanied by the new slogan “You’re Fired”.
One of his most famous flops was in the 80’s with the fall of his casino business. He built the Trump Plaza in Atlantic City for $210 million but then had to sell it in 2013 for a meagre $20 million. His casino business has produced a total of 4 bankruptcies.
In 2004 he went on to try and start his own Trump University which really only consisted of real estate focused workshops and mentorship programs. This was an unaccredited program and eventually shut down in 2010. The University was sued by the NY Attorney General in 2013 for $40 million accusing the University for defrauding students and operating an unlicensed university. Some of the 5,000 individuals that attended paid up to $35,000.
In 2006 he attempted to start Trump Mortgage claiming that with his years in the real estate it only made sense to start his own mortgage company. Again you would wonder why he didn’t do more research regarding the housing market. 2007 was the year that the market spiraled down which led to Trump Mortgage closing a year and a half after starting.
2006 was when he tried to create Trump Vodka claiming it would be “a major player in the vodka arena”. He believed it would eventually become one of the most requested drinks in America. It would be fair to say that the majority of Americans probably have never heard of it.
Some of Trump's flops were the Trump Magazine, Trump Steaks, travel search engine GoTrump.com and his major fail with the United States Football League with which he tried to compete against the National Football League. These are only a few of the many mistakes he has made throughout his career and they have resulted in their fair share of debt and lawsuits. Could he really be America’s next president?