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A Chronology of Donald Trump's Epic Business Fails
Millions of American's believe that Donald Trump is a great businessman and the potential savior of America from impending doom. Donald Trump promises to make America great again and many believe he is the one to do so. Donald Trump is a billionaire but no one is sure of his true net worth. While no one would doubt that he is a businessman the question is how good a businessman he is. He is the only contestant in the Presidential race who has not released his income tax at this point, so it is anybody's guess how much he is really worth.
Business fail #1 In 1983 Trump bought the New Jersey Generals football team but alas, he couldn't hold unto it and it went under a few years later. It is reported that Donald Trump sold his interest in the team to concentrate on his numerous unfinished construction projects. Let’s hope that as president, the "wall" will not be one of many unfinished construction projects.
Business Fail #2 The 1990's was a year filled with economic woes for Trump. He was heavily in debt resulting in one of his Casinos, the Taj Mahal casino in Atlantic City, N.J. being forced into bankruptcy in 1991.
Business Fail #3 Yet another casino, the Trump Plaza Hotel goes into bankruptcy in 1992 reportedly in order to restructure debts. When the little man needs to “restructure debts” we take out a second mortgage or a title loan. The rich file bankruptcy and is so doing avoid paying all those vendors they owe.
Business fail #4 By 1992 Trump airlines was a bust after Trump defaulted on his loans.
Business Fail #5 In November 2004, Trump files a Chapter 11 bankruptcy for Trump Hotels & Casino Resorts Inc.
Business fail #6 Trump vodka was supposed to be the best in the world when it was introduced in 2006 but has since folded. Its ironic that Trump who doesn't drink would own a vodka business with his name attached to it. It is reported that Trump never tasted his own vodka.
Business fail #7 Trump Mortgage. Like Trump Vodka was hyped as the best, with the potential of being the number one mortgage company in the world. Just 18 months later in 2007 Trump Mortgage folded.
Business fail #8 Go Trump,com was shut down after a year. Started in 2006 it was gone in 2007 It was a site for bargains on luxury travel deals where Trump's favorite hotels and resorts were highlighted. The Washington Post described it as a "vanity site" for Trump.
Business fail #9 Just days after stepping down as chairman of Trump Entertainment Resorts, the company files for bankruptcy in 2009. Can we say Trump saw it coming? In any event, the Trump organization has a 28% share in Trump Entertainment resorts.
Business fail #10 Trump Magazine was a magazine that catered to the rich and famous was in limited availability in in some form or other from 1998 to 2009 until it went up in smoke. His daughter Ivanka graced the cover of the first magazine.
Business fail #11 Trump Ice bottled water was sold mainly at his casinos and while Trump’s website say you can fine it at specialty stores, it was reportedly closed down in 2010.
Would you trust someone with a history of business failures to manage your finances?
Business Fail #12 Trump Tower Tampa. This building was one of several using the Donald Trump Developments name. However, nothing happened with the building and it was eventually sold in 2011 and many buyers lost their shirts.
Business fail #13 Trump University was supposed to make you into a great business person but instead it left many students steaming mad. Accusations of fraud and pressure tactics abound. In 2013, 40 million dollar lawsuit was filed by the City of New York against Trump University. Currently there are multiple pending lawsuits against Trump University while others have been settled.
Business fail #14 for a second time, Trump Entertainment Resorts filed for bankruptcy in 2014
Business fail #15 Trump Steaks. Launched in 2007 Trump’s Steaks were billed as “The Greatest” If you tried Trump Steaks you may have shelled out a whopping $200 to 1,000 dollars. For four packets of steak. The Trump steak trademark was cancelled in 2014
Business fail #16 You’re fired! NBC was not happy with the statements Trump made when he announced his presidential run in 2015. Because of his “derogatory statements” regarding immigrants, NBC refused to air the Miss Universe Pageants