Former president of the United States Donald Trump is known for boasting about his successful businesses. But history speaks for itself.
Before getting involved in politics and becoming the 45th president of the United States, Donald Trump was trying to pursue a career in real estate. He started his career in real estate in his father’s company “Trump Management”, which he later renamed to “Trump Organization”. It became popular after many publicly announced real estate deals in Manhattan, and now the company owns B&Bs and golf courses all over the world.
1996-2015 Trump partly or completely owned several beauty pageants. He was promoting his name in many construction projects and commercial products. Many of Trump’s unsuccessful businesses consisted of casino and hotel bankruptcies, cancellation of the New Jersey’s Generals American Football team, and the no longer existing Trump University.
It seems that unsuccessful business management skills haunt the former president of the United States. Here are some of Donald Trump’s most unsuccessful businesses:
1. Casino bankruptcies
– Trump’s Taj Mahal: Atlantic City casino, which filed for bankruptcy in 1991, only a year after an extravagant opening. Trump did not manage to tackle massive debts and was fighting financial results.
– “Trump Plaza” hotel and casino: this Atlantic City business faced financial difficulties, which resulted in many bankruptcies. “Trump Plaza” closed its doors in 2014.
– “Trump Marina” hotel and casino: previously known as “Trump Castle”, this Atlantic City property also ran into financial difficulties and filed for bankruptcy in 1992.
2. Trump University:
– Trump University, a real estate training program, faced legal challenges and fraud allegations. University alumni accused the company of false promises and fraudulent practices. In 2016 Trump agreed to pay 25 million and settle the lawsuits.
3. Unsuccessful airlines and other companies:
– “Trump Shuttle”: in 1989 Trump bought “Eastern Shuttle” airlines, which he planned to rename to “Trump Shuttle”. However, the company encountered challenges, which were caused by big expenses, growing competition, and a declining market. It stopped working in 1992.
– “Trump Vodka”: in 2006 Trump introduced his own vodka brand, aspiring to compete in the market with the best quality vodka producers. However, the product failed to outrun the competitors and was halted in the end.
– “Trump Steaks”: best quality beef production line, which was introduced in 2007. Despite the great approval that it received, the company did not reach commercial success and was discontinued.
4. Failed social network:
– “TRUTH Social”: in 2021 Trump announced his social media platform, named “Truth Social”, which was intended to become an alternative to other big platforms. However, during the initial installation, the project ran into technical difficulties. Besides that, its connections with the controversial media company “The Trump Media & Technology Group” raised concerns about possible bias and misinformation. At this point in time, the long-term success of the platform remains unclear.
During the last three decades, President Trump and his companies were involved in 3500 lawsuits in federal and state courts in the USA. Out of 1300 cases, Donald Trump settled 175 times, lost 38, won 450, and had 137 other cases, which ended in a different outcome. In other 500 cases, judges dismissed plaintiffs’ claims against President Trump.
Even though Donald Trump claims to be a great businessman and mentions, that he is an expert in the field, it is obvious that it is just another one of his bluffs. And his businesses speak for themselves.