3/3/2024
To fail means nothing. When you failed at anything means you tried.
What happens when you failed – it is a given? You dust off and either study more about what you failed and try again or try something else.
Those who have never failed in life – are lying.
ttps://www.msn.com/en-us/money/markets/20-donald-trump-business-ventures-that-failed-miserably/ar-BB1jb7di?ocid=msedgdhp&pc=U531&cvid=ea34c9a3e2ae470390f5aa1aaa7c25df&ei=41
The story I was told about success was from a real estate business man who was a multi-millionaire. He stated that he tried 27 different businesses and in each case felt it was not the business he felt he could be successful. When he started number 28 it was real estate where he met his calling.
All of the transactions had a HAPPY ending to it – His famous sign was – DONE IT AGAIN.
You could listen to his experiences for hours on knowing how to fail and pick up the pieces and move on. If you are a person who hasn’t failed in some endeavor – then you HAVEN’T DONE ANYTHING IN YOUR LIFE.
Experience is the best teacher in life – so don’t knock it – it the mother of experience. If you keep your head buried in sand and do nothing with your life – you never will be able to say:
DONT IT AGAIN!
****
Donald Trump, a name synonymous with both business acumen and controversy, has navigated through numerous ventures over the decades.
As a child of the 1980s, I remember a few of my uncles on my mom’s side would sit around and play poker. Then a few of my uncles on my dad’s side would play some game where they flipped dimes to see who would get closest to the wall.
But I was told not to gamble because the house always wins. I wasn’t allowed to play these games. But then again I wasn’t even ten yet.
At the same time there was this guy on the news all the time for bankrupting casinos. But he was also on TV constantly telling people how rich he was.
I remember asking my dad about this Donald Trump guy. I was very confused. How was he rich, yet bankrupting casinos? As a kid, I did not understand.
My dad (who now proudly wears Trump hats and socks), explained that Trump made his money from his dad and from telling people he was rich by writing The Art of The Deal.
That has resonated with me over the three decades as we’ve seen all of his business failures and claims of success. Then, just like The Art of the Deal, he made a lot of money off of The Apprentice. A showcase of his business skills.
While some of his endeavors have boasted success, a significant number have stumbled, showcasing the complexities of entrepreneurship and market dynamics.
Trump© Shutterstock
I am not including all of his financial failures here (like the recent $355 million ruling, or payoffs to Stormy Daniels, E. Jean Carrol, and others). This article is just focused on his business failures.
Here’s an in-depth look at 20 of his business ventures that didn’t quite hit the mark.
Related video: Here’s Who Could Loan Trump $540 Million (Dailymotion)
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1. Trump University (2004-2010)
A for-profit education company that ended in a $25 million settlement over fraud lawsuits, without admitting wrongdoing.
The venture was criticized for misleading marketing practices, promising to teach Trump’s real estate strategies through programs that failed to deliver.
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2. Trump Steaks (2007)
An attempt to break into the meat industry that ended shortly after its launch. Sold exclusively through The Sharper Image and QVC, the venture struggled due to poor sales and market reception.
Trump Steaks was pulled from shelves within two months due to low sales. Specific financial losses are not publicly detailed but the quick discontinuation indicates a failure to capture the market.
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3. Trump Vodka (2006-2011)
A luxury vodka brand that failed to meet sales thresholds and was discontinued. Trump Vodka struggled to compete in the saturated premium vodka market.
Discontinued due to failure to meet sales thresholds required to continue the license. The investment in branding and production, given the ambition to dominate the luxury vodka segment, suggests substantial unrecovered costs.
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4. Trump Airlines (1989-1992)
Acquired for $365 million, the airline defaulted on a $1.1 million loan repayment and was eventually ceased operations, underlining the financial risk in the aviation industry.
Operational costs and eventual default on loan repayments compound the total losses from the venture
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5. Trump: The Game (1989, 2005)
A board game that saw poor sales and was discontinued.
Despite relaunch efforts, the game did not achieve lasting market success. Financial details regarding production and marketing costs versus revenues are limited but reflect a misjudgment in market demand.
6. Trump Ice (2004-2010)
Aimed to market luxury bottled water, discontinued due to market competition. Specific financial figures on investment and losses are not detailed but indicate branding and product placement challenges.
7. GoTrump.com (2006-2007)
A luxury travel search engine shut down after a year due to critique and lack of traction, showcasing the challenges of establishing a new digital platform.
Initial setup and operational costs likely resulted in financial losses due to the short operational period.
8. Trump Magazine (2007-2009)
Shut down after two years amid a challenging advertising market for luxury publications, underlining the tough media landscape.
The venture’s shutdown suggests significant unrecouped investment in publication and distribution.
9. Trump Tower Tampa (2006-2007)
A real estate venture shelved due to financing and market challenges, indicating significant investment losses.
The proposed luxury condo project was canceled amid the real estate market downturn, leading to lost deposits and investments, highlighting the financial risks in speculative real estate ventures.
10. Trump Mortgages (2006-2007)
Launched at the brink of the housing market crash, it folded quickly due to the subprime mortgage crisis, emphasizing the impact of poor timing and market conditions.
Closed doors as the housing market crashed, signaling a poor timing and a significant misread of market conditions, resulting in likely substantial startup costs and operational losses.
It’s interesting that Trump Mortgages struggled as a lender, given Trump’s history as a borrower.
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11. Trump SoHo Hotel (2008-2017)
Faced legal challenges and struggled with occupancy rates before being rebranded, showing the competitive nature of the luxury hotel sector.
Initial investment and operational losses, compounded by legal fees, mark this as a financial misstep.
12. Trump Plaza Hotel and Casino (1984-2014)
Once a landmark in Atlantic City, it went through multiple bankruptcies before closing, demonstrating the challenges of maintaining profitability.
Multiple bankruptcies before its closure, indicating substantial financial losses over its operational life due to declining revenues and competitive pressures.
13. Trump Taj Mahal (1990-2016)
Opened with grandeur but faced immediate financial distress and multiple bankruptcies, reflecting the complexities of large-scale casino operations.
The scale of investment versus accumulated debt and operational losses underscores a significant financial failure.
14. Trump Baku Hotel (Never opened)
A luxury hotel project in Azerbaijan that faced legal and financial issues, highlighting the risks of international real estate ventures.
Legal and financial issues halted this project, suggesting sunk costs in development and planning without the realization of potential revenues or returns.
15. Trump International Hotel and Tower Dubai (Never realized)
Shelved following the 2008 financial crisis, illustrating the global impact of economic downturns on luxury real estate.
The failed venture reflects lost investments in planning and pre-development stages.
16. Trump International Hotel and Tower New Orleans (Never realized)
Abandoned after Hurricane Katrina, indicating initial investment losses and unrealized potential in a recovering market.
The project was abandoned due to the city’s extensive rebuilding challenges.
17. Trump Tower Palm Beach (Never realized)
Faced local opposition and environmental concerns, quickly scrapped, underscoring the influence of community and environmental considerations.
18. Trump Tower Charlotte (Never realized)
Encountered economic uncertainties and financing challenges, leaving the ambitious mixed-use development uncompleted.
This is another example of Trump experiencing financial losses related to planning and initial development efforts without achieving fruition.
19. Trump Institute
A separate business from Trump University offering real estate seminars under a licensing agreement until 2009. Trump endorsed the program through infomercials despite not being involved in its operations.
While Trump endorsed the program, financial details on the scale of investment or revenue share are not public, suggesting a venture that did not meet its expected potential
20. Professional Football and Social Media Forays
Trump’s business interests have also spanned professional sports and social media.
These endeavors, while not detailed in financial outcomes here, signify his diverse portfolio and his readiness to take on high-risk ventures, demonstrating his approach to business and entrepreneurship.
Is Marriage A Business?
Trump hasn’t limited his financial failures to business. Donald Trump has been married three times:
Ivana Trump
They married in 1977 and divorced in 1992. Ivana was a significant figure in the Trump Organization, notably in interior design and managing the Plaza Hotel.
The divorce settlement with Ivana Trump was one of the most talked-about in the early ’90s. It was reported that Ivana received a settlement that included $14 million, a mansion in Connecticut, an apartment in Trump Plaza, and use of Mar-a-Lago for one month a year.
Marla Maples
The marriage took place in 1993, following their affair that began while Trump was still married to Ivana. They have one daughter, Tiffany, and divorced in 1999.
The divorce from Marla Maples was less costly in comparison. Reports suggest that Maples received around $2 million in the divorce settlement.
Trump: A Lesson Learned
This comprehensive overview of Donald Trump’s less successful ventures showcases the challenging nature of entrepreneurship.
Each venture, from educational endeavors like Trump University to ambitious real estate projects like Trump Tower Tampa, underlines the importance of market timing, financial management, and the complexities of navigating various industries.
Trump’s widespread interests, spanning from luxury goods to online platforms and professional sports, highlight his entrepreneurial spirit but also the potential pitfalls of extending one’s brand across too diverse a range of sectors.
These failures not only represent financial losses but also offer lessons on the importance of ethical business practices, market research, and strategic planning.
Despite these setbacks, Trump’s career continues to be a subject of study for understanding the dynamics of business success and failure in the modern economic landscape.
In Conclusion
Each of these ventures illustrates not just the ambition and breadth of Trump’s business interests but also the inherent risks of entrepreneurship and market speculation.
The financial figures, where available, help to illuminate the scale of investment and the magnitude of losses involved, offering a cautionary tale about the complexities and challenges of business ventures across diverse industries.
****
May God Bless him in this endeavor. He loves our country and is trying to put it back together after Obama took it apart. Just think how many people are trying to keep him from putting our country back on the road of the Constitution/freedom.
The question to those who are fighting against him – the one question that needs to be asked of them:
What do you stand for and why are you working with Obama/Biden to blow up our country?
What are they afraid of – are they also guilty of being part of Obama’s treason?
Is the corruption that will be exposed and they are a part of it – they accepted money?
Something is bigger – than country – if they are on Obama’s side?
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