It’s common knowledge that Trump organizations have filed for bankruptcy protection 4 times. As is often the case, common knowledge isn’t always correct, since Trump organizations have actually filed for bankruptcy protection SIX times”.
There are actually people who plan to vote for Trump because they think that he is a good businessman. However, in addition to the bankruptcies, there are other parts of his financial empire that would seem to confirm that he’s actually a terrible businessman.
Trump Shuttle lasted from 1989 to 1992.
Trump Steaks lasted from 2007 to 2014.
Trump Vodka lasted from 2007 to 2011.
Trump University lasted from 2005 to 2010, and is currently under investigation by at least two states (New York and California). Texas and Florida also started to investigate, but stopped after mysterious contributions were made to Greg Abbott in Texas and Pam Bondi in Florida.
The Trump Princess, meanwhile, is quite another story.
In 1998, Trump bought the 281 foot yacht from the Sultan of Brunei for $29 million. At the time of his purchase, it was one of the largest yachts in the world. Due to the fact that Trump wasn’t comfortable on the boat, he sailed on it only once, when it made its maiden voyage from the Azores to the New York harbor.
By 1991, Trump was $900 million in debt, and was forced to downsize by ceding many of his assets back to his creditors. In addition to the Trump Princess, Trump also gave up his 49% stake in New York’s Grand Hyatt Hotel, the Trump Shuttle airline, and his 27% share in Alexanders Inc, a department store chain.
The Trump Princess was eventually bought by Prince al Saud, a member of the Saudi royal family.
On September 17, the New York Times reported that Trump has received tax breaks of $885 million from the city of New York. The property that received the most in tax breaks ($359 million) was the Grand Hyatt hotel, which Trump was forced to give up in 1991.
Regardless of the facts shown above, there are still going to be people who think that Trump is a good businessman. Although that simply doesn’t make sense to most of us, the sad truth is that you just can’t fix stupid.