Trump isn't great businessman. He's a second rate property developer, whose wealth came from his unscrupulous father. Trump's only real business is promoting Trump. He was a minor New York celebrity who shamelessly pretended to be something more than he was - the heir to a fortune someone else accumulated. Trump nearly lost that fortune through his disastrous foray as a casino owner in Atlantic City.
Trump was able to recoup some of his losses by laundering money for Russian oligarchs and to create the persona of a successful businessman by appearing on a weekly television "reality" program pretending to be a successful businessman.
Through the name recognition his flamboyant failures and TV persona created, Trump has managed to create himself as a "brand" - a symbol of what poor people imaging a rich person to be. But, what he really is, is an epic business failure who manages to get other people to lose money when they associate with his name.
Take this Trump branded hotel property in Vancouver, Canada:
The company that owns the Trump International Hotel in Vancouver, Canada, has filed for bankruptcy, according to Canadian records — raising questions about the future of one of President Trump’s newest hotels, just three years after it opened.
Trump does not own the Vancouver hotel; the building’s owner pays Trump’s company to operate the hotel and to license the Trump name.
The Trump Vancouver hotel has already been closed for four months because of the covid-19 pandemic. On Friday, the CEO of the hotel’s parent company said he was uncertain if it would ever reopen as a Trump property.The Vancouver hotel isn't the only Trump branded hotel to decide that having his name over the front door was bad for business.
The owners of three other Trump hotels — in Panama, Toronto and Manhattan’s SoHo neighborhood — have cut ties with Trump’s brand since the start of President Trump’s term. All have since reopened under new names.Trump university, Trump water, Trump steaks, Trump matresses, Trump clothing - are these the hallmarks of a world class developer and businessman? Or, the sad attempts from a fraud trying to make a buck from his TV persona? The Trump brand is turning into poison.
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