26.
Trump Mortgage
Launched: 2006
Service rendered: Residential and commercial
real estate financing
Years in business: 1.5
What went wrong: Even someone as
deluded as Donald Trump probaby should have been able to predict this one.
While the bubble hadn’t burst quite yet, in
2006, market prices were already starting to fall.
And a few months after that is when Trump
Mortgage decided to make its debut, with Trump telling CNBC that it was “a
great time to start a mortgage company.
I’ve been hearing about this bubble for
so many years from you and everybody else in your world, but I haven’t seen it.
I will let you know when I see it.”
“I’ve been hearing about this bubble
for so many years from you and everybody else in your world, but I haven’t seen
it. I will let you know when I see it.”
A year and a half later, after failing
to hit any of its financial targets, Trump apparently decided he saw it, and
Trump Mortgage shut down for good. Although if you ask him about it now,
Trump calls the business a “tiny deal” that
“he never ultimately moved forward with”—which is objectively untrue.
Trump did
move forward with the company, it’s just that no one wanted to follow.
27.
Trump: The Game
Launched: 1989
Service rendered: Family fun
Years in business: 1
What went wrong: In 1989, Donald Trump
decided that if people love Monopoly, surely they’ll love what is essentially
the same thing but Trump-themed.
He convinced Milton Bradley to release the
game, assuring them that this face could move 2 million units off shelves in a
year.
His face, of course, could not, and
the game went out of production after a year.
But for the Trump purists among
us, you can still buy a (lightly used version of) the game for an appropriate
$69 on Amazon.
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