Donald Trump is a well-known figure in the business world, and his book “The Art of the Deal” has become a bestseller. In this book, Trump details some of the controversial business moves he has made throughout his career. These moves have often generated controversy and criticism, but they have also led to some notable successes. In this article, we will explore 15 of these controversial business moves by Donald Trump.
1. The Trump Taj Mahal Bankruptcy
In 1991, Trump’s Atlantic City casino, the Trump Taj Mahal, filed for bankruptcy. This was the first of four bankruptcies that Trump’s casino empire would ultimately go through. Many criticized Trump’s management of the casino, which was plagued by high debt and declining revenues. However, Trump argued that the bankruptcy was a necessary move to restructure the casino’s finances and make it more competitive.
2. The Central Park Five Ad Campaign
Five young men were arrested and convicted for the rape of a jogger in New York City’s Central Park. Trump took out a full-page ad in four New York City newspapers calling for the reinstatement of the death penalty in response to the crime. The ad was seen by many as racially charged, and the men were later exonerated by DNA evidence.
3. The Trump University Settlement
Trump University was a for-profit education company that Trump founded in 2005. The company offered real estate courses and was the subject of multiple lawsuits from former students who claimed that they were defrauded. In 2016, Trump agreed to pay $25 million to settle the lawsuits.
4. The Atlantic City Casino Consolidation
In the late 1980s and early 1990s, Trump was instrumental in consolidating the Atlantic City casino industry. He acquired several casinos and hotels, which he then rebranded under the Trump name. This move helped to solidify Trump’s position as a major player in the Atlantic City casino industry.
5. The Trump Foundation Controversy
The Trump Foundation, a nonprofit Donald Trump formed, was found to have made a number of unauthorized payments in 2016. The foundation was compelled to restructure and make a $2 million payment. Trump has drawn criticism for misusing the foundation and diverting funds away from the intended philanthropic uses.
6. The Trump Plaza Bankruptcy
Also declaring bankruptcy in 1992 was Trump’s Trump Plaza casino in Atlantic City. Trump’s casino empire, which was already suffering from a heavy debt load and competition from other casinos, took another hit as a result. Trump will eventually sell his casinos in Atlantic City in 2009.
7. The Trump Organization’s Ties to Russia
During the 2016 U.S. presidential election, Trump’s ties to Russia became a major controversy. Many accused Trump of having close ties to the Russian government and of colluding with Russian officials to influence the election. While no evidence of collusion was ever found, the controversy surrounding Trump’s ties to Russia continues to this day.
8. The Trump Shuttle Bankruptcy
It was in 1990 that Trump acquired Eastern Air Lines Shuttle and rebranded it as the Trump Shuttle. However, the venture was unsuccessful, and the shuttle filed for bankruptcy in 1992. Trump’s airline ventures have been a frequent source of controversy throughout his career.
9. The Trump Organization’s Use of Undocumented Workers
At several of its properties, the Trump Organization employed undocumented workers in 2016. Many criticized Trump for his anti-immigrant rhetoric while his organization was using undocumented workers. Trump has denied any knowledge of the undocumented workers.
10. The Trump Tower Wiretapping Claims
According to Trump, the Obama administration wiretapped his phones during the 2016 presidential election as part of its efforts to target him. However, there was no evidence to support this claim, and it was widely criticized as baseless. The controversy surrounding the wiretapping claims added to the already high level of scrutiny on the Trump administration.
11. The Trump Organization’s Tax Practices
A report that appeared in The New York Times in 2018 reported that the Trump Organization had engaged in questionable tax practices, including fraud and tax evasion, in order to maximize its profits. The report detailed how the Trump family had used various tactics to avoid paying taxes on their wealth, including transferring wealth through gifts and manipulating property valuations.
12. The Trump Administration’s Family Separation Policy
As part of its immigration strategy, the Trump administration started separating families at the border between the United States and Mexico in 2018. Many people said that the policy violated their rights and that it was inhumane and cruel. There were numerous protests and condemnations in response to the debate over the family separation policy.
13. The Trump Organization’s Relationship with Deutsche Bank
One of the biggest banks in the world, Deutsche Bank, has a long-standing relationship with The Trump Organization. The partnership has generated controversy, though, with many claiming that Trump influenced the bank’s choices by abusing his authority as president. In addition, the bank has come under fire for its role in money laundering and other financial crimes.
14. The Trump Administration’s Response to COVID-19
The Trump administration’s response to the COVID-19 pandemic was widely criticized as inadequate and ineffective. Trump downplayed the severity of the virus and resisted implementing measures such as mask mandates and lockdowns. The controversy surrounding the administration’s response to the pandemic contributed to Trump’s defeat in the 2020 presidential election.
15. The Stormy Daniels Scandal
Trump allegedly paid adult film actress Stormy Daniels $130,000 in hush money in order to silence her about an alleged affair they had in 2006. This information came to light in 2018. The issue received extensive media coverage and raised concerns about Trump’s moral integrity and eligibility for office. The scandal’s uproar increased the level of attention already being placed on the Trump administration.
Donald Trump’s career in business and politics has been marked by controversy and criticism, and his book “The Art of the Deal” details some of the most controversial moves he has made. While some of these moves have led to success, many have also generated significant controversy and criticism. From bankruptcies to scandals to controversial policies, Trump’s legacy in business and politics will continue to be debated for years to come.