- Trump University –Â Launched in 2005, its purpose was to teach would-be real estate investors the “secrets” of the trade that Trump himself used to build his billionaire status. Bragging about his actual accredited college(which it wasn’t), Trump University showed off with its “teachers” and offered classes in asset management, real estate, and wealth creation. Unfortunately, the school was the subject of many fraud allegations and lawsuits, with former students and employees claiming that it was a pyramid scheme that took advantage of elderly and desperate people.
- Trump Taj Mahal –Â The grand Trump Taj Mahal Casino began construction in Atlantic City in 1984, but its builder died, so the site was up for auction. Trump bought it in 1987, and in the following years, he invested tons of money in it. The casino opened in 1990 but he declared bankruptcy a year later: $3 billion in the red- almost all on junk bonds.
- Trump Mortgage –Â Trump got into the mortgage business while the mortgage business was collapsing. This can be either brilliant or really insane. For Trump, it was brilliant. He announced his mortgage lending firm in late 2006, just as the real estate area was collapsing. Trump claimed that he had heard about this economic disaster but “hadn’t seen it”. As expected, Trump Mortgage failed to reach any of its initial financial goals. He pulled the plug after 18 months.
