Though he carries himself like a master businessman, Donald Trump’s real estate business has left a trail of debt and destruction from Ft. Lauderdale, Florida, to Baja, Mexico.
While it’s been widely reported, still too few realize that Donald Trump doesn’t own nearly 40 percent of the 62 buildings that have his name on them. That long, impressive real estate portfolio on his website? Many of those are “Trump” in name only.
As the housing market in the United States began to falter in 2006, Trump correctly evaluated that the risk of using his own money to develop new properties was too risky. Instead, he licensed his name to developers for a hefty fee and didn’t touch the actual building. It’s an enticing business prospect for the multi-billion-dollar Trump brand. But for almost everyone else, trust in Trump got them burned.