One might wonder why the supposedly astute businessman, Donald Trump, has overseen so many failures in his business ventures. Directly under Trump’s leadership, there was the Taj Mahal, bankrupt in 1991. Then the Trump Castle, Trump Plaza and Plaza Hotel—all bankrupt in 1992. Trump Hotels Casinos and Resorts, bankrupt in 2004, and finally, Trump Entertainment and Resorts, bankrupt in 2009. 

But wait, there are more business casualties that licensed the then-popular TV celebrity Trump’s name. These include the Trump Shuttle, defaulted on its loans in 1990 and expired in 1992. The infamous Trump University, founded 2005, but amid lawsuits and investigations ceased operations in 2011. Also Trump Vodka, founded 2005 and failed by 2011. Trump Mortgage, LLC, founded 2006, ceased operations in 2007. The travel site, www.gotrump.com, was born 2006 and died in 2007. Also, Trump Steaks, created in 2007 and expired two months later. The list goes on.

Perhaps this is all ancient history and just no longer relevant. But, perhaps not, as this list of Trump business “accomplishments” are taken from his latest (2/14/2025) personal and mandatory annual SEC filing of Form 10K for 2024, regarding his currently Nasdaq-listed company, Trump Media and Technology Group (TMTG), the parent company of Truth Social. That 2024 filing reveals that Trump’s media company lost roughly $400 million on gross proceeds of about $3.6 million. Thus, his company losses for 2024 were more than 100 times its revenues.

So how can such losses be considered in any way a success? Hypothetically, let us put aside what must have been huge amounts of money lost in previous Trump bankruptcies, and rather just consider the $400 million lost by the TMTG Corporation in 2024. Exactly who lost this vast sum? Of course, it is the company and not Donald J. Trump! In bankruptcy proceedings, company owners and executives can make out quite well, but company shareholders often stand at the very end of a very long line of creditors and divide the remaining “pennies in the pot” for their near worthless shares. And somewhere there lies about $400 million in losses. Where did they go, for what services and to whom? 

Perhaps yet another Trump bankruptcy could be in the offing. Again, hypothetically, could this one involve over 200 million (likely, soon to be near worthless) shares of TMTG? Sometimes a handsome reward can be gained by inside players when conning susceptible and willing “investor” victims and then seeking shelter in bankruptcy laws written by the rich for the rich. Keep your eyes on the prize. Follow the money. Just so many bankruptcies!

John Pace lives in Honesdale, PA.