President Trump's real estate empire is crumbling along with his credibility among mainstream Republicans.
Trump has finally acknowledged he's leaving the White House next week, leaving him to rejoin the businesses he sort of, kind of distanced himself from during his presidency. But after his supporters attacked the Capitol building last week, banks, other businesses, and potentially customers will have nothing to do with him, The Wall Street Journal reports.
Trump's 2016 election, combined with his more controversial actions in office, was enough to lead to major boycotts of his hotels and resorts worldwide; They instead became a favorite of his supporters. People involved with the Trump Organization told the Journal they believed "polarized views of Trump would soften" once he left office. But with the last days of his presidency marked by a riot that left five people dead, high-profile Republicans are leaving the party and businesses are refusing to work with the Trumps ever again.
The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
In the week since the attack, companies that ran Trump's online stores and processed his campaign's online payments have cut ties. Signature Bank, where Trump's daughter Ivanka Trump was once a board member, started closing down his personal accounts and called on the president to resign. And as multiple outlets reported Tuesday, Deutsche Bank, Trump's longtime lender, has decided not to do business with the company again. Trump owes more than $300 million to the bank that's due in the next few years, "forcing the company to refinance the debt or pay it off by potentially selling assets," the Journal writes.
Trump's business already spent the last four years selling or trying to sell some of its biggest properties, so a shriveling customer base and impending debt may only force the company to double down. Read more at The Wall Street Journal.
-
An introvert's dream? Flu camps that offer £4,400 to spend two weeks aloneUnder The Radar A fortnight in isolation may not be as blissful as it sounds
-
Can Trump put his tariffs on stronger legal footing?Today's Big Question Appeals court says 'emergency' tariffs are improper
-
Film reviews: The Roses, Splitsville, and TwinlessFeature A happy union devolves into domestic warfare, a couple's open marriage reaps chaos, and an unlikely friendship takes surprising turns
-
New York court tosses Trump's $500M fraud fineSpeed Read A divided appeals court threw out a hefty penalty against President Trump for fraudulently inflating his wealth
-
Trump said to seek government stake in IntelSpeed Read The president and Intel CEO Lip-Bu Tan reportedly discussed the proposal at a recent meeting
-
US to take 15% cut of AI chip sales to ChinaSpeed Read Nvidia and AMD will pay the Trump administration 15% of their revenue from selling artificial intelligence chips to China
-
NFL gets ESPN stake in deal with DisneySpeed Read The deal gives the NFL a 10% stake in Disney's ESPN sports empire and gives ESPN ownership of NFL Network
-
Samsung to make Tesla chips in $16.5B dealSpeed Read Tesla has signed a deal to get its next-generation chips from Samsung
-
FCC greenlights $8B Paramount-Skydance mergerSpeed Read The Federal Communications Commission will allow Paramount to merge with the Hollywood studio Skydance
-
Tesla reports plummeting profitsSpeed Read The company may soon face more problems with the expiration of federal electric vehicle tax credits
-
Dollar faces historic slump as stocks hit new highSpeed Read While stocks have recovered post-Trump tariffs, the dollar has weakened more than 10% this year
