Throw Donald Trump Off a Cliff Again
Investing in a business organisation to ensure you lot have a stable income seems like a wise decision — until it isn't. Even celebrities who already have a ton of greenbacks can't be careless about choosing investments if they want to stay rich. From restaurants to clothing lines, the opportunities are plentiful, but it takes careful planning to avert embarrassing business disasters.
Depending on your age, you probably remember these unforgettable celebrity business organization flops. Call up y'all tin can guess who lost the most? Let's take a look!
Britney Spears – Nyla Restaurant
When Britney Spears opened Nyla Eating house in 2002, the fizz was real. She was in her prime number years, and it seemed logical she would invest in a different blazon of concern. Nyla was located in the Dylan Hotel in Manhattan, New York City.
Her departure from the business occurred in the same twelvemonth afterward she butted heads with the management, who claimed she was responsible for the restaurant'southward debt and other financial issues. Fun fact: The restaurant was supposed to exist chosen "Pinky," which was the nickname Justin Timberlake gave Britney when they were dating.
The Kardashians – Kardashian Kard
The Kardashians are definitely business moguls, but not all their business ventures take been a success. Take the Kardashian Kard, for case. In 2010, the Kardashians announced a controversial debut of a prepaid debit card featuring the sisters' faces on the front end. The business failed a month after its launch when the legality of sure fees raised concerns.
An attorney claimed the loftier fees were unfair and unethical, particularly for the Kardashians' largely young developed fanbase. Many reputable websites took notation of the "Kardashian Kard ripoff," which prompted the Kardashian family's attorney to take firsthand action and cease the concern to protect their reputation.
Kanye West – Pastelle Clothing Line
Yeezy has had plenty of fashion debuts during his career, and non all of them take been successful — or inspiring. Before his other mode lines, there was Pastelle, the debut that never saw a debut. In 2006, Kanye planned to release his Pastelle clothing line in collaboration with Adidas.
In short, a lot of drama happened, and according to reports, the investors didn't desire to invest a sufficient amount of coin to get the business organization off the ground. Kanye himself said you need to invest at to the lowest degree $100 meg when you're making a new brand, and it clearly didn't happen.
Donald Trump – Trump Shuttle
Number 45 is a known businessman, but not many people know virtually his business organisation failures. I of those epic failures was a very aggressive airline. Dorsum in 1988, Donald Trump introduced his own branded airline shuttle. The luxury shuttle service was supposed to run between Washington D.C., Boston and New York.
Ruby carpets, gold and other luxury elements cost Trump $ane million per aircraft. 3 months later the launch, i of his planes almost crashed. The near miss, rising fuel prices and a bank loan of $380 1000000 made Trump make up one's mind information technology was fourth dimension to leave his aviation dreams backside and try something else.
Paris Hilton – Dollhouse Collection
It has been proven plenty of times that Paris Hilton knows what she's doing when it comes to concern. The Hilton heir has made quite a name for herself, but non every idea resulted in greenbacks in the bank. In 2008, Paris Hilton for Dollhouse was released.
It was a collaboration between Hilton and the popular wearable label, and absolutely everyone was buzzing about information technology. The collection basically had Paris' confront and proper noun on near every wear. Unfortunately, the glory didn't last long, and Paris moved on to other business concern ventures that garnered more appeal.
Oprah Winfrey – Ain
In 2011, Oprah was the talk of the town when she decided to operate a cable channel attainable to 80 meg homes. The Oprah Winfrey Network (Own) was an ambitious idea, with more than $500 million invested in the project. Unfortunately, her team failed from the beginning to understand what people responded to and how they watched cablevision channels. Low ratings and viewership hit the network hard.
OWN was arguably Oprah's biggest failure, only unlike other celebrities on our list, Oprah still hasn't completely given up on her business venture. Who knows? Peradventure OWN is finally on track to pull itself out of some dark days.
Jennifer Lopez – Madre'due south Restaurant
Celebrities have a thing for restaurants, just not all restaurants have a thing for celebs. Madre's was inspired by J.Lo's mom and grandmother's cooking, and it started its bumpy journey in 2002 in Pasadena, California. In her own words, she described information technology as "a family unit restaurant with a little bit of sexiness to information technology."
It lasted almost six years before mysteriously closing its doors in 2008. The Latin American restaurant featured some of the culture'south near typical dishes, only J.Lo'southward proper name wasn't enough to entice the public. No official reason was ever given for the decision to close it down, simply the assumption is poor performance.
Naomi Campbell & Friends – The Fashion Cafe
In her prime number (mid-1990s), Naomi Campbell decided it was time to enjoy some passive income in the form of business concern ventures. In 1995, she became the confront of a glamour-themed cafe chain chosen Mode Café along with Christy Turlington, Elle Macpherson and Claudia Schiffer.
It had a solid get-go and expert buzz, but the novelty eventually faded, and it failed to make the necessary turn a profit to stay open. To top it all off, the business partners got involved in a coin laundering scandal, making it clear that it was ameliorate for this cafe chain to close its doors for good.
Steven Spielberg – Dive Restaurant
Steven Spielberg's mind seems to overflow with astonishing ideas, but Dive Restaurant wasn't 1 of them. In 1994, he decided to open a nautical-themed restaurant in Beverly Hills. The place was filled with impressive dive-themed decor and even featured a simulated diving session experience.
That notwithstanding wasn't enough to charm the demanding Beverly Hills crowd, and the novelty of it started to wear off, resulting in dismal trade sales, which were a huge selling signal for the concern. In 1999, the eating place officially shut its doors and became a learning lesson for what not to exercise in the niche of themed restaurants.
Hulk Hogan – Pastamania Restaurant
When Hulkmania was at its peak, Blob Hogan decided to introduce Minneapolis' Mall of America to the ultimate Hulk eating feel. Who wouldn't want to exist strong and tough like Hulk Hogan, correct? Although it definitely seemed similar a solid concern investment idea back in 1995, it didn't work out in the end.
The carte wasn't that dissimilar from your standard pasta eating place menu, apart from the fact that it was branded by everyone's favorite wrestling guy. The restaurant shut its doors almost a yr later, allowing the Pastamania proper name to be used by a fast nutrient chain from Singapore.
Donald Trump – Trump Mortgage
The Trump Shuttle wasn't the only Trump business organisation venture that failed to profit back in the 24-hour interval. With his focus on real estate, it's not surprising he tried to dip into the mortgage business. The success of this venture was very short lived.
Most of the Trump Mortgage failure came downward to poor timing, equally the 2006 recession struck, and the mortgage lending industry began to crumble with the market crash. Everything was questioned, including the CEO's groundwork. In 2007, Trump Mortgage officially closed downwardly later on failing to thrive in the struggling market.
Pete Wentz – Angels & Kings
In 2007, Pete Wentz, a popular fellow member of Autumn Out Male child, and several other musicians decided it was fourth dimension to open a nightclub. Wentz claimed he just wanted a place for him and his friends to hang out. Later on, the club launched in several other locations, including Chicago.
The hype of the celebrity-owned nightclub died down later it was reported that the New York location got caught serving alcohol to minors and had to shut down in 2012. A few years later on, they also closed the Chicago location — and that was the end of the Fall Out Male child nightclub.
Jim McMahon – McMahon'south Steakhouse
Ex-Chicago Deport Jim McMahon fabricated a name for himself in the NFL in the '90s and besides thought he could make a name for himself by investing in a eating house — a steakhouse in Chicago. Unfortunately, McMahon got into business with some pretty questionable characters whose reputation wasn't pristine among those in the bank loan world.
The eatery was first called Chicago Stadium, but the owners of the Chicago Stadium quickly sued McMahon and his other business organisation partners. According to reports, the restaurant participated in some shady business practices, and McMahon had to distance himself from it.
Eva Longoria – Beso Eating house and Nightclub
Eva Longoria is no stranger to the culinary scene — remember her role as a guest judge on season 4 of MasterChef? In 2008, she backed a Los Angeles restaurant chosen Beso. The identify was a hot spot for quite some fourth dimension before closing its doors in 2011 among a ton of drama.
The business filed for bankruptcy in order to restructure $v.7 million worth of debt, and Longoria has reportedly been involved in several lawsuits. Beso later relaunched nether new ownership (without Longoria) and with a new name, Viva Hollywood, but that eating house eventually closed every bit well.
Jay-Z – J-Hotels
The world's get-go billionaire rapper is no stranger to successful business ventures, merely the idea that "the sky is the limit" definitely doesn't employ here. Jay-Z definitely reached a limit with his investment in J-Hotels. The luxury hotel was supposed to open up in Manhattan'due south Chelsea surface area, merely lack of funding and a recession halted the structure.
The recession going on at the time basically made information technology harder to get the funding needed, and the whole business concern project was put on concord in 2008. It looks like it never resumed, probably considering Jay-Z became interested in plenty of other appealing ventures.
Natalie Portman – Té Casan
Let'south take a break from restaurants and hotels for a while and go to 2008, which really seemed to exist a prime time for celebrity business organisation investments and hotels. Natalie Portman was ahead of her time when she collaborated with Té Casan to create a vegan shoe line.
Every bit a long-term vegan, she felt the need to invest in something she believes in, and she felt a shoe line was definitely the way to go. Unfortunately, the high price of the shoes didn't exactly appeal to consumers — not even diehard vegans — and the shoe line'south website disappeared past the end of 2008.
Jermaine Dupri – Café Dupri
Jermaine Dupri rose to popularity in the '90s. From forming the iconic Kris Kross to producing music for all your favorite celebrities, Dupri was definitely at the acme of his game. In 2005, he decided to try other business ventures and invested in a large café in Atlanta that seated 105 guests.
The card consisted of high-quality dishes that were also considered healthy. Although it seemed similar a decent idea and the buffet had big expansion dreams, the success didn't last. Three years later on, Cafe Dupri had to shut its doors subsequently struggling to brand plenty profit.
Beyonce – House of Deréon
That'southward right — Queen B has experienced many failures forth with her success. Sounding like a house out of Game of Thrones, Firm of Deréon was a fashion line Beyonce collaborated with her female parent, Tina Knowles, to create in 2006. The name paid tribute to Beyonce's maternal grandmother.
The style mixed the influences of hip hop with high fashion, and although it seemed like it was taking off at first, it was ultimately criticized for its high prices. In 2008, the line besides came under burn down for its ad with little girls wearing full makeup and loftier heels. The star discontinued the line in 2012 without formal find.
Lily Allen – Lucy in Disguise
Lily Allen likewise tried to fiddle in the fashion world. The eccentric singer is known for her mode sense, so it seemed only fair to see if the residue of the world (or at least London) would catch on to her await. She opened Lucy in Disguise, a vintage clothing store, with her sister in 2010.
The store's location was one of the reasons for its failure — London'due south Covent Garden. High real estate prices forced the company to move to a somewhat cheaper property in Soho, only it wasn't enough to salve the business concern, and it ceased operations in 2012.
Neil Young – PonoPlayer
PonoPlayer was a adequately mod concern venture launched by Neil Young in 2014. Information technology was actually successfully crowdfunded via the popular platform Kickstarter, where it raised $6.2 million. The device was advertised equally a modern-day iPod with hi-resolution music service, but it was criticized for its poor design and high cost tag ($400).
Three years later, Neil Immature ceased operations and closed the PonoMusic shop, which sold downloadable music. The reason? Tape companies were charging too much for hello-res music formats, and the business organization couldn't brand a profit, despite the steep cost of PonoPlayer and its initial funds.
Sylvester Stallone, Arnold Schwarzenegger & Bruce Willis – Planet Hollywood
Planet Hollywood was a '90s sensation and boasted more than than 100 locations. Stallone, Schwarzenegger and Willis were its investors and the faces promoting the brand. The initial hype of eating among pop movie props attracted endorsements from some of the biggest Hollywood names, but information technology wasn't all sunshine and rainbows.
The business organization filed for defalcation twice and reduced its number of restaurants to less than a dozen to ensure information technology could financially sustain itself and make a profit. This prompted investors like Arnold Schwarzenegger to motility on and cut ties with the business. Planet Hollywood is still around merely with much less hype and fewer restaurants.
Kevin Costner – The Clubhouse
Themed restaurants were extremely popular investments for celebrities, and Kevin Costner was in on the thought too. In 1997, he dabbled in the food industry in an attempt to make more than money, of form. The theme of The Clubhouse was golf game, and unlike many other celebrity restaurants, it managed to terminal a surprisingly long time.
Based in Costa Mesa, California, it featured the exclusive wait and style of a golf clubhouse that was open to the public. Ironically, it opened right beyond from Planet Hollywood, which was closing at the time. The business began to neglect in 2007.
Brusk Schilling – 38 Studios
A unique business venture for its time, 38 Studios was the abstraction of Curt Schilling, who had a different vision than nearly sports celebrities. The old Red Sox pitcher wanted to endeavor something new, so he launched a video game business in 2006. Unfortunately, game development takes years, and that was hard to sell to investors.
The visitor released an action role-playing game called Kingdoms of Amalur: Reckoning. Unfortunately for Schilling, the gaming visitor declared bankruptcy in 2012 subsequently but releasing a single game. Despite the business organization' failure, the game was pretty well received by the gaming community.
Pharrell Williams – Qream Liqueur
Pharrell Williams always had big visions and a good ear for music, but in 2011, the popular producer ventured into the world of liqueur with much less impressive results. He worked with Diageo to launch Qream strawberry and peach liqueurs, specifically marketed to women.
Williams blamed Diageo for insufficient marketing efforts to launch the liqueur, and he sued the visitor in 2013 subsequently it appeared to abandon the bargain before the contract was over. The drink wasn't marketed effectively, and the Qream dream died with minimal fanfare.
Flavor Flav – Flavor Flav's Chicken & Ribs
Who doesn't know Flavor Flav? In 2011, the popular rapper decided to combine his love of fast food with business past opening a restaurant in Clinton, Iowa. Although information technology sounds yummy, the business really didn't last that long. In fact, it's ane of the shortest examples of business concern failure on the listing — 3 months.
The eating house closed its doors due to a fallout between Flavor Flav and his business organization partner, Nick Cimino. The two clashed over operations and money management, leading Flav to make up one's mind that fast food really wasn't for him after all — at least when it came to running a business concern.
50 Cent – Magic Stick Safety
Magic Stick was fifty Cent'due south try at a unique concern venture — in condoms. Yeah, you read that right. In 2008, the rapper created a line of condoms, but he apparently failed to understand the reason behind condoms in the start place. His company's condoms were laced with chemicals designed to increase the wearer'southward sexual performance.
The rapper was asked nearly his failed business organization venture, and he said, "It just didn't work out considering I wanted things in it that wouldn't work." P.S.: "Candy Shop" lyrics were written way before the Magic Stick line was launched.
Blake Lively – Preserve
Blake Lively is known for the awesome sense of sense of humour she shares with her fifty-fifty more than awesome husband. In 2014, she decided to launch a lifestyle website. The timing was perfect, as celebrity lifestyle websites were at their peak, only Lively wasn't a big enough lifestyle figure to attract much interest.
Celebrity production endorsements are often too expensive for the general public and tin can also feel fake, which raises concerns when it comes to trust. The website was abandoned about a year later, and her lifestyle venture was never mentioned again. That'south okay, she's nevertheless owning the Instagram game.
Heidi Montag – Heidiwood
Welcome to Heidiwood, a fashion line that failed to connect with its customers and brand sufficient turn a profit. It belonged to Heidi Montag, a pop reality tv set grapheme who wanted to be known for more than merely her dramatic Idiot box roles. She launched Heidiwood in 2007 in collaboration with Anchor Bluish Retail.
Although the line looked promising, customers didn't really intendance for the overpriced items, and her contract wasn't renewed the following year. She returned to reality Television set and is still a prominent figure in the celebrity gossip world, so she bounced back financially from the failed venture.
Nicky Hilton – Nicky O Hotels
Paris Hilton wasn't the just Hilton making money moves. Back in the twenty-four hour period, her sis Nicky Hilton wanted to stay true to her family legacy and open a hotel chain of her ain. Nicky O Hotels was a premier luxury hotel brand, set to launch in Miami and later Chicago.
Hilton planned to piece of work with Roberto Cavalli to blueprint a luxurious penthouse suite for the Miami location. Her ambition was to combine the world of entertainment with luxury and blueprint. Still, the project failed to see the light of solar day subsequently a lawsuit against Hilton highlighted an declared breach of contract.
Jennifer Lopez – Sweetface
Making the listing again, J.Lo's loftier-end Sweetface clothing line was still another failure in the glory fashion world. Attempting to combine urban streetwear with modern style, the line failed to evangelize anything unique that couldn't be plant for a cheaper price in a shop downwards the street — according to shoppers' feedback.
Customers complained about high prices besides as the quality of the apparel. Negative feedback and poor sales forced Kohl'southward to completely cease the line's production in 2009. Fun fact: Sweetface was J.Lo's nickname, given to her past her erstwhile manager.
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Source: https://www.consumersearch.com/technology/celebrity-business-disasters-donald-trump?utm_content=params%3Ao%3D740007%26ad%3DdirN%26qo%3DserpIndex
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