Can We Read the Whistleblowers Paper on Donald Trump?
Investing in a business to ensure you have a stable income seems like a wise decision — until information technology isn't. Even celebrities who already have a ton of greenbacks tin can't exist careless well-nigh choosing investments if they want to stay rich. From restaurants to article of clothing lines, the opportunities are plentiful, but it takes careful planning to avoid embarrassing business disasters.
Depending on your age, you probably remember these unforgettable celebrity business flops. Think you lot can guess who lost the well-nigh? Let'south have a wait!
Britney Spears – Nyla Eating place
When Britney Spears opened Nyla Restaurant in 2002, the buzz was real. She was in her prime years, and it seemed logical she would invest in a different type of business. Nyla was located in the Dylan Hotel in Manhattan, New York City.
Her departure from the business organisation occurred in the same year after she butted heads with the management, who claimed she was responsible for the restaurant's debt and other fiscal issues. Fun fact: The restaurant was supposed to be chosen "Pinky," which was the nickname Justin Timberlake gave Britney when they were dating.
The Kardashians are definitely business moguls, but not all their business organisation ventures have been a success. Have the Kardashian Kard, for case. In 2010, the Kardashians appear a controversial debut of a prepaid debit bill of fare featuring the sisters' faces on the front. The business failed a month after its launch when the legality of certain fees raised concerns.
An attorney claimed the loftier fees were unfair and unethical, particularly for the Kardashians' largely young adult fanbase. Many reputable websites took notation of the "Kardashian Kard ripoff," which prompted the Kardashian family's attorney to take immediate action and cease the business organization to protect their reputation.
Kanye Westward – Pastelle Clothing Line
Yeezy has had plenty of way debuts during his career, and not all of them take been successful — or inspiring. Earlier his other fashion lines, there was Pastelle, the debut that never saw a debut. In 2006, Kanye planned to release his Pastelle wear line in collaboration with Adidas.
In short, a lot of drama happened, and according to reports, the investors didn't want to invest a sufficient amount of money to get the business organization off the ground. Kanye himself said you demand to invest at least $100 million when y'all're making a new make, and it conspicuously didn't happen.
Donald Trump – Trump Shuttle
Number 45 is a known businessman, just not many people know about his concern failures. One of those epic failures was a very ambitious airline. Back 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.
Crimson carpets, gold and other luxury elements cost Trump $1 meg per shipping. Three months afterward the launch, i of his planes almost crashed. The near miss, rising fuel prices and a bank loan of $380 meg made Trump decide it was time to exit his aviation dreams behind and try something else.
Paris Hilton – Dollhouse Drove
It has been proven plenty of times that Paris Hilton knows what she's doing when it comes to business. The Hilton heir has made quite a proper noun for herself, just not every idea resulted in cash in the bank. In 2008, Paris Hilton for Dollhouse was released.
It was a collaboration betwixt Hilton and the popular habiliment characterization, and admittedly everyone was buzzing nearly it. The collection basically had Paris' confront and name on almost every commodity of wear. Unfortunately, the celebrity didn't last long, and Paris moved on to other business ventures that garnered more appeal.
Oprah Winfrey – OWN
In 2011, Oprah was the talk of the town when she decided to operate a cable channel accessible to eighty meg homes. The Oprah Winfrey Network (OWN) was an ambitious idea, with more than $500 1000000 invested in the project. Unfortunately, her team failed from the beginning to sympathise what people responded to and how they watched cable channels. Low ratings and viewership hit the network difficult.
OWN was arguably Oprah's biggest failure, just unlike other celebrities on our list, Oprah yet hasn't completely given up on her business venture. Who knows? Maybe Own is finally on track to pull itself out of some dark days.
Jennifer Lopez – Madre'due south Restaurant
Celebrities take a thing for restaurants, but not all restaurants accept a thing for celebs. Madre's was inspired past J.Lo'south mom and grandmother'south cooking, and information technology started its bumpy journey in 2002 in Pasadena, California. In her own words, she described it as "a family restaurant with a trivial bit of sexiness to information technology."
It lasted about six years before mysteriously endmost its doors in 2008. The Latin American eating house featured some of the culture's virtually typical dishes, but J.Lo'south name wasn't plenty to entice the public. No official reason was ever given for the determination to shut it down, only the assumption is poor operation.
Naomi Campbell & Friends – The Fashion Cafe
In her prime (mid-1990s), Naomi Campbell decided it was time to bask some passive income in the form of business ventures. In 1995, she became the face of a glamour-themed buffet chain called Fashion Café along with Christy Turlington, Elle Macpherson and Claudia Schiffer.
It had a solid get-go and good buzz, but the novelty eventually faded, and it failed to brand the necessary profit to stay open up. To top it all off, the business organization partners got involved in a money laundering scandal, making information technology articulate that information technology was better for this cafe chain to close its doors for proficient.
Steven Spielberg – Swoop Restaurant
Steven Spielberg's mind seems to overflow with amazing ideas, but Swoop Restaurant wasn't one of them. In 1994, he decided to open up a nautical-themed restaurant in Beverly Hills. The place was filled with impressive dive-themed decor and even featured a simulated diving session feel.
That still 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 bespeak for the business. In 1999, the restaurant officially shut its doors and became a learning lesson for what non to exercise in the niche of themed restaurants.
Hulk Hogan – Pastamania Restaurant
When Hulkmania was at its top, Hulk Hogan decided to introduce Minneapolis' Mall of America to the ultimate Hulk eating experience. Who wouldn't want to be strong and tough similar Hulk Hogan, right? Although it definitely seemed like a solid business investment idea dorsum in 1995, it didn't work out in the cease.
The card wasn't that different from your standard pasta eating place card, apart from the fact that it was branded past everyone's favorite wrestling guy. The eating place shut its doors almost a year later, allowing the Pastamania name to exist used by a fast food chain from Singapore.
Donald Trump – Trump Mortgage
The Trump Shuttle wasn't the only Trump business organization venture that failed to turn a profit back in the day. With his focus on real estate, it's non surprising he tried to dip into the mortgage business. The success of this venture was very brusque lived.
Most of the Trump Mortgage failure came down to poor timing, as the 2006 recession struck, and the mortgage lending industry began to crumble with the market place crash. Everything was questioned, including the CEO'due south background. In 2007, Trump Mortgage officially closed down after declining to thrive in the struggling market.
Pete Wentz – Angels & Kings
In 2007, Pete Wentz, a popular fellow member of Fall Out Male child, and several other musicians decided it was time to open a nightclub. Wentz claimed he but wanted a place for him and his friends to hang out. Later, the gild launched in several other locations, including Chicago.
The hype of the celebrity-owned nightclub died down after it was reported that the New York location got caught serving alcohol to minors and had to shut downwardly in 2012. A few years later, they as well closed the Chicago location — and that was the end of the Fall Out Boy nightclub.
Jim McMahon – McMahon'southward Steakhouse
Ex-Chicago Bear Jim McMahon made a name for himself in the NFL in the '90s and also thought he could brand a proper name for himself by investing in a restaurant — a steakhouse in Chicago. Unfortunately, McMahon got into business organization with some pretty questionable characters whose reputation wasn't pristine among those in the depository financial institution loan world.
The restaurant was beginning chosen 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 Restaurant and Nightclub
Eva Longoria is no stranger to the culinary scene — call up her role equally a guest judge on flavor 4 of MasterChef? In 2008, she backed a Los Angeles eatery called Beso. The identify was a hot spot for quite some fourth dimension before closing its doors in 2011 amidst a ton of drama.
The business filed for defalcation in order to restructure $five.7 meg worth of debt, and Longoria has reportedly been involved in several lawsuits. Beso after relaunched under new ownership (without Longoria) and with a new name, Viva Hollywood, but that eating place eventually closed besides.
Jay-Z – J-Hotels
The globe's first billionaire rapper is no stranger to successful business ventures, but the idea that "the sky is the limit" definitely doesn't apply here. Jay-Z definitely reached a limit with his investment in J-Hotels. The luxury hotel was supposed to open in Manhattan's Chelsea expanse, but lack of funding and a recession halted the construction.
The recession going on at the fourth dimension basically made it harder to get the funding needed, and the whole business organisation project was put on hold in 2008. It looks similar it never resumed, probably because Jay-Z became interested in plenty of other appealing ventures.
Natalie Portman – Té Casan
Allow'due south take a interruption from restaurants and hotels for a while and go to 2008, which really seemed to be a prime time for celebrity business investments and hotels. Natalie Portman was ahead of her fourth dimension when she collaborated with Té Casan to create a vegan shoe line.
As a long-term vegan, she felt the demand to invest in something she believes in, and she felt a shoe line was definitely the mode to go. Unfortunately, the high price of the shoes didn't exactly appeal to consumers — not fifty-fifty diehard vegans — and the shoe line's website disappeared by 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 top of his game. In 2005, he decided to try other business concern ventures and invested in a large café in Atlanta that seated 105 guests.
The menu consisted of high-quality dishes that were also considered healthy. Although information technology seemed similar a decent thought and the cafe had large expansion dreams, the success didn't last. Three years later on, Cafe Dupri had to close its doors after struggling to make enough profit.
Beyonce – House of Deréon
That's right — Queen B has experienced many failures along with her success. Sounding like a house out of Game of Thrones, House of Deréon was a fashion line Beyonce collaborated with her mother, Tina Knowles, to create in 2006. The name paid tribute to Beyonce'south 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 also came under fire for its advertisement with lilliputian girls wearing full makeup and high heels. The star discontinued the line in 2012 without formal notice.
Lily Allen – Lucy in Disguise
Lily Allen too tried to dabble in the manner world. The eccentric singer is known for her fashion sense, so it seemed only fair to come across if the rest of the world (or at least London) would take hold of on to her wait. She opened Lucy in Disguise, a vintage clothing store, with her sister in 2010.
The shop's location was i of the reasons for its failure — London's Covent Garden. High real estate prices forced the company to move to a somewhat cheaper property in Soho, simply information technology wasn't enough to save the business, and it ceased operations in 2012.
Neil Immature – PonoPlayer
PonoPlayer was a fairly mod business organization venture launched by Neil Young in 2014. It was really successfully crowdfunded via the popular platform Kickstarter, where it raised $6.two 1000000. The device was advertised equally a modern-day iPod with hi-resolution music service, simply it was criticized for its poor blueprint and high price tag ($400).
Three years later, Neil Young ceased operations and closed the PonoMusic shop, which sold downloadable music. The reason? Record companies were charging too much for hi-res music formats, and the business couldn't make a profit, despite the steep price of PonoPlayer and its initial funds.
Sylvester Stallone, Arnold Schwarzenegger & Bruce Willis – Planet Hollywood
Planet Hollywood was a '90s sensation and boasted more than 100 locations. Stallone, Schwarzenegger and Willis were its investors and the faces promoting the make. The initial hype of eating among popular film props attracted endorsements from some of the biggest Hollywood names, merely it wasn't all sunshine and rainbows.
The business filed for bankruptcy twice and reduced its number of restaurants to less than a dozen to ensure it could financially sustain itself and make a profit. This prompted investors like Arnold Schwarzenegger to motion on and cut ties with the business organisation. Planet Hollywood is still around only 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 idea besides. In 1997, he dabbled in the food industry in an attempt to make more money, of form. The theme of The Clubhouse was golf, and unlike many other glory restaurants, it managed to terminal a surprisingly long time.
Based in Costa Mesa, California, it featured the exclusive await and style of a golf game clubhouse that was open to the public. Ironically, it opened right beyond from Planet Hollywood, which was closing at the time. The business organization began to fail in 2007.
Curt Schilling – 38 Studios
A unique business concern venture for its time, 38 Studios was the brainchild of Curt Schilling, who had a dissimilar vision than most sports celebrities. The former Ruby Sox pitcher wanted to attempt something new, then he launched a video game business in 2006. Unfortunately, game evolution takes years, and that was difficult to sell to investors.
The company released an action part-playing game called Kingdoms of Amalur: Reckoning. Unfortunately for Schilling, the gaming company declared defalcation in 2012 after but releasing a single game. Despite the business' 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, simply in 2011, the pop 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 bereft marketing efforts to launch the liqueur, and he sued the company in 2013 subsequently information technology appeared to carelessness the bargain before the contract was over. The potable wasn't marketed finer, and the Qream dream died with minimal fanfare.
Flavor Flav – Flavor Flav'due south Chicken & Ribs
Who doesn't know Flavor Flav? In 2011, the popular rapper decided to combine his love of fast food with business by opening a restaurant in Clinton, Iowa. Although it sounds yummy, the business actually didn't last that long. In fact, it's ane of the shortest examples of business organisation failure on the list — 3 months.
The eating house airtight its doors due to a fallout between Flavor Flav and his business partner, Nick Cimino. The two clashed over operations and coin direction, leading Flav to determine that fast food actually wasn't for him after all — at least when it came to running a business.
50 Cent – Magic Stick Condom
Magic Stick was fifty Cent's effort at a unique concern venture — in condoms. Yes, y'all read that right. In 2008, the rapper created a line of condoms, but he obviously failed to sympathise the reason behind condoms in the offset identify. His visitor'due south condoms were laced with chemicals designed to increase the wearer'due south sexual performance.
The rapper was asked almost his failed business venture, and he said, "It just didn't piece of work out considering I wanted things in it that wouldn't piece of work." P.S.: "Processed Shop" lyrics were written mode 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 even more awesome husband. In 2014, she decided to launch a lifestyle website. The timing was perfect, as celebrity lifestyle websites were at their peak, just Lively wasn't a big enough lifestyle effigy to attract much involvement.
Celebrity product endorsements are often besides expensive for the full general public and tin also experience fake, which raises concerns when it comes to trust. The website was abased about a year afterward, and her lifestyle venture was never mentioned once again. That's okay, she'southward notwithstanding owning the Instagram game.
Heidi Montag – Heidiwood
Welcome to Heidiwood, a fashion line that failed to connect with its customers and make sufficient profit. Information technology belonged to Heidi Montag, a popular reality television character who wanted to exist known for more than just her dramatic TV roles. She launched Heidiwood in 2007 in collaboration with Anchor Blue Retail.
Although the line looked promising, customers didn't really care for the overpriced items, and her contract wasn't renewed the post-obit year. She returned to reality TV and is yet a prominent figure in the celebrity gossip world, and so she bounced back financially from the failed venture.
Nicky Hilton – Nicky O Hotels
Paris Hilton wasn't the just Hilton making money moves. Dorsum in the day, 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 up to launch in Miami and later Chicago.
Hilton planned to work with Roberto Cavalli to pattern a luxurious penthouse suite for the Miami location. Her ambition was to combine the world of entertainment with luxury and pattern. Nevertheless, the project failed to run into the calorie-free of twenty-four hours after a lawsuit against Hilton highlighted an alleged breach of contract.
Jennifer Lopez – Sweetface
Making the listing again, J.Lo's loftier-end Sweetface article of clothing line was yet some other failure in the celebrity fashion world. Attempting to combine urban streetwear with modernistic mode, the line failed to deliver anything unique that couldn't be found for a cheaper price in a shop down the street — according to shoppers' feedback.
Customers complained about loftier prices too equally the quality of the clothes. Negative feedback and poor sales forced Kohl's to completely stop the line's product in 2009. Fun fact: Sweetface was J.Lo'due south nickname, given to her past her old manager.
Source: https://www.consumersearch.com/technology/celebrity-business-disasters-donald-trump?utm_content=params%3Ao%3D740007%26ad%3DdirN%26qo%3DserpIndex
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