Company once cloaked Trump in gilded fame. Now it faces felonies, debt and toxic brand.
Donald Trump’s business brought him international fame, a hit television show, a presidential résumé and, on Thursday, an indictment in New York State Court that could damage both his financial and political futures.
The full impact on Trump’s business of the 10 felony counts brought against it by Manhattan District Attorney Cyrus Vance Jr. (D) — as well as 15 felony counts against his chief financial officer — remains to be seen. The company and CFO Allen Weisselberg pleaded not guilty to all the charges. Trump was not charged in the case.
The indictment comes after nearly six years of his company enduring one blow after another wrought by Trump’s political career. That trajectory began with the loss of merchandising deals during the early days of his first campaign, continued with the loss of branding and management agreements during his presidency, and culminated with a wave of partners vowing to no longer do business with him following the Jan. 6 attack on the U.S. Capitol.
Trump will remain a wealthy man regardless of whether his company is convicted of any of the charges. But the indictment adds to a growing pile of uncertainties about his company that experts say makes its future less clear than at any time since Trump’s much publicized collapse in Atlantic City and New York in the 1990s.
https://www.msn.com/en-us/news/politics/company-once-cloaked-trump-in-gilded-fame-now-it-faces-felonies-debt-and-toxic-brand/ar-AALHA0x
That gold was just cheap spray paint.
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