Since losing the 2020 presidential election to Joe Biden, former President Donald Trump has been attempting to shore his failing business fortunes, with some reports suggesting that the Trump Organization is deeply in debt and potentially on the verge of financial collapse.
But if Trump is counting on his voters and supporters helping dig him out the money hole he’s currently in, a new report from Bloomberg suggests he’s going to be badly disappointed:
“They backed Donald Trump in November, and now they aren’t buying what he’s selling.
“Just because I’m a Trump supporter doesn’t mean I have to support him and his personal businesses,” said Brenda Edwards, who owns stone quarries in Texas’s heavily Republican Glasscock County. The 73-year-old said she can afford one of Trump’s hotels but doesn’t care enough to visit. She drinks wine, “but that doesn’t mean I have to buy his wine.”Heather Gibson, another Trump voter in the county, was blunter.“I don’t give a fig about his business,” said Gibson, a mother of four girls and a superintendent who oversees one-room schoolhouses. “He’s got plenty of money.”
“Last year was especially bad for his properties as the pandemic slammed travel. Trump’s Doral golf resort, one of the company’s biggest sources of revenue, brought in $44.2 million in 2020 and the first 20 days of 2021, compared with more than $70 million in prior years. Revenue at his Washington hotel, a hotspot for the Republican elite while its owner was in the White House, dropped 63% from 2019 to 2020.”