Donald Trump and Obama Sings See You Again
Investing in a business to ensure you take a stable income seems like a wise decision — until it isn't. Even celebrities who already have a ton of cash can't be careless about choosing investments if they want to stay rich. From restaurants to habiliment lines, the opportunities are plentiful, but it takes conscientious planning to avoid embarrassing business disasters.
Depending on your age, you lot probably remember these unforgettable celebrity business concern flops. Remember you can approximate who lost the most? Let'due south accept a look!
Britney Spears – Nyla Restaurant
When Britney Spears opened Nyla Restaurant in 2002, the fizz was existent. 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 Metropolis.
Her departure from the business occurred in the same yr afterwards she butted heads with the management, who claimed she was responsible for the eating place'southward debt and other fiscal bug. Fun fact: The eating place was supposed to be called "Pinky," which was the nickname Justin Timberlake gave Britney when they were dating.
The Kardashians – Kardashian Kard
The Kardashians are definitely business moguls, simply not all their business organisation ventures have been a success. Take the Kardashian Kard, for instance. In 2010, the Kardashians announced a controversial debut of a prepaid debit bill of fare featuring the sisters' faces on the front. The business failed a month afterward its launch when the legality of certain fees raised concerns.
An attorney claimed the high fees were unfair and unethical, specially 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 have firsthand activeness and terminate the business to protect their reputation.
Kanye Westward – Pastelle Habiliment Line
Yeezy has had enough of style debuts during his career, and not all of them have been successful — or inspiring. Before his other fashion lines, in that location was Pastelle, the debut that never saw a debut. In 2006, Kanye planned to release his Pastelle clothing line in collaboration with Adidas.
In brusque, a lot of drama happened, and co-ordinate to reports, the investors didn't desire to invest a sufficient corporeality of coin to go the business off the ground. Kanye himself said you demand 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 man of affairs, but not many people know about his business failures. One of those epic failures was a very ambitious airline. Back in 1988, Donald Trump introduced his ain branded airline shuttle. The luxury shuttle service was supposed to run betwixt Washington D.C., Boston and New York.
Scarlet carpets, gold and other luxury elements toll Trump $one million per aircraft. Three months after the launch, ane of his planes almost crashed. The virtually miss, rising fuel prices and a banking concern loan of $380 million made Trump decide it was time 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 proper name for herself, but not every idea resulted in cash in the bank. In 2008, Paris Hilton for Dollhouse was released.
Information technology was a collaboration betwixt Hilton and the popular habiliment label, and absolutely anybody was buzzing about it. The collection basically had Paris' face and name on almost every article of article of clothing. Unfortunately, the celebrity didn't terminal long, and Paris moved on to other business concern 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 80 one thousand thousand homes. The Oprah Winfrey Network (OWN) was an aggressive idea, with more than than $500 meg invested in the project. Unfortunately, her team failed from the beginning to understand what people responded to and how they watched cable channels. Low ratings and viewership hit the network hard.
Own was arguably Oprah's biggest failure, but unlike other celebrities on our list, Oprah still hasn't completely given up on her business venture. Who knows? Maybe Ain is finally on track to pull itself out of some dark days.
Jennifer Lopez – Madre's Restaurant
Celebrities have a matter for restaurants, but non all restaurants have a thing for celebs. Madre's was inspired by J.Lo's mom and grandmother's cooking, and information technology started its bumpy journey in 2002 in Pasadena, California. In her ain words, she described it as "a family eating place with a little bit of sexiness to it."
It lasted about six years before mysteriously closing its doors in 2008. The Latin American eatery featured some of the culture's nigh typical dishes, simply J.Lo's name wasn't enough to entice the public. No official reason was ever given for the decision to shut information technology downward, just the assumption is poor performance.
Naomi Campbell & Friends – The Fashion Buffet
In her prime number (mid-1990s), Naomi Campbell decided it was time to savour some passive income in the form of business ventures. In 1995, she became the face of a glamour-themed buffet chain called Fashion Café forth with Christy Turlington, Elle Macpherson and Claudia Schiffer.
It had a solid start and good buzz, but the novelty somewhen faded, and information technology failed to make the necessary profit to stay open. To peak it all off, the concern partners got involved in a money laundering scandal, making information technology clear that it was better for this buffet chain to close its doors for good.
Steven Spielberg – Dive Eating house
Steven Spielberg's mind seems to overflow with amazing ideas, but Dive Restaurant wasn't 1 of them. In 1994, he decided to open up a nautical-themed eating house in Beverly Hills. The place was filled with impressive dive-themed decor and even featured a simulated diving session feel.
That nevertheless wasn't enough to charm the enervating Beverly Hills crowd, and the novelty of information technology started to wear off, resulting in dismal trade sales, which were a huge selling point for the concern. In 1999, the restaurant officially shut its doors and became a learning lesson for what not to do in the niche of themed restaurants.
Hulk Hogan – Pastamania Eating place
When Hulkmania was at its peak, Hulk Hogan decided to innovate Minneapolis' Mall of America to the ultimate Hulk eating experience. Who wouldn't want to be strong and tough like Hulk Hogan, right? Although information technology definitely seemed like a solid business investment idea dorsum in 1995, it didn't work out in the terminate.
The carte du jour wasn't that dissimilar from your standard pasta restaurant carte du jour, apart from the fact that information technology was branded by everyone'due south favorite wrestling guy. The eatery shut its doors almost a year later, allowing the Pastamania proper noun to exist used by a fast food chain from Singapore.
Donald Trump – Trump Mortgage
The Trump Shuttle wasn't the only Trump business venture that failed to plow a profit back in the solar day. With his focus on real estate, it'south non surprising he tried to dip into the mortgage business. The success of this venture was very short lived.
Almost of the Trump Mortgage failure came down to poor timing, as the 2006 recession struck, and the mortgage lending manufacture began to crumble with the market crash. Everything was questioned, including the CEO'due south groundwork. In 2007, Trump Mortgage officially closed downwards later failing to thrive in the struggling market place.
Pete Wentz – Angels & Kings
In 2007, Pete Wentz, a popular member of Fall Out Boy, and several other musicians decided it was time to open up a nightclub. Wentz claimed he but 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-endemic nightclub died down after 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, they also closed the Chicago location — and that was the cease of the Autumn Out Male child nightclub.
Jim McMahon – McMahon'southward Steakhouse
Ex-Chicago Comport Jim McMahon made a proper name for himself in the NFL in the '90s and besides idea he could brand a proper noun for himself by investing in a restaurant — a steakhouse in Chicago. Unfortunately, McMahon got into business concern 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 concern partners. According to reports, the restaurant participated in some shady business concern practices, and McMahon had to altitude himself from information technology.
Eva Longoria – Beso Restaurant and Nightclub
Eva Longoria is no stranger to the culinary scene — think her role as a invitee approximate 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 earlier closing its doors in 2011 amid a ton of drama.
The business filed for bankruptcy in order to restructure $5.vii million worth of debt, and Longoria has reportedly been involved in several lawsuits. Beso later relaunched under new ownership (without Longoria) and with a new name, Viva Hollywood, but that restaurant somewhen closed besides.
Jay-Z – J-Hotels
The world's kickoff billionaire rapper is no stranger to successful business ventures, simply the idea that "the sky is the limit" definitely doesn't apply hither. 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 time basically fabricated it harder to get the funding needed, and the whole business projection was put on hold in 2008. It looks like information technology never resumed, probably because Jay-Z became interested in plenty of other appealing ventures.
Natalie Portman – Té Casan
Let'south accept a break from restaurants and hotels for a while and get to 2008, which actually seemed to be a prime number fourth dimension 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 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's website disappeared by the stop 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 concern ventures and invested in a large café in Atlanta that seated 105 guests.
The menu consisted of high-quality dishes that were as well considered healthy. Although it seemed like a decent idea and the cafe had big expansion dreams, the success didn't final. 3 years later, Buffet Dupri had to shut its doors after struggling to make plenty profit.
Beyonce – Firm of Deréon
That'south right — Queen B has experienced many failures forth with her success. Sounding similar 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's maternal grandmother.
The style mixed the influences of hip hop with high manner, and although it seemed similar it was taking off at start, it was ultimately criticized for its high prices. In 2008, the line too came under burn down for its ad with piddling girls wearing full makeup and high heels. The star discontinued the line in 2012 without formal notice.
Lily Allen – Lucy in Disguise
Lily Allen likewise tried to dabble in the fashion earth. The eccentric vocaliser is known for her fashion sense, so it seemed only fair to come across if the rest of the earth (or at least London) would catch on to her look. She opened Lucy in Disguise, a vintage clothing store, with her sister in 2010.
The store'south location was one of the reasons for its failure — London's Covent Garden. Loftier real estate prices forced the visitor to movement to a somewhat cheaper property in Soho, simply it wasn't enough to save the business, and it ceased operations in 2012.
Neil Young – PonoPlayer
PonoPlayer was a fairly modern business venture launched past Neil Young in 2014. It was really 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 price tag ($400).
Three years later, Neil Young ceased operations and closed the PonoMusic store, which sold downloadable music. The reason? Tape companies were charging also much for how-do-you-do-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 brand. The initial hype of eating among pop movie props attracted endorsements from some of the biggest Hollywood names, but it wasn't all sunshine and rainbows.
The business filed for defalcation 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 move on and cut ties with the business. Planet Hollywood is however around just 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 too. In 1997, he dabbled in the food industry in an attempt to brand more money, of class. The theme of The Clubhouse was golf, and unlike many other celebrity restaurants, it managed to final a surprisingly long fourth dimension.
Based in Costa Mesa, California, it featured the exclusive expect and style of a golf clubhouse that was open up to the public. Ironically, it opened correct across from Planet Hollywood, which was closing at the time. The business organisation began to fail in 2007.
Short Schilling – 38 Studios
A unique concern venture for its fourth dimension, 38 Studios was the abstraction of Curt Schilling, who had a dissimilar vision than almost sports celebrities. The former Carmine Sox pitcher wanted to try something new, so he launched a video game business organization in 2006. Unfortunately, game development takes years, and that was hard to sell to investors.
The company released an action role-playing game called Kingdoms of Amalur: Reckoning. Unfortunately for Schilling, the gaming company alleged bankruptcy in 2012 after simply releasing a single game. Despite the business organization' failure, the game was pretty well received past the gaming community.
Pharrell Williams – Qream Liqueur
Pharrell Williams always had large visions and a adept 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 company in 2013 after information technology appeared to abandon the deal before the contract was over. The drink wasn't marketed effectively, and the Qream dream died with minimal fanfare.
Flavor Flav – Flavour Flav's Chicken & Ribs
Who doesn't know Flavour Flav? In 2011, the popular rapper decided to combine his beloved of fast nutrient with business organisation past opening a restaurant in Clinton, Iowa. Although it sounds yummy, the concern really didn't last that long. In fact, it'due south one of the shortest examples of business failure on the list — three months.
The restaurant closed its doors due to a fallout betwixt Flavor Flav and his concern partner, Nick Cimino. The two clashed over operations and coin management, leading Flav to decide that fast nutrient really wasn't for him after all — at least when it came to running a business.
fifty Cent – Magic Stick Prophylactic
Magic Stick was fifty Cent's attempt at a unique business venture — in condoms. Yeah, yous read that correct. In 2008, the rapper created a line of condoms, but he evidently failed to understand the reason backside condoms in the starting time place. His visitor'south condoms were laced with chemicals designed to increase the wearer'south sexual performance.
The rapper was asked nearly his failed business organisation venture, and he said, "It just didn't work out because I wanted things in it that wouldn't work." P.Due south.: "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 humor she shares with her even more crawly husband. In 2014, she decided to launch a lifestyle website. The timing was perfect, as celebrity lifestyle websites were at their peak, but Lively wasn't a large plenty lifestyle figure to attract much interest.
Celebrity production endorsements are often likewise expensive for the general public and can also experience fake, which raises concerns when it comes to trust. The website was abandoned near a year later, and her lifestyle venture was never mentioned again. That'southward okay, she's withal owning the Instagram game.
Heidi Montag – Heidiwood
Welcome to Heidiwood, a fashion line that failed to connect with its customers and make sufficient turn a profit. It belonged to Heidi Montag, a popular reality television graphic symbol who wanted to be known for more than than just her dramatic Goggle box roles. She launched Heidiwood in 2007 in collaboration with Ballast Blue Retail.
Although the line looked promising, customers didn't really care for the overpriced items, and her contract wasn't renewed the following twelvemonth. She returned to reality Goggle box and is nevertheless a prominent figure in the glory gossip world, then she bounced dorsum financially from the failed venture.
Nicky Hilton – Nicky O Hotels
Paris Hilton wasn't the only Hilton making money moves. Dorsum in the day, her sister Nicky Hilton wanted to stay true to her family unit legacy and open a hotel chain of her own. Nicky O Hotels was a premier luxury hotel make, set 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 appetite was to combine the globe of entertainment with luxury and design. However, the project failed to run into the light of day after a lawsuit confronting Hilton highlighted an alleged breach of contract.
Jennifer Lopez – Sweetface
Making the listing again, J.Lo'southward high-end Sweetface wear line was nevertheless another failure in the celebrity way globe. Attempting to combine urban streetwear with modernistic fashion, the line failed to deliver annihilation unique that couldn't exist found for a cheaper price in a store down the street — according to shoppers' feedback.
Customers complained about high prices as well as the quality of the clothes. Negative feedback and poor sales forced Kohl'southward to completely stop the line's production in 2009. Fun fact: Sweetface was J.Lo's nickname, given to her by 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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