Moneytips Tallies Up the Financial Losses from Trump's Infamous Remarks about Mexicans
Donald Trump says he is worth over $10 billion according to his FEC personal financial disclosure. How much will his infamous remarks about Mexican immigrants cost him?
Trump would have received $2.7 million annually over the next 5 years from Univision, who has dropped the Spanish-language simulcast and digital rights of the Miss USA pageant that Trump co-owns with NBCUniversal. Meanwhile, NBC says they are willing to continue the Celebrity Apprentice series -- without Trump, cutting him out of $32.5 million. We wonder who got to say, "You're fired!"
A licensing agreement with Macy's for a Trump-branded line of menswear brought in roughly $3 million annually for the Donald and was supposed to hold through 2018, adding up to a loss of $10.5 million that he would have received over the next three years. Serta has also declined to renew its licensing agreement for Trump Home-branded mattresses when it expires at the end of 2015, costing him roughly $3 million in potential annual revenue (based on a midpoint of the $1-5 million reported for the agreement on Trump's FEC disclosure).
NASCAR, ESPN, and the PGA have cancelled bookings to hold events such as tournaments and awards ceremonies at Trump hotels, golf courses and other properties. Assorted other businesses have no doubt decided against choosing Trump locations for their corporate events. We peg the loss of earnings from such bookings at $2 million.
Among the Trump contracts New York City is reviewing is a $230 million golf course deal. The city may not legally back out of it, but it appears that they won't be renewing old deals or making new ones. Mayor Bill de Blasio says that Trump's "hateful language has no place in our city." Let's say the loss of faith and business deals costs him 1 percent of the golf course deal.
Ora TV has cancelled a new show that was to feature Trump and involve the business sides of real estate and beauty pageants. Ironically, Ora TV is owned by Carlos Slim, the second-richest man on earth, who happens to be Mexican. Ay caramba!
Thus far that brings Trump's TOTAL LOSSES TO $68.8 MILLION.
On the other hand, he is now spending money on his self-financed run for president of the United States. We can't say how long the Donald will stay in the race, but we estimate he'll have to put up $50 million of his own money to make a serious bid for the Republican presidential nomination. Both Steve Forbes ($69 million) and Ross Perot ($71 million) spent more on their self-financed campaigns, but they each ran twice. (We're not counting the Donald's earlier aborted efforts.) If his words cost him the White House, and he spends 50 mill, then he would suffer a total loss of $118.8 million.
We admit our numbers are estimates, but if Trump can say he's worth $10 billion...
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