NBC and Macy’s Fire Trump: What’s Donald Trump’s Net Worth Now?
Billionaire Donald Trump probably thought his June 16 presidential candidacy announcement would be a triumphant moment for him — but instead of getting featured in headlines for his merits as a presidential candidate, the real estate tycoon is getting blasted for racist remarks he made during his speech.
Donald Trump’s Racist Remarks About Mexican Immigrants
On his first day of campaigning, Trump made offensive comments about Mexico and illegal immigrants. “When Mexico sends its people, they’re not sending their best,” he said. “They’re sending people who have lots of problems. They’re bringing drugs. They’re bringing crime. They are rapists, and some are good people but I speak to border guards and they tell us what we’re getting.”
Trump also said that he would build a “great wall” along the United States’ southern border and make Mexico pay for it.
Trump has since reiterated his remarks with an interview with Don Lemon on CNN Tonight. “Well, if you look at the statistics of people coming, you look at the statistics on rape, on crime, on everything coming in illegally into this country, it’s mind-boggling!” he told Lemon.
Trump’s offensive remarks have not sat well with many Americans, particularly members of Latina American communities. As actress America Ferrera a wrote in a Huffington Post op-ed, his remarks might have had the opposite intended effect — instead of drawing potential voters, he galvanized the opposition.
“Remarks like yours will serve brilliantly to energize Latino voters and increase turnout on election day against you and any other candidate who runs on a platform of hateful rhetoric,” wrote Ferrera.
Donald Trump’s Net Worth After Univision, Macy’s and NBC Fire Him
Another unintended consequence has been the damage wrought on Trump’s business connections, as companies have dropped the billionaire for his offensive remarks. Companies that have severed business ties with Trump include:
- Macy’s: The department store dumped Trump, who has made appearances in Macy’s commercials and had a line of menswear that has been in the department store since 2004.
- NBC: The network, which airs Trump’s hit TV series “The Apprentice” as well as the Miss Universe pageant, ended its business relationship with Trump. “Celebrity Apprentice,” however, falls under a separate licensing deal and will continue to air on the network.
- Televisa: Televisa, a Mexico-based broadcasting company, cut ties with Trump and said its country would not be sending a representative to participate in Miss Universe.
- Univision: Univision, a global Hispanic, Spanish-language television network, was the first company to end its relationship with Trump over his remarks.The broadcaster also announced it would not be airing the Trump-owned Miss USA pageant on July 12 — as well as the Miss Universe pageant — and would cease working on all other projects with Trump.
Trump might be a billionaire worth $8.7 billion by his own estimation (though Forbes estimates his real net worth is less than half that at $4.1 billion). But he might suffer financially from his remarks. The cancellation of his partnerships with Macy’s, the Miss USA and Miss Universe pageants, and NBC for “Celebrity Apprentice” are estimated to cost him a combined $50.5 million, according to The Wrap.
Then there is Trump’s reputation and brand. Trump puts his brand’s net worth at $3.3 billion — Forbes puts it at $125 million — but a dive in his public esteem could also deflate his brand’s value.
Trump is now suing Univision in response, filing a lawsuit this week claiming $500 million in damages, reports ABC News. The Los Angeles Times reports Trump said Univision breached its contract with the Miss Universe pageant. The lawsuit also alleges Univision pressured NBC to cut ties with the billionaire.
Donald Trump Hotels Hit With Credit Card Breach
Trump customers might also be motivated to take their business elsewhere — and not just because of Trump’s racist remarks. CNBC reports the Trump Hotel Collection recently announced a major credit card breach, discovered through fraudulent charges made to debit and credit cards charged at the hotels.
Eric Trump, executive vice president of development and acquisitions at The Trump Organization, said in a statement to CNBC: “Like virtually every other company these days, we have been alerted to potential suspicious credit card activity and are in the midst of a thorough investigation to determine whether it involves any of our properties.”
Photo credit: Gage Skidmore / Flickr
This article originally appeared on GOBankingRates.com: Donald Trump Fired By NBC, Sues Univision for $500 Million
This article by Elyssa Kirkham first appeared on GoBankingRates.com and was distributed by the Personal Finance Syndication Network.