Trump’s real-estate empire pays the price for his politics

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Former US president Donald Trump’s slashing rhetorical style and divisive politics allowed him to essentially take over the Republican Party. His supporters are so devoted that most believe his false claim that he lost the 2020 election because of voter fraud.

But the same tactics that have inspired fierce political loyalty have undermined Mr Trump’s business, built around real-estate development and branding deals that have allowed him to make millions by licensing his name.

Mr Trump’s business brand was once synonymous with wealth and success, an image that now clashes sharply with a political brand rooted in the anger of his largely rural and working-class voter base. His presidency is now associated in the minds of many with its violent end, as supporters stormed the US Capitol on 6 January.

Those searing images, along with years of bitter rhetoric, are costing Mr Trump money. Revenues from some of his high-end properties have declined,…

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