DISCLAIMER: This article was first published in April 2025
On Sunday, President Donald Trump called business leaders who criticize his tariffs “bad at business.” But his comments quickly sparked a wave of responses, with many pointing out the irony of his words. After all, Trump’s business history is marked by ups and downs, including multiple bankruptcies.
Trump, who prides himself on being a “great businessman,” posted on his Truth Social platform:
“THE BUSINESSMEN WHO CRITICIZE TARIFFS ARE BAD AT BUSINESS, BUT REALLY BAD AT POLITICS. THEY DON’T UNDERSTAND OR REALIZE THAT I AM THE GREATEST FRIEND THAT AMERICAN CAPITALISM HAS EVER HAD!”
At first, Trump’s statement might sound bold and confident. However, if you examine his business history, things become confusing.
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Trump’s business career has been a roller coaster ride. While he built some of New York’s most famous buildings, such as the Trump Tower, he faced significant financial challenges. He has filed for bankruptcy six times—yes, six times. And it’s not like these were small companies—Trump’s casinos and hotels were major businesses.
One of the most famous bankruptcies was the collapse of his Trump Taj Mahal casino. It’s hard to imagine a businessman who repeatedly goes bankrupt advising others about business success.
However, Trump’s words on Sunday didn’t mention his past failures. Instead, he targeted those who disagreed with his policies.
Trump’s comments did not go unnoticed. Many business leaders and critics took to social media to point out the irony of his statement.
Unhinged pic.twitter.com/Hts8qq8RtP
— Aaron Rupar (@atrupar) April 20, 2025
Ah yes, Mr. Six-Time Bankruptcy is here to lecture actual businesspeople—who correctly understand that tariffs will crush their businesses and raise prices for consumers—that they are the ones bad at business. pic.twitter.com/xPGtDMjmTw
— Republicans against Trump (@RpsAgainstTrump) April 20, 2025
The man who has filed bankruptcy multiple times is telling over 60% of America’s CEOs they are bad at business.
Lol classic. pic.twitter.com/SJXbctaBpk
— Boston Smalls (@smalls2672) April 21, 2025
The only responsible behavior of big US businessmen is to gang up & protest collectively against Trump’s mad tariffs.
They do understand that Trump is seriously harming their companies & the whole US economy & they are responsible to their stakeholders. https://t.co/4BxT89STAq— Anders Åslund (@anders_aslund) April 20, 2025
I avoid financial tips from bankrupt individuals.
— BLOCKXS.COM (@blockxs) April 20, 2025
Another user, Frank J. Fleming, joked:
“I guess pretty much all businessmen are bad at business.”
I guess pretty much all businessmen are bad at business. https://t.co/mHd7turXiL
— Frank J. Fleming (@IMAO_) April 20, 2025
Critics also pointed out that many people Trump called “bad at business” included well-known CEOs like Elon Musk, Jamie Dimon, and Bill Ackman. These leaders have built huge, successful companies, and many felt Trump’s comments insulted their hard work.
So President Trump is saying that Elon Musk, his brother Kimbal Musk, Jamie Dimon, and Bill Ackman are bad at business? pic.twitter.com/tugEfz7QJy
— Yashar Ali 🐘 (@yashar) April 20, 2025
Trump also called himself the “greatest friend” of capitalism. But for many, this statement felt more like wishful thinking than reality. A true friend of capitalism would likely promote stable and fair policies that help businesses grow rather than harm them with tariffs.
It is essential to remember that capitalism is intended to foster competition, innovation, and growth. When the government interferes too much—whether through tariffs or other regulations—it can hurt the system it’s trying to protect. Many business leaders argue that the best way to help businesses is to create an environment where they can compete and thrive, not by punishing them with taxes on imports.
Featured image via Political Tribune Gallery
