Golf resort

Donald Trump lost $18 million on his Irish golf course

Donald Trump has suffered an $18 million loss since buying his luxury golf resort in Doonbeg, County Clare in 2014, according to a recent analysis by Forbes.

Trump acquired the property for $20 million in 2014 and spent another $13 million developing the resort between 2014 and 2019, but still suffered a $14 million loss over the five-year period. .

The resort suffered a further loss of $4.4 million in 2020 despite paying around $600,000 in pandemic grants from the Irish government.

In 2020, The New York Times reported, after looking at 15 years of Trump’s tax returns, that Trump had reported $315.6 million in losses at his golf courses around the world since 2000.

In 2017, Trump, who was recently elected president of the United States, said he “couldn’t care less” about his resort town of Doonbeg.

“I own a large property in Ireland, a wonderful property called Doonbeg,” he said in a joint interview with The Times of London and German newspaper Bild in January 2017.

“What happened was I went and got approval to do this massive, beautiful expansion – that was when I was a developer, now I don’t care…but I learned a lot because…they were using environmental tricks to stop a project from being built in. I found that to be a very unpleasant experience.

“Getting EU approvals would have taken years.

“I don’t think it’s good for a country like Ireland.

“So you know what I did?” I said forget it, I’m not going to build it.”

In 2019, it emerged that Trump’s Irish golf resort had charged Irish police hundreds of euros for extra coffee in “bad weather” during President Trump’s visit in June.

Trump faced similar financial difficulties at his two Scottish stations in Turnberry and Aberdeen.

Trump Turnberry, the jewel in Trump’s European golf crown, has posted losses of $68 million since the former president bought the property for $65 million in 2014.

Trump’s smallest European resort in Aberdeen has suffered losses of $17 million since he bought it in 2012 and posted losses of $1.8 million in 2020 despite receiving $600,000 pandemic grants.

Trump has now recorded more than $100 million in total losses since buying the three European resorts, according to the Forbes report on his UK and Irish financial documents.

A representative for the Trump Organization later responded to the Forbes report, saying the $100 million figure was “dishonest and incredibly misleading.”

The rep noted that Forbes had factored in non-cash items such as depreciation and foreign exchange and said the combined losses at the three sites were closer to $35 million without those factors.

However, the Trump Organization includes both depreciation and currency in “operating losses” in its own financial reports.

The combined value of Trump’s three resorts is estimated at $181 million despite more than $240 million in investment.