Donald Trump's financial disclosure form shows dramatic loss in golf revenue in 2017
Golf and Politics

Donald Trump’s financial disclosure form shows dramatic loss in golf revenue in 2017


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The President of the United States is compelled each year to disclose their financials to give the American public an idea of how they're making money while running the executive branch of the federal government. The disclosure of President Donald Trump is of particular interest because of his Trump Organization, its hundreds of connected LLCs and other high-profile businesses which could -- and, frankly, do -- benefit from him being President.

Those business include almost 20 owned-or-managed golf facilities in the United States, the United Kingdom and abroad. In Donald Trump's financial disclosure form, released by the Office of Government Ethics, Trump showed his golf business suffered dramatically in 2017 compared to the prior year in 2016.

The forms show a 24 percent drop in golf-related revenue for Trump businesses in 2017, earning $214,702,692 in revenue, a drop of approximately $67 million compared to the prior period for the 17 golf companies listed. Of those 17 companies, 14 saw a revenue drop, including the biggest at Trump National Doral resort, which brought in $74,755,375 in 2017 compared to $115,865,590 in 2016, marking a 35 percent drop. The PGA Tour left Trump Doral in 2016, moving its World Golf Championships event from there to Mexico. However, it's unlikely that had much bearing on revenue to the resort.

The President's Trump National Golf Club in northern Virginia saw a 27 percent drop in income, perhaps in part because of how frequently he visits there to play golf himself. Trump National Bedminster, which hosted the 2017 US Women's Open, did see an increase in business.

Two of Trump's resorts in Scotland and Ireland saw improved income, with Turnberry bringing in $6 million more in 2017, marking a 41 percent increase and perhaps shortening losses Trump has experienced with the property -- in part due to a renovation in 2016. The Doonbeg property in Ireland also saw an increase in revenue while all of the other properties in his portfolio saw a decrease.

Mortgage notes of up to $75 million are also in place for the Doral property, which Trump bought for $150 million in 2012. In total, Trump's businesses carry as much as $1.25 million in mortgages for three of his properties, all set to mature in the next 5-7 years.

Trump also reported receiving golf club sets from PGA Tour pros Bryson DeChambeau, valued at $750, and Kevin Streelman, valued at $1,150.

The money Trump earns from his golf-related businesses goes into a trust set up when he became President. He did not sell his business holdings, and he will fully realize the money his businesses earn while he's Commander-in-Chief after his term as President ends.

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Golf News Net

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