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Recent disclosures from former President Donald Trump show that he has a wide range of holdings, including everything from cryptocurrencies to his social media company. The 265-page document also gives us a glimpse into the value of his extensive real estate portfolio.
He said his real estate assets total at least $635 million. This includes Mar-a-Lago, his private club and his home in Palm Beach, Florida, as well as the hotels, resorts and golf facilities he owns. He listed four assets at over $50 million, the highest category in the disclosures.
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Bloomberg broke down some of the revenue streams cited by Trump and comes up with an estimate of $513 million from golf clubs and resorts. Mar-a-Lago, which was set up as a separate LLC, has brought in $57 million in revenue over the past 16 months. Newsweek reported that the resort brought in around $52 million in revenue from 2022 through April 30, 2023, in a previous disclosure. The higher revenue could be due to more visitors to the club and more events hosted as Trump’s presidential campaign intensifies. The club has also raised the cost of its membership fee to $600,000. Although the resort is popular with visitors, locals seem to be a little bothered by all the attention. The U.S. Secret Service recently confirmed it had received a letter from Palm Beach seeking the timeline for ongoing road closures near Mar-a-Lago, which were tightened after the Trump assassination attempt.
One of Trump’s Miami-based companies, which owns golf courses and a resort, generated $161 million. According to Axios, that revenue came from Trump National Doral Miami Golf Club, home of the famous Blue Monster, and other golf courses. Trump’s next disclosures could show even more revenue from the golf resort. Not only does he frequently hold press conferences and rallies there, but the Trump Organization recently secured approval to build condominium towers on the property, and those units could sell for as much as $2 million apiece.
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The Trump Ruffin Tower in Las Vegas, Nevada, brought in $28 million from hotel revenue and condo sales. A July report by the Las Vegas Review-Journal detailed the success of the Trump Ruffin Tower, a partnership between Trump and casino owner Phil Ruffin. Since opening in 2008, the property has generated over $400 million in revenue. It is a non-gaming hotel with condominiums and timeshare units.
Another big moneymaker was the Trump National Golf Club Bedminster, which brought in $37 million. Entry fees for this private golf course are said to have been over $350,000. The documents also show that Trump was repaying a $25 million to $50 million loan from Deutsche Bank that was tied to his Trump Chicago Hotel.
The disclosures do not reveal Trump’s total wealth, and Trump’s stake in Trump Media & Technology far exceeds the income from his real estate holdings. Trump’s real estate investments over the years are complicated, but his recent focus on golf resorts and Florida appears to be paying off.
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This article “Golf Pays Off: Revelations Show Trump Earned Over Half a Billion from His Resorts” originally appeared on Benzinga.com
