Donald Trump’s company, the Trump Organization, is hemorrhaging money, especially at its golf resorts, according to a report from Forbes:
“The Trump Organization, which has … declared losses of roughly $90 million at its European golf resorts, according to an analysis of records from Ireland and the United Kingdom. Since the president opened his Aberdeen course in 2012, he has lost $15.5 million. Business has been even worse at Turnberry, which Trump bought in 2014 for $65 million. Despite investing an additional $75 million or so to fix up the property from 2014 to 2018, the place piled up losses of $58 million, according to an analysis of financial reports. The 2019 figures, first reported by the Scotsman, bring Turnberry’s total losses to $61 million since 2014.”
All of Trump’s golf resorts — which were once a major source of revenue for the company — have seen dramatic declines since Trump took office:
For example, at the 643-room Trump National Doral in Miami, Forbes notes:
“Revenues dropped to $87.5 million in 2016, and profits slid to $12.4 million. After election night, the resort lost 100,000 booked room nights, according to someone familiar with the business. Revenue plummeted to $75.4 million in 2017, and profits sank to $4.3 million.”
This latest bad financial news comes on top of the losses suffered by Trump’s hotels during the coronavirus pandemic, which has also negatively impacted the Trump Organization’s bottom line, as was first reported earlier this year:
“Seventeen of Trump’s clubs and hotels have closed. The remainder of Trump properties are operating at a fraction of their normal capacity: hotels running with restaurants closed, golf clubs operating with clubhouses shut down, and golfers warned not to share carts or touch the flagsticks.”
Simply put, not only is Donald Trump and his company facing serious legal problems in the very near future, there’s a very real possibility that the Trump Organization could be on the verge of bankruptcy.
Looks like karma is starting to catch up with the ex-president in a major way.
According to Eric Trump, his family has never done anything the least bit wrong, illegal,…
An enraged Sen. Lindsey Graham (R-SC) said today during an appearance on NBC's "Meet the…
In the surest sign yet that failed former president Donald Trump is desperate for cash…
There's a photo circulating online this morning that's stirring up all sorts of controversy, with…
If you haven't already this morning, be sure and take a digital stroll over to…
Rep. Jamie Raskin (D-MD) gave a Republican colleague a much-needed lesson in American history yesterday…
View Comments
At some point, Putin and the Saudis are going to finally figure out that their orange clown puppet is washed up, and not worth the cost of propping up anymore.