- The 77-year-old former US president owns another golf course in Aberdeenshire
- Turnberry and Aberdeen received £1m of taxpayers’ money during COVID-19
- DailyMail.com provides all the latest international sports news
Donald Trump’s Scottish golf course and luxury resort Turnberry has made a profit for the first time since the former US president bought it more than a decade ago.
Trump Turnberry – an 800-acre resort in Ayrshire with three golf courses and a hotel – made a profit of £571,000 (about $727,705) in 2022, according to a report from the Financial Times.
A year before that, in 2021, the resort posted a loss of £3.7 million (about $4.7 million). It was the first time Trump’s company had run into financial difficulties since purchasing the resort for $60 million in 2014.
The improvement came amid reports of other separate accounts recording mounting losses at the former president’s other Scottish golf course – Trump International Golf Links in Aberdeen – months after it was discovered he had inflated its value.
Trump’s Aberdeen golf course posted a loss of more than £738,000 (about $940,581) in 2022, compared to £697,000 (about $888,326) in 2021.
Trump Turnberry’s entry into 2020, when it posted its first ever profit in 2022
Trump has owned Turnberry since 2014, but the resort experienced financial difficulties during the COVID-19 lockdown
The gains (and losses) come as New York state public defenders sought to show that Trump has consistently overvalued many of the towers, golf clubs and other assets that burnished his reputation as a business magnate before he entered politics and the 2016 presidential election won. election.
Trump’s lawyers have argued that the property valuations were subjective and that banks were not harmed by any inaccuracies because they benefited from the loans.
Trump faces four possible criminal trials this election year as his campaign to defeat incumbent President Joe Biden gains momentum. He has been charged in Washington and Georgia for his efforts to overturn his 2020 election loss, in Florida for his handling of classified documents and in New York for hush money he paid to a porn star.
Former US President Donald Trump plays golf at his Trump Turnberry course in May 2023
He has pleaded not guilty in all these cases.
Turnover for Trump Turnberry in 2019, the last comparable full year, when COVID-19 struck shortly afterwards, was £19.7m. The resort subsequently closed before reopening in April 2021.
Trump Turnberry – along with Trump’s smaller golf course in Aberdeen – received more than £1m of taxpayers’ money during the Covid-19 lockdowns.
In 2018, the Trump family pledged to spend $200 million to renovate their Turnberry golf course. A newly filed 2022 annual report obtained by The Financial Times calls it a “significant capital investment to significant. . . improve the resort’.