Trump made it a point to spend some time at his Scottish Turnberry golf resort yesterday, during his Europe visit. An album full of pictures featuring our rotund president waving from those beautiful golf greens was placed in every major newspaper around the world. Every chance he had, Trump kept mentioning it to reporters. He told the British Sun how “magical” it was. Trump was certainly taking advantage of the free advertising.
I have arrived in Scotland and will be at Trump Turnberry for two days of meetings, calls and hopefully, some golf – my primary form of exercise! The weather is beautiful, and this place is incredible! Tomorrow I go to Helsinki for a Monday meeting with Vladimir Putin.
— Donald J. Trump (@realDonaldTrump) July 14, 2018
Let’s ignore the fact that the president is self promoting his own enterprise, an action that would have gotten Obama impeached, a brief analysis of the Scottish Turnberry finances, raises a lot of eyebrows. For starters, the resort is in need of A LOT of advertising. Ever since he bought the resort in 2014 for $60 million, it has yet to return a profit.
Even before the financial crisis of 2015, no banks wanted to lend Trump a cent. This is public knowledge. Trump’s consistent line of business failures, made Trump a hot potato that no one wanted to touch. Especially after it was revealed that his Trump University was nothing more than a two penny scam, banks COULDN’T loan to Trump even if they wanted to.
The people of Scotland love Trump International Golf Links.
— Donald J. Trump (@realDonaldTrump) November 10, 2012
He was in a pickle. Trump turned to a unique solution. He began dealing with people from the Soviet Union. He started doing business with people who had been accused of criminal wrongdoing. Suspiciously, it was at this time in his career, while the Trump organization was in its worst financial condition, did Trump buy the Scottish Turnberry for $60 million. It is, by far, the biggest investment the Trump Organization has made in years, NewYorker.
Remember, Trump made this purchase when his finances were so bad, no banks would loan to him. He then spent another $200 million fixing up the golf course!!?? After investing such an astonishing amount of money, the Turnberry continues to lose insane amounts of money. The Scottish Turnberry lost $23 million in 2016, but Trump explained that was because they were closed for a few months. Okay. Then how does he explain some months that the resort was opened and it took in amounts as low as $1.5 million!!??
Everyone crowns Trump as the king of real estate. If that is true, you have to be a bit puzzled when Trump’s largest investment is a golf course in a remote region of Scotland. Scotland?
In congressional testimony, Glenn Simpson, the founder of Fusion GPS, the firm that hired Christopher Steele to report out the document that became known as the Steele dossier, wondered aloud if the money really was Trump’s. If so, why would he have spent it in this location and not elsewhere? (A recent report by R&A, the world’s leading golf organization, shows that there is far more opportunity in Asia, Africa, and Latin America—where golf is growing quickly—than in Scotland, the country most oversupplied with courses, clubs, and resorts.) NewYorker
This entire mystery was not a concern during the election, because Trump lied to US officials and said his Turnberry made a handsome profit of $15 million. Trump apparently masked the financial problems he is having with his Scottish Turnberry resort on US personal financial disclosure forms. forms
Trump said the Turnberry made $15 million, but according to documents that the Trump Organization with a British government agency, the course lost $23 million.
If Trump’s resort was not purchased with Trump’s money, then you have to wonder who bought the President of the United States a Scottish golf resort. An even more important question would be ‘why’.