The Trump Organization’s golf courses made $67 million less for Donald Trump in his first year as President than before he took office, his latest financial disclosure filings revealed. The biggest hit, a 35% decrease, came from Trump National Doral in Miami, Fla., and Trump National outside Washington, D.C. also saw a 27% drop. In all, 14 of the 17 Trump Organization golf properties generated less for the President than during the previous year.
Alhough President Donald Trump frequents his own Trump-branded golf courses regularly, the golf courses that are part of the Trump Organization made him less money in his first year as President than before he took office, CNN reported.
The President reported in his latest financial disclosure, filed with the U.S. Office of Government Ethics and released on May 16th, that his company’s golf-related revenue made him about $67 million less in 2017 in comparison with 2016—a roughly 24% decrease, CNN reported.
Of the 17 golf properties listed on the filing, 14 of them generated less income for the President than in the previous year.
The President saw a 27% cut in his income from the Trump National Golf Course outside Washington, D.C., where he’s visited more than 20 times since taking office, CNN reported, and took the biggest hit, a 35% drop, from the Trump National Doral golf course.
The financial disclosure also reports mortgage loans of up to $75 million for the Miami golf course, CNN reported, and in total showed that The Trump Organization now carries as much as $1.25 billion in mortgages that will mature in the next five to seven years for three of its golf clubs.
One new golf company was listed in the latest filing that brought in $270,000 in income for the President, CNN reported. Golf Productions LLC, which on the 2017 financial disclosure listed Donald Trump and his daughter Ivanka as President and Vice President since 2009, is described in a previous filing as a golf video production company. Neither Trump had previously reported income from their roles with the company.
The Trump Turnberry course in Scotland did see a nearly $6 million spike in income for the President in 2017, a 41% increase, CNN reported. A CNN report in October 2017 revealed that the Turnberry resort had lost more than $20 million in 2016, when it was closed for six months of renovations. In June of that year, Trump’s son, Eric Trump, unveiled a new layout for the resort’s “King Robert the Bruce” course.
Overall, CNN reported, Donald Trump earned $214,702,692 in 2017 from his golf-related companies, and that money went into a trust that he set up when he became President. Trump did not sell his business holdings but rather stepped down from leadership positions and transferred the companies into the trust, where the profits will accrue for when he leaves office.
The Washington Examiner reported that the latest financial disclosure report also showed that two PGA Tour golfers, Kevin Streelman of Scottsdale, Ariz., and Bryson DeChambeau of Dallas, Texas, each gave Trump a set of golf clubs as gifts in 2017, and Streelman also gave the President a golf bag. The set of clubs the President received from Streelman was valued at $1,150 and the golf clubs from DeChambeau are worth $750, the report showed.
Since his inauguration, Trump has spent 113 days at his golf properties, according to a tracker from NBC News.