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Irish Independent
5 days ago
- Business
- Irish Independent
Trump declares income of €13m from Doonbeg
The details are contained in his latest filing to the US Office of Government Ethics, over 200 pages of financial declarations covering everything from his Mar-a-Lago golf club in Florida, to the over $700,000 he made from two speaking engagements last year. The filings put a value of between $25m and $50m on the Doonbeg resort, and between $1m and $5m on the hotel. The income declarations are similar to figures supplied by Trump last year, when he was the Republican Party nominee for the presidency. Then, the hotel's income was put at €7.3m, and the overall figure for the resort was €15.2m, over a 16-month period starting in January 2023. The filings also set out incomes for associated companies, which are lodged in Allied Irish Bank accounts. They include Doonbeg Common Area Management Ltd, where the income amounts is between €100,000 and €1m, a higher amount than in previous entries. The filings for Links Cottages Area Management Company declares rental income of between $100,000 and $1m. The two management companies look after common areas of the Doonbeg resort, with residents paying an annual property service charge, which is about €12,000 a year. There is no detail of any income from the sale of houses on the resort. Trump's organisation only owns a small number of the 75 properties in Doonbeg, which change hands up to €1m. Almost all of the cottage are owned by Doonbeg members. Some are leased back to the hotel which rents them to holiday makers. The filings also show income from a number of people paying rent at the resort, with the amounts varying from €10,000 to €13,000. The income at Trump's Turnberry golf resort in Scotland is listed as being just over £24m (€28m). The resort is also given a value of in excess of $50m. The income from his Mar-a-Lago club in Florida is given as $50.1m. The US president also declares royalties from the television show The Apprentice, with the value said to be 'not readily ascertainable', and there is a royalty of between $50,000 and $100,000 coming from his book The Art of the Deal. A cryptocurrency wallet virtual Ethereum key is also declared, with a value of between $1m and $5m. Trump bought the Doonbeg resort out of receivership in 2014. The package included the Greg Norman designed golf course, the hotel and seven suites. A subsequent report from the receivers revealed that he had paid about €8.7m. A further €30m has been invested by the Trump organisation. The resort, which provides employment for about 350 people and is said to be worth about €10m a year to the local economy, has been given a boost by Trump's re-election to the presidency last November. US golfers are said to be joining in record numbers, paying €25,000 each. The last accounts for Trump International Golf Limited Ireland Enterprises, for 2023, showed that operating profits had more than doubled to €2.06m, in what was a record year for the business. Revenues were up 12pc from €14.36 to €16.12m.
Yahoo
13-06-2025
- Business
- Yahoo
What Trump's Real Estate Deals Teach Business Owners About Building Wealth
President Trump has captured the spotlight since the mid-2010s as a political figure. His first presidency came as a surprise in 2016. After losing the 2020 election, he became the second president in history to lose a reelection bid before winning again. Trending Now: Read Next: Since Trump has become synonymous with politics for a decade, it's easy to forget that he became a successful real estate investor and has plenty of insights to share. Ironically, his real estate career has been just as volatile as his presidency. Trump amassed great fortunes with strategic real estate investments in the 1980s and became a household name. Then, he almost lost everything in the 1990s and ascended to new heights in the 2000s. Trump's real estate deals offer plenty of valuable lessons for aspiring investors and people who want to make their mark in the world. It's not practical for everyone to get started with large real estate properties, but it should be an aspiration. Trump doesn't invest in single-family homes and that isn't how he made his mark in the beginning. In fact, his first deal was a 1,200-unit apartment complex in Cincinnati that he and his father bought. Check Out: Not everyone can start with that type of deal. Some investors accumulate multiple single-family homes before they move on to apartments. However, Trump explained the logic of investing in large-scale properties in 'The Art of the Deal.' 'It takes almost the same amount of energy to manage 50 units as it does 1,200-except that with 1,200, you have a much bigger upside,' he said. President Trump used a lot of debt to finance his deals. If he needed all of the cash ready to go, he wouldn't have the real estate empire that he has today. He used advanced strategies to minimize his investments in some properties. For instance, Trump secured an option agreement to purchase the Commodore Hotel from the bankrupt Penn Central. This gave him the option but not the obligation to buy the property. While waiting, he leveraged political connections and New York City's steady decline in the 1970s to get a sweetheart deal on the property. He received an unprecedented 40-year tax break on the property that only ended in 2020. Few investors can capitalize on those types of strategies. Trump had established himself as an ambitious real estate developer at a time when New York City was reeling economically. However, his organization has also taken out many loans. Over-leverage almost wiped him out in the 1990s, demonstrating the risk of this strategy. However, leverage is one of the quickest ways to scale a real estate portfolio. Trump didn't buy a property just for the sake of buying it. His book 'The Art of the Deal' explores intricate details of multiple deals. While you can buy stocks in a matter of seconds, Trump's description of multi-year build-ups leading up to deals resembles chess masters duking it out on the board. Waiting multiple years to swoop in allowed Trump to capitalize on bad market conditions. He also got to take advantage of competitors who were in weakened states and desperate to make deals. When a competitor is desperate to make a deal, it's easier for investors like Trump to find undervalued deals. He explained in 'The Art of the Deal' that he had to acquire Bonwit Teller to build Trump Tower. He mentioned that Genesco would likely try to get out of the deal as multiple wealthy investors approached them. However, Trump had been eying this property for years and had a one-page letter of intent from the seller. He detailed the smart and ruthless approach that allowed him to use this letter as leverage to secure a great deal at a great price. 'I could have litigated it and held up any sale of the Bonwit property for several years. Naturally, I let Genesco know I fully intended to do just that if they reneged on my deal. With creditors breathing down their necks, Genesco, I knew, didn't have a lot of time,' he said. Knowing yourself can help you find great deals. Knowing when the competition is weak may help you capitalize on extraordinary opportunities, especially if you have leverage. Editor's note on political coverage: GOBankingRates is nonpartisan and strives to cover all aspects of the economy objectively and present balanced reports on politically focused finance stories. You can find more coverage of this topic on More From GOBankingRates Mark Cuban Warns of 'Red Rural Recession' -- 4 States That Could Get Hit Hard 6 Popular SUVs That Aren't Worth the Cost -- and 6 Affordable Alternatives The 5 Car Brands Named the Least Reliable of 2025 This article originally appeared on What Trump's Real Estate Deals Teach Business Owners About Building Wealth
Yahoo
13-06-2025
- Business
- Yahoo
What Trump's Real Estate Deals Teach Business Owners About Building Wealth
President Trump has captured the spotlight since the mid-2010s as a political figure. His first presidency came as a surprise in 2016. After losing the 2020 election, he became the second president in history to lose a reelection bid before winning again. Trending Now: Read Next: Since Trump has become synonymous with politics for a decade, it's easy to forget that he became a successful real estate investor and has plenty of insights to share. Ironically, his real estate career has been just as volatile as his presidency. Trump amassed great fortunes with strategic real estate investments in the 1980s and became a household name. Then, he almost lost everything in the 1990s and ascended to new heights in the 2000s. Trump's real estate deals offer plenty of valuable lessons for aspiring investors and people who want to make their mark in the world. It's not practical for everyone to get started with large real estate properties, but it should be an aspiration. Trump doesn't invest in single-family homes and that isn't how he made his mark in the beginning. In fact, his first deal was a 1,200-unit apartment complex in Cincinnati that he and his father bought. Check Out: Not everyone can start with that type of deal. Some investors accumulate multiple single-family homes before they move on to apartments. However, Trump explained the logic of investing in large-scale properties in 'The Art of the Deal.' 'It takes almost the same amount of energy to manage 50 units as it does 1,200-except that with 1,200, you have a much bigger upside,' he said. President Trump used a lot of debt to finance his deals. If he needed all of the cash ready to go, he wouldn't have the real estate empire that he has today. He used advanced strategies to minimize his investments in some properties. For instance, Trump secured an option agreement to purchase the Commodore Hotel from the bankrupt Penn Central. This gave him the option but not the obligation to buy the property. While waiting, he leveraged political connections and New York City's steady decline in the 1970s to get a sweetheart deal on the property. He received an unprecedented 40-year tax break on the property that only ended in 2020. Few investors can capitalize on those types of strategies. Trump had established himself as an ambitious real estate developer at a time when New York City was reeling economically. However, his organization has also taken out many loans. Over-leverage almost wiped him out in the 1990s, demonstrating the risk of this strategy. However, leverage is one of the quickest ways to scale a real estate portfolio. Trump didn't buy a property just for the sake of buying it. His book 'The Art of the Deal' explores intricate details of multiple deals. While you can buy stocks in a matter of seconds, Trump's description of multi-year build-ups leading up to deals resembles chess masters duking it out on the board. Waiting multiple years to swoop in allowed Trump to capitalize on bad market conditions. He also got to take advantage of competitors who were in weakened states and desperate to make deals. When a competitor is desperate to make a deal, it's easier for investors like Trump to find undervalued deals. He explained in 'The Art of the Deal' that he had to acquire Bonwit Teller to build Trump Tower. He mentioned that Genesco would likely try to get out of the deal as multiple wealthy investors approached them. However, Trump had been eying this property for years and had a one-page letter of intent from the seller. He detailed the smart and ruthless approach that allowed him to use this letter as leverage to secure a great deal at a great price. 'I could have litigated it and held up any sale of the Bonwit property for several years. Naturally, I let Genesco know I fully intended to do just that if they reneged on my deal. With creditors breathing down their necks, Genesco, I knew, didn't have a lot of time,' he said. Knowing yourself can help you find great deals. Knowing when the competition is weak may help you capitalize on extraordinary opportunities, especially if you have leverage. Editor's note on political coverage: GOBankingRates is nonpartisan and strives to cover all aspects of the economy objectively and present balanced reports on politically focused finance stories. You can find more coverage of this topic on More From GOBankingRates Mark Cuban Warns of 'Red Rural Recession' -- 4 States That Could Get Hit Hard 10 Unreliable SUVs To Stay Away From Buying 7 Tax Loopholes the Rich Use To Pay Less and Build More Wealth This article originally appeared on What Trump's Real Estate Deals Teach Business Owners About Building Wealth Sign in to access your portfolio
Axios
12-06-2025
- Business
- Axios
Trump's dealmaker image hits a wall
President Trump's reputation as a consummate dealmaker is being challenged by his second-term record. Why it matters: Supporters inside and outside the White House regularly rhapsodize his negotiating skills. Unorthodox moves are lauded as part of " The Art of the Deal." If Trump's dealmaking stature were to erode, it could limit his flexibility on everything from tariffs to taxes. The big picture: The bar Trump set for himself may have been impossibly high, but he's a long way from clearing it. He said he'd make peace in Ukraine on day one. That was more than 140 days ago. He said he'd make peace in Gaza. A ceasefire collapsed months ago, and talks are deadlocked. A two-month deadline for reaching a nuclear deal with Iran expires on Thursday. He said that trade wars were "good and easy to win." So far, the U.S. doesn't have a single trade deal finalized and implemented. The closest ones are with the U.K., with which America has a trade surplus, and with China, which remains just a framework. He hasn't yet approved deals over the future of either TikTok or U.S. Steel. The "Big Beautiful Bill" is increasingly unlikely to hit his desk by July 4th. Zoom in: In some cases, like on China trade and U.S. Steel, Trump has prematurely proclaimed that deals are done. In other cases, like the $600 billion in pledged investments from Saudi Arabia, many of the specifics have been kept private.
Global News
30-05-2025
- Business
- Global News
Trump lashes out at claim he's a ‘chicken' when it comes to trade
U.S. President Donald Trump may be many things, but he wants the world to know he's no 'chicken' when it comes to fiscal policy, despite what appears to be a tendency to recoil in the face of resistance from economic partners and foes — a behaviour financial analysts have coined 'TACO' trade. The president's propensity to threaten and then momentarily impose outrageous import taxes on U.S. trade partners, only to retreat when met with retaliation, paved the way for the acronym created by the Financial Times' Robert Armstrong. It stands for 'Trump Always Chickens Out,' and has come to encapsulate what Trump says is a legitimate form of negotiation. Under conditions created by his erratic manoeuvres, markets tend to sell off when a new tariff threat emerges and then recover after the president backs down. Story continues below advertisement When asked about the unfavourable phrase during a press conference in the Oval Office on Wednesday, the president appeared offended and rejected the notion that he has made a habit of backing out of deals. Get breaking National news For news impacting Canada and around the world, sign up for breaking news alerts delivered directly to you when they happen. Sign up for breaking National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy 'You call that chickening out?' Trump said. 'It's called negotiation.' The author of The Art of the Deal added that he sets a 'ridiculous high number and I go down a little bit, you know, a little bit,' doubling down on his position that it's an effective bargaining strategy. 'Six months ago, this country was stone-cold dead, we had a dead country, we had a country that people didn't think was going to survive, and you ask a nasty question like that,' he added. Trump defended his decision to raise tariffs on China to 145 per cent, only to reduce them to 30 per cent for 90 days during negotiations. Similarly, last week, he threatened to impose 50 per cent levies on goods from the European Union as of June — but swiftly delayed the start date until July 9 for negotiations, while the 10 per cent continues. Trump claims that the EU would not be negotiating if not for his threat of high tariffs. Similar debacles unfurled over electronics and the universal tariffs that Trump announced on April 2, which were based partially on individual trade deficits with other countries. Story continues below advertisement View image in full screen President Donald Trump speaks during an event to announce new tariffs in the Rose Garden at the White House on April 2, 2025, in Washington. Mark Schiefelbein/ Getty Images His see-sawing antics caused chaos in global stock markets, which have been forced to weather drastically fluctuating conditions. Trump claims that his global economic policy has created US$14 trillion in new investments in the U.S., a figure that appears to be inflated and is not sufficiently supported by official data. 'We have $14 trillion now invested … when Biden didn't have practically anything, Biden,' the president said. 'This country was dying, you know, we have the hottest country of anywhere in the world, I went to Saudi Arabia, the king told me,' the President concluded. As of Wednesday afternoon, the S&P 500 stock index was up slightly so far this year. But it was down as much as 15 per cent year over year, a reflection of the volatility that Trump's changing policies have created. Story continues below advertisement — With files from The Associated Press
