Former US president Donald Trump during a round of golf at his Turnberry course in Scotland. Photograph: Robert Perry/Getty ImagesThe Irish company behind the Trump International Golf Links & Hotel in Doonbeg, Co Clare, which the former US president Donald Trump is due to visit on Wednesday, has booked accumulated losses of €16.7 million since it was incorporated in 2014 and has never booked an after-tax profit in its annual accounts.
Mr Trump is coming to Ireland from Scotland, where he has been visiting his golf courses in Aberdeen and Turnberry, ventures that have also been booking significant losses. A separate company behind the Aberdeen golf course had accumulated losses of £16.5 million at the end of 2021, while the Turnberry golf and hotel venture had accumulated losses of £82.3 million at the end of the same year.
The accounts of the companies associated with the Irish and Scottish ventures are audited by BDO, of O’Connell Street, Limerick. The companies are all ultimately owned by the Donal J Trump Revocable Trust, of Florida, a trust established in 2014. According to a note in the 2021 accounts of Trump International Golf Scotland Club Ltd, the company has a £40.6 million interest-free loan from Mr Trump. He can seek full or partial repayment of the loan if he gives one year’s notice, the accounts state.
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Source: IrishTimes - 🏆 3. / 98 Read more »
Source: IrishTimes - 🏆 3. / 98 Read more »