Donald Trump was a major proponent of Brexit in 2016, prompting Britain to leave the European Union.
According to Fortune, the former president’s golf courses have lost nearly $5 million in the last financial year.
“Trump’s Turnberry resort in Ayrshire Scotland recorded £3.7 million ($4.5 million) in pre-tax losses for 2021, while Trump International Golf Club Limited, parent of another course in Aberdeenshire, Scotland, reported another £697,000 ($853,000) in pre-tax losses,” the outlet wrote.
“When the pound goes down, more people are coming to Turnberry, frankly,” Trump said during a presidential rally.
But, according to Fortune, Brexit has impacted the resort’s “pool of staff, with lack of access to European staff for businesses, in general, resulting in greater demand for the individuals previously available to the resort.”
The report also outlines that COVID-19 also caused major problems for his golfing empire, resulting in a three-month closure in 2021.
Trump purchased Turnberry golf resort for $60 million in 2014. The field now hosts Open Championships and has a “five-star hotel and spa,” the outlet noted.
Trump recently declared his intentions to seek a return to the presidency in 2024, after losing to current president Joe Biden in the 2020 election.