Donald Trump has not had much luck with his Turnberry golf resort in Scotland as failed to turn a profit every year since the Trump Organization acquired it back in 2014. But apparently, that changed this year.
According to a report from the Financial Times, Trump Turnberry actually turned a profit for the first time last year, bringing in a pre-tax profit of about £571,000, which is equivalent to about $730,000.
“Trump Turnberry in Ayrshire, which features three golf courses and a century-old hotel, was bought by the Trumps for a reported $60mn in 2014 but had never since made a profit,” Daniel Thomas wrote for the Financial Times.
“According to accounts filed at the UK’s Companies House, Trump Turnberry made a pre-tax profit of £571,000 in 2022, compared with a loss of £3.7mn the previous year. With attendance recovering from the coronavirus pandemic, revenue rose to almost £22mn, from £13.1mn in 2021.”
Obviously, this is good news for Trump and his organization, but the bad news is that the golf course has still lost Trump a lot of money in the long run despite finally turning a profit last year. As a result, Trump did not have to pay taxes on the profit this year deductible losses carried forward from previous years.
