how many russians bought housing from trump golf course developments

by Laura Hirthe 10 min read

Russian elite

The glimpse inside the condominium dealings offers a look at how the wealthy in Putin’s Russia use foreign property to stow cash.

The rainmaker

For Dezer, Trump’s American partner in Sunny Isles, the six buildings have been a win for his family, the Trumps and Sunny Isles.

Why did Trump mark up his house?

Trump has in the past attributed the markup to renovations he made to the property, which he snapped up when the previous owner filed for bankruptcy.

What did Trump sell his Palm Beach estate for?

A Democratic senator wants the Treasury Department to hand over records relating to President Donald Trump's sale of a Palm Beach estate that he bought for $41 million to a Russian oligarch for $95 million only four years later. "It is imperative that Congress follow the money and conduct a thorough investigation into any potential money laundering ...

Who is investigating the Rybolovlev transaction?

Wyden, who sits on the Senate Intelligence Committee that is investigating alleged collusion between the Trump camp and Russia, wrote that the transaction between Trump and oligarch Dmitry Rybolovlev is being probed by special counsel Robert Mueller.

Did the Trump Organization comment on Wyden's request?

The Trump Organization and Treasury Department have not commented on Wyden's request.

How many golf courses did Donald Trump own?

In fifteen years, he bought twelve golf courses (ten in the U.S., one in Ireland, and a smaller one in Scotland), several homes, and a winery and estate in Virginia, and he paid for his forty-million-dollar share of the cost of building the Trump Hotel in Washington, D.C.—a property leased to Trump by the U.S. government.

How much money did Donald Trump spend on new properties?

In the nine years before he ran for President, the Post reported, the Trump Organization spent more than four hundred million dollars in cash on new properties—including fourteen transactions paid in full. In fifteen years, he bought twelve golf courses (ten in the U.S., one in Ireland, and a smaller one in Scotland), several homes, ...

How much did Trump spend on Turnberry?

No doubt, the President will be excited to visit. After buying the property for more than sixty million dollars, he then spent a reported hundred and fifty million pounds—about two hundred million dollars total—remaking the site, adding a new course, rehabbing an old one, and fixing up the lodgings. It is possible, though, that he will have some harsh words for his staff. The Turnberry has been losing an astonishing amount of money, including twenty-three million dollars in 2016. The Trump Organization argued that these losses were the result of being closed for several months for repair. However, revenue for the months it was open were so low—about $1.5 million per month—that it is hard to understand how the property will ever become profitable, let alone so successful that it will pay back nearly three hundred million dollars in investment and losses.

How much money did the Turnberry lose in 2016?

The Turnberry has been losing an astonishing amount of money, including twenty-three million dollars in 2016. The Trump Organization argued that these losses were the result of being closed for several months for repair.

Where did Donald Trump make deals?

Instead, Trump turned to a new source of other people’s money. He did a series of deals in Toronto, Panama, the Dominican Republic, Azerbaijan, and Georgia with businesspeople from the former Soviet Union who were unlikely to pass any sort of rigorous due-diligence review by pension funds and other institutional investors. (Just this week, the Financial Times published a remarkably deep dive into the questionable financing of Trump’s Toronto property.) He also made deals in India, Indonesia, and Vancouver, Canada, with figures who have been convicted or investigated for criminal wrongdoing and abuse of political power.

Will Trump play golf?

President Trump will spend the weekend playing golf at his newest and most financially confounding major project. The President has refused to release his tax returns or to provide anything other than the barest minimum of required financial disclosure. His business is an odd one, hurtling from real-estate development to casinos to licensing to golf to roadside motels, with no obvious logic. We know far too little about how he has made and spent his money, and much of what we do know is troubling. There are countless ways for a President, his family, his Cabinet, and his associates to profit from the Presidency. There are also realistic fears about past business partners using their knowledge to unduly influence the President and his policies. Congress has the power to uncover much of what we would want to know, but is declining to do so. We still don’t know if the Mueller investigation will focus on questionable transactions that don’t clearly and directly involve Russian influence during the campaign. In short, it is up to us, citizens and journalists, to do what we can to unravel the financial entanglements of the President, to make sense of the seemingly insensible.

What did Donald Trump Jr. say about Russia?

said his family’s sprawling business enterprise is “looking all over the place, primarily Russia” to form financial relationships.

Who asked Eric Trump the same question as they rode in a golf cart?

Later, Dodson, who wrote a biography of Ben Hogan, among other golf books, said he asked Eric the same question as they rode in a golf cart. Dodson said Eric Trump replied: “ ‘Well, we don’t rely on American banks. We have all the funding we need out of Russia.’”. Dodson said, “Really?”.

Does Trump have any connections to Russia?

President Trump has denied any connections to Russia — even tweeting before his inauguration in January, “I have nothing to do with Russia, no deals, no loans, no nothing.”

Did Trump's son say his dad funded his golf courses?

Eric Trump said dad’s golf courses were funded by Russia: report. President Trump’s son Eric once said that his father got funding for his golf courses from the Russians, according to a report.

Did the Kremlin interfere in the 2016 election?

But the US intelligence community has said the Kremlin meddled in the 2016 presidential election, and the FBI and two Congressional panels are investigating whether Trump associates had any contact with the Russians during the campaign.

How many golf courses does Trump own?

At last count, as of October 2020, Donald Trump owned 19 golf courses.

Where are Trump's golf courses?

Trump Golf was founded in 1999 with the mission "to create the world’s best luxury golf experience", according to his website.

What is Trump International Golf Club?

Dubai, UAE - Trump International Golf Club has a "state-of-the-art golf performance academy with a floodlit 9-hole, par 3 academy course".

How many people can play at Trump National Golf Club?

Trump National Golf Club, LA, California - the facility boasts an opulent ballroom for up to 300 guests.

How many homes does Donald Trump own?

But, according to a 2020 Business Insider article, the US President's real estate portfolio boasts at least eight homes. The Associated Press reports that he has "plenty of assets he could cash in, starting with a portfolio that includes office and condo towers, ...

Where does Donald Trump live?

Where are Donald Trump's homes? Trump has two houses in Sterling, Virginia, near the Trump National Golf Club in Washington DC. Business Insider says they "come in handy" when he's playing golf in the area. His third property is the famous Mar-a-Lago, at Palm Beach in Florida.

Where is the Trump Tower?

Trump Tower Penthouse, Fifth Avenue, New York City - overlooking Central Park, this iconic building boasts 24K gold and marble. It doubles as headquarters for The Trump Organization.

Who is Uglanov in Russia?

Uglanov is a businessman who served as a deputy minister for industry and energy in the regional government of Saratov from 2010 to 2011. Uglanov once posted a picture of himself on Facebook with the head of a Russian motorcycle gang that was sanctioned by the U.S. government for its role in Russia's annexation of Crimea.

Who is Oleg Misevra?

Oleg Misevra. Misevra is a wealthy coal magnate and former traffic police commander who has repeatedly earned personal praise and support from Vladimir Putin for his work. In 2002, he was accused by a business rival of murder, blackmail, and slander.

Do Russians invest in Trump?

But that doesn't mean that Russians aren't investing in Trump. In fact, at least 63 Russian elites and oligarchs have invested around $100 million into Trump-brand real estate in southern Florida, a Reuters investigation revealed. In the Florida resort town of Sunny Isles Beach, an area with the highest number of Russian-born residents in the U.S., the Trump brand has six residential towers.

Is Trump real estate a limited liability company?

The Reuters investigation found that a third of the owners of Trump real estate in the area are Limited Liability Companies, which are permitted to hide the identities of their owners.

Who is Alexander Yuzvik?

Alexander Yuzvik. Yuzvik was previously a senior executive at Spetstroi, a Russian state-owned company that oversees construction for military facilities. The firm has been involved in development projects for Russian intelligence services and the Russian military.

Does Donald Trump have any business dealings with Russia?

During the many government investigations into whether the Trump campaign colluded with the Russian government during the 2016 presidential elections, President Donald Trump has insisted he doesn't have business dealings with Russia. " I have no loans in Russia.