how was trump's scottish golf course financed

Did Donald Trump build a golf course in Scotland?

In 2006, the New York real-estate magnate Donald Trump purchased a stretch of coastal land in Aberdeenshire, northeast Scotland, for the purpose of building " the world's best golf course ." There was noisy local opposition to the plan, but Trump had a relationship with Scotland's then-first minister, Alex Salmond.

How much did Donald Trump's Aberdeenshire golf course lose in 2019?

Meanwhile, Trump's course in Aberdeenshire lost $1.5 million in 2019 and required $1.6 million worth of loans from Trump's family trust.

What is the Trump golf course and why is it controversial?

Trump opened the course on a sand dune system in 2012 despite fierce local opposition. The course is the subject of a legal action intended to find out whether Trump obtained the money to build it from Russia.

Will Scottish MPs investigate Trump's golf business interests?

On Wednesday, Scottish MPs will vote on the motion calling to investigate Trump's business interest during a debate led by the Scottish Greens. Should the UWO be granted via the courts, the Trump Organization would have to detail the source of the financing behind both golf resorts, which are part of Trump Golf's 19-course portfolio.

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 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.

Who said golf courses were funded with money from Russia?

Harvie was referring to a comment attributed to Eric Trump by veteran golf writer James Dodson, who relayed a conversation with Trump’s son in a 2017 interview with National Public Radio. Dodson said Eric Trump told him the courses were financed with money from Russia. The British government introduced unexplained wealth orders in 2018 ...

What was the Scottish Green Party's vote against the motion?

In February, Scottish Parliament voted 89-32 against the motion, which was brought by the Scottish Green Party and would have sought information on the source of the money the ex-president’s business used to buy property in Aberdeenshire, where he built a golf course and hotel, and Turnberry, a seaside course purchased for $60 million.

How much did Donald Trump buy Turnberry Golf Course?

In 2014, he bought Turnberry’s course and resort for $60 million. Company filings in the UK show that Trump’s company spent another $100 million on course upgrades and other expenses. In addition to the Turnberry and Aberdeenshire courses, Trump purchased five other golf properties outside Scotland in all-cash deals.

How much did Donald Trump spend on Turnberry?

The Trump Organization has said in public statements and filings that it has spent a total of more than $140 million on the development. Trump, an avid golfer whose mother was Scottish, made a bigger investment in Turnberry, a seaside course that has four times hosted The Open - Europe’s only golf major.

What is the Scottish government facing?

(Reuters) -The Scottish government is facing a new legal challenge over its February rejection of a motion to investigate former U.S. President Donald Trump’s all-cash purchases of two golf courses, reviving an effort to force Trump to disclose how he financed the deals.

Who rejected the Scottish Wealth Order?

The Scottish Parliament rejected the motion seeking the order on Feb. 3. Before the vote, Humza Yousaf - the justice minister and a member of the ruling Scottish National Party - called Trump “deplorable” but argued that unexplained wealth orders should be instigated by law enforcement officials rather than politicians.

Who is the leader of the Greens?

Harvie, the Greens’ leader, has expressed concerns in Scottish Parliament over how the courses were funded. “Big questions remain over Trump’s business dealings in Scotland,” he said in February 2020. The purchase of the two courses, he said, “were part of Trump’s huge cash spending spree in the midst of a global financial crisis, while his son was bragging about money pouring in from Russia.”

March 2010

Satellite images taken in March 2010 of Foveran Links show the dunes in their full unspoiled form:

April 2021

Images taken of the course in April 2021 show how many of the sand dune features at the southern third of Foveran Links, where Trump's golf course was built, had been partially destroyed.

The mystery of Trump's all-cash purchases in Scotland

Trump International Golf Links was opened in 2012 but has been the center of a mystery ever since: How did Trump suddenly come up with hundreds of millions in cash to finance the purchase of the course, as well as a second one he bought in 2012?

How much did Donald Trump invest in Turnberry Golf Course?

Trump's family has invested heavily at Turnberry, delivering an upgrade on course and facilities worth north of $150 million since purchasing the course in 2014 for $60 million. According to the most recent annual report available, however, the course plunged further into the red in 2019.

Where did Donald Trump play golf?

Donald Trump and son Eric Trump play golf at Trump Turnberry Luxury Collection Resort during the former President's first official visit to the United Kingdom on July 14, 2018 in Turnberry, Scotland. Leon Neal/Getty.

What will happen if Harvie and the rest of the Scottish government continue to treat overseas investors like this?

"If Harvie and the rest of the Scottish government continue to treat overseas investors like this, it will deter future investors from conducting business in Scotland, ultimately crushing their economy, tourism and hospitality industries."