Ireland Small potatoes: Trump declares €11m Doonbeg income in latest filing

13:08  19 june  2017
13:08  19 june  2017 Source:   Independent.ie

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US president values Co Clare ‘ small potatoes ’ golf destination at m -m in latest filing . US president Donald Trump reported earning income of €11 million from his golf resort at Doonbeg in Co Clare in just 15 months, a new personal financial disclosure shows.

Donald Trump once dismissed his golf resort in Doonbeg Co Clare as "small potatoes" but he has declared income of more than €11m from the resort in just 15 months.

In a voluntary disclosure to the Office of Government Ethics the Republican president declared $528m (€471m) income from 565 companies he is involved in.

The period covered by the disclosure – his third since declaring his candidacy – is January 2016 to April 2017 and included three months of his presidency.

In the 98-page declaration the reality star turned politician declares the golf club's value at between $5,000,001 and $25,000,000 (€4.4m and €22m) and $10,755,683 (€9,610,582).

Small potatoes: Trump declares €11m Doonbeg income in latest filing

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In the covered period he declared earnings of $12,498,172 (€11,170,552). It is difficult to compare his earnings at his Irish golf resort with filings before he was elected to the White House as different lengths of time are covered.

In a 2015 declaration (his first) he declared income of $10,755,682 (€9,610,582). That filing covered the previous 18 months and a second filing in 2016, covering the previous 16 months, showed income of $10,750,698 (€9,606,128). In the filing Trump listed that he had resigned from two companies involved in the luxury west of Ireland golf resort - TIGL Ireland Enterprise Limited (Trump International Golf Links Doonbed) and TGIl Ireland Limited

He became president/director of both on 24 February 2014 and resigned on January 19 2017 – the day before he was inaugurated as 45th president of the United States.

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Trump retains ownership of Doonbeg vie TW Venture LLC – one of two companies listed in Doonbeg. The second is TW Venture Managing Member Corp.

The document also shows that the so-called 'Winter White House', Trump's Mar-A-Lago resort in Florida earned $37.2m (€33m) during the 15 months.

During his campaign Trump dismissed his investment in Doonbeg as "small potatoes" adding that he would let his kids "have fun with it".

Trump was speaking at Kiawah Island in South Carolina when he asked the crowd if they had heard about Doonbeg, which he renamed 'Trump International Golf Links & Hotel Ireland'.

"I bought it a number of years ago and during the downturn in Ireland I made a good investment. It is an incredible place," Mr Trump said.

"We spent a lot of money on making it just perfect and now it's doing great. But I don't care about that stuff any more. It is like small potatoes, right," Mr Trump said in comments broadcast on live US TV.

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Similarly after his election to the White House Trump again distanced himself from his business interest in Doonbeg but used the planning difficulties his team has encountered there as an example when criticising the European Union.

"I own a big property in Ireland, magnificent property called Doonbeg," he said when discussing EU bureaucracy in a joint interview with The Times and Bild.

"What happened is I went for an approval to do this massive, beautiful expansion - that was when I was a developer, now I couldn't care less about it . . . but I learnt a lot because . . . they were using environmental tricks to stop a project from being built. I found it to be a very unpleasant experience.

"To get the approvals from the EU would have taken years.

"I don't think that's good for a country like Ireland.

Trump's son Eric Trump visited Doonbeg in April and insisted his father "loves" Doonbeg and Ireland.

"My father loves this country, loves this hotel, he loves this place, loves everything this symbolises. I would love him to see this and everything we have accomplished and it would be great to have him here.

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"If he is able to make it here, it would be great to have him," he said during his visit here. 

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