Golf Brings Trump $395M in Income

Morning Edition

July 2, 2026

President Donald Trump’s annual financial disclosure report, released Tuesday by the U.S. Office of Government Ethics, reveals Trump made about $395 million in income in 2025 from 16 properties or resorts around the world with operational golf courses.

—David Rumsey

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Trump’s Golf Businesses Netted Nearly $395M in Income in 2025

Sam Navarro-Imagn Images

U.S. President Donald Trump reported nearly $395 million of income from his various golf businesses in 2025, the first year of his second term in office, according to his annual financial disclosure report released Tuesday by the U.S. Office of Government Ethics. The word golf is used 540 times in the 927-page document.

The Trump Golf portfolio—part of The Trump Organization—includes 16 clubs or resorts around the world with operational golf courses, and five more under development, according to its website.

In 2025, the biggest single golf moneymaker was more than $121.8 million in “golf & hotel related revenue” associated with Trump National Doral Golf Club via Trump Endeavor 12 LLC. Many limited liability companies (LLC) were created by The Trump Organization as holding companies—a standard business practice—that manage Trump’s golf properties, as well as others.

The Miami property has four golf courses, including the famous Blue Monster that hosted a LIV Golf event in 2025, which Trump attended. The resort welcomes guests year-round and offers private membership. The Trump Organization bought the former Doral Golf Resort & Spa out of bankruptcy in 2012 for $150 million. This year, Doral hosted a PGA Tour event for the first time since 2016, which Trump also attended.

Outside the U.S., Trump’s most lucrative golf property in 2025 was Trump Turnberry in Scotland, which brought in about $31.4 million (£23.6 million) in “golf & hotel related revenue” via Turnberry Scotland LLC. Turnberry has two 18-hole courses and a 9-hole course.

Turnberry’s championship course previously hosted four Open Championships—one of golf’s four majors—from 1977 to 2009, but none since it was purchased by The Trump Organization in 2014 for $60 million. The earliest it could host the Open again would be 2029.

Trump National Golf Club Bedminster in New Jersey was the highest earning of Trump’s clubs that reported strictly “golf related revenue” in 2025. Trump Bedminster, via Lamington Family Holdings LLC, reported total income of $37.6 million. The course did not host a professional tournament in 2025; it hosted LIV events in 2022 and 2023, and it is set to host the league’s New York–area event in August.

Trump also pulled in substantial income from two other Florida properties.

Trump International Golf Club West Palm Beach, which resides a few miles from The Mar-a-Lago Club, brought in $36.9 million, while Trump National Golf Club Jupiter reported $31.6 million in income.

Trump’s Golf Businesses

Here is a full breakdown of how much income Trump-owned golf clubs and resorts reported in 2025. Most carry the “Trump National” branding followed by the property’s location. All income is “golf related revenue” unless otherwise noted.

Doral: $121,861,496 (golf and hotel related revenue)
Bedminster: $37,603,295
West Palm Beach: $36,905,293
Jupiter: $31,620,799
Turnberry (Scotland): $31,401,423 (golf and hotel related revenue)
Washington, D.C. (Virginia): $24,867,648
Charlotte: $21,414,854
Colts Neck (New Jersey): $17,469,437
Los Angeles: $16,581,213
Doonbeg (Ireland): $16,135,066
Hudson Valley (New York): $11,278,958
Aberdeen (Scotland): $8,951,045
Pine Hill (New Jersey): $8,403,643
Westchester (New York): $8,135,258

Trump reported income for “management fees” from LLCs associated with Trump Golf properties in Dubai ($1,254,744) and Lido, Indonesia ($284,398). The TNGC Jupiter Management LLC also reported $487,309 of management fee income.

The Golf Productions LLC—which includes golf operations in Jupiter—reported income of $152,934.

In total, Trump reported income of $394,808,813 from “golf & hotel related revenue,” “golf related revenue,” “management fees,” and “business income” at his various golf entities.

Trump’s Topgolf Stock

Among the financial disclosures were all of the hundreds of publicly traded stocks Trump owns—everything from Nike to Amazon to Costco.

The strongest golf tie came from shares of Topgolf Callaway Brands Trump owned in 2025 worth between $50,001 and $100,000. He received one dividend valued between $1,001 and $2,500. He made six purchases of Topgolf Callaway Brands stock between Jan. 30, 2025, and May 15, 2025, each valued between $1,001 and $15,000.

In November, private-equity firm Leonard Green & Partners bought Topgolf and Toptracer from Callaway in a deal that valued the business at $1.1 billion.

Trump at Golf Events

Trump became the first sitting U.S. president to attend the Ryder Cup in September, when he was on-site at Bethpage Black for the opening day of the 2025 team golf event in New York.

At the first tee, he was flanked by executives from the PGA of America, which operates the Ryder Cup and supplied the president with 15 Ryder Cup tickets worth $11,250—part of the $122,050 worth of tickets to 10 sporting events he received in 2025.

This year, Trump attended the PGA Tour’s Cadillac Championship at his Doral property and LIV Golf Virginia at his Washington, D.C.–area club.

Trump did not divest from his businesses when he took office in 2025 (or when he began his first term in 2016), but he has said he handed day-to-day operations to his sons and company executives.

The Trump Organization did not immediately respond to a request for comment.

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