Tags: donald | trump | golf | investment

Donald Trump's Golf Investments Show His Midas Flair

By Dale Eisinger   |   Monday, 17 Dec 2012 01:56 PM

Real-estate mogul Donald Trump is buying up golf courses across the U.S. at a fevered clip, some at incredibly low prices, according to reports.

The conservative activist has paid a reported $3 million for a golf club in Charlotte, N.C., just months after buying the famous Doral Golf Resort in Miami for $150 million — a huge discount on the reported $501 million Morgan Stanley paid for it in 2007.

Despite a flagging economy and a five-year decline in the popularity of golf, Trump is certain the investments aren't a risk. This is even with the millions his company must invest in the links to get them up to Trump-level standards.

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Trump says people are still interested in playing the sport, specifically at his upgraded clubs. He says the clubs make “millions of dollars.”

This was proven over the weekend at his recently purchased club in Jupiter, Fla. — the former Ritz-Carlton Golf Club & Spa  — a club with a long waiting list for future membership. Trump tossed the entire roster of wannabe members and is assembling a 100-person list of his own. He invited 320 members of the former Ritz-Carlton to a swanky dinner Friday at Trump International in Palm Beach, according to the New York Post.

The Jupiter club, to be renamed Trump National Golf Club at Jupiter, had been struggling in its days before Trump’s purchase, selling discounted memberships at hefty discounts. Despite a desire by a lot of Florida golfers to find their way onto Trump's 12th course, the mogul is holding the waiting close to his vest.

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If history is any indication, Trump will take the down-on-its-luck Jupiter club to new heights. Most of the golf courses in his portfolio have followed a similar pattern, with Trump bailing out scuffling high-end clubs, adding his flair and golden touches, and emerging with a highly desirable golf and lifestyle country club.

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Despite a five-year slump in golf, real-estate mogul Donald Trump is buying up golf courses across the U.S. at a fevered clip, some at incredibly low prices, and he says they're making "millions of dollars" for him.
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