Gene Maddaus
Senior Media Writer VARIETY
In 2006, Donald Trump
opened his golf course in the wealthy Los Angeles suburb of Rancho
Palos Verdes — marking his first foray into West Coast real estate.
Already a Hollywood figure as the star of NBC’s “The Apprentice,” Trump
announced his presence in Tinseltown with characteristic fanfare.
He announced that the project cost a staggering $264 million — making it, as he said many times, the most expensive golf course anywhere in the world.
“I do not think there is anything close,” he said.
The price tag was key to the marketing of the course. It fit with his over-the-top brand. Located in close proximity to Hollywood, the Trump National Golf Club often hosted celebrity tournaments, with stars like Michael Douglas, Mark Wahlberg, Catherine Zeta-Jones and Samuel L. Jackson — as well fellow reality stars like Caitlin and Brody Jenner.
But the reality of the course’s finances was a far cry from the bluster. Just two years after it opened, Trump’s representatives told the L.A. County Assessor that it was actually worth just $10 million.
Trump has also reported widely varying appraisals of Trump National Golf Club in Westchester County, New York. In financial statements submitted to federal elections officials, he has claimed that the course is worth more than $50 million. In news accounts, he has said that the 101-foot waterfall alone cost $7 million. And yet last month, an ABC News investigation found that he told tax officials the property was worth just $1.35 million.
He announced that the project cost a staggering $264 million — making it, as he said many times, the most expensive golf course anywhere in the world.
“I do not think there is anything close,” he said.
The price tag was key to the marketing of the course. It fit with his over-the-top brand. Located in close proximity to Hollywood, the Trump National Golf Club often hosted celebrity tournaments, with stars like Michael Douglas, Mark Wahlberg, Catherine Zeta-Jones and Samuel L. Jackson — as well fellow reality stars like Caitlin and Brody Jenner.
But the reality of the course’s finances was a far cry from the bluster. Just two years after it opened, Trump’s representatives told the L.A. County Assessor that it was actually worth just $10 million.
Trump has also reported widely varying appraisals of Trump National Golf Club in Westchester County, New York. In financial statements submitted to federal elections officials, he has claimed that the course is worth more than $50 million. In news accounts, he has said that the 101-foot waterfall alone cost $7 million. And yet last month, an ABC News investigation found that he told tax officials the property was worth just $1.35 million.
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