$106.1Mtaken in
Trump-branded towers and golf abroad
Foreign developers pay the Trump Organization to put the Trump name on towers, golf clubs and hotels in the Gulf, Vietnam, India and the Maldives, and Trump reports the fees as his own income. He also opened a second course at his Aberdeenshire resort in Scotland.
- Launched
- Oman project since 2022; Qatar, Vietnam, India and Maldives deals in 2025 and 2026
- Owned by
- The Trump Organization licenses the Trump name; the fees appear on Trump’s own financial disclosure
On Who He Hired: Donald Trump
The money 14
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$45 million
DisclosedIn the total
At least $45 million from foreign real estate licensing and management deals in 2024, the election year, from his annual financial disclosure (MS NOW tally).
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$61.1 million
DisclosedIn the total
License and management fees from Trump-branded projects abroad in 2025, adding the 21 lines on his annual financial disclosure: $38.4 million from the Gulf, $10.2 million from India, $5 million each from Vietnam and Romania, $1.6 million from the Philippines, $578,190 from Turkey and $284,398 from Indonesia. Some of the fees were booked as owed by another Trump company rather than paid in cash.
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$38 million
Disclosed
Licensing and management fees from Gulf real estate projects in Oman, Qatar, Saudi Arabia and the UAE in 2025, from his 927-page annual financial disclosure (The National). The filing’s lines for those projects add up to $38.4 million. Part of the $61.1 million counted for 2025, so it isn’t added separately.
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Almost $60 million
Disclosed
Almost $60 million from real estate licensing and management deals around the world in the first year of his second term, from his annual financial disclosure (MS NOW tally). Not in the total: MS NOW gives no exact figure, so the total uses the narrower $38 million Gulf figure for the same year.
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$28.1 million
Disclosed
Revenue from real estate partners in the Middle East in 2024, from his annual financial disclosure (Mother Jones tally). Part of the $45 million for that year.
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$10 million
Disclosed
A “development fee” in 2024 for an unannounced project in Mumbai with Reliance 4IR Realty Development, a subsidiary of Reliance Industries, from his annual financial disclosure. Part of the $45 million for that year.
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$20.6 million
Disclosed
License fees in 2025 from Saudi developer Dar Al Arkan’s companies for projects in Saudi Arabia, Dubai and Oman, from his annual financial disclosure: $9,243,574, $10,361,459 and $949,642. The National put the figure at about $21.9 million. Part of the $38 million Gulf figure.
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$12.6 million
Disclosed
Management and license fees in 2025 from UAE developer Damac’s companies for projects in Dubai and Abu Dhabi, from his annual financial disclosure. The National put the figure at about $12.5 million. Part of the $38 million Gulf figure.
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$5.2 million
Disclosed
License fee for the Trump golf club and resort project near Doha, Qatar, from his annual financial disclosure for 2025, which names Dar Global Holdings as the licensee. Part of the $38 million Gulf figure.
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$61 million
Disclosed
At least $61 million in license fees since 2021 from projects with Saudi developer Dar Al Arkan and its arm Dar Global, from his financial disclosures (MS NOW tally). CREW’s earlier count, in February 2026, was more than $26 million from two Dar Global projects since 2023. Overlaps the yearly figures above.
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Almost $10 million
Disclosed
Almost $10 million in licensing fees since 2022 from Dar Al Arkan and Dar Global’s AIDA project in Muscat, Oman, from his financial disclosures (MS NOW tally). Mother Jones reported $1 million in 2024 alone.
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$5 million
Disclosed
License fee from Hung Yen Hospitality Services, the company behind the Hung Yen golf project in Vietnam, on his annual financial disclosure for 2025. Reuters reported in August 2025 that developer Kinhbac City and its partners paid the Trump Organization $5 million for the brand.
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$380 million
Sales
First-day bookings at Trump Residences in Gurugram, India, as reported by developers Smartworld and Tribeca: Rs 3,250 crore, about $380 million at May 2025 rates. These are the developers’ sales, not Trump’s income. His disclosure for 2025 lists a $3,637,775 license fee from Riverday Infrastructure, the company that registered the project with Haryana’s real estate regulator, and Havenhues Infratech.
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$242,000
Other money
Public money the Scottish government awarded through VisitScotland to the Nexo Championship, a DP World Tour event at Trump’s Aberdeenshire resort: £180,000, about $242,000 at August 2025 rates. The money supports the event, and the recipient wasn’t named.
What the labels mean
- ConvictedA criminal jury found them guilty, or they pleaded guilty and were sentenced.
- Found liableA civil jury ruled against them.
- Court ruledA judge ruled against them or their policy.
- Watchdog foundAn inspector general, a congressional investigation, Congress’s auditors at the GAO, or a regulator.
- AdmittedThey acknowledged it, or their own filings and records show it.
- On recordSomething they said or did in public.
- ReportedNews reporting they deny or haven’t confirmed.
- AllegedAccusations from lawsuits, complaints or unnamed sources that haven’t been proven.
Admitted or on record 5
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Admitted
Trump’s 2026 financial disclosure shows $38 million in licensing fees from Gulf projects in Oman, Qatar, Saudi Arabia and the UAE.
The 927-page filing lists about $20.6 million from Saudi developer Dar Al Arkan’s companies for projects in Saudi Arabia, Dubai and Oman, about $12.6 million from UAE developer Damac and a $5.25 million license fee for a golf project in Qatar. The Trump Organization said “the breadth and depth of this filing further underscores our commitment to transparency.” Trump told reporters: “I don’t get involved … We have funds that run my money.”
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On record
Trump’s ethics pledge for his second term lets the Trump Organization make new deals with foreign private partners, which his first-term pledge barred.
MS NOW counted at least 19 new Trump golf courses, hotels, resorts, towers and other projects under development or pending abroad by August 2026, in places including Romania, Georgia, South Korea, India, Vietnam, the Maldives and the Gulf. Trump earned almost $60 million from licensing and management deals around the world in the first year of his second term, his disclosure shows. A Trump Organization spokesperson said “the company operates completely separate from the presidency” and has an independent outside ethics advisor. A White House official said: “This has nothing to do with the White House.”
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On record
Trump Residences in Gurugram, India sold out on its first day with bookings worth Rs 3,250 crore, and a Hyderabad project became India’s eighth Trump project in August 2026.
Developers Smartworld and Tribeca reported the Gurugram sell-out in May 2025. The Hyderabad towers, built with Ira Realty, are projected at Rs 3,500 to 4,200 crore in sales. Those are the developers’ sales, not Trump’s income. His disclosure for 2025 lists license fees of $3,637,775 from the Gurugram project’s licensees and $1.5 million from IRA The Edge Developers and Reliance 4IR Realty Development for Hyderabad. Eric Trump said “India continues to be one of the world’s most exciting luxury real estate markets.”
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On record
The Trump Organization and Dar Global announced a tokenized Trump hotel in the Maldives, and World Liberty Financial later said it would tokenize the project’s loan revenue.
The 80-villa resort, about 25 minutes by speedboat from Malé, was announced November 17, 2025 and is due to open by the end of 2028. On February 19, 2026, World Liberty Financial said it plans to tokenize loan revenue interests in the resort with Securitize and DarGlobal PLC. Eric Trump said: “We are delighted to bring the Trump brand to the Maldives in collaboration with Dar Global.”
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On record
Trump opened a second golf course at his Aberdeenshire resort during a July 2025 trip to Scotland, with Scotland’s First Minister in the crowd.
Trump opened the New Course at Menie on July 29, 2025, after a dinner and a meeting with First Minister John Swinney. In August 2025 the Scottish government faced calls to explain why it awarded £180,000 of public money, through VisitScotland, to the Nexo Championship, a DP World Tour event at the resort. The government said negotiations were ongoing to make sure the money supports delivery of the event.
Reported and alleged 4
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Reported
The Trump Organization’s first deal in Qatar, a golf resort, is being built with Qatari Diar, a state-owned real estate company chaired by a Qatari government minister.
The Trump Organization signed on April 30, 2025 to put a Trump International Golf Club and Trump Villas in the Simaisma development north of Doha, which The Media Line valued at $5.5 billion and Mother Jones at about $7 billion. Eric Trump attended the signing, and Trump later reported a $5.25 million license fee from the project. Ethics critics said the deal contradicts the company’s pledge to avoid deals with foreign governments. The Trump Organization says its agreement is only with Dar Global, the Saudi developer, and his disclosure names Dar Global Holdings as the licensee.
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Reported
Vietnam approved the $1.5 billion Trump golf project in Hung Yen a week before its groundbreaking, as it negotiated tariffs with Washington.
Prime Minister Pham Minh Chinh broke ground with Eric Trump on May 21, 2025 and said Eric Trump’s visit “motivated us to expedite this project.” Vietnam faced a 46% U.S. tariff announced April 2, 2025. Eric Trump said the Vietnamese projects would be “the envy of all of Asia and of the entire world.”
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Reported
Farmers displaced for the Trump golf project in Vietnam were offered $12 to $30 per square meter of farmland, Reuters reported.
One farmer was offered $3,200 and rice for her plot. Developer Kinhbac City and its partners paid the Trump Organization $5 million for brand licensing rights, according to regulatory filings and a source, and Trump’s disclosure for 2025 lists a $5 million license fee from the project. Reuters reported that the Trump business will run the club and is not involved in compensating farmers. The Trump Organization and Kinhbac City did not reply to questions on compensation rates.
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Reported
The Trump project in Oman is being built by Saudi developer Dar Global on land provided by the Omani government.
Trump earned $1 million in licensing fees from the Muscat project in 2024, according to his financial disclosure, and MS NOW counted almost $10 million since 2022 in an August 2026 tally. Mother Jones put the combined value of Trump-linked projects in the Gulf at roughly $17 billion.