Foreign money at the president's own properties: LIV, delegations, and clubs

Foreign-state money flows to the president through patronage of his existing properties. LIV Golf - created and funded by Saudi Arabia's Public Investment Fund, which poured over $1 billion a year into it and was on track for roughly $6 billion cumulative - stages tournaments at Trump National Doral, Bedminster and Washington DC. Trump's 2025 disclosure shows Doral alone generating $121.9 million in golf and hotel revenue, Bedminster $37.6 million, with Scottish Turnberry adding ~£23.6 million.

When the PIF announced in 2026 it would stop funding LIV after that season, the tour's remaining US events were propped up at a Trump property - Trump National in Virginia - keeping Saudi-built sports revenue routing through the family even as the sovereign backer withdrew. Trump, who embraced LIV after the PGA pulled events from his courses post-January 6, has publicly pushed a PGA-LIV reunification worth an estimated $395M to his golf interests.

Beyond golf, 55 officials from 21 countries made 60 visits to Trump properties in his first year back in office, and eight foreign governments hosted or sponsored five events there - the pattern the first-term emoluments suits targeted (Kuwait, Saudi, Qatar, Malaysia paying at Trump properties), now operating without the emoluments-enforcement apparatus that once policed it.

Documented

Legal but conflicted; Foreign Emoluments questions (aggregate)

Doral $121.9M golf/hotel revenue; Bedminster $37.6M; Turnberry ~£23.6M; Saudi PIF put >$1B/yr into LIV events held at Trump courses; 60 foreign-official visits and 5 foreign-government events at Trump properties in 2025 (CREW)

Ongoing 2025-2026