In July, Forbes estimated that former President Donald Trump had a net worth of $6.6 billion. That, according to Forbes, was a decrease from a net worth of “over $8 billion” in late March but was higher than the $4.1 billion net worth before his company, Trump Media and Technology Group, went public.

Trump Media did a lot to increase his net worth, although the value of its shares has fluctuated. Much of Trump’s net worth, however, comes not from tech, but from physical properties. And one of the Trump Organization’s top assets, according to Reuters, is his golf course in Jupiter, Florida.

Reuters reporters Tom Bergin, Lawrence Delevingne and Koh Gui Qing, in an article published on August 21, explain, “A decade ago, before Trump ran for president for the first time as a Republican in 2016, his golf courses and resorts were a drain on the company’s cash flow, which mostly came from real estate, according to a Reuters analysis of court and tax records and other financial disclosures. But today, the golf and resort business is the biggest driver of the company’s cash flow — accounting for about four-fifths of the approximately $80 million in cash after operating expenses that will be generated this year by the hundreds of companies ultimately owned by Donald Trump, known collectively as the Trump Organization.”

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The journalists add, “The group’s annual revenues are over $600 million, according to the Reuters estimate.”

Bergin, Delevingne and Qing describe “the health of Trump’s golf business” as “a bright spot at a precarious moment for the Trump Organization” — which, they note, “faces more than $530 million of court judgments and interest against Trump, some family members who hold senior roles, and his companies.”

The reporters point out that Mar-a-Lago continues to be highly profitable for the Trump Organization, reflecting the “new geography” a “family business” that was “long based in New York” but has “gravitated recently to Florida’s southeast coast.”

“The jewel in the crown of Trump’s business is the Mar-a-Lago Club in Palm Beach, the ornate resort where the former president lives and receives a stream of politicians and influence-seekers: that will generate an estimated $24 million in cash in 2024, according to the Reuters analysis,” Bergin, Delevingne and Qing explain. “Three nearby golf-focused properties are also resurgent, with revenue jumping in the wake of the COVID pandemic. Trump National Doral, the expansive but leveraged Miami-area golf hub, will generate an estimated $10.5 million cash, while smaller clubs in Jupiter and West Palm Beach will yield an estimated $8.4 million and $10.4 million, respectively, according to the Reuters estimates.”

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Read Reuters’ full report at this link.