Trump's sale in US boosts funds

Published on Monday 23 June 2008 22:42

DONALD Trump, the tycoon hoping to develop a £1 billion golf course in Aberdeenshire, has doubled his money on a Florida mansion by selling it to a Russian billionaire for $100 million (£50 million).

He bought the Maison de l'Amiti for $41 million in 2004 at a bankruptcy sale and sold it this week, making it the most expensive house in Florida.

The buyer, fertiliser tycoon Dmitry Rybolovyev, said he did not intend to live in the house but would hold on to it as an investment. He has reportedly promised to continue to fly an American flag at the gates.

The Florida deal is the latest in a string of money-making ventures. At the end of May Mr Trump sold one of his Atlantic City casinos for $316 million (161 million). The Marina Hotel Casino was sold to a New York company who aim to develop it under the name Margaritaville.

Mr Trump, whose mother came from Lewis, hopes his next big property deal will be in Scotland. He plans to build two championship golf courses, a five-star hotel, 1,000 holiday homes and 500 houses near Balmedie.