FIRST AIRED: June 23, 2016

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>> Thank you, everybody.>> Donald Trump says he has the business acumen to make America great again. I'm Tom Bergin, Reuters Specialist Correspondent. Over the past ten years, golf has been one of Donald Trump's most high-profile areas of investment. We've been crunching the numbers on his golf courses to asses just how much business acumen he's displayed in these investments.
Based on our analysis of it's disclosures, the accounts, and discussions with various property agents and indeed with a review of Donald Trump's own statements, what we've found is the Trump organization has invested over a billion dollars. They say, in golf. The assets that they've accumulated are probably worth about 5 and 600 million so on the basis of that information, it looks like Donald Trump is in the red on his golf.
Donald Trump rejects our analysis. He was very clear. But more importantly, he says that thinking about his golf investments, as golf investments is actually to miss the point. Trump's argument is these are not about golf. These are about property development. He says that over time, he and his companies plan to build many, many thousands of houses on this land.
Therefore, he says that these should be seen and valued as property plays in the future. At the end of the day they will depend upon a lot of zoning and planning decisions over the year. And of course it will also depend upon whether there is a commercial market for this properties.
Some of the places where Donald Trump owns land that could be developed conceivably is quite remote in Ireland and Scotland. And state agents and others in the area are doubtful as to whether there is a market for thousands of new homes on those properties. Donald Trump has put great store in his abilities as a businessman saying that his track record gives him the qualities that America needs.
However his golf investments, based on the assessment that we've made, probably are not the best example of Trump's business acumen over the years.