- US President Trump's foreign licensing business earned $59.5M in 2025, a sharp rise
- Gulf countries contributed over 60% of licensing income, with UAE, Saudi, Qatar leading
- UAE projects generated $22M, Saudi $9M, and Qatar $5M in licensing revenue for Trump
US President Donald Trump's foreign real estate licensing business generated $59.5 million in 2025, marking a sharp increase as developers across the Gulf paid to use the Trump name on luxury properties, golf courses and resorts.
Foreign licensing revenue rose 71% from 2024 and was nearly 10 times the level recorded in 2023. More than 60% of the licensing income came from projects in Gulf countries, making the region a major source of Trump's overseas real estate earnings, CNBC reported.
UAE, Saudi Arabia and Qatar Drive Gulf Revenue
Projects linked to the United Arab Emirates generated about $22 million in licensing income for Trump in 2025. Saudi Arabia followed with around $9 million, while Qatar contributed about $5 million.
A significant portion of the money came through two developers, Saudi-linked Dar Al Arkan and its Dubai-based international arm, Dar Global, and UAE-based Damac.
Trump reported $25.8 million connected to projects involving Dar Al Arkan and Dar Global. Damac-related projects generated another $11.3 million.
Under the licensing model, local developers generally finance and construct the properties while the Trump Organization receives payments for allowing them to use the Trump brand. In some projects, the company also provides management services.
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Gulf Deals Raise Questions Over Conflicts
The increase in foreign income has drawn attention because Trump is both the sitting US president and the beneficiary of a private business connected to overseas developers.
CNBC found no evidence that any licensing payment influenced an administration decision, that a developer received special treatment or that Trump personally intervened on behalf of a company. However, ethics experts said the business relationships raise questions about potential conflicts of interest.
The issue is particularly significant in the Gulf, where private developers can have close links with governments, sovereign funds and state-controlled companies.
In Qatar, Trump reported $5.25 million in licensing income connected to Dar Global's plans for a Trump-branded golf club and luxury villas. The project is part of the Simaisma coastal development led by Qatari Diar, a real estate investment company established by Qatar's sovereign wealth fund.
In Oman, Trump reported nearly $1 million in licensing income tied to the Aida development, which involves Dar Global and Omran Group, the Omani government's tourism development arm.
These arrangements have also raised legal questions surrounding the Foreign Emoluments Clause of the US Constitution, although courts have not definitively determined whether payments through private developers connected to foreign governments would fall under its scope.
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