US PRESIDENT DONALD Trump has resigned as a director of two Irish companies that own and operate the billionaire’s hotel and golf resort in Doonbeg, Clare.
The move comes just weeks after he told media that he “couldn’t care less” about the resort following complications with planning permissions for a planned expansion.
TIGL Enterprises Limited and TIGL Management Limited, which own and operate the business in Doonbeg, filed documents to the Companies Registration Office (CRO) last week removing Trump as a director.
His resignation is also consistent with his previous indication that he would be stepping back from running his business empire to avoid conflicts of interests and concentrate on his new role as US President.
The billionaire’s diverse business empire includes hotels and golf courses across the globe, as well as a winery and a modelling agency. The undertakings are expected to be managed by three of his children: Ivanka, Donald Jr, and Eric Trump.
Earlier this month, accounts for TIGL Enterprises Ltd revealed that accumulated losses at the company had doubled last year to more than €5 million. Trump remains the firm’s sole shareholder.
He acquired the resort in 2014 for around €8.7 million. It was valued at €23 million by the businessman just one year later in financial disclosures filed with the Federal Election Commission.
The company incurred a loss of €2,578,838 during 2015, bringing its total accumulated losses to €5,128,639 since it was established by Mr Trump in January 2014.
TIGL Management Ltd reported accumulated profits of €146,938 in 2015 and had a cash balance of €253,597 at the end of the accounting period.
The remaining directors of the two companies include Ivanka, Donald Jr, and Eric Trump.
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