Trump family to receive $5 mln in license fees for mega golf course development in Vietnam
The Trump family business is set to receive $5 million in license fees for a mega golf course complex in the northern Vietnam province of Hung Yen, according to a financial disclosure report released by the U.S. Office of Government Ethics.
The report shows that Hung Yen Hospitality Services JSC, a subsidiary of Vietnamese developer Kinh Bac City Development Holding Corporation (HoSE: KBC), will pay the fee to DT Marks Vietnam LLC.
This entity is 79% owned by DTTM Operation LLC, a Trump-related trademark management firm, and 20% owned directly by the Trump family.
Illustration of the Trump International Hung Yen project. Photo courtesy of KBC.
While Trump’s financial filing lists the licensing fee at $5 million, DT Marks Vietnam LLC has so far recorded $4 million in receivables, suggesting that part of the payment is still pending.
The report noted that the contract’s total value is “not readily ascertainable,” indicating that additional components may influence the final valuation of the deal.
In September 2024, Hung Yen Hospitality Services and the Trump Organization announced a partnership to develop a $1.5 billion golf, eco-tourism, and urban complex, which officially broke ground in May.
The complex, named Trump International Hung Yen, is the first Trump-branded project in Vietnam and is expected to become an iconic travel destination in the Southeast Asian country.
The mega project spans nearly 990.43 hectares across six communes in Khoa Chau district. Construction is scheduled to be completed by Q2/2029.
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