In Defense of Donald Trump*

In the golf world, Donald Trump is regarded as a successful operator of first-rate courses. In the rest of the world, he’s widely known as a relentless promoter with an outsize opinion of his own worth, net and otherwise. Reading the Republican presidential candidate’s personal financial disclosure forms, it’s possible to find evidence supporting both of those reputations.

According to the forms, Trump owns at least 15 golf clubs with about $190 million in revenue. Let’s call that an average of $10 million per golf course—some of the clubs, like Doral, in Miami, have more than one course—and let’s assume, for a moment, that the disclosure described 12-month revenue data (it isn't entirely clear).