Speed Reads

Things that make you go hmmm

President Trump's Mar-a-Lago just doubled its initiation fee

Weeks before President Trump took office, Trump Organization's Mar-a-Lago resort doubled its initiation fees. As of Jan. 1, it now costs $200,000 to join the resort in Palm Beach, Florida — on top of the $14,000 a year in membership dues.

The resort had reportedly "been considering an increase for some time," CNBC reported. However, the drastic price increase shortly after Trump was elected president has raised eyebrows:

But the timing is likely to add to criticism that the Trump Organization is trying to benefit from the president's election.

Either way, a membership at Mar-a-Lago now includes a chance to mingle with the 45th president. Trump plans to use the resort as his occasional "Winter White House." He has visited twice since his election — first for Thanksgiving and then over Christmas and New Year holidays. [CNBC]

Apparently, initiation fees were once $200,000, before they were slashed to half of that in 2012, reportedly because of a "decline in memberships," CNBC reported. It's not clear if this latest increase is due to a huge new surge.