(Photo: President Donald Trump with Rolex CEO Jean-Frederic Dufour via Matthew Stockman/Getty Images)
President Donald Trump recently became the first sitting U.S. President to attend the US Open in 25 years. Escorted inside Arthur Ashe Stadium by Rolex CEO Jean-Frédéric Dufour, it was impossible to ignore the conflict of interest. The Swiss luxury watch manufacturer is currently facing a 39% import tariff. If Rolex were to be excluded from those tariffs through a friendly relationship with the President, it would save the company billions of dollars in expenses over Trump’s four-year term.
But the truth is that Trump’s attendance at the US Open was merely a microcosm of a larger problem. The US Open has become a victim of its own success, generating record revenues while simultaneously alienating the very fans who built its popularity.
The US Open’s VIP guest list this year was so extensive that it would have made the Met Gala look like a high school house party. Dozens of the world’s most famous and influential celebrities were shown on television throughout the two-week tournament, including Taylor Swift, Oprah Winfrey, Stephen Curry, Bruce Springsteen, Wayne Gretzky, Hugh Jackman, Ben Stiller, Bob Iger, Adam Silver, and Tommy Hilfiger.
If that wasn’t bad enough, it’s about to get a whole lot worse. Despite the USTA having nearly $300 million in cash reserves, organizers are now removing thousands of cheaper seats to replace them with higher-priced, higher-margin luxury suites.