"It will cost me anywhere from $3 to $5 billion to be president," Trump said during his closing press conference at the G7 summit in Biarritz, France.
Trump’s comment came in response to a question about whether he will profit from the United States hosting next year's G7 summit at his property in Doral, Florida.
"I'm not going to make any money", Trump said. "I don't want to make money. I don't care about making money".
The US president said that Doral's location and amenities make it the perfect place to host the leaders of the seven leading industrialised countries next year.
Trump said that his team looked at 12 different properties around the United States to host the G7 summit.
Earlier on Friday, Trump said that the next G7 summit could be held at his resort in Miami, located a five-minute drive away from an international airport.
Trump also said there would be no "surprise guests" after Iranian Foreign Minister Mohammad Javad Zarif showed up on the sidelines of this year’s G7 summit in Biarritz.