Donald Trump has claimed that being president has cost him between $3 - $5bn as he denied profiting from his position.
The US President was quizzed on his plan to hold next year's G7 at Trump National Doral Golf Resort.
The US is next in line to host the global gathering in 2020 and Mr Trump said officials "haven't found anything that's even close to competing with it."
But Mr Trump insisted it was not to make money from the global summit.
He told reporters that he had not entered the White House to make money insisting: "It will cost me probably between $3 and $5 bn to be President.
He added: "I used to get a lot of money to give speeches - now I give speeches all the time."
Trump has previously been criticised for hosting foreign leaders, including China's President Xi Jinping, at his Mar-a-Lago Golf Club in Florida.
Trump claimed he will not make any money from hosting, adding, "It's not about me, it's about getting the right location."
Trump told reporters he "couldn't care less" about making money. "The only thing I care about is this country," he said.
The President said officials had examined 12 different sites for the summit, but said his Doral-Miami club is the best choice in terms of location and infrastructure.
"My people wanted it," Trump said about the club, adding, "I'm not going to make any money."
The venue is set in 800 acres, boasts four golf courses and 643 rooms, plus more than 100,000 square feet of event space - including the Donald J Trump Grand Ballroom.
In a press conference following this year's meeting in Biarritz Mr Trump said he had asked Boris Johnson "what took you so long?" for him to become Prime Minister.
The US President said: "I've been waiting for him to PM for about six years.
"He’s very smart, he’s very strong, he’s very enthusiastic."
