[h=1]Ivanka and Jared Kushner still benefit from $740million business empire while they work in Trump administration as White House releases financial disclosure information on 180 top staffers[/h]
- Details of Ivanka and Jared's finances were part of a massive White House release of financial disclosure forms on Friday
- Ivanka is also holding onto her stake in the Trump International Hotel in Washington D.C., which is valued up to $25 million
- Financial filings were released for more than 100 top administration officials
- Chief strategist, Steve Bannon, disclosed assets between $13m and $56m
- Gary D. Cohn valued his assets between $253 million and $611 million
- Kellyanne Conway disclosed in her filings that she made over $800,000 last year from her consulting firm
Ivanka Trump and her husband Jared Kushner are still benefiting from a $740 million business empire and sprawling real estate portfolio while they serve in White House jobs, according to financial filings.
The revelations about the President's son-in-law and daughter were part of a massive White House release of financial disclosure forms for more than 100 of its top administration officials.
Kushner, who serves as Trump's senior adviser, detailed in his filings that he and Ivanka collected about $195 million in income last year. The New York Times reports they are still the beneficiaries of a combined $740 million fortune, which includes business and real estate investments.
Ivanka is also holding onto her stake in the Trump International Hotel in Washington D.C. She earned between $1 million and $5 million from the stake between January 2016 and March 2017. Her husband's financial disclosures list the value of her stake at between $5 million and $25 million.
The revelations about the President's son-in-law and daughter were part of a massive White House release of financial disclosure forms for more than 100 of its top administration officials.
Kushner, who serves as Trump's senior adviser, detailed in his filings that he and Ivanka collected about $195 million in income last year. The New York Times reports they are still the beneficiaries of a combined $740 million fortune, which includes business and real estate investments.
Ivanka is also holding onto her stake in the Trump International Hotel in Washington D.C. She earned between $1 million and $5 million from the stake between January 2016 and March 2017. Her husband's financial disclosures list the value of her stake at between $5 million and $25 million.
Ivanka revealed this week she will formally join the White House as an adviser. She will file her own financial disclosure forms later.
Kushner resigned from more than 260 entities and sold off 58 businesses or investments that lawyers identified as posing potential conflicts of interest, the documents show.
But his lawyers, in consultation with the Office of Government Ethics, determined that his real estate assets, many of them in New York City, are unlikely to pose the kinds of conflicts that would trigger a need to divest.
'The remaining conflicts, from a practical perspective, are pretty narrow and very manageable,' said Jamie Gorelick, an attorney who has been working on the ethics agreements for Jared and Ivanka.
Kushner began selling off the most problematic pieces of his portfolio shortly after Trump won the election, and some of those business deals predate what is required to be captured in the financial disclosure forms.
For example, Kushner sold his stake in a Manhattan skyscraper to a trust his mother oversees. Kushner, Ivanka and their three minor children have no financial interest in that trust, his lawyer said. The Kushner Companies, now run by Jared Kushner's relatives, are seeking investment partners for a massive redevelopment.
The financial disclosures - required by law to be made public - give a snapshot of the employees' finances as they entered the White House.
Kushner resigned from more than 260 entities and sold off 58 businesses or investments that lawyers identified as posing potential conflicts of interest, the documents show.
But his lawyers, in consultation with the Office of Government Ethics, determined that his real estate assets, many of them in New York City, are unlikely to pose the kinds of conflicts that would trigger a need to divest.
'The remaining conflicts, from a practical perspective, are pretty narrow and very manageable,' said Jamie Gorelick, an attorney who has been working on the ethics agreements for Jared and Ivanka.
Kushner began selling off the most problematic pieces of his portfolio shortly after Trump won the election, and some of those business deals predate what is required to be captured in the financial disclosure forms.
For example, Kushner sold his stake in a Manhattan skyscraper to a trust his mother oversees. Kushner, Ivanka and their three minor children have no financial interest in that trust, his lawyer said. The Kushner Companies, now run by Jared Kushner's relatives, are seeking investment partners for a massive redevelopment.
The financial disclosures - required by law to be made public - give a snapshot of the employees' finances as they entered the White House.
[h=3]TRUMP'S WHITE HOUSE RICH LIST:[/h]Ivanka Trump and Jared Kushner:
Assets worth about $740 million. Their income last year was about $195 million
Chief strategist Steve Bannon:
Assets between $13 million and $56 million. He made up to $2.5 million last year
Economic adviser Gary Cohn:
Assets between $253 million and $611 million. He netted about $77 million last year
Counselor Kellyanne Conway:
Assets worth between $10 million and as much as $39 million. She earned $800,000 last year from her consulting business
Press secretary Sean Spicer:
His income last year was $260,000. Spicer listed four rental properties as his assets, which have a combined worth $1.1 million
Chief of staff Reince Priebus:
He earned $1.4 million in 2016
Assets worth about $740 million. Their income last year was about $195 million
Chief strategist Steve Bannon:
Assets between $13 million and $56 million. He made up to $2.5 million last year
Economic adviser Gary Cohn:
Assets between $253 million and $611 million. He netted about $77 million last year
Counselor Kellyanne Conway:
Assets worth between $10 million and as much as $39 million. She earned $800,000 last year from her consulting business
Press secretary Sean Spicer:
His income last year was $260,000. Spicer listed four rental properties as his assets, which have a combined worth $1.1 million
Chief of staff Reince Priebus:
He earned $1.4 million in 2016
Top officials in the Trump White House tend to be far wealthier - and therefore more entangled in businesses that could conflict with their government duties - than people in previous administrations.
Trump's chief strategist, Steve Bannon, disclosed assets between $13 million and $56 million, including his influential political consultancy, Bannon Strategic Advisors Inc., worth as much as $25 million. Bannon also disclosed that he earned slightly less than $200,000 last year as executive director of Breitbart News Network LLC, before he resigned to join Trump's campaign last August.
The documents show he was vice president of the data firm Cambridge Analytica for more than two years, before resigning in August 2016 to help run Trump's campaign. Cambridge was the main data provider for Texas Sen. Ted Cruz, who waged a bitter battle with Trump for the Republican nomination. Bannon's consulting firm pulled in more than $125,000 from Cambridge last year.
One of the wealthiest members of the Trump administration - aside from the billionaire business owner president himself - is Gary Cohn, who left a top position at Goldman Sachs to become Trump's chief economic adviser.
His assets are valued between $253 million and $611 million. His income last year is as high as $77 million. Little information was given on several of his assets and only indicated they were worth more than $1 million.
White House chief of staff Reince Priebus earned $1.4 million in 2016. While most of the came from his Milwaukee law firm where he is a partner, he also received more than $500,000 in salary and bonuses from the Republican National Committee. He also earned at least $750,000 from equity buyout and partner-distribution income from the law firm Michael Best & Friedrich.
Kellyanne Conway disclosed in her filings that she made over $800,000 last year from her consulting firm. She has assets worth between $10 million and as much as $39 million.
Omarosa Manigault, a White House aide and former Apprentice star, disclosed that she was given a wedding dress and veil worth $25,000 for appearing on TLC reality show 'Say Yes to the Dress.'
White House press secretary Sean Spicer reported rental income of between $50,000 and $165,000 for four investment properties he owns in Northern Virginia. The properties are worth at least $1.1 million. His main source of income last year was working for the Republican National Committee as communications director and as a chief strategist for which he earned $260,000.
Julia Hahn, the 25-year-old former Breitbart writer who now works as Steve Bannon's aide, has a PNC custodial account valued between $500,000 to $1 million. She has also listed stocked on her disclosure of up to $1.5 million. She also earned $117,217 at Breitbart last year and $74,082 from Laura Ingraham's radio show.
Trump's chief strategist, Steve Bannon, disclosed assets between $13 million and $56 million, including his influential political consultancy, Bannon Strategic Advisors Inc., worth as much as $25 million. Bannon also disclosed that he earned slightly less than $200,000 last year as executive director of Breitbart News Network LLC, before he resigned to join Trump's campaign last August.
The documents show he was vice president of the data firm Cambridge Analytica for more than two years, before resigning in August 2016 to help run Trump's campaign. Cambridge was the main data provider for Texas Sen. Ted Cruz, who waged a bitter battle with Trump for the Republican nomination. Bannon's consulting firm pulled in more than $125,000 from Cambridge last year.
One of the wealthiest members of the Trump administration - aside from the billionaire business owner president himself - is Gary Cohn, who left a top position at Goldman Sachs to become Trump's chief economic adviser.
His assets are valued between $253 million and $611 million. His income last year is as high as $77 million. Little information was given on several of his assets and only indicated they were worth more than $1 million.
White House chief of staff Reince Priebus earned $1.4 million in 2016. While most of the came from his Milwaukee law firm where he is a partner, he also received more than $500,000 in salary and bonuses from the Republican National Committee. He also earned at least $750,000 from equity buyout and partner-distribution income from the law firm Michael Best & Friedrich.
Kellyanne Conway disclosed in her filings that she made over $800,000 last year from her consulting firm. She has assets worth between $10 million and as much as $39 million.
Omarosa Manigault, a White House aide and former Apprentice star, disclosed that she was given a wedding dress and veil worth $25,000 for appearing on TLC reality show 'Say Yes to the Dress.'
White House press secretary Sean Spicer reported rental income of between $50,000 and $165,000 for four investment properties he owns in Northern Virginia. The properties are worth at least $1.1 million. His main source of income last year was working for the Republican National Committee as communications director and as a chief strategist for which he earned $260,000.
Julia Hahn, the 25-year-old former Breitbart writer who now works as Steve Bannon's aide, has a PNC custodial account valued between $500,000 to $1 million. She has also listed stocked on her disclosure of up to $1.5 million. She also earned $117,217 at Breitbart last year and $74,082 from Laura Ingraham's radio show.
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Kellyanne Conway disclosed in her filings that she made over $800,000 last year from her consulting firm. White House aide Omarosa Manigault (left) disclosed that she was given a wedding dress and veil worth $25,000 for appearing on TLC reality show 'Say Yes to the Dress'
What's not being provided by the White House is the Office of Government Ethics agreements with employees on what they must do to avoid potential conflicts of interest.
Those documents will never be made public, White House lawyers said, although the public will eventually have access to 'certificates of divestiture' issued to employees who are seeking capital gains tax deferrals for selling off certain assets.
Kushner, for example, received certificates of divestitures for his financial interests in several assets, including several funds tied to Thrive Capital, his brother Joshua Kushner's investment firm.
Those documents will never be made public, White House lawyers said, although the public will eventually have access to 'certificates of divestiture' issued to employees who are seeking capital gains tax deferrals for selling off certain assets.
Kushner, for example, received certificates of divestitures for his financial interests in several assets, including several funds tied to Thrive Capital, his brother Joshua Kushner's investment firm.
He and Ivanka built up companies the documents show are worth at least $50 million each and have stepped away from their businesses while in government service. Like the president himself, however, they retain a financial interest in many of them. Ivanka Trump agreed this week to become a federal employee and will file her own financial disclosure at a later date.
Kushner's disclosure shows he took on tens of millions of dollars of bank debt in 2015 and 2016, including liabilities with several international banks whose interests could come before the Trump administration.
He has as much as $25 million in liabilities to Deutsche Bank, a prime lender to Kushner family real estate ventures as well as a major creditor for Trump Organization-branded real estate projects.
Kushner and his father, Charles, also have liabilities worth much as $5 million to the U.S. unit of Israel Discount Bank. The Kushner Companies have separately acknowledged 'long-standing' dealings with two other Israeli banks.
Kushner's disclosure shows he took on tens of millions of dollars of bank debt in 2015 and 2016, including liabilities with several international banks whose interests could come before the Trump administration.
He has as much as $25 million in liabilities to Deutsche Bank, a prime lender to Kushner family real estate ventures as well as a major creditor for Trump Organization-branded real estate projects.
Kushner and his father, Charles, also have liabilities worth much as $5 million to the U.S. unit of Israel Discount Bank. The Kushner Companies have separately acknowledged 'long-standing' dealings with two other Israeli banks.
The White House said the independent Office of Government Ethics, which reviews financial disclosures to help executive branch officials avoid conflicts of interest, has classified about 25 percent of Trump White House staffers as having 'extremely complex' reports, meaning the filers are very wealthy with complex businesses and potential conflicts of interest.
This was not the case for all of them. Peter Navarro, Trump´s trade adviser, earned a relatively modest $240,000 from University of California-Irvine, with less than $1,000 in royalties from the book 'Death by China,' and speaking fees from the Casket and Funeral Supply Association and other groups.
White House Press Secretary Sean Spicer described the business people who have joined the administration as 'very blessed and very successful,' and said the disclosure forms will show that they have set aside 'a lot' to go into public service.
Neither Trump nor Vice President Mike Pence's assets were included in the documents, nor are Cabinet members. All other senior White House personnel - and those earning more than $161,755 a year - are required to submit disclosure reports.
The president must also file periodic financial disclosures, but he is not required to make another disclosure until next year.
This was not the case for all of them. Peter Navarro, Trump´s trade adviser, earned a relatively modest $240,000 from University of California-Irvine, with less than $1,000 in royalties from the book 'Death by China,' and speaking fees from the Casket and Funeral Supply Association and other groups.
White House Press Secretary Sean Spicer described the business people who have joined the administration as 'very blessed and very successful,' and said the disclosure forms will show that they have set aside 'a lot' to go into public service.
Neither Trump nor Vice President Mike Pence's assets were included in the documents, nor are Cabinet members. All other senior White House personnel - and those earning more than $161,755 a year - are required to submit disclosure reports.
The president must also file periodic financial disclosures, but he is not required to make another disclosure until next year.
