Meanwhile, Jared and Ivanka Continue to Line Their Pockets
- Author: Leroy Wright Apr 02, 2017,
Apr 02, 2017, 8:43
A lengthy financial disclosure form released on Friday by the White House, along with scores of others for senior White House staffers, showed the downscale New Jersey roots of the family business run until recently by Ivanka Trump's husband. The combined assets of 27 White House officials topped $2.3 billion when they joined the administration, The Washington Post calculates, with investments and holdings spanning a wide range of business sectors.
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.
Sean Spicer, the White House press secretary, was paid $US260,000 for his role as chief strategist and communications director at the Republican National Committee, and holds several real estate assets.
Ivanka Trump and her husband, senior Trump adviser Jared Kushner, collected about $195 million in income, according to a new financial snapshot of about 180 of the men and women serving in Donald Trump's White House. The paper also reports that the couple will remain the beneficiaries of their real estate and investment empire, however Kushner has resigned from any management positions he held at over 260 LLCs, corporations and groups and divested dozens of businesses and investments to avoid potential conflicts of interest.
While it remains to be seen how much of their previous ventures Trump's advisers have actually given up since occupying the White House, this administration is arguably the wealthiest in US history, with Bloomberg estimating its worth at $12 billion in December. Bannon also disclosed that he earned slightly less than $200,000 a year ago as executive director of Breitbart News Network LLC, before he resigned to join Trump's campaign last August.
Fears have been raised that interest groups or foreign governments might stay at the luxury Trump hotel in Washington in a bid to win the administration's favour. The documents show income and assets at the time they started working for the U.S. government - before any assets were sold or disposed of.
President Donald Trump and Vice President Mike Pence weren't in the release, but because they are elected officials, they will have to disclose their finances eventually.
Counselor to the President Conway made at least $842,614 in 2016, and has assets valued between $11 million to $44.2 million.
Kellyanne Conway, a top aide from Trump's campaign who has had a somewhat choppy term in office so far - famously insinuating Trump may have been shrivelled by a microwave oven - held assets worth up to $39 million. This presents potential for a conflict of interest.
White House press secretary Sean Spicer-who earned $260,000 in salary and bonuses previous year at the RNC-said Friday that the staffers' wealth highlights their selflessness due to what they left behind to join the administration. About $190,000 came from consulting fees for Breitbart, roughly $125,000 was from a data firm that worked for the Trump campaign and about $60,000 came from a conservative nonprofit organization.
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.
The assistant to the President for intergovernmental and technology initiatives accumulated assets as a Maryland developer valued as high as US$424 million.
Solov wrote that Bannon resigned "on or about November 13 - the same day Bannon's financial form lists as the start date of his White House job".
Ivanka Trump, who just this week formally said she would join the West Wing after serving as an informal adviser to her father, has yet to file her own disclosure forms.