News World Ivanka Trump and hubby worth almost $1 billion

Ivanka Trump and hubby worth almost $1 billion

Trump administration asset and wealth
Ivanka Trump's share in the Trump International Hotel may be as high as $US25 million. Photo: Getty
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US President Donald Trump has released details of the personal finances of his staffers, which show son-in-law Jared Kushner and daughter Ivanka are worth almost $A1 billion.

The revelations were part of a release of financial interests legally required by the White House which detailed the wealth assets of around 180 senior Trump officials at the time they entered government service and before they started selling stocks and other assets that could pose conflicts of interest.

In disclosing the figuresThe New York Times reported that Ms Trump will retain a stake in the Trump International Hotel in Washington, D.C., which has been the subject of controversy and protests from ethics experts.

Their concerns have centred on whether the hotel could allow the Trumps to profit from foreign governments or special interests who stay at the hotel “in order to curry favour with the administration”.

The Times reported that Mr Kushner’s disclosures showed that Ms Trump earned between $US1 million and $US5 million ($A1.3 million and $A6.55 million) from the hotel between January, 2016, and March, 2017, and estimated the value of her stake at between $US5 million and $US25 million ($A6.55 million and $A32.8 million).

According to a tally by Bloomberg, the figures make Mr Trump’s administration the wealthiest in US history, with senior staff and cabinet worth around $12 billion ($A15.7 billion).

The White House disclosed Gary Cohn, former Goldman Sachs president and now head of the White House National Economic Council, had assets worth at least $US230 million ($A301 million), but possibly much more.

Little information was given on several of his assets, only indications they were worth more than $US1 million ($A1.3 million).

Mr Cohn had income ranging from $US48 million to nearly $US77 million ($A63 million to $A101 million) in the year preceding his engagement in the White House, though it could be much higher.

Jared Kushner’s 54-page report — which included most of the assets and income of his wife, Ivanka Trump — included scores of assets worth six- and seven-figures.

The New York Times reported that the couple’s real estate and investment empire was worth as much as $US741 million ($A971 million).

Mr Kushner held executive positions with 266 LLCs, corporations, groups and non-profits, which he has resigned from since January.

Democrat politicians have expressed concern about potential conflicts of interest for Kushner, who like Mr Trump is a New York real estate developer.

Mr Trump this week officially added his daughter Ivanka to his staff. She had a fashion business and was involved in her father’s global real estate development business, but stepped aside from managing the businesses when her father entered the White House.

Senior adviser Steve Bannon’s pre-White House bank accounts, real estate and other holdings were valued at between $US3.3 million and $US12.6 million ($A4.3 million and $A16.5 million).

White House Chief of Staff Reince Priebus had assets of between $US604,000 and $US1.16 million ($A792,000 and $A1.52 million) and income of $US1.42 million ($A1.86 million).

About $US566,000 ($A742,000) of his income came from the Republican National Committee and the rest from his partnership in a Milwaukee law firm.

Neither Mr Trump nor Vice President Mike Pence’s assets were included in the documents.

Mr Trump has faced questions about conflicts of interest with his hotel and golf course businesses since his election in November.

He has handed off control to his two elder sons, but ethics watchdogs have complained that the arrangements do not go far enough to avoid conflicts, and have urged Mr Trump to divest fully or set up a blind trust for his assets.

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