President Trump Speaks At White House Prison Reform Summit
Financial disclosure forms released Monday show that Ivanka Trump and Jared Kushner made at least $82 million last year from multiple streams of outside income while they were senior White House advisers, according to the Washington Post.
Despite public scrutiny of their finances amid questions of conflicts of interest, a spokesman for the couple’s lawyer said Trump and Kushner have followed the rules.
The couple is making huge amounts of money while serving in government, though there have been some changes to their revenue streams. The money Trump receives from limited liability companies associated with the Trump Organization has been restructured into annual fixed payments of $1.5 million, “a change made in consultation with Office of Government Ethics officials to reduce her ‘interest in the performance of the business’" according to the Post.
She also made $3.9 million from the Trump International Hotel in Washington, D.C. and more than $2 million from severance from the Trump Corp. last year. Her book Women Who Work netted her a $289,300 advance from Penguin Random House.
Kushner, however, failed to report multiple stakes in a handful of companies, with the documents showing he did not report those assets because of an "accounting oversight," despite divesting his stakes before taking up his position in the White House, the Post said. He is not involved in managing Kushner Co., his family's real estate company, but had $2 billion worth of transactions during 2016 and 2017, according to the Post.
A different Post analysis also pointed out that around 90% of his real estate holdings were still under his control, though he sold his stake in 666 Fifth Avenue, the beleaguered midtown building for which he famously paid $1.8 billion at the height of the real estate bubble. He also took in $5 million from an apartment complex in New Jersey run by the family business.
Peter Mirijanian, a spokesman for Abbe Lowell, Kushner's and Ivanka Trump's lawyer, said in an email statement to the Post:
Since joining the administration, Mr. Kushner and Ms. Trump have complied with the rules and restrictions as set out by the Office of Government Ethics. As to the current filing which OGE also reviews, their net worth remains largely the same, with changes reflecting more the way the form requires disclosure than any substantial difference in assets or liabilities.
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