Jared Kushner retains millions in property portfolio while serving in White House

Jared Kushner retains millions in property portfolio while serving in White House

Ivanka Trump and Kushner - both of whom serve as senior advisers to the president - held onto real estate and business investments valued at between $240 million and $741 million (225 million euros and 695 million euros).

The report, released late Friday, lays out details about the assets, liabilities and income in the portfolios of what are the wealthiest White House staff members ever when they entered the White House in January and before they started selling off assets that could be considered conflicts of interest in their new posts.

"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 Kushner and Ivanka Trump.

The Washington Post reports that Bannon held assets valued at between $11.8 million and $53.8 million.

Trump also was required to disclose his finances previous year during the presidential campaign.

White House aide Omarosa Manigualt, who starred on NBC's The Apprentice, reported receiving a wedding package from Kleinfeld Bridal that included her wedding dress, a custom veil, and accessories in exchange for an appearance on "Say Yes to the Dress". It was one of his most valuable holdings and delivered millions of dollars in income.

Mr Kushner's disclosure shows he took on tens of millions of dollars of bank debt in 2015 and 2016, including liabilities with several global banks whose interests could come before the Trump administration.

Counsellor to the President earned almost US$850,000 in the past year and held assets worth between US$10 million and as much as US$39 million.

The assets listed on the forms are not the current holdings everyone has today, but ones they held at the time they came into office, a senior administration official said at a briefing with reporters. Ivanka Trump's branded companies, including her clothing and jewelry lines, brought in more than $5 million in 2016 and are valued at more than $50 million.

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.

Ivanka Trump's business empire is worth more than $US50m, and the value of her stake in Trump International Hotel is between $US5m and $US25m, according to the filing of her husband, Jared. Mr Kushner, Ms Trump and their three young children have no financial interest in that trust, his lawyer said. Trump repeatedly promised to tone down his rhetoric; shake-ups in his campaign staff led to predictions of a "softer, gentler Trump"; he teased pivots on immigration; and most recently, the president turned up the flowery language during a joint address to Congress. Deputy NSA KT McFarland and her husband listed double-digit millions in assets and income.

According to Politico, however, resentment is growing against Kushner in an already factionalized and strife-torn White House.

Together, 27 White House officials had assets worth at least US$2.3 billion (S$3.2 billion) when they joined the administration, according to an analysis of the filings.

The financial disclosures are required by law to be made public.

A Wisconsin lawyer and former Republican National Committee chairman, he received more than $560,000 from the RNC - of which he was chairman before taking on his White House job - between salary, bonuses and "rent payments" paid in 2016 and early 2017.

The Trump family wealth has been of huge interest ever since the real estate mogul announced he was running for president.



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