President Donald Trump’s daughter Ivanka Trump and her husband, Jared Kushner, cashed nearly $82 million in outside income while serving as senior advisers at the White House during 2017, The Washington Post reported.
While Trump’s stake in the Trump International Hotel landed her $3.9 million, she bagged an additional $2 million in severance from the Trump Organization. Kushner, on the other hand, reported $5 million in income from Quail Ridge, a Kushner Cos. apartment complex in New Jersey, according to financial disclosure forms.
The fact that both Trump and Kushner have been banking on cash from outside companies, could result in potential conflicts of interest in the future. Both the first daughter and her husband had decided to give up running their companies in favor of working as unpaid senior advisers to the president. Kushner divested some of his stakes but the couple has maintained large shares in both their family businesses.
However, the spokesperson for Kushner and Trump’s ethics counsel Peter Mirijanian said the two have followed all ethic rules and the $82 million worth of financial disclosure does not affect their net worth.
“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,” Mirijanian said in an email statement. “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.”
Trump earned at least $12 million last year with more than $5 million coming from the trust that manages her clothing brand. The latest filings also show she will now be receiving fixed annual payments rather than profit-based payments from three of the companies overseeing the Trump Organization’s international projects. According to the filings, her share of the annual imbursement in 2017 was $747,622.
Her husband, however, reported cashing in at least $70 million from dozens of projects related to his family’s real estate business, the filings show.
Kushner also stated he had previously failed to reveal his stakes in a number of limited-liability companies. According to the new filings, Kushner reportedly let go of the stakes before joining the White House as a senior adviser and his earlier failure to show the assets was because of an accounting glitch.
His parent company, Kushner Cos. has reported over $2 billion in transaction in the past two years.
While there is still debate on whether the extended flow of cash may result in conflicts of interest for the couple, who should have divested from outside organizations, there is one Kushner who does not think much of ethics watchdogs anyway.
In a recent interview, Kushner’s father branded ethics watchdogs as “jerks,” who can’t get a job.
“All they want to do is assure that poor, not successful people go into government,” Charles Kushner told The Real Deal in an interview. “Because if you’re successful, you shouldn’t be penalized by stupid ethics watchdogs raising things that are potential.”
“I look at what my kids have sacrificed to go into government, with the only intent of doing good for this country and for the world, and to help people,” he said, apparently, referring to his son and the president’s daughter. “They sacrificed a lot.”
Thumbnail/ Banner Credits: REUTERS/Amir Cohen