Ivanka Trump and Jared Kushner Still Benefiting From Business Empire, Filings Show
Ivanka Trump and Jared Kushner, President Trumps daughter and son-in-law, will remain the beneficiaries of a sprawling real estate and investment business still worth as much as $741 million, despite their new government responsibilities, according to ethics filings released by the White House Friday night.
Ms. Trump will also maintain a stake in the Trump International Hotel in Washington, D.C. The hotel, just down the street from the White House, has drawn protests from ethics experts who worry that foreign governments or special interests could stay there in order to curry favor with the administration.
It is unclear how Ms. Trump would earn income from that stake. Mr. Kushners financial disclosures say that Ms. Trump earned between $1 million and $5 million from January 2016 to March 2017, and puts the value of her stake at between $5 million and $25 million.
The disclosures were part of a broad, Friday-night document release by the White House that exposed the assets of as many as 180 senior officials to public scrutiny. The reports show assets and wealth that senior staff members owned at the time they entered government service.
Although Mr. Kushner has stepped down from his management positions at the more than 200 entities that operated aspects of the family real estate business, he will remain a beneficiary of the vast majority of the business he ran for the past decade, through a series of trusts that already owned the various real estate companies.
The disclosures do not reveal the names of investors and lenders to ventures that Mr. Kushner is retaining a stake in. For example, the form shows Mr. Kushner is retaining a stake in a limited liability corporation that owns a Trump-branded luxury rental high rise building in Jersey City, worth as much as $5 million. That project was financed with tens of millions of dollars from wealthy Chinese investors through a controversial visa-for-sale program called EB-5.
However, the filing does not disclose the names of any of those investors or partners in any of his other projects.
He is still the sole primary beneficiary of the majority of the trusts that will retain assets, with his children as the secondary beneficiary.