Goldman veterans brought vast wealth to Trump's White House

Apr 07, 2017, 02:31
Goldman veterans brought vast wealth to Trump's White House

Kushner left high-level positions at more than 200 entities related to his family's real estate business, according to the documents, but will continue to reap benefits from many holdings related to the business empire he ran with his father. But his lawyers, in consultation with the Office of Government Ethics, determined that his real estate assets, many of them in New York City, are unlikely to pose the kinds of conflicts that would trigger a need to divest.

Jared Kushner and Ivanka Trump hold hundreds of millions of dollars worth of assets while working for Donald Trump's administration.

Press secretary Sean Spicer, a familiar figure around the world as the face of an administration at war with media, was worth between $2.9 million and $6.6 million, according to the filings about his assets. And both - like President Trump - have held onto income-producing stakes in a number of companies despite concerns about conflicts of interest from some ethics experts.

Richard Painter, who was an ethics czar in President George W. Bush's administration, tweeted late Friday that in light of the financial disclosures, the couple will have to "recuse [themselves] from matters affecting real estate and their lenders".

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After 71 days of President Trump draining the swamp, what we've found as we get closer to the bottom is money, lots and lots of money - in the financial disclosures of his White House advisers. The forms filled out by the likes of advisers Stephen Bannon, Kellyanne Conway, Jared Kushner and many more list their recent work histories, sources of income, employment agreements, spouse incomes and liabilities at the time of their appointments.

Omarosa Manigault, who rose to fame on Trump's reality show the Apprentice and now is a White House adviser, had a modest income under $100,000.

The White House is stacked with advisers who raked in millions of dollars previous year, including President Donald Trump's daughter, Ivanka, whose assets combined with her husband's could exceed $700 million.

Cohn reported assets of between $253 and $611 million, and income in 2016 of up to $77 million.

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Conway gave speeches or provided consulting services to dozens of political interest groups, mostly advocating conservative causes. The couple's combined business assets are valued at $741 million, according to Kushner's 54-page document filed on Friday.

President Trump and Vice President Mike Pence are not legally required to file new financial disclosures until next year. Bannon also disclosed that he earned slightly less than $200,000 past year as executive director of Breitbart News Network LLC, before he resigned to join Trump's campaign last August.

She has shares in the tobacco industry including Altria and Philip Morris but also in drug giant Pfizer and snack food companies Kraft Heinz and Mondelez. His largest payout came from Bannon Strategic Advisors, a consulting company valued between $5 and $25 million, which yielded Bannon $493,836 past year, the reports show.

Prior to the release, White House officials told reporters the documents would reveal the "incredible complexity and sophistication" of the assets and financial structures these "incredibly successful individuals" have. With this new role, Kushner's responsibilities in the White House now include reforming the Veterans Administration, foreign policy concerning Israel and Palestine, trade, remodeling workforce-training programs, and more.

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Kushner had to resign from 266 positions and had already divested from connections that represented a conflict or was in the process of doing so, an official said.

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