Love them or hate them Ivanka Trump and Jared Kushner, daughter and son-in-law of President Trump, are indeed known as the new D.C. power couple. They now both have offices in the West Wing and have great influence as advisors to the president. And late on Friday night, their financial assets were released giving a glimpse into just how wealthy they are.
Trump and Kushner reported income as much as $195 million from the beginning of 2016 to the present. The value of assets within Kushner’s report was listed between $241 million and $741 million. The value of property within Kushner’s family could be as high as $7.7 billion. The report also included information about Ivanka Trump’s assets. A business trust that now holds her branded apparel line has a value of more that $50 million.
Neither Jared or Ivanka will take a salary for the role they have in the government. And they both have previously filed documents with plans to divest their assets and transfer the administration of their trusts to other people. Jamie Gorelick, a lawyer who previously served as deputy attorney general under President Bill Clinton, helped craft the transition plan. “You can hold an asset if you recuse from particular matters,” Gorelick said. But many in the media, as well as ethics watchdogs, are not convinced that transferring ownership and administration to family member creates enough distance.
Although Jared Kushner and Ivanka Trump draw the most attention in the president’s administration, they are not the only members of the team with significant wealth. The financial reports also disclosed that Steve Bannon, Trump’s chief strategist at the White House, earned at least $1.4 million in the last year and had assets worth between $10.7 million and $48.6 million. And Gary Cohn, Trump’s National Economic Council Director and former president at Goldman Sachs, reported assets totaling at least $254 million and an income of $48.3 million from the beginning of 2016 to the present. Estimates of the total value of property for the whole Trump team could be as high as $14 billion. The White House has made it clear that its ethics lawyers have been working on highly complex financial arrangements.
What do you think about the fact that President Trump has gathered such significantly wealthy people around him in his administration? We would love to see your comments.