Counter to his professed campaign promise to drain the swamp, President Donald Trump has tapped his fair share of millionaires as White House staffers. This week, he added another one — his daughter. Ivanka Trump is reportedly worth more than $700 million when her assets are combined with that of her husband, Jared Kushner.
An ethics filing released by the White House on Friday revealed that Ivanka and Kushner will remain the beneficiaries of the the president's real estate business, which is worth as much as $740 million. The report comes in the wake of Trump's announcement this week that Ivanka would be taking an unpaid position with the administration. And with that kind of wealth, she can certainly afford to do some pro-bono work for her dad.
As The New York Times noted, Ivanka also has a stake in the Trump International Hotel in Washington, D.C. The report noted, "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." Kushner's disclosure estimates that her stake in the hotel is anywhere from $5 million to $25 million.
This latest reveal will likely only add to concerns that Trump critics have had over the president's and his family's potential conflicts of interest. Trump has refrained from sharing some critical financial information — and he can get away with it, because the president doesn't technically face conflict of interest laws. His cabinet isn't so lucky, though, and their financial details are being examined.
Kushner, who is a senior adviser to his father-in-law, was scrutinized for his web of assets when he announced that he would be joining the administration, but was ultimately cleared in January after he sold off 58 assets and resigned from over 260 entities that his lawyers believed would pose a conflict of interest. However, the Associated Press reported that lawyers for Kushner and the Office of the White House Counsel, working with the Office of Government Ethics, concluded that Kushner's concerns were "unlikely to pose the kinds of conflicts that would trigger a need to divest."
Ivanka, who has sniped at the media for calling her an adviser, is, uh, now an official adviser. Although she won't draw a salary, she is an official government employee, and she will continue to draw a salary from the Trump Organization while she is employed by the government. Her stake in the Trump International Hotel is of particular concern to critics — not to mention that the Trump Organization leases the property from the Government Accountability Office, and guess who appoints the leader? Her father.
The ethics filing was part of a larger release of 180 White House staffers' financials. Bloomberg tallied up the Trump team's worth to $12 billion, making it the richest in modern history — and Ivanka's net worth only adds to that.