Houston Chronicle

Kushner, Ivanka Trump made at least $82 million last year

- By Amy Brittain, Ashley Parker and Anu Narayanswa­my

Ivanka Trump and Jared Kushner, the president’s daughter and son-in-law, brought in at least $82 million in outside income while serving as senior White House advisers during 2017, according to new financial disclosure forms released Monday.

Ivanka Trump earned $3.9 million from her stake in the Trump Internatio­nal Hotel in Washington, while Kushner reported over $5 million in income from Quail Ridge, a Kushner Cos. apartment complex acquired last year in Plainsboro, New Jersey.

The filings show how the couple are collecting immense sums from other enterprise­s while serving in the White House, an extraordin­ary income flow that ethics experts have warned could create potential conflicts of interests.

Hard to track changes

While both Kushner and Ivanka Trump were required to file financial forms last year, it is difficult to compare their past to present wealth because there are several months of overlap in the reporting period and the Office of Government Ethics uses broad ranges to calculate assets and liabilitie­s.

In an email statement, Peter Mirijanian — a spokesman for Abbe Lowell, Kushner’s and Ivanka Trump’s ethics counsel — said the couple have followed all ethics rules and that Monday’s disclosure­s are an insufficie­nt way to understand the nuances of 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. “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.”

The new filings reflect a change in the structure of Ivanka Trump’s payments from limited liability companies affiliated with the Trump Organizati­on. Trump will now receive guaranteed fixed yearly payments instead of payments determined by profits from T Internatio­nal Realty LLC, TTT Consulting LLC, and TTTT Venture LLC — which are LLCs tied to some of the Trump Organizati­on’s internatio­nal developmen­ts. The yearly payments will total $1.5 million, according to the filings, which was a change made in consultati­on with Office of Government Ethics officials to reduce her “interest in the performanc­e of the business.”

Ivanka Trump also reported over $2 million from severance from the Trump Corp. in 2017. Her father was inaugurate­d on Jan. 20, 2017, and Ivanka Trump officially joined the White House as an unpaid senior adviser in March 2017, after her initial attempts to serve as an informal adviser raised ethics questions. Trump was paid a $289,300 advance by Penguin Random House for her book, “Women Who Work.”

Divesting in progress

Kushner disclosed that he had failed to report several stakes in limited liability companies - including Vegas Seven, which is a Las Vegas online news publicatio­n, and the Veggie Grill, a restaurant in Manhattan Beach, California. The filing noted that Kushner divested his stakes before joining the White House but did not report the assets previously because of an accounting oversight.

While Kushner has resigned from 260 corporate positions and no longer has any role in running his family’s real estate company, he has repeatedly been subject to public scrutiny over the perception that he has not done enough to draw lines between his private business interests and his sprawling portfolio of West Wing responsibi­lities.

Kushner Cos. has reported more than $2 billion in transactio­ns in the past two years, including developmen­ts in Times Square and Jersey City. A Washington Post analysis of his holdings last year showed that Kushner had retained roughly 90 percent of his real estate holdings.

 ?? Alex Wong / Getty Images ?? Ivanka Trump and Jared Kushner have made millions in outside income while at the White House.
Alex Wong / Getty Images Ivanka Trump and Jared Kushner have made millions in outside income while at the White House.

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