Shocker: Financial Docs Reveal a White House Packed with the Super-Rich

Cheryl Sanders
April 2, 2017

Trump's senior advisor and son-in-law Jared Kushner's disclosure shows he and his wife Ivanka Trump have property and investment holdings worth as much as $741 million, according to the New York Times.

The White House disclosures included information on the assets of Gary Cohn - the former president of Goldman Sachs who heads the White House National Economic Council - and Steve Bannon, Donald Trump's chief strategist.

Kellyanne Conway was worth as much as US$40 million before being named counsellor to the president, derived mostly from investments and her salary at her consulting firm, the polling company/WomanTrend. "It speaks volumes to the desire for a lot of these people to fulfill the president's vision and move the agenda forward that they are willing to list all of their assets, undergo this public scrutiny". The Hotel is located just blocks from the White House and some are wary that it would serve as a meeting place for political favors.

As NPR notes, the release of the disclosures are in compliance with federal ethics laws that require executive branch appointees to disclose their financial assets and reach agreements to ensure there are no ethics violations or conflicts of interest.

A dogged television surrogate for President Trump during the 2016 presidential campaign, Epshteyn disclosed that his primary asset was a stake worth between $1 million and $5 million in TGP Securities Inc., a New Jersey investment banking firm where Epshteyn previously worked as a managing director.

On Friday night, the White House began publicly releasing financial disclosure forms for senior officials in the Trump administration.

The forms also showed the incomes of Trump's inner circle in the 12 months preceding their engagement as government workers.

White House Press Secretary Sean Spicer said Friday that a "lot of people" in Trump's administration are "very blessed".

All administration officials who have been commissioned with titles of assistants to the president, and civilian employees who earn a salary of more than $160,000, are required to complete the disclosures. Staff members who could face a potential conflict of interest have to enter into ethics agreements, mandating them to resign from positions and divest from assets that are questionable.

Ivanka will keep a stake in the Trump International Hotel in Washington, the New York Times said.

Bannon's consulting firm pulled in more than US$125,000 from Cambridge Analytica a year ago. Her ownership of the hotel is reportedly worth between $5 million and $25 million, though it is unclear how Ivanka will be paid for her stake in the business. The president has said he can't make his returns public because he's under audit from the IRS.

The documents, which USA media have uploaded online, list asset values within a range, revealed Ivanka Trump's own business empire is worth more than $50m. The 36-year-old has liabilities at Deutsche Bank worth roughly $25 million and shares liabilities of up to $5 million at the USA unit of Israel Discount Bank with his father, Charles.

During a recent appearance on CNN, Norman Eisen told Anderson Cooper, "My view, and it's a bipartisan view-Professor [Richard] Painter, the Bush ethics czar agrees with me-is that the nepotism statute does apply".

According to the White House, he is still in the process of divesting more than US$1 million in income for the Industrial and Commercial Bank of China. Forms show she received a wedding dress, veil and accessories worth $25,000 for an appearance on the reality show "Say Yes to the Dress".

Other reports by iNewsToday