Ivanka Trump and Jared Kushner detail vast wealth: Real estate, fashion and investments
Posted June 11, 2018 1:29 p.m. EDT
NEW YORK (CNNMoney) — Jared Kushner and Ivanka Trump, both senior advisers to President Donald Trump, disclosed new details of their vast wealth on Monday, reporting a long of list of real estate, fashion and investment assets.
Kushner, the president's son-in-law, reported assets of at least $174 million at the end of 2017, according to a person familiar with the couple's financial disclosure documents. His holdings could reach more than $710 million. CNNMoney's own calculations confirm those numbers.
At the end of 2017, the president's daughter held assets of at least $55 million that could reach more than $75 million, the source familiar with the documents said.
The topline numbers of their wealth don't vary greatly from similar documents the couple made public last July.
"[T]heir net worth remains largely the same, with changes reflecting more the way the form requires disclosure than any substantial difference in assets or liabilities," said Peter Mirijanian, a spokesperson for Abbe Lowell, the ethics counsel for Kushner and Ivanka Trump.
It's important to note several caveats in the disclosure documents.
For one, some assets appear on both Kushner and Ivanka Trump's filings. It's also impossible to calculate precise totals of income and assets because the documents ask officeholders to disclose figures in ranges, such as "$100,000 to $1,000,000." Some disclosures are open ended, like "over $50,000,000."
The Trump family's far-reaching business interests, and the potential for conflicts of interest they present, have been a point of controversy since President Trump took office. The president turned over the operation of his business, the Trump Organization, to his two eldest sons.
Since the election, Kushner and Ivanka Trump have also stepped away from the management of their businesses, though they have retained numerous ownership stakes. While they aren't legally required to sell all their assets to work in the White House, rules prohibit federal employees from participating in matters in which they have a financial interest.
"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.
The new documents reveal that in 2017, Ivanka Trump earned $3.9 million from her stake in the Trump International Hotel in Washington, DC. The asset is valued at between $5 million and $25 million.
She also made at least $5 million from a trust, created in March 2017, called Ivanka M. Trump Business Trust. The trust is valued at more than $50 million.
Trump said on her forms that she had trademarks related to her name and initials registered around the world, including in Mexico, the United Arab Emirates, Saudi Arabia, Brazil, China, Russia, Qatar and the Philippines.
Trump recently scored a batch of trademarks in China as her father continues trade talks with Beijing, garnering scrutiny from some ethics experts. The president of the Ivanka Trump brand has said the fashion line regularly files for trademarks, especially in areas where trademark infringement is common.
Kushner, meanwhile, reported $1.5 million in income from Westminster Management, which owns and manages over 20,000 apartments in New York, New Jersey, Maryland, Pennsylvania and Ohio.
The documents also list the couple's 2017 liabilities - a dozen loans and credit lines in amounts ranging from $1 million to $5 million or $5 million to $25 million.
The filings are currently under review by the Office of Government Ethics and need to be certified by the agency.
-- CNN's Cristina Alesci, Karen McGowan and Jeanne Sahadi contributed to this report.