Jared Kushner and Ivanka Trump report $82M in outside income

Ivanka took in $3.9M from Washington D.C. hotel

New York /
Jun.June 12, 2018 09:12 AM

Ivanka Trump and Jared Kushner (Credit: Getty Images and iStock)

Jared Kushner and Ivanka Trump reported at least $82 million in outside income while working as unpaid advisors to President Trump.

This included $3.9 million that Ivanka made from her father’s investment in the Trump International Hotel in Washington, D.C. last year, Bloomberg reported. She also received $2 million in severance from the Trump Organization, according to financial disclosure reports released by the White House on Tuesday.

The New York Times reported that Ivanka and her husband remained investors in various entities that bought and sold as much as $147 million in real estate and other assets. Trusts benefiting Kushner, Trump or their children purchased real estate in New York and New Jersey between March and September 2017 totaling at least $9.8 million.

Kushner reported more than $5 million in capital gains from the sale of a shopping mall in the Bronx. He also reported between $27 million and $135 million in outstanding liabilities, according to Bloomberg.

The fact that Trump and Kushner retain ownership in their respective private real estate businesses has raised concerns over potential conflicts of interest. According to Tuesday’s disclosure, Kushner divested more than 125 assets and is in the process of doing so with several more. He also noted that he will continue to recuse himself from matters related to real estate, broker-dealer and online financial services connected to his holdings in Quadro Partners, which owns Cadre.com, the real estate investment platform he co-founded. The Wall Street Journal reported last year that he omitted his stake in the company from financial disclosure reports.

In an exclusive interview with The Real Deal in late May, family patriarch Charles Kushner criticized ethics watchdogs, who he said punish wealthy people for entering public service.

“I think they’re a waste of time,” he said. “They’re guys who can’t get a real job, ethics watchdogs? Who gets a job — ethics watchdog? Give me a break.”

He also said a larger divestment from company assets on behalf of Jared wouldn’t have eliminated scrutiny. “We have a lot of assets, a lot of net worth, and it’s inter-tangled with trusts, and kids and a lot of things. So no matter what we did, you know, no matter what we did, there would have been some kind of potential or perceived conflict. We did the best we could.”

[Bloomberg] — Kathryn Brenzel


Related Articles

arrow_forward_ios
With a cooling trade war, stocks perform well, including real estate. (Credit: iStock)

Real estate stocks push up this week as U.S.-China trade tensions ease

Real estate stocks push up this week as U.S.-China trade tensions ease
416 West 25th Street and Maverick Real Estate Partners principal David Aviram (Credit: Google Maps and LinkedIn)

Chelsea landlord claims “predatory” lender is charging a crippling interest rate as punishment after losing foreclosure case

Chelsea landlord claims “predatory” lender is charging a crippling interest rate as punishment after losing foreclosure case
One Madison Avenue and Marc Holliday (Photos via SL Green)

SL Green snags $1.25B construction loan for One Madison Avenue

SL Green snags $1.25B construction loan for One Madison Avenue
11 Penn Plaza and 120 Wall Street (VNO, Wikipedia Commons)

Manhattan’s top real estate loans post second best month since March

Manhattan’s top real estate loans post second best month since March
Square Mile Capital CEO Craig Solomon and The Real Deal's Hiten Samtani

WATCH: “It’s going to take longer, and it’s going to cost more”: Craig Solomon on the real estate capital stack

WATCH: “It’s going to take longer, and it’s going to cost more”: Craig Solomon on the real estate capital stack
OneTitle's Seth Brown (iStock)

OneTitle set out to change the title industry. Now it’s out of business

OneTitle set out to change the title industry. Now it’s out of business
The Scribner Building at at 597 Fifth Avenue and Joe Sitt of Thor Equities (Wikipedia Commons)

Thor delinquent on $105M loan at 597 Fifth

Thor delinquent on $105M loan at 597 Fifth
Pension fund investors are seeking to take cash out of real estate funds as property values fall, like at Water Tower Place in Chicago (Photo via iStock; Wikipedia Commons)

Core real estate funds delay investors from cashing out

Core real estate funds delay investors from cashing out
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...