Tuesday, April 23, 2024

Ivanka and Jared suffered huge loss of earnings in their final year in the White House

Must read

[ad_1]

Donald Trump’s daughter Ivanka Trump and son-in-law Jared Kushner reported up to $ 120 million in income for 2020 in their final financial disclosure forms as White House advisers, a drop of more than 20% compared to what they reported a year ago.

The couple, who have both waived government salaries, said they have incomes of at least $ 23.8 million and up to $ 120 million in 2020 and the first 20 days of 2021. That compares to figure of $ 156 million for the same period a year earlier. Civil servants are only required to disclose the value of their assets and non-government income within wide ranges.

Overall, the revelations suggest that Trump and Kushner, while extremely wealthy, either lost ground or began to walk economically during their controversial stints in his father’s administration. In 2017, shortly after joining White House staff, they reported income of up to $ 195 million, but that initial disclosure covered a longer period than those that followed.

The couple’s assets have appreciated only modestly, if at all, over the past four years, in which the stock market has climbed more than 60%. In their most recent disclosure, they listed assets worth between $ 206 million and $ 803 million, up from a 2017 figure of between $ 241 million and $ 741 million. They listed assets worth between $ 203 million and $ 783 million last year.

The couple – descendants of family-owned real estate empires – own large stakes in businesses hit hard by the coronavirus pandemic. Kushner has reported up to $ 117 million in income, mostly from rents or royalties related to residential and commercial properties he owns. It also grossed $ 1.8 million from Westminster Management, the Kushner Corporation’s management firm for multi-family housing in New York, New Jersey, Maryland, Virginia and Tennessee.

Family ties

Kushner’s disclosure shows he still owns an estimated $ 25 million to $ 50 million stake in Cadre, the real estate tech company he co-founded. He originally said he would step down from Cadre to eliminate a potential conflict of interest, but he never did.

Trump’s form revealed his many ties to the family business, showing $ 1.5 million from his stake in the Trump International Hotel in Washington – up from about $ 4 million a year earlier – and $ 1.5 million additional dollars from several limited liability companies. Like her father, she also has a pension with the Screen Actors Guild due to her appearances in “The Apprentice”.

The form also lists Trump’s many trademarks and licensing deals for his fashion, home and other business items, but these fetch as little as $ 0 or as much as $ 200. She closed her eponymous fashion line in 2018 after retailers like Nordstrom Drop it.

The couple have listed works of art valued between $ 5 million and $ 25 million. Most of the couple’s debts come from Kushner, who holds lines of credit jointly with his father, Charles Kushner.

More political cover of Fortune:

-How? ‘Or’ What Fortune 500 companies use their resources and expertise during the pandemic
Joe Biden’s health care plan for the coronavirus and beyond
The work of coal miners is “essential” during the coronavirus crisis, but is it their safety?
-Why the Fed’s decision to buy Corporate America’s junk bonds is so important
-Listen Leadership Next, a Fortune podcast examining the changing role of the CEO
—SHOW: as unemployment is skyrocketing, the future of the job market looks bleak

Stay on top of your morning commute with Fortune’s CEO Daily newsletter.

[ad_2]

- Advertisement -spot_img

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -spot_img

Latest article