First daughter and White House adviser Ivanka Trump collected a cool $4 million in income from her father’s controversial hotel in Washington, D.C., last year, according to her latest financial disclosure filing. The hotel is at the heart of two major lawsuits claiming it serves as a funnel for money to the Trump family from foreign countries seeking White House favors.
President Donald Trump earned $40.8 million last year from the hotel, where representatives of 22 nations spent money, NBC reported earlier this week. The attorneys general of Maryland and the District of Columbia are arguing in court that Trump’s continued ownership of the hotel violates the Constitution’s emoluments clause, which bans foreign government payments to the president. House and Senate Democrats are also suing.
Ivanka Trump and husband Jared Kushner earned a minimum of $29 million to as much as $135 million in outside income while working as senior White House advisers, according to the latest filings. In 2017 the couple’s reported minimum income was $82 million. The federal disclosure forms include very broad income categories, which accounts for the wide reporting range.
The couple’s real estate holdings and other investments were worth as much as $786 million. They also reported at least $22 million in bank loans for their various businesses.
Ivanka Trump reported at least $1 million from her apparel and jewelry products, down from at least $5 million the previous year. She announced last summer that she was closing her businesses amid controversies over potential conflicts of interest. She also collected $1.5 million from three entities linked to the Trump Organization in a deal to switch consulting income and other pay into annuities while she works in the White House, Forbes reported.
Kushner’s continued holdings in his family real estate firm, Kushner Companies, was the source of much of his income, according to records. Kushner also reported that his stake in his real estate company Cadre was worth at least $25 million.
The Guardian reported Monday that $90 million in secret foreign investments have poured into an offshore account for Cadre since Kushner began his job at the White House. At least $1 million of that came from Saudi Arabia, sources told The Guardian. The money for Cadre is deposited via a Goldman Sachs financial vehicle in the Cayman Islands, a tax haven that guards corporate secrets.
According to Kushner’s filing, he picked up another business last year with his purchase of PV Bungalow, a boutique hotel in New Jersey valued at between $1 million and $5 million. He also bought a liquor license for the hotel, which cost at least $15,000, Bloomberg reported. He also spent between $1.5 million and $3 million on 132 residential real estate transactions in Brooklyn, New York, according to the filings.
Breaking tradition, Trump family members have retained their interests in businesses while also representing the White House, raising concerns that their powerful influence can be bought through their commercial holdings.
The reports have yet to be approved by the White House counsel’s office and will also be reviewed by the Office of Government Ethics.