While working in the White House as senior advisors, President Trump’s daughter Ivanka and husband Jarred Kushner earned outside income of at least $82 million last year, according to new government financial filings disclosed on Monday.
Among their biggest source of income was $3.9 million earned by Ivanka from her share of the Trump International Hotel in Washington, D.C. and Kushner’s $5 million in income from Quail Ridge, an apartment complex in Plainsboro, New Jersey acquired last year by the Kushner Companies.
Kushner resigned from the boards of some 260 companies and gave up his executive management role at the family company but according to The Washington Post, he still retains about 90 percent of his stock in the Kushner Companies.
Ivanka has also changed the way she is paid for her stake in the Trump Organization, on the suggestion of the Office of Government Ethics.
Instead of getting a share of the profits based on the percentage of equity she owns, Ivanka is now getting a flat $1.5 million a year, so at least in theory, she is less likely to have a vested interest in promoting certain business projects.
The money she receives includes profits from a number of the Trump Organization’s international ventures.
Ivanka also got a $2 million severance from the Trump Organization in 2017.
She was also paid a $289,000 advance by Penguin Random House for her book, “Women Who Work.”
Forbes Magazine reported in January 2018 that the publisher lost at least $220,000 on the book, and noted Ivanka donated at least $200,000 of her advance to charity.
Kushner, who has had to make repeated corrections to his financial disclosures statements, this time reported he had failed in the past to report stakes in several limited-liability companies including Vegas Seven, an online news publication, and the Veggie Grill, a restaurant based in Manhattan Beach, California.
Kushner has sold both stakes but said he failed to report it before due to an accounting oversight.
Peter Mirijanian, a spokesperson for Kushner and Trump’s ethics counsel, told The Washington Post the couple has followed all ethics rules “as set out by the Office Of Government Ethics.”
“As to the current filing,” wrote Mirijanian in an email, “which OGE also reviews, their net worth remains largely the same, with changes reflecting more the way the form requires disclosure than any substantial difference in assets or liabilities.”
Kushner’s father Charles complained in an interview with Real Deal earlier this year that “the kids” have sacrificed a lot to go into government with their only intent to do good.
However, the fact they live with their children in a fashionable new home in Washington, D.C. and have a government supported staff to help them “do good”, and that they scrape by on $82 million makes it hard for most American’s to feel too sorry for “the kids.”