Unpaid presidential advisers Ivanka Trump and husband Jared Kushner earned between $82 million and $135.1 million last year in outside income, newly released financial disclosures reveal.
The couple claimed combined assets worth between $181 million and $755 million. The disclosures used by the US Office of Government Ethics (OGE) list assets and obligations only in broad ranges.
Ivanka Trump made between $1 million and $5 million in 2018 on her now-shuttered fragrance, handbag, and shoe lines, down from $5 million the year before. She took in almost $4 million in “hotel-related revenue” from an entity listed as “Ivanka OPO LLC,” and described as “Investment in Trump Old Post Office LLC; Washington, DC.”
Donald Trump is involved in two lawsuits over his ownership of the property, actions that argue the president is violating the US Constitution’s emoluments clause by receiving payments from foreign governments that spend money at the hotel.
Ivanka Trump’s 63-page disclosure also shows a $263,500 advance for her 2017 book, Women Who Work: Rewriting the Rules for Success; a $100,000 guaranteed annual payment from Trump International Realty; and an additional $1.4 million from two other Trump-related real-estate entities. She is also an investor in a Brooklyn entity listed as “KC Dumbo Hotel, LLC,” which is reportedly being developed by hotelier Ian Schrager.
The filing’s endnotes indicate she is donating her book royalties to the Ivanka M. Trump Charitable Fund. The section also lists trademarks she holds in the US, Canada, United Arab Emirates, the EU, New Zealand, Saudi Arabia, Australia, Azerbaijan, Bahrain, Brazil, China, Indonesia, Israel, India, Japan, Kuwait, Panama, the Philippines, Puerto Rico, Qatar, Turkey, Russia, Nigeria, Hong Kong, Korea, and Taiwan.
Kushner, filed a 62-page disclosure that shows he is carrying between $27 million and $135 million in debt. Kushner said he earned at least $1.5 million from his family’s real-estate holdings. He also has a stake in Cadre, a Brooklyn-based real-estate investment firm founded by his brother Joshua and former Goldman Sachs executive Ryan Williams, worth as much as $50 million.
Cadre has received more than $90 million in foreign funding since Donald Trump became president, with the money passing through an offshore entity run by Goldman Sachs and registered in the Cayman Islands, the Guardian reported earlier this week. Sources told the news outlet that the identities of the foreign investors are not known, but that some of the funds came from Saudi Arabia.
The couple’s financial entanglements have raised eyebrows in the past. A personal trip they took in 2018 to the Dominican Republic, first reported by Quartz, brought up questions in light of the Trump family’s connections to ongoing development projects on the island.
Their latest disclosures have not yet been approved by the White House counsel’s office nor have they been reviewed by the OGE, according to Bloomberg. Last year, Ivanka Trump amended her financial disclosure eight times, six of them in a single month. Kushner was criticized for filing erroneous financial disclosures, amending his submissions nearly four dozen times.