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12 June 2018, 10:01 | Devin Moran
Minimum Size of Jared Kushner’s Wealth Rose in First Year in White House, Disclosure Shows
Senior adviser and daughter Ivanka Trump (L), and senior adviser and son-in-law Jared Kushner (R) attend a summit at the East Room of the White House May 18, 2018 in Washington, DC.
Kushner pulled in at least $70 million from his shares in his family's real-estate companies, including $5 million from Quail Ridge, a New Jersey apartment building that Kushner Cos. acquired past year.
The news sources didn't list all the sources of income for the power couple, but just cited a few examples from financial disclosure forms obtained by the newspaper.
Ivanka Trump earned $3.9 million from her stake in the Trump International Hotel in Washington, while Kushner reported over $5 million in income from Quail Ridge, a Kushner Cos. apartment complex acquired previous year in Plainsboro, New Jersey.
Peter Mirijanian, a spokesman for the couple's ethics lawyer, Abbe Lowell, said Ms Trump and Mr Kushner had abided by government ethics rules.
The bulk of Ivanka Trump's assets - more than $50 million worth - was contained in a trust that holds her business and corporations.
She also earned $5 million from her designer brand and $2 million in pay and severance from the Trump Payroll Corp, Politico reported. Trump will now receive guaranteed fixed yearly payments instead of payments determined by profits from T International Realty LLC, TTT Consulting LLC, and TTTT Venture LLC - which are LLCs tied to some of the Trump Organization's international developments.
The figure was outed in financial disclosure forms released Monday.
A series of interim financial reports a year ago showed that Kushner had increased lines of credit with Bank of America, New York Community Bank, and Signature Bank, each from at least $1 million to $5 million.
The couple's disclosures include a number of debts; because each line of credit is only described as a broad spread, their total unpaid debt ranges between $27 million and $135 million. The family business has made a splash with high-profile deals for buildings in New York City in the past decade, but lately has been returning to its roots by buying garden apartments in the suburbs.
The earnings have raised ethics concerns about conflicts of interest.
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