Finance

Ivanka Trump made $3.9 million from DC hotel in 2017

President Donald Trumps daughter and adviser Ivanka Trump made $3.9 million in profit last year off her stake in the Trump International Hotel, while taking in at least $5 million from businesses connected to her personal brand, a newly released financial disclosure shows.

Ivanka Trump also reported taking in about $2 million in 2017 pay and severance from an entity called the Trump Payroll Corp., the disclosure said.

She received $289,000 in an advance for her book published last year, “Women Who Work,” and donated those funds to a charitable trust she oversees that “will make grants to organizations that empower and educate women and girls.” There was no indication that she received royalties in connection with the book in 2017.

The figures come from forms that high-ranking and highly paid federal employees are required to file every year in May.

Ivanka Trumps reported income from the hotel in calendar year 2017 was up substantially from a report she filed last spring.

Ivanka Trump and her husband, Jared Kushner, are serving as senior advisers to the president without pay, but they have agreed to abide by ethics requirements for senior White House staff.

On Monday, as President Trump was in Singapore for the high-profile summit with North Koreas leader, Kim Jong Un, the White House began releasing the forms covering last year.

Ivanka Trumps reported income from the hotel in calendar year 2017 was up substantially from a report she filed last spring showing about $2.4 million in income from the hotel since it opened in September 2016.

The forms provide only limited insight into the finances of individuals as wealthy as Ivanka Trump and Kushner. Amounts are typically reported in broad ranges. Also complicating comparisons is the fact that last years filings for new government staffers covered a 16-month period.

Disclosure forms filed earlier this year appeared to show an uptick in the couples debts as they entered the White House last year. Its unclear whether that trend continued through the end of the year.

Ivanka Trump, right, walks beside her husband Jared Kushner on the South Lawn of the White House | Saul Loeb/AFP via Getty Images

The newly filed forms show that Kushner closed out a line of credit from Valley National Bank that had between $5 million and $25 million in outstanding debt in 2017. Another line of credit Kushner obtained with his father from IDB Bank rose in 2017 to the level of $5 million to $25 million from a range of $1 million to $5 million.

Kushner also reported a new loan from Bank of America taken out last year for between $5 million and $25 million. The debt, payable by 2022, is related to a real estate investment firm Kushner has a stake in called Quail Ridge.

Kushners disclosure form included nearly $1.375 million in dividends and another $125,000 in distributions from Westminster Management, his family business that owns and manages 20,000 garden apartments in New York, New Jersey, Maryland, Pennsylvania and Ohio. Last year, Kushner reported $1.5 million in direct income from the company.

The presidents son-in-laws filing no longer lists under assets or income his role with Observer Media, the New York-based online news organization he founded in 2007. Kushner reported earning $4.5 million from advertising revenue at the company in 2017 but stepped down last January when he joined the Trump White House.

Kushners form says he does still own between $5,000,001 and $25,000,000 in stock shares for Source Media Holdings.

In this years form, Kushner said he divested his ownership in Observer Media, though he also reported making between $100,001 and $1 million in capital gains. Kushners form says he does still own between $5,000,001 and $25,000,000 in stock shares for Source Media Holdings, a digital media company owned by Observer Capital that serves business professionals working in the financial, technology and health care sectors.

President Trumps new national security adviser, John Bolton, reported taking in $569,423 in salary from Fox News from the beginning of last year until he joined the White House in April.

National Security Adviser John Bolton speaks on a morning television show | Mark Wilson/Getty Images

Bolton also earned nearly $750,000 in speaking fees during the same period — $115,000 for speaking to conferences sponsored by the Ukrainian steel mogul Victor Pinchuk.

Pinchuks donations of more than $13 million to the Clinton Foundation drew criticism and, during the 2016 campaign, were painted by many Clinton critics as evidence of corruption.

In September 2015, then-candidate Trump spoke to a Pinchuk conference in Kiev in exchange for a $150,000 donation to the Donald J. Trump foundation.

Boltons highest reported fee for a single speech, $100,000, came in May 2017 while receiving a Guardian of Zion award from the Rennert Center in Jerusalem. The next highest was a speech earlier that month to Deutsche Bank for $72,000, after a commission paid to his agent, the Washington Speakers Bureau.

Aubree Eliza Weaver and Candice Norwood contributed to this report.

Original Article

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