Published: Tue, June 12, 2018
Global News | By Stacy Ballard

Ivanka Trump and Jared Kushner commercial income revealed

Ivanka Trump and Jared Kushner commercial income revealed

Kushner declared income from dozens of companies linked to his family's real estate company.

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 a year ago.

The figures came in ethics disclosures released by the White House late on Monday, as Mr Trump was away on his widely reported trip to meet North Korean leader Kim Jong-un.

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Despite public scrutiny of their finances amid questions of conflicts of interest, a spokesman for the couple's lawyer said Trump and Kushner have followed the rules. 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 financial disclosure forms showed that trusts benefiting Kushner, Trump or their children made eight purchases of at least $9.8 million in real estate, including properties in New Jersey and New York City.

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In addition to her family-related businesses, Trump earned $289,300 as an advance from Penguin Random House for her book, "Women Who Work".

Kushner reported at least $US27 million and as much as $US135 million in outstanding liabilities.

But both also maintained significant stakes in companies - Mr Kushner in real estate and Ms Trump in her branded clothing and accessories line. The latest disclosure shows it was worth at least $25 million at the end of past year, up from a minimum value of $5 million in his previous disclosure. "As to the current filing 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".

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The new disclosure shows that Kushner did take on a new debt a year ago with Bank of America, worth between $5 million and $25 million - but jointly with other investors in Quail Ridge LLC, a company used for his family firm's purchase of Quail Ridge, a 1,032-unit apartment community in Plainsboro, NJ, near Princeton.

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