White House releases financial disclosures of top staff

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White House releases financial disclosures of top staff

U.S. President Donald Trump has the wealthiest administration in U.S. history.
Newly disclosed documents show that Trump’s senior staff and cabinet members have billions of dollars’ worth of assets.

CGTN’s White House Correspondent, Jessica Stone, reports.

White House releases financial disclosures of top staff

U.S. President Donald Trump has the wealthiest administration in U.S. history. Newly disclosed documents show that Trump’s senior staff and cabinet members have billions of dollars’ worth of assets.

Donald Trump won the White House with promises to cut taxes for working people and create 25 million jobs in 10 years. On his campaign trail back in October 2016, Trump pledged that America “will once more have a government of, by, and for the people.”

But Trump is now running the wealthiest White House in U.S. history. According to Bloomberg, his cabinet and close advisers are worth a total of an estimated $12 billion.

Trump’s daughter, Ivanka, and son-in-law, Jared Kushner, are both trusted presidential advisers. Neither is taking a salary, but in disclosures released Friday, they listed assets of $741 million. This includes a stake in the Trump International Hotel, which is down the street from the White House.

President Trump’s chief strategist is Steve Bannon, a former media mogul. According to the New York Times, Bannon disclosed assets between $13 million and $56 million.

Another main voice in the president’s ear is Kellyanne Conway, who is counselor to the President. The New York Times compiled her assets at between $11 and $44.2 million.

Then there’s Gary Cohn. He runs the president’s National Economic Council. His assets are valued at between $230 million and $611 million.  

White House spokesperson, Sean Spicer, says these figures should come as no surprise:

“The President has brought a lot of people into this administration, and this White House, in particular, who have been very blessed and very successful in this country.”

It’s worth pointing out that none of these people are making millions now. Some are taking no salaries at all, and many are in the process of selling their assets so they can better comply with ethics law.

But, there is still the potential for conflicts of interest with so many people invested in so many companies and countries, which deal with the U.S. government.