Kushner to ‘divest of many, many of his assets’ upon joinning The White House
Jan 11, 2017 04:30 PM EST
The attorney for the President-elect Donald Trump's son in law announced on Tuesday that Jared Kushner plans to step away from his businesses and divest of "many, many" of his assets, for his preparation to step on the formal role of senior adviser to Trump.
Kushner attorney Jamie Gorelick said on NBC's "Today" program said Kushner is "going to step away from his businesses" and "going to extricate himself entirely."
"Number two, he's going to divest of many, many of his assets. And number three, for assets that remain he will follow the normal recusal procedures," she said, reported The Washington Times.
Mr. Kushner, along with his family, has made a name for himself as a major player in the New York area real estate scene.
As he prepares to head into the White House, he will apparently relinquish his position of CEO of Kushner Companies together with the position of publisher of the New York Observer.
Politico reported on Monday that some of his assets will be sold to his brother Josh, while some others will be sold in part to a trust of which his mother is the trustee.
Gorelick further said that because Kushner is in a family business, consistent with all the federal rules, one can sell interest to another family member, and that Kushner is not going to be a beneficiary of the trust.
"The Office of Government Ethics has given us advice and we [have] followed it," said Gorelick, adding that they have discussed the matter with the said office and she is very comfortable that the arrangement is appropriate under the rules.
When commenting on the anti-nepotism issue, Gorelick said that the rules do not apply to "the immediate office of the president" and that regardless, Congress has passed a law saying the president can have "total discretion" over his staff.
Kushner, husband of Trump's daughter Ivanka Trump, was named as senior adviser on Monday. He was also a key adviser during Trump's presidential campaign.