In their second year of government service, Ivanka Trump and Jared Kushner reported income from their companies and investments of as much as $135 million, according to their annual financial disclosure reports made public on Friday.
All told, the couple’s real estate holdings and other investments were worth as much as $786 million, down slightly from 2017. Their total annual income was between $29 million and $135 million, a range that was lower than what they reported in 2017.
Mr. Kushner’s partial ownership of his family-run real estate business, Kushner Companies, has drawn criticism from ethics experts, particularly as the firm has solicited investments from foreign sources, including in the Middle East, where Mr. Kushner is a top White House liaison.
Although Mr. Kushner held on to the bulk of his stake in the company, which he once ran, he sold some of his assets to a trust controlled by his mother.
One of those divested assets was his share in Kushner Companies’ flagship property at 666 Fifth Avenue in Manhattan. Last year, Kushner Companies struck a deal with Brookfield Asset Management for a roughly $1 billion bailout of the troubled property. Brookfield’s property arm is partly owned by the Qatari government.
Ms. Trump reported 2018 income totaling between $6.7 million and $10.7 million. She has resigned from her leadership roles at her fashion business and her family’s real estate and branding company since her father became president, but she retained stakes in some of those businesses.
Ms. Trump earned just under $4 million from the Trump International Hotel in Washington, which has become a magnet for visiting executives and foreign officials with interests before the federal government.
Ms. Trump reported another portion of an advance from Penguin Random House, for her book “Women Who Work,” this time totaling $263,500. She also reported donating it to the Ivanka M. Trump Charitable Fund. In 2017, she received about $289,000 from that advance.
The couple’s total income was between $29 million and $135 million in 2018, compared with a range of $82 million to $222 million in 2017.
The drop was due, in part, to their divestment of several assets that previously generated tens of millions of dollars in income for the couple, including the stake in 666 Fifth Avenue.
Last year, The New York Times reported that Mr. Kushner apparently had paid almost no federal income taxes for several years running.
Source: by Jesse Drucker and Agustin Armendariz | The New York Times