The Trump Administration Is Full Of Wealth

The concentration of wealth among senior advisers serving in President Donald Trump’s administration is impressive, the White House released financial disclosure reports on Friday for around 180 of its top paid staff.

Four of Trump’s top advisers, Chief Strategist Steve Bannon, Chief of Staff Reince Priebus, National Economic Council Director Gary Cohn and senior adviser Jared Kushner, hold assets collectively worth between $757 million and $1.9 billion, according to a Wall Street Journal analysis of their financial disclosures. Aides disclose their income and assets largely in ranges, rather than specific dollar figures.

The wealth of those surrounding the president, who is also a billionaire, poses a contrast with the populist tone of Trump’s campaign, which made an explicit appeal to working-class Americans. As a candidate, Trump often rallied against Goldman Sachs (GS). Now, at least four of his top advisers once worked at the financial firm.

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Kushner, the president’s son-in-law and a top aide, held at least $240 million and as much as $700 million in assets together with his wife, Ivanka Trump. Ms. Trump’s business alone is valued at more than $50 million in the disclosure. Kushner resigned from more than 260 entities and sold his stake in more than 60 businesses or investments to avoid conflicts of interests.

Ms. Trump, the elder daughter of the president who this week took a top role in the administration, also maintains partial ownership of the Trump International Hotel in Washington, D.C., which operates out of a historic post office owned by the U.S. government. Her stake in the hotel was valued at between $5 million and $25 million, and both her rent and royalties worth between $1 million and $5 million over the last year.

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Kushner also took on between $20 million and $95 million in bank loans in 2015 and 2016, the largest loans coming from Deutsche Bank and Valley National Bancorp in New Jersey at between $5 million and $25 million each, the disclosure shows.

An expanded version of this article appears on WSJ.com.

 

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