Live Briefing: White House Releases Staff Financial Disclosures

by admin April 1, 2017 at 3:22 am

In addition to the many millions of dollars in cash and stock Mr. Cohn received from Goldman Sachs that made up the lion’s share of his personal assets, he held a slew of positions in publicly traded stocks — many of which he has already said he plans to sell — and in various private entities. Those entities include a stake valued at more than $1 million in a consumer education and consulting business called Payoff, a position in a cosmetics retailer also valued at more than $1 million, investments in several self-storage concerns in Ohio valued at $100,000 or more each, and an investment in a venture capital fund run by Andreessen Horowitz, the Silicon Valley powerhouse, valued at $100,000 or more.

— Kate Kelly


The White House advisers Stephen K. Bannon, center, and Stephen Miller, left.

Stephen Crowley/The New York Times

Bannon made between $1.3 and 2.3 million last year.

Mr. Bannon may be one of the best known figures in the Trump White House, but as the Trump administration goes, he’s probably not one of the wealthiest. But by the standards of many Americans, he appears to be doing quite well.

Mr. Bannon earned at least $1.3 million and perhaps as much as $2.3 million last year, according to the disclosure report.

He disclosed $191,000 in consulting fees he earned from Breitbart News Network, the conservative media organization; $125,333 from Cambridge Analytica, a data firm that worked for the Trump campaign; and $61,539 in salary from the Government Accountability Institute, a conservative nonprofit organization. All three organizations are backed by the major Republican donors Robert Mercer and his daughter, Rebekah.

Mr. Bannon’s most valuable asset was Bannon Strategic Advisors Inc., a privately held consulting firm from which income from his other investments appeared to flow into. It was valued at $5 million to $25 million.

He also listed the value of his Bannon Film Industries at $1 million to $5 million. His bank accounts were valued at as much as $2,250,000, while he listed rental real estate valued at as much as $10.5 million.

Mr. Bannon made clear in his disclosure report that he intended to sell some of his assets, including his stake in Cambridge Analytica, the political consulting firm that sells “psychographic” profiles that it asserts can predict the personality and hidden political leanings of every American adult.

Mr. Bannon served until last summer as vice president of Cambridge’s board.

— Eric Lipton, Steve Eder and Jonathan Weisman

Ivanka Trump and Jared Kushner still benefit from their real estate empires.

■ The president’s daughter and son-in-law will remain the beneficiaries of a sprawling real estate and investment business still worth as much as $741 million, despite their new government responsibilities.

■ Ms. Trump will maintain a stake in the Trump International Hotel in Washington, D.C.

■ Mr. Kushner’s financial disclosures said that Ms. Trump earned from $1 million to $5 million from January 2016 to March 2017, and puts the value of her stake at $5 million to $25 million.

Read more from Jesse Drucker, Eric Lipton and Maggie Haberman »


Kellyanne Conway at the Capitol last month.

Doug Mills/The New York Times

Kellyanne Conway made over $800,000 from her consulting firm.

Kellyanne Conway, one of President Trump’s top advisers, is wealthy, but modestly so when compared with some of her superrich colleagues.

Ms. Conway, a Republican strategist and pollster, made over $800,000 last year, her filing shows. As head of her own consulting firm, Ms. Conway’s clients included an assortment of conservative causes, including the National Rifle Association and the Tea Party Patriots, as well as Cambridge Analytica, the political data firm that advised Mr. Trump’s campaign. She was also paid for a speaking engagement at Point72 Asset Management, the investment firm run by the billionaire stock picker Steven A. Cohen.

— Ben Protess

Not bad for journalism.

Julia Hahn, until she went to work in the White House, was known as the 20-something reporter who filled with conservative screeds. But she is also quite rich for her age.

A PNC custodial account owned by Ms. Hahn is valued at $500,000 to $1 million. And various stock funds listed on her financial disclosure are worth as much as $1.5 million.

Her work as a journalist was also nothing to sneeze at. As a reporter, she made $117,217 last year at Breitbart. On top of that, she earned $74,082 from Laura Ingraham’s radio show.

— Jonathan Weisman

Several other nuggets from the disclosures…


Omarosa Manigault at the White House in February.

Pablo Martinez Monsivais/Associated Press

■ Omarosa Manigault, a White House aide who is a longtime associate of Mr. Trump and was once a contestant on “The Apprentice, received a wedding dress, veil and accessories valued at $25,000 in exchange for appearing on the TLC reality show “Say Yes to the Dress.”

■ Peter Navarro, Mr. Trump’s trade czar and resident China hawk, is not a wealthy man, but his salary as an economics professor at a public university wasn’t bad. According to his disclosure form, Mr. Navarro earned $240,000 in salary and bonuses from the University of California, Irvine. He also earned $10,500 for delivering a speech in November to the Casket & Funeral Supply Association of America.

■ Boris Epshteyn, who served during the presidential campaign as one of Mr. Trump’s chief attack dogs and television talking heads, stills owes over $50,000 on college loans he took out more than a decade ago, his filing indicates. Recently, Mr. Epshteyn left his White House post under circumstances that were unclear.

■ Jason Greenblatt, the Trump Organization lawyer tasked with helping to bring peace to the Middle East, earned $1,025,000 in compensation from Mr. Trump’s company last year.

‘Very blessed and very successful.’

At his daily briefing on Friday, the White House press secretary Sean Spicer tried to put the best spin on the vast wealth that would be on display Friday night:

I think one of the really interesting things that people are going to see today — and I think it’s something that should be celebrated — is that 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 by this country, and have given up a lot to come into government by setting aside a lot of assets. And I think it speaks volumes to the desire for a lot of these people to fulfill the president’s vision and move the agenda forward that they are willing to list all of their assets, undergo this public scrutiny, but also set aside a lot.

A Friday night document dump.

The White House disclosures fit an age-old pattern in Washington of dumping mountains of documents on Fridays, when normal people have left work and are beginning to enjoy their weekend. Not many are likely to be glued to their computers and television sets to track the wealth of White House officials.

After all, as Josh Lyman, the fictional White House deputy chief of staff on “The West Wing,” put it, “No one reads the paper on Saturday.”

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