President Donald Trump’s daughter and adviser Ivanka Trump made $3.9 million in profit last year off her stake in the Trump International Hotel, while taking in at least $5 million from businesses connected to her personal brand, a newly released financial disclosure shows.
Ivanka Trump also reported taking in about $2 million in 2017 pay and severance from an entity called the Trump Payroll Corp., the disclosure said.
She received $289,000 in an advance for her book published last year, “Women Who Work,” and donated those funds to a charitable trust she oversees that “will make grants to organizations that empower and educate women and girls.” There was no indication that she received royalties in connection with the book in 2017.
The figures come from forms that high-ranking and highly paid federal employees are required to file every year in May.
Ivanka Trump and her husband, Jared Kushner, are serving as senior advisers to the president without pay, but they have agreed to abide by ethics requirements for senior White House staff.
On Monday, as President Trump was in Singapore for the high-profile summit with North Korea‘s leader, Kim Jong Un, the White House began releasing the forms covering last year.
Ivanka Trump’s reported income from the hotel in calendar year 2017 was up substantially from a report she filed last spring showing about $2.4 million in income from the hotel since it opened in September 2016.
The forms provide only limited insight into the finances of individuals as wealthy as Ivanka Trump and Kushner. Amounts are typically reported in broad ranges. Also complicating comparisons is the fact that last year’s filings for new government staffers covered a 16-month period.
Disclosure forms filed earlier this year appeared to show an uptick in the couple’s debts as they entered the White House last year. It’s unclear whether that trend continued through the end of the year.
The newly filed forms show that Kushner closed out a line of credit from Valley National Bank that had between $5 million and $25 million in outstanding debt in 2017. Another line of credit Kushner obtained with his father from IDB Bank rose in 2017 to the level of $5 million to $25 million from a range of $1 million to $5 million.
Kushner also reported a new loan from Bank of America taken out last year for between $5 million and $25 million. The debt, payable by 2022, is related to a real estate investment firm Kushner has a stake in called Quail Ridge.
Kushner’s disclosure form included nearly $1.375 million in dividends and another $125,000 in distributions from Westminster Management, his family business that owns and manages 20,000 garden apartments in New York, New Jersey, Maryland, Pennsylvania and Ohio. Last year, Kushner reported $1.5 million in direct income from the company.
