Ivanka Trump got paid $1.4 million by the luxury Washington, D.C. hotel owned by her father’s company during President Trump’s final year in office, new financial disclosures reveal.
The cash haul came despite the coronavirus pandemic that ravaged the nation and the world, and set back the hospitality and tourism industry as bookings took a dive.
Her haul was actually a considerable decline from a year ago, when she earned $4 million from her stake in the hotel, which President Trump touted during his 2016 campaign and held onto throughout his presidency despite complaints from watchdog groups and lawsuits claiming his ownership subjected him to unconstitutional emoluments.
The Supreme Court dismissed lawsuits dealing with the hotel last week as no longer moot with Trump out of office.
Less clear from her filing is what happened to Ivanka’s stake in the hotel project she helped oversee before becoming an unpaid advisor to the president with a West Wing office.
Early disclosures put the value at between $5 million and $25 million, but the latest shows it only as $100,000 to $250,000, with no accompanying disclosure of a sale.
The hotel, leased from the government in the historic Old Post Office building that the Trump Organization renovated, sits in a prime location between the White House and the Capitol, along the Pennsylvania Ave. out taken by some of the rioters on Jan. 6. It is across from FBI headquarters.
The hotel had been a hive of activity during much of the Trump Administration, with lawyer Rudy Giuliani holding court and a steady flow of Trump cabinet secretaries and influencers. But a recent visit found scant guests at the lobby bar and restaurant, with Trump’s departure and COVID restrictions taking a toll.
The Trump Organization had been hoping to sell its long-term lease with the federal government for the hotel, but a real estate brokerage that had been promoting it pulled out this month.
But the president’s daughter has plenty to keep her busy, even without rumors she might seek elective office in her new home of Florida.
Disclosures obtained by Citizens for Responsible Ethics in Washington reveal a variety of projects with ‘future interests’ where she otherwise lists no income. They include a license deal in India, a golf course in Bali, a future golf course in Dubai, and hotel construction in New York.
She also lists substantial property holdings by husband Jared Kushner, and the couple’s art collection, still valued at between $5 million and $25 million.
The couple’s total income in their final report is between $24 million and $121 million – even during a pandemic year that battered the U.S. economy and their industry in particular.
(Kushner also advised Trump from his unpaid White House role).
The report covers all of 2020 until the day Trump led office.
They disclosed engaging in several transactions over the course of the year, including bond sales of up to $1 million, stock sales of up to $2 million, and real estate sales linked to Kushner’s firm including a New Jersey project valued at $5 million to t $25 million.