Steve Witkoff, the real estate investor who serves as President Donald Trump’s special envoy to the Middle East and for peace missions, sold a $120M stake in his real estate firm, Witkoff, as he looks to resolve potential conflicts of interest.
Witkoff’s divestment was made public in a financial disclosure released Saturday, Bloomberg reports.
The company, whose portfolio includes upscale properties in Florida, New York and California, was one of six assets he valued at more than $50M, according to the disclosure.
Donald Trump and Steve Witkoff
The document doesn’t indicate whether ethics officials at the White House have approved the divestiture plan.
Witkoff disclosed assets worth at least $350M, though Forbes reported his net worth to be at least $1B in November. Witkoff’s other holdings worth more than $50M include residential real estate in Southampton, New York, a corporation whose name contains the address of the One High Line condominium and hotel project, and a cash account at a U.S. bank.
Witkoff followed through on his May pledge to divest from the real estate company. But he has yet to sell his crypto assets, including a stake in World Liberty Financial, a cryptocurrency firm co-founded by Donald Trump’s sons and his own sons, Zach and Alex Witkoff, Bloomberg also reported.
Alex Witkoff is in charge of operations at Witkoff.
In the disclosure, the special envoy didn’t reveal how much he earned from World Liberty Financial. He netted $34M in distributions from one of his holding companies that has assets including various real estate developments, golf and hotel management companies, and World Liberty Financial, according to Bloomberg.
Witkoff was sworn in as the president’s special envoy in early May, though he has unofficially been working for the administration since January. He reportedly had a major role in securing a brief ceasefire deal between Israel and Hamas in early January.
The real estate investor has been friends with Trump for four decades, starting in the 1980s when Witkoff, then a real estate attorney, paid for Trump’s ham-and-Swiss sandwich. Witkoff has donated nearly $2M to Trump’s campaigns and various funds and advised him on tax cuts.