Property tycoon, and now US President-elect Donald Trump, says he will leave his business interests “in total” because he does not want any accusations of conflicts of interest once he takes the keys to the White House in January.
The President-elect has already come under fire from constitutional lawyers and ethics counsellors for refusing to give up the ownership of his wide-ranging business empire.
However, he has now tweeted that he will be holding a major news conference on December 15 to give details of his plans. The President-elect says he and his children will be holding a conference in New York City to “discuss the fact that I will be leaving my great business in total in order to fully focus on running the country in order to MAKE AMERICA GREAT AGAIN!”
He said that while he did not have to give up his business interests under law, he believed it was “visually important” not to have any conflict of interest. Mr Trump revealed that he had instructed legal documents to be drawn up to remove him from the operation of his business.
Mr Trump added: “The presidency is a far more important task.” Given that his children are already heavily involved in the business and they will be in attendance at the press conference, it is likely that the day-to-day running of his empire is being handed over to his offspring.
Currently, the Trump operation is involved in real estate, hotels, golf courses, casinos, model management, fragrance, private jets and bottled water. In a personal financial disclosure report made during his election campaign, he listed himself as a trustee, president, chairman, or member for more than 530 entities. Almost 50 per cent of these firms have the Trump name as part of the business moniker. However, several companies, including Trump’s university have been hit by controversy.