Donald Trump reportedly plans to keep a stake in his business
President-elect Donald Trump is reportedly exploring how to turn his business over to his adult sons, Eric and Donald Jr., but plans to keep a stake in the real estate empire and will not heed calls to divest, The New York Times reports. People who were briefed on the discussions said that Ivanka Trump would also leave the Trump Organization, likely to assume a role in Washington, and that Ivanka and her father are exploring a "legal structure" to separate them from the company.
Critics have pointed out that any way in which Trump might have a continued financial interest in his organization could result in conflicts and questions. The Office of Government Ethics has reportedly informed Trump's lawyers that ethical concerns can only be avoided with a divestiture.
Trump has defended himself to reporters, stating that "the law's totally on my side." Still, he will have to navigate laws that prohibit government officials from accepting gifts or payments from foreign governments, with even foreign diplomats staying at his properties being a cause for scrutiny.
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"There are ways to make it work legally, but the appearances are going to be terrible and it's going to be a four-year ethical challenge," said former chief White House ethics lawyer Richard W. Painter.
