Despite his public claims that he’s under no obligation to untangle himself from potential conflicts of interest, Donald Trump is privately considering plans to close his charitable foundation and distribute the assets, the New York Times reports.
The Times report also indicates Trump is mulling over ways to distance himself from the Trump Organization, a sprawling $3.5 billion real estate brand with business dealings across the globe.
The news comes after the Trump transition team repeatedly rebuffed charges of potential conflicts of interest related to the president-elect’s business and charity. "The law's totally on my side,” Trump told the New York Times in November. “The president can't have a conflict of interest.”
Friday, son Eric Trump suspended all operations of his charitable foundation after reports revealed he was auctioning off coffee with Ivanka Trump—one of the president-elect’s top advisers. On Twitter, the president-elect lamented the closing of the Eric Trump Foundation, complaining his “wonderful son … will no longer be allowed to raise money for children with cancer” because of the perceived conflicts of interest. Trump called the move the “wrong answer.”
Trump’s sons, Eric and Donald Jr., are poised to take over Trump’s business after their father is inaugurated on January 20. The pair were forced to distance themselves from yet another auction Wednesday after a New York Times report revealed the Open Day Foundation offered hunting and fishing trips with the brothers for a cool $500,000 to $1,000,000.
