On November 30, in one of his early morning tweets, Donald Trump, seeking to alleviate concerns of conflict of interest within his huge business empire, announced that he will be "holding a major news conference in New York City with my children on December 15 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!"
I will be holding a major news conference in New York City with my children on December 15 to discuss the fact that I will be leaving my ...
— Donald J. Trump (@realDonaldTrump) November 30, 2016
great business in total in order to fully focus on running the country in order to MAKE AMERICA GREAT AGAIN! While I am not mandated to ....
— Donald J. Trump (@realDonaldTrump) November 30, 2016
It now appears this particular "major news conference" will be postponed by one month as the President-elect "wants more time because he’s been occupied with filling out his cabinet and top administration posts" Bloomberg reports citing officials. He’s preparing to reveal his choice for secretary of state as soon as Tuesday, they said.
The president-elect has consulted various legal specialists as well as Don McGahn, his pick for White House counsel, about how to deal with his organization, the officials said. A new date for the announcement hasn’t been set, but it will be before his inauguration on Jan. 20.
According to a Bloomberg analysis, Trump has about $3.6 billion of assets and $630 million of debt held in more than 500 companies. His golf developments, tenant rosters, loans and licensing arrangements tie him to businesses and governments in 20 countries. Those ties risk hobbling his presidency with questions about motives for his policy and may raise constitutional issues.
Trump's previous tweets on the matter suggested he might not be participating in day-to-day to decisions but that he wasn't necessarily planning a sale. Among those who’ve called on him to sell his companies to avoid conflicts are the ethics lawyers for the George W. Bush and Barack Obama administrations. Trump’s refusal to release his tax return has also fueled concerns about his commitment to transparency. His next personal financial disclosure, a less detailed document, isn’t due until after he takes office.
Providing some financial disclosure, Trump’s transition team said last week that the president-elect had had sold all his stock holdings in June, though it gave no details. Trump said the stock ownership was “a conflict of interest.”
According to a recent Bloomberg National Poll, conducted in early December, two-thirds of U.S. adults think Trump needs to choose between being president or a businessman. But slightly more, 69%, believe it goes too far to force him and his family to sell their business empire to avoid conflicts of interest.