Jared Kushner Steps Down From NY Observer, Real Estate Empire For White House Appointment

Jared Kushner, real estate mogul and son-in-law to President-Elect Donald Trump, is trading in his New York City business ventures for a senior adviser appointment at The White House. According to The New York Times, Kushner will divest some of his assets and step down as CEO of Kushner Companies. He will leave his post as publisher of The New York Observer. He will also step back from his stake in the famed 666 Fifth Ave building purchased for $1.8 billion in 2007. Kushner’s business partners and family members involved with the company will take over in his place while he works at Washington. His attorneys are involved in the process of setting up trusts and transferring business holdings that present a conflict of interest.

Kushner’s wife, First Daughter Ivanka Trump will also step down from her positions at her fashion label and the Trump Organization.