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Jared Kushner steps down as CEO of Kushner Companies

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Donald Trump’s son-in-law will assume a role as Senior White House Adviser

Jared Kushner will relinquish his role as CEO of Kushner Companies as he transitions into a more political role (h/t The Real Deal). Ever since Donald Trump, who is Kushner’s father-in-law, became the President-elect, Kushner has served as one of the most important advisers on the transition team. The New York Times confirmed that Kushner will be taking on a role as Senior White House Advisor.

Kushner’s New York real estate portfolio is quite extensive, with assets in 666 Fifth Avenue (where he and his family have their offices), the Jehovah’s Witnesses Watchtower building in Dumbo, various buildings in the East Village, and more. Some of these assets (though it’s unclear which specific ones) will be sold as Kushner makes an attempt to comply with federal ethics laws.

Much like the business affairs of the President-elect, Kushner’s ventures have come under scrutiny as his role in politics deepens. In a profile published by the New York Times, the business relationship between Kushner and Chinese insurer Wu Xiaohui is dissected along with other dealings that could be viewed as serious conflicts of interests.

A New York magazine cover story also looks at the Trump consigliere’s real estate dealings, including the reactions of those within the industry who’ve observed Kushner’s “unimaginable rise to power.”

Nevertheless, a spokesperson for the law firm that represents Kushner told the Times that he’s “committed to complying with federal ethics laws, and we have been consulting with the Office of Government Ethics regarding the steps he would take.” (Though the Trump team’s dealings with the OGE are a whole other issue.…)