Witkoff Sold $120 Million Stake in His Company, Disclosure Shows
(Bloomberg) — Steve Witkoff, the real estate investor who serves as Donald Trump’s special envoy for peace missions, sold an interest in his eponymous real estate management company for $120 million to resolve potential conflicts of interest, according to a financial disclosure released Saturday.
The document doesn’t show whether it’s been approved by ethics officials at the White House, and its release comes months after financial disclosures were made public for members of Trump’s team whose tenure started on Jan. 20, the day he was inaugurated. The disclosure says Witkoff’s official start date was June 30, even though he began working before Trump returned to office, helping to broker a ceasefire between Israel and Hamas. He submitted the disclosure in August.
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The Witkoff Group LLC, whose portfolio includes upscale properties in Los Angeles, Miami Beach, West Palm Beach and New York City, was one of six assets he valued at more than $50 million, the document shows. Officials disclose the values of their holdings in broad ranges with “over $50 million” the highest. Witkoff sold his interest “as part of divestiture planning,” according to the 33-page filing.
Witkoff disclosed assets worth at least $350 million, though his net worth is undoubtedly higher. Other holdings worth more than $50 million include residential real estate in Southampton, New York, a limited liability corporation whose name contains the address of the One High Line condominium and hotel project in Chelsea, and a cash account at a US bank.
In addition to his residential and commercial real estate interests, Witkoff had a stake in Elon Musk’s SpaceX, shares of Cisco Systems Inc., Reddit Inc. and Uber Technologies Inc., hedge fund holdings, aircraft, motorized boats and digital assets. Included in the latter category is his stake in World Liberty Financial Inc., the crypto venture he and his sons co-founded with the Trump family in September, before the presidential election.
Trump made $57.7 million from World Liberty Financial token sales according to his most recent financial disclosure, which covers 2024. Witkoff didn’t indicate how much he earned from the company. He received $34 million in distributions from one of his holding companies whose assets include various real estate developments, golf and hotel management companies and World Liberty Financial.