- Steve Witkoff, President Donald Trump’s special envoy to the Middle East, sold a $120M stake in his real estate firm, Witkoff, per a financial disclosure filing.
- Witkoff pledged in May to divest from his company but still holds crypto investments tied to Trump’s sons through World Liberty Financial.
- The firm’s portfolio spans luxury properties across Florida, New York, and California, with Witkoff disclosing total assets of at least $350M.
Divesting from His Namesake Firm
Bisnow reports that Steve Witkoff, a longtime Trump ally and head of the real estate firm that bears his name, has sold a $120M stake in the company. The move, revealed in a financial disclosure released Saturday, comes as he works to reduce conflicts of interest stemming from his role as President Trump’s special envoy to the Middle East.
The firm is among six of Witkoff’s assets valued above $50M, with holdings in New York, Florida, and California. The disclosure did not specify whether White House ethics officials have approved the sale plan.
A Closer Look at Witkoff’s Holdings
Witkoff reported assets worth at least $350M, though Forbes pegged his net worth at more than $1B last year. Other significant holdings include:
- A Southampton, NY residential property worth over $50M
- A corporation tied to the One High Line condo and hotel project in Manhattan
- A cash account exceeding $50M at a US bank
Despite his pledge, Witkoff has yet to divest from cryptocurrency ventures, including World Liberty Financial, a firm co-founded by Trump’s sons and his own children, Zach and Alex Witkoff. Bloomberg reports that Witkoff earned $34M in distributions from a holding company with investments in real estate, hotels, golf management, and crypto.
A Trusted Trump Ally
Witkoff officially assumed the envoy role in May after informally advising the administration since January. He is credited with helping secure a brief ceasefire between Israel and Hamas earlier this year.
His relationship with Trump dates back to the 1980s, when Witkoff, then a real estate lawyer, famously bought Trump a ham-and-Swiss sandwich. Over four decades, he has become both a friend and donor, contributing nearly $2M to Trump’s campaigns and advising on tax policy.
Why It Matters
Witkoff’s divestiture highlights the complex intersection of real estate wealth, political appointments, and family-linked investments. While he has stepped away from his firm, his crypto holdings could continue to raise ethics questions as his diplomatic work progresses.
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