President-elect Donald Trump has said he had formally handed over “complete” control of his business empire to his two sons and they will not discuss its operations with him, in a move to avoid conflicts of interest once he assumes office.
“My two sons - Donald Jr. and Eric - are going to be running the company. They are going to be running it in a very professional manner. They’re not going to discuss with me its operations,” Trump, surrounded by his sons, daughter and son- in-law, said in his first formal press conference in six months.
“I have signed documents turning over complete and total control to my sons,” he said, before handing the stage to his lawyer Sheri Dillon.
Dillon said Trump’s assets will be transferred to a trust under the control of his sons before his inauguration and he will step down from his role as an executive at his company. His commercial real estate assets and licensing businesses will be placed into the trust, along with his cash holdings.