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President-elect Donald Trump tweeted Wednesday morning that he will be leaving his business "in total in order to fully focus on running the country."
Conflict of interest controversy had been brewing in recent weeks over the billionaire real estate icon holding on to his considerable financial interests as president. Trump previously said he'd give business control to his children upon winning the White House, but critics have said that's not enough.
I will be holding a major news conference in New York City with my children on December 15 to discuss the fact that I will be leaving my ...— Donald J. Trump (@Donald J. Trump) 1480505985.0
great business in total in order to fully focus on running the country in order to MAKE AMERICA GREAT AGAIN! While I am not mandated to ....— Donald J. Trump (@Donald J. Trump) 1480506292.0
do this under the law, I feel it is visually important, as President, to in no way have a conflict of interest with my various businesses..— Donald J. Trump (@Donald J. Trump) 1480506880.0
Hence, legal documents are being crafted which take me completely out of business operations. The Presidency is a far more important task!— Donald J. Trump (@Donald J. Trump) 1480507178.0
It's been argued that, while Trump has no legal obligation to leave behind his business interests, there's trouble ahead if he doesn't — given that the Manhattan mogul is tied financially to operations the world over, and those who hold sway on foreign soil could exploit Trump's financial entanglements.
