Los Angeles partner JR Lanis appeared on KNX 1070 News Radio to discuss the potential outcomes and issues surrounding President-Elect Donald Trump’s transition away from his business empire. JR told KNX that Trump’s net worth is estimated to be greater than all 44 preceding presidents combined, and he may be boxed into a “no-win” situation.
KNX asked JR, “How do you create a truly blind trust when it’s this large?” JR responded by laying out three tasks:
- Task one: Understand what’s there. Because the Trump organization is private, very few people know what he actually owns.
- Task two: To the extent any of those assets are liquid, liquidate them and make different “blind” investments.
- Task three: To the extent Trump assets are illiquid, shield them, where possible, from his influence and put them under someone else’s control.