Well that's a relief. Donald Trump has announced he's not going to try to run a multi-billion dollar corporation at the same time as leading the free world. Phew.
In a series of tweets, the President-elect said he will hold a news conference with his children on 15 December to announce that he will leave his "great business in order to fully focus on running the country in order to MAKE AMERICA GREAT AGAIN!".
He added that although he is not mandated to do so under the law, he wanted to avoid conflicts of interest with his business.
He also said legal documents were being "crafted" which will take him completely out of business operations.
"The Presidency is a far more important task!" he added. Valid point.
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 (@realDonaldTrump) November 30, 2016
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 (@realDonaldTrump) November 30, 2016
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 (@realDonaldTrump) November 30, 2016
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 (@realDonaldTrump) November 30, 2016
Trump runs The Trump Organisation, but according to research by CNN, his most recent disclosures show he has interests in 144 individual companies with dealings in at least 25 countries.
It includes 16 businesses in India, 16 in Indonesia, 14 in Canada and 12 in the United Arab Emirates.
In the UK, he has 10 businesses, while he has four in Ireland.