Gary Cohn received at least $40 million in income from Goldman Sachs-related dividends, interest, salary and bonuses, about half of which was in some form of stock compensation.
The revelations about Cohn were part of a massive White House release of financial disclosure forms for more than 100 of its top administration officials.
Cohn, the former No. 2 executive at Goldman, disclosed assets of $252 million to $611 million. He reported a $1.85 million salary from the firm last year, along with a $5.8 million cash bonus in 2015.
The former banking executive also reported more than $1 million in income from the Industrial and Commercial Bank of China — something the White House has said he is in the process of divesting.
Cohn is one of the wealthiest members of the Trump administration, aside from the billionaire business owner president himself. He left a top position at Goldman to become Trump’s chief economic advisor.
He also reported a wide range of stock holdings, some of which he aims to sell.
White House press secretary Sean Spicer described the business people who have joined the administration as “very blessed and very successful,” and said the disclosure forms will show that they have set aside “a lot” to go into public service.
Top officials in the Trump White House tend to be far wealthier, and therefore more entangled in businesses that could conflict with their government duties, than people in previous administrations.
The financial disclosures — required by law to be made public — give a snapshot of the employees’ finances as they entered the White House. What’s not being provided: the Office of Government Ethics agreements with those employees on what they must do to avoid potential conflicts of interest.
Those documents will never be made public, White House lawyers said, although the public will eventually have access to “certificates of divestiture” issued to employees who are seeking capital gains tax deferral.