Donald Trump intends to close his charitable foundation to reduce the number of potential conflicts of interest he faces, as the New York property mogul prepares for his inauguration on January 20 as the 45th president of the US.
In a statement released on Christmas Eve, Mr Trump said he had instructed his lawyers to dissolve the charity without providing details on timing. The president-elect has faced considerable scrutiny over his charitable foundation and his business empire, with critics demanding that he sell off his businesses to completely eradicate any possibility of conflict of interest.
“The foundation has done enormous good works over the years in contributing millions of dollars to countless worthy groups, including supporting veterans, law enforcement officers and children,” Mr Trump said. “However, to avoid even the appearance of any conflict with my role as president I have decided to continue to pursue my strong interest in philanthropy in other ways.”