President-elect Donald Trump says he will be leaving his business empire in the hands of his children, even though he will almost certainly come under fire over potential conflicts of interest.
The Republican was due to hold a press conference later this week to explain how he would be completely separating himself from his business interests. However, he has now put that announcement back until the New Year.
Taking to Twitter, he promised to leave his business interests before taking the keys to the White House on January 20. He said he wanted to be free to focus all of his energies on the top job in the free world. Mr Trump said that his sons Don and Eric, helped by executives, would be managing his firms and that there would be no deals done while he was president.
In an interview, he said that while his company was a great one, he would not be managing it in any way while president. Sean Spicer, who is the transition team spokesman, said the news conference had been delayed by a few weeks because Mr Trump’s legal team needed to work out details of the plan for the Trump Organisation, which is large and complex.
While he is facing heavy criticism for potential conflict of interest, Mr Trump has repeatedly said that he is acting above and beyond his duty as there is no legal obligation for him to give up his business interests.
However, many scholars have said that while there may be no legal duty, he is defying convention which many people say is a vital component of democracy. Previous presidential candidates have pledged to place their assets into a blind trust in the event that they won.
Mr Trump has already received a letter from government groups and laywers who told him that it was not good enough to simply hand over the running of his company to his children.