The president-elect of the US Donald Trump says he will step aside from running his business empire to focus on the presidency.
In a series of tweets, Mr Trump says he is leaving his business "in total" in order to fully focus on running the country.
"While I am not mandated to 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."
He says that legal documents are being drawn up which take him completely out of business operations.
"The Presidency is a far more important task", he adds.
He says he will hold "a major news conference" in New York with his children on December 15th.
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
The businessman, who is worth US$3.7bn (€3.47bn) according to Forbes, has assets including office towers, private golf clubs and luxury hotels around the world.
This includes his Trump Doonbeg resort in Co Clare.
There had been calls for Mr Trump to sever his business ties before taking office.
Critics argued that the billionaire could expose himself to potential conflicts of interest.
It is thought such a move will help eliminate any such conflicts, and also help to maintain impartiality in dealings.
There were also some concerns that maintaining the status quo may have posed a threat to US national security.
