Washington: Asserting that the presidency is far more important than anything else, US president-elect Donald Trump on Wednesday said he would hold a news conference on December 15 to announce that he would be leaving his “great” multi-billion business over concerns of conflict of interest. Mr Trump, 70, who was elected as the 45th president of the US on November 8, said this in a series of tweets this morning. He will be sworn in on January 20.

“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 leave my great business in total in order to fully focus on running the country to MAKE AMERICA GREAT AGAIN,” he announced in a series of tweets. “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 said in another tweet.

“Hence, legal documents are being crafted which take me completely out of business operations,” he said. “The Presidency is far more important task,” Mr Trump said in another tweet trying to end the controversy surrounding the alleged conflict of interest he would have with his business while he is President of the US. There is no legal requirement to liquidate assets but past US presidents have set aside their business deals. Mr Trump’s rivals have raised repeated concerns this may cause problems in the coming months.

The president-elect had previously told the New York Times that he was considering separating his two areas of responsibility but was confident he could run both “perfectly”. His three eldest children — Donald Trump Jr, Eric and Ivanka — already hold roles within the Trump empire which boasts golf clubs, office towers and other properties in several countries, including India.

Dinner with Don at $1m per head:

Donald Trump’s richest supporters can enjoy a “candlelight dinner” with him and his Vice President-elect Mike Pence by shelling out $1 million and more. Mr Trump’s inaugural committee is offering elaborate presidential perks — including candlelight dinner with him, cabinet nominees and congressional leaders — for supporters ready to make seven-figure contributions for the billionaire tycoon’s swearing-in on January 20.

The supporters will get a slew of special perks during the inauguration weekend, including eight tickets to a “candlelight dinner” that will feature “special appearances” by Mr Trump, his wife Melania, Pence and his wife Karen, The Washington Post reported. The inauguration committee is taking contributions not just from individuals but corporations, just as President Obama did for his second inauguration in 2013.

Wall Street veteran is treasury secretary:

President-elect Donald Trump named Wall Street veteran Steven Mnuchin for treasury secretary on Wednesday, filling key slots on his economic team even as he announced plans to leave his businesses to avoid any conflict of interest. Mr Mnuchin and billionaire Wilbur Ross were asked in a television interview with CNBC if they could confirm reports they had been named to lead the US Treasury and Commerce departments, respectively.

“We can, indeed,” said Mr Mnuchin. “We’re thrilled to be here and we’re thrilled to work for the president-elect and honored to have these positions.” Mnuchin, 53, is a former Goldman Sachs partner who was Mr Trump’s campaign chairman and Mr Ross is an investor who has made billions turning around distressed companies.