Bloomberg reported on the reason for Witkoff's sale of a stake in his company for $ 120 million.

US President Donald Trump's special Envoy Steve Witkoff sold a stake in his own real estate management company for $120 million due to a conflict of interest. This was reported on September 14 by Bloomberg with reference to the relevant published financial documents.

"Witkoff <...> sold a stake in his namesake real estate management company for $120 million to resolve potential conflicts of interest. <...> Witkoff Group LLC, whose portfolio includes high—end real estate <...>, was one of six assets that he (Witkoff — Ed.) estimated at more than $50 million," the material says.

The agency noted that the deal was completed as part of a planned asset sale. It is clarified that Witkoff also owns shares in SpaceX of American entrepreneur and billionaire Elon Musk, shares in Cisco Systems Inc., Reddit Inc. and Uber Technologies Inc., and also owns apartments and houses, hedge fund holdings, airplanes, motorboats and digital assets.

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