Trump handing business to sons, says 'no new deals' while president

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President-elect Donald Trump said late Monday that no new deals will be executed with regard to his businesses while he is in White House.

Trump, in a series of tweets Monday night, said he plans to leave his businesses before his inauguration on January 20, handing over the reins to his sons, Eric and Donald Jr., and other executives.

See more on Eric Trump:

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First Family: Getting to know Eric Trump
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First Family: Getting to know Eric Trump

Eric Trump is President-elect Donald Trump's third child with his first wife Ivana Trump. 

Caption: Ivana Trump, Eric Trump, her former husband Donald Trump and her daughter Ivanka Trump in 1998. (Getty)

Eric attended The Hill School, a strict boarding school in Pottstown, Pennsylvania. 

Caption: Ivana Trump and Eric Trump in 1996. (Getty)

Eric attended Georgetown University in Washington D.C. He is the only one of the adult Trump siblings that did not attend their father's alma mater University of Pennsylvania. 

Caption: Donald Trump Jr., Ivanka Trump, Eric Trump and Tiffany Trump (Reuters) 

Eric is a reality tv star just like his father. He has made appearances alongside the president-elect on The Apprentice as a boardroom judge from 2010-2015. 

Caption: Donald Trump (C) and his sons Eric F. Trump (L) and Donald Trump Jr. (R) attend the 'Celebrity Apprentice All Stars' Season 13 Press Conference in 2012. (Getty)

Eric Trump married his wife Laura in 2014. She is a producer for CBS' Inside Edition. 

Instagram caption: "Amazing that our anniversary is also Election Day! Happy anniversary @laraleatrump 🇺🇸🇺🇸"

Eric founded the Eric Trump Foundation when he was 23-years-old. The charity aims at raising money for children at St. Jude Children’s Research Hospital. The organization's website says they have "donated and pledged nearly $30 million dollars to St. Jude."

Instagram caption: "So proud of our @erictrumpfdn Road Scholar truck! It's dedicated to the children of @stjude"

Eric runs the Trump Organization's golf courses. Since joining the organization in 2013, Eric increased the number of international golf courses from three to 17.

Instagram caption: "Beautiful day to play at Trump National Jupiter @larayunaska"

While speaking on the campaign trail in October, Eric Trump mistakenly introduced then-vice presidential candidate Mike Pence as the Governor of Illinois. Pence is the governor of Indiana. The 32-year-old chalked it up to a slip of the tongue. 

Caption: Vice President-elect, Indiana Governor Mike Pence (C) is greeted by Eric Trump (R), son of President-elect Donald Trump. (Getty)

Eric made headlines on Election day after he tweeted a photo of his ballot while voting for his dad. The tweet was quickly deleted, but not before garnering over 3,000 retweets and over 8,000 likes. 

It is illegal in New York to share a photo of your election ballot.

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"Even though I am not mandated by law to do so, I will be leaving my businesses before January 20th so that I can focus full time on the presidency," he wrote.

The announcement comes after a long-anticipated press conference on the matter was postponed earlier Monday. Initially, transition officials said a more detailed announcement would come in January. Trump said he would hold a press conference in the "near future."

It is unclear whether Trump will completely divest himself of his numerous assets, which include dealings in countries all over the globe.

See more on Donald Trump Jr.:

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First Family: Meet Donald Trump Jr.
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First Family: Meet Donald Trump Jr.
Donald Trump Jr., Ivana Trump, Donald Trump, and Ivana's father (Photo by Ron Galella, Ltd./WireImage)
Eric Trump, Donald Trump Jr., Tiffany Trump, Ivanka Trump, Donald Trump, and Marla Maples (Photo by Ron Galella/WireImage)
American future businessman Donald Trump Jr attends the groundbreaking ceremony for one of his father's Trump International hotels, 1990s. (Photo by Rose Hartman/Getty Images)
Donald Trump, Jr. and Vanessa Haydon during The 53rd Annual MISS USA Competition at Avalon in Hollywood, CA, United States. (Photo by Chris Polk/FilmMagic)
UNITED STATES - APRIL 14: Donald Trump is joined by his son, Donald Jr., at a Park Ave. luncheon hosted by The Donald. (Photo by Andrew Savulich/NY Daily News Archive via Getty Images)
UNITED STATES - FEBRUARY 17: Co-Chair Ivanka Trump and brother Donald Jr. are at the Rose Center for Earth and Space as the American Museum of Natural History celebrates heavenly bodies of the universe at their annual Winter Dance. (Photo by Richard Corkery/NY Daily News Archive via Getty Images)
Hey #Vegas get out there and vote because Rick Harrison aka @rick_harrison says so!!! 😂🇺🇸🇺🇸🇺🇸 #nevada #maga #makeamericagreatagain #trump2016 #basketofdeplorables #trump #pawnstars
My 3 princesses. Vanessa, Kai, and Chloe aka the smurf😂 We did our annual family pics last weekend and they came out awesome... With 5 kids getting them to all look at the camera and smile is a task in futility but every once and a while it comes together. #memories #familytime #family #daddysgirl thanks @jenniferblakeley
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The president-elect's labyrinthine business interests have been the subject of much hand-wringing leading up to the start of his presidency, but Trump has brushed off the concerns.

Tweets from New York Times reporters Maggie Haberman and Mike Grynbaum from a November meeting showed that Trump understood how his business ties could be perceived.

RELATED: The Trump Organization Inc.

"The law's totally on my side. The president can't have a conflict of interest," he said. But, he added, "My company's so unimportant to me relative to what I'm doing."

Allan Smith contributed reporting.

RELATED: Donald Trump named Time's Person of the Year

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