In a series of tweets early Wednesday morning, President-elect Donald Trump announced he "will be leaving my great business in total in order to fully focus on running the country.” Trump added that he  and his children will hold a “major news conference” in New York on Dec. 15 to discuss the issue.

Trump noted it is “visually important, as President, to in no way have a conflict of interest with my various businesses” as the “Presidency is a far more important task” and legal documents “are being crafted.”

Many questions have been raised about what Trump's plans to do about his involvement with his various businesses under The Trump Organization umbrella when he becomes president. 

Democrats on the House Oversight and Government Reform Committee this week called for an examination of Trump’s various businesses and possible conflict of interests when he takes over the White House on Jan. 20.

The president-elect has previously said his three eldest children, Donald Jr., Ivanka and Eric, who currently serve as both executive vice presidents of The Trump Organization and have roles in his presidential transition team, will oversee business operations to prevent conflicts. 

The Trump Organization, which was founded in 1923 and was originally called Elizabeth Trump & Son, is a global conglomerate whose industries span real estate, construction, hotels, book and magazine publishers and more.