Donald Trump
Donald TrumpReuters

President-elect Donald Trump announced Wednesday morning that he will be completely abandoning his business empire in order to focus on running the country.

Trump made the announcement in a series of tweets.

"I will be leaving my great business in total in order to fully focus on running the country in order to make America great again." he wrote. "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."

Trump also wrote that he is having legal documents drawn up to completely separate him from the businesses he has been associated with for decades.

He called serving as the President “a far more important task!"

Trump transition spokesman Jason Miller told Fox News that Trump was handing over his business empire to his family, so that he can "be fighting for the American people around the clock.”

Trump had previously stated that he will hand over his businesses to his three oldest children, Donald Jr., Eric, and Ivanka.

Reince Priebus, who will serve as Trump's White House Chief of Staff, told MSNBC's "Morning Joe," that Trump and his team are taking the issue of potential conflicts of interest seriously and working to ensure that there are none once he enters the White House.

Trump owns numerous towers and other properties around the world. He also holds ownership stakes in more than 500 companies.