Donald Trump Announces His Intention to Dissolve the Trump Foundation

The charitable foundation remains under investigation by the NY attorney general's office.
2:24 | 12/27/16

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Transcript for Donald Trump Announces His Intention to Dissolve the Trump Foundation
And a back and forth brewing between president Obama and Donald Trump. The outgoing president telling former adviser David Axelrod in a podcast interview, he would have defeated trump if he had ran for a third term. The president-elect responding tonight on Twitter, saying, quote, no way. The war of words heating up as trump tries to move on from controversy surrounding his foundation. ABC's Mary Bruce is at the white house. Reporter: Tonight, the current versus the future president. It started with president Obama saying he could have taken on trump. I am confident in this vision, because I'm confident that if I had run again and articulated it, I think I could've mobilized a majority of the American people to rally behind it. Reporter: But late today, trump firing back, tweeting, "President Obama said he thinks he would have won against me. He should say that but I say no way! Jobs leaving, ISIS, Obama care." A very different tone tonight from that oval office meeting. Very good man. Very good man. Reporter: Trump tonight also slamming the U.N., just days after it passed a measure condemning Israel, saying "It has such great potential, but right now, it's just a club for people to get together, talk and have a good time." These latest critical tweeting coming 25 days before the inauguration, as Donald Trump is racing to free himself from potential conflicts. Announcing on Christmas eve he's shutting down the trump foundation to avoid even the appearance of any conflict. In the same statement, trump insisting that 100% of the money goes to charity. But there are questions about the foundation's spending, including whether trump inappropriately used foundation money to purchase this $20,000 portrait. Trump has already paid a penalty to the irs after the foundation made an improper campaign contribution. And now, trump's plan to shut it down is facing a major snag. The New York attorney general's office is investigating the foundation, and says it cannot legally dissolve until that investigation is complete. And Mary Bruce joins us live from the white house tonight. And Mary, we're also learning about a shakeup on his white house team? Reporter: That's right. Already a little staffing drama. Just a few days ago, trump named Jason Miller to be his communications director, but Miller's announced he won't be joining the team. Instead, Miller says his family needs to be his top priority. Tom? Mary Bruce tonight, thank you.

This transcript has been automatically generated and may not be 100% accurate.

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