John, let’s check back in with Jared Kushner:
New York Times: Kushner’s Fund Has Reaped Millions in Fees, but So Far Returned No Profits
We’re going to break this down:
After Jared Kushner left the White House in 2021, he promptly started a private equity firm which attracted foreign government investors including Saudi Arabia, the United Arab Emirates and Qatar.
Kushner’s portfolio during his time at the White House was wide ranging, including being tasked with brokering peace in the Middle East. He was also instrumental in building a tighter relationship with Saudi Arabia and developed a friendship with Saudi Crown Prince Mohammed bin Salman, defending him even in the wake of the murder of Washington Post journalist Jamal Khashoggi, which the Crown Prince allegedly orchestrated.
Perhaps not so coincidentally, the Saudi Sovereign Wealth Fund, which is controlled by MBS, invested $2 billion with Kushner’s firm, just six months after the end of the Trump administration.
And now we know that Kushner’s firm has been paid at least $112 million in fees since 2021 by Saudi Arabia and other foreign investors.
But according to findings of a Senate Finance Committee inquiry, as of July, it had not yet returned any profits to the governments largely bankrolling the firm.
John, that raises questions about whether the fund is partly a way for foreign governments to curry favor with Kushner and funnel him money in exchange for influence.
We’re going to keep a close eye on this, and we’re not going to let any profiting off of public office slide.
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