Jared Kushner obtained a $2 billion investment in his private equity firm from Saudi Arabia’s sovereign wealth fund only six months after the Trump administration ended, according to a report from the New York Times.
Kushner, who is the son-in-law of former President Donald Trump and who served as a senior adviser to Trump, was a close ally of Prince Mohammed bin Salman during Trump’s tenure in the White House.
The $2 billion investment was made despite the Saudi fund’s investment committee’s hesitancy. The four members voted unanimously against investing in Kushner’s firm citing the “inexperience” of top management, the bulk of the investment and risk falling on Saudi Arabia and “public relations risks.”
The Times got the opinions of ethics experts who reported that the move raises questions over whether the deal is a gratuity for Kushner’s role in helping Prince Mohammed during the Trump administration or if they are hoping to gain influence if Trump wins the White House again in 2024.
Subscribe to our free weekly newsletter!
A week of political news in your in-box.
We find the news you need to know, so you don't have to.
“This investment aims to form a strategic relationship with the Affinity Partners Fund and its founder, Jared Kushner,” the letter from fund staff to a board member said.
Reducing the $2 billion “may negatively or fundamentally affect the framework of the agreed strategic and commercial relationship,” the writer added.
The report also points out that Kushner had little prior experience in private equity but gained the $2 billion investment while Saudi invested half as much in former Treasury Secretary Steven Mnuchin, who has an extensive successful history as an investor. The committee’s opinion of Mnuchin starkly contrasted with their opinion of Kushner.
They said Mnuchin had “significant access toward understanding the future of the U.S. financial system’ and “deep experience at some of the highest levels of the U.S. regulatory system.”
A new ad about Green Party candidate Jill Stein has been released by Vice President Kamala Harris'…
https://youtu.be/inbJpo6D4BQ Jennifer Lopez, campaigning with Kamala Harris on Oct. 31 in Nevada, said Donald Trump’s…
Former National Security Adviser Michael Flynn declared that the "gates of hell" would be unleashed if former…
https://youtu.be/JQCdk-71tG0 Democratic presidential nominee Kamala Harris met with the woman who was the first in…
https://youtu.be/xc72fdqkaVc Vice President Kamala Harris vowed to put “country above party and above self” as…
U.S. District Judge Aileen Cannon has reportedly been placed on a list of potential attorney general candidates…