Jared Corey Kushner is an American businessman, investor, and former government official. He is also famous for being the son-in-law of former U.S. President Donald Trump through his marriage to Ivanka Trump. The couple married in 2009 after she converted to Judaism. They have three children, Arabella Rose, Joseph Frederick, and Theodore James. Kushner served as a senior advisor to Trump from 2017 to 2021.
In 2005, when Kushner was 24 and in law school, his father Charles Kushner was sentenced to 2 years in prison for tax evasion, witness tampering, and offering illegal campaign donations. However, he was paroled after one year. He had to step up to run the Kushner Companies in his father’s absence. Since leaving the White House, Kushner founded Affinity Partners, a private equity firm investing in Israeli and American companies expanding in the Middle East, Africa, and Asia. As of 2019, Kushner’s net worth is estimated at $800 million.
Jared Is A Real Estate Developer
Just like Donald Trump, Jared Kushner works for the family business. Right from his college years, Kushner has been an active real estate investor. Following his father’s conviction, Kushner took a much bigger role in the family real estate business. He increased the Kushner Companies’ presence throughout the New York City real estate market. He expanded the business and acquired almost $7 billion in property within the space of ten years.
In 2007, Kushner Companies purchased 666 Fifth Avenue for $1.8 billion. It was the most expensive single property purchase in US history at the time. In 2011, Kushner purchased a 130,000-square-foot office tower at 200 Lafayette Street in Manhattan for $50 million, he sold it two years later for $150 million.
From 2013 to 2014, Kushner and his company acquired more than 11,000 units throughout New York, New Jersey, and the Baltimore area. In 2014, Kushner, with his brother Joshua and friend Ryan Williams, co-founded an online real-estate investment platform, Cadre. In May 2015, he acquired a 50.1% stake in the Times Square Building from Africa Israel Investments Ltd. for $295 million. Then in 2020, his ownership stake in Cadre was estimated at $25–50 million
Kushner Is Also An Investor
In 2021, Kushner formed a global investment firm, Affinity Partners. Just six months after leaving the White House, Kushner secured a $2 billion investment from a fund led by the Saudi crown prince. He ignored objections from the fund’s advisers about the merits of the deal. A panel that screens investments for the main Saudi sovereign wealth fund had concerns about the proposed deal with Kushner. Some of the concerns included the inexperience of Affinity management, the degree of risk to be assumed by the Saudi kingdom, and an “excessive” management fee.
Kushner stated that he hopes to open an “investment corridor between Saudi Arabia and Israel. When he worked as a White House adviser, Kushner defended the Saudi ruler Mohammed bin Salman. The Public Investment Fund led by Crown Prince Mohammed bin Salman, Saudi Arabia’s de facto ruler overruled the panel and invested $2 billion in Kushner’s firm. The fund planned to invest Saudi money into startup companies in Israel. In 2023, the Republican candidate, Chris Christie criticized Kushner and Trump for the deal.
Kushner Compared To Other Real Estate Moguls
When Jared Kushner became Senior Advisor to President Trump in 2017 many doubted he would be able to handle both his political responsibilities and real estate business. However, Kushner has been able to pull it off. When compared to his father-in-law, former president Donald Trump, Kushner gives Trump a run for his money in the real estate stakes. As well as his stake in his family’s $15 billion property business, which boasts everything from luxe townhouses to sprawling office complexes in New York and beyond.
Jared Kushner made several bad decisions when he became CEO of the Kushner Companies. On the eve of the property crash in 2008 Kushner Cos. put down $50 million and borrowed the rest, the cash flow generated by the property was insufficient to cover its debts. Rental rates and net operating income immediately began dropping. Kushner Companies lost more than $90 million on its investment.
A number of real estate moguls around the world would give Jared Kushner a run for his money. Hugh Grosvenor, 7th Duke of Westminster, like Kushner, was also born into the real estate family business. His father, Gerald, 6th Duke of Westminster, was the billionaire owner of Grosvenor, a British real estate and landholding company with a portfolio of more than 1,500 properties. When his father died in 2016, Hugh Grosvenor became a major shareholder of the company, which holds assets in more than 60 countries, with land holdings controlled by the company. Some of the land has been in his family since 1677. As of February 2022, the Grosvenor group was estimated to be worth $12.9 billion.
Jared Kushner Compared To Other Political Figures
There’s no doubt Jared Kushner lacked experience when he became Senior Advisor at the age of 36. However, he wasn’t the youngest of Trump’s appointed special advisers. Stephen Miller held that title, he was appointed Senior advisor when he was 32.
Kushner is well known for his politeness, soft-spoken personality, and well-behaved nature. Real estate lawyer Robert Ivanhoe stated that he had never seen any kind of erratic behaviour from Kushner. His father-in-law on the other hand is an entirely different case.
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