Thursday, April 14, 2022

Saudis Invest $2 Billion with Jared Kushner, Trump’s Son-in-Law

Kushner + MBS, Youtube
Kushner + MBS, Youtube

A fund led by the Saudi crown prince contributed over $2 billion to Jared Kushner’s new $2.5 billion investment fund in the wake of cozy ties with the Trump administration, The New York Times reported Sunday.

Saudi Arabia’s $620 billion Public Investment Fund made the move despite serious concerns about risks investing in Kushner’s fledgling Affinity Partners investment organization, which he set up last year, according to the Times. Before father-in-law Donald Trump brought him on as a White House senior adviser, Kushner worked as a real estate developer, not an investment fund manager.

Kushner secured the money six months after leaving the White House. But the Saudi panel that supervises investments for the sovereign wealth fund expressed significant concerns about a number of issues, including the “inexperience of the Affinity Partners management” and other “unsatisfactory” aspects of the new company, according to documents obtained by the Times.

The panel was overruled by de facto Saudi leader, Crown Prince Mohammed bin Salman, friend of Kushner and recipient of significant Trump administration benefits.

The lucrative money ties between the Saudis and Kushner raise serious ethics issues, particularly if Trump becomes president again, but there’s nothing illegal about the relationship.