President Donald Trump’s son-in-law, Jared Kushner, was a top White House official during Trump’s first term. After exiting the White House in 2021, Kushner launched a new private equity firm, Affinity Partners, and announced he was seeking to raise $7 billion. Kushner had no experience in private equity, and his most significant business experience was nearly bankrupting his family’s real estate company.
Who would be interested in giving Kushner billions of dollars? Kushner raised $2 billion from the government of Saudi Arabia through their Public Investment Fund (PIF). The PIF committee that screens investments recommended rejecting Kushner’s proposal, citing “the inexperience of the Affinity Fund management” and “excessive” fees. The committee’s recommendation, however, was overruled by Crown Prince Mohammed bin Salman (MBS), who Kushner formed a friendship with during his time in the White House. Kushner helped MBS manage the fallout after United States intelligence agencies determined MBS ordered the brutal murder of U.S.-based journalist Jamal Khashoggi. To date, Kushner has raised $4.6 billion, including additional funds from Qatar and the United Arab Emirates.
From its inception, this arrangement was an ethical morass. Kushner is on the payroll of foreign governments and although he does not have a formal position in the second Trump administration, admitted that he still serves as an advisor to his father-in-law.
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