Jared Kushner, an influential American real estate developer, is valued at an estimated $800 million. His fame escalated after his marriage to Ivanka Trump, leading him to gain global recognition, especially due to his role in President Donald Trump’s administration. Though he was already well-known in the New York real estate scene, his political ties amplified his visibility. After Trump’s presidency, Kushner launched a private equity firm, Affinity Partners, which quickly gained attention. Notably, it secured a significant $2 billion funding round led by Saudi Crown Prince Mohammed Bin Salman.
Early Life and Education
Jared Kushner was born on January 10, 1981, in Livingston, New Jersey, into a family with a rich history in real estate. His father, Charles Kushner, was a prominent real estate developer. Growing up in a Jewish family, Jared attended Harvard University starting in 1999, where reports claim his father made a substantial donation to facilitate his admission. Kushner graduated in 2003 with a Bachelor of Arts in government. In 2007, he furthered his education by earning both JD and MBA degrees from New York University. During his studies, Jared reportedly made millions from real estate deals.
New York Observer Acquisition
In 2006, at just 25 years old, Jared purchased the New York Observer for $10 million, a deal that some speculated was facilitated by his father’s help as a birthday gift. Under his leadership, the newspaper, which was struggling at the time, regained profitability. By 2016, its website saw an impressive traffic increase of nearly 600%. However, in 2017, Kushner stepped down to focus on his political career with Donald Trump’s administration.
Political Career and Influence
Jared Kushner’s political involvement began as Donald Trump considered running for president. As the campaign gained momentum, Kushner took on a vital managerial role, particularly focusing on Trump’s digital strategy. After Trump’s win in 2016, Kushner was granted high-level security clearance and continued to influence the administration’s decisions. His role culminated in him being named Senior Advisor to the President, further solidifying his place in U.S. politics.
Kushner Companies and Real Estate Ventures
The Kushner family business, Kushner Companies, owns and operates about $7 billion worth of real estate assets across the U.S. Jared’s most notable acquisition was the purchase of 666 Fifth Avenue in 2007, a deal that drew attention for its high price tag of $1.8 billion. However, the acquisition became problematic as the building’s financial performance struggled, and the company faced substantial losses during the 2008 real estate crash. By 2017, Kushner sold off parts of the building’s ownership and brokered a $1 billion bailout deal with Brookfield Asset Management, supported by Qatari investors. In 2019, the company also bought a large apartment portfolio worth $1.15 billion.
Involvement with Cadre and Additional Investments
In 2020, Jared Kushner sold his stake in Cadre, a real estate startup he co-founded. The company specialized in exploiting a tax break established by President Trump’s 2017 tax reform. Given Kushner’s familial ties to the president, the sale raised concerns about potential conflicts of interest. Nonetheless, it provided him with a substantial return, reportedly ranging between $25 million and $50 million.
Westminster Management and Legal Issues
Between April 2017 and June 2018, Kushner earned $1.5 million from Westminster Management, a company managing 20,000 apartment units across multiple states. In 2022, the company faced a significant legal setback, agreeing to a $3.25 million settlement in a lawsuit related to tenant mistreatment, which included overcharging and substandard living conditions.
Beneficiary Trust and Financial Disclosures
In April 2017, Jared and Ivanka were named as the beneficiaries of a trust holding real estate and investment assets valued at approximately $740 million. This figure was slightly adjusted to $710 million in 2018. These assets are indicative of the family’s vast wealth, accumulated through various investments and real estate holdings.
Affinity Partners and Saudi Investment
After leaving the White House, Kushner established Affinity Partners, a private equity firm. A significant early investment came from Saudi Crown Prince Mohammed Bin Salman, who led a $2 billion funding round through the Saudi Public Investment Fund. This financial backing raised eyebrows due to Kushner’s close ties to the Saudi government, particularly given his outspoken defense of the Crown Prince following the murder of journalist Jamal Khashoggi. In exchange for the investment, the Saudi fund acquired a 28% stake in the firm, making it one of the most substantial investments in Kushner’s career.
In 2009, Jared Kushner married Ivanka Trump, and they raised their three children together in a Jewish household. Ivanka converted to Judaism before their marriage. In 2019, Kushner faced a personal health challenge when he was diagnosed with thyroid cancer and underwent treatment. A second surgery took place in August 2022 to address ongoing issues with his thyroid.
Art Collection and Family Assets
Jared and Ivanka have reportedly built an impressive art collection worth an estimated $25 million. Their collection reportedly focuses on young, emerging artists, adding a cultural element to their portfolio. Ivanka herself reported assets of $55 million in 2018, along with an annual income of $135 million. Additionally, her departure from the Trump Organization following her father’s presidential inauguration included a $2 million severance package.
Exclusive Miami Property Purchase
In December 2020, Jared and Ivanka purchased a highly exclusive 1.8-acre plot of land in Miami for $30 million. The property, located on Indian Creek, also known as “Billionaire Bunker,” was previously owned by Latin singer Julio Iglesias. The island is famous for its exclusivity, offering privacy to its residents, which include other high-profile figures such as Beyoncé, Jay-Z, and Adriana Lima. The property is so secluded that access is restricted, and visitors must have written permission from the owner to enter.
The island is known for its elite residents and stringent privacy rules. It’s patrolled by 14 full-time police officers, offering a sense of heightened security and making it one of the most coveted addresses in the world.
