American investor, entrepreneur, and political adviser Jared Kushner, 41, most recently worked for his father-in-law, former President Donald Trump.
Although he played a significant role in the 2016 presidential election, a recent book claims that several individuals in the White House, including the president, were attempting to have him removed from his position as the head of the 2020 reelection campaign.
Former Trump economics advisor Peter Navarro wrote the book “Taking Back Trump’s America: Why We Lost the White House and How We’ll Win It Back,” which describes the strategy to demote Kushner from a position of power.
Despite the controversies surrounding him, Kushner continues to be a wealthy man and a well-known public personality.
A Summary Of Jared Kushner’s Childhood
On January 10th, 1981, Jared Corey Kushner was born in Livingston, New Jersey. Charles Kushner, a well-known real estate entrepreneur, is Jared’s father. Jared, who was raised in a Jewish home, enrolled at Harvard University that year.
According to a journalist, Jared’s father gave $2.5 million before his son got accepted. Jared Kushner earned a Bachelor of Arts in government from Harvard in 2003.
Later, in 2007, he graduated from New York University with a dual JD/MBA degree. Kushner reportedly made millions while in college by concluding real estate deals in his spare time.
What Is The Net Worth Of Jared Kushner?
| Net Worth: | $800 Million |
| Date of Birth: | Jan 10, 1981 (41 years old) |
| Place of Birth: | New Jersey |
| Gender: | Male |
| Profession: | Businessperson, Media proprietor |
| Nationality: | United States of America |
American real estate entrepreneur Jared Kushner has an estimated net worth of $800 million. Thanks to his employment in President Donald Trump‘s administration, Jared Kushner rose to fame on a global scale.
He acquired this position through his marriage to Ivanka Trump. Jared was well-known in the New York real estate community before Trump’s victory.
Jared founded a private equity company named Affinity Partners six months after Donald Trump’s presidency came to an end. Affinity Partners accepted a $2 billion fundraising round led by Saudi crown prince Mohammed Bin Salman not long after the company’s founding.
Property Owned By Jared Kushner
In accordance with a financial declaration agreement in 2018, Ivanka Trump, the wife of Jared Kushner, disclosed assets of $55 million. She also stated a $135 million yearly income in 2018. After her father’s inauguration, Tiffany resigned from the Trump Organization and was given a $2 million severance settlement.
According to a 2018 New York Times investigation, Jared reported personally-controlled real estate assets with a 2016 market worth of $372 million. Ivanka Trump and Jared Kushner reportedly paid $15,000 a month to rent a 7,000-square-foot condo in Washington, D.C. in 2019.
In December 2020, it came to light that Jared and Ivanka spent $30 million to purchase an undeveloped 1.8-acre parcel of land on Indian Creek, a very expensive private island in Miami. Latin crooner Julio Iglesias was the seller.
The land parcel was put together by Julio in two deals. First, he had a mansion on a single property for many years. He demolished the mansion before spending $15.2 million on the next property in 2008 to unite them into the almost 2-acre empty oceanfront lot.
Beyonce and Jay-Z, wealthy hedge fund manager Eddie Lampert, NFL head coach Don Shula, and supermodel Adriana Lima are among the island’s other residents.
It is forbidden to get out of your car to travel anywhere other than the residence you were invited to since the island is so exclusive and private that visiting is only permitted with an owner’s written consent. There are 14 police officers on the island for every 40 full-time people. The “billionaire bunker” is the name given to the island.
Overview Of Kushner Companies
The Kushner Companies, run by Jared’s family, owns and manages real estate holdings worth almost $7 billion across the nation. Jared directly managed the acquisition of the average-sized office building at 666 Fifth Avenue in New York City in 2007.
He overpaid by $1.8 billion at an “unconventional” price in an effort to close the purchase in the face of opposition from other investors.
He only contributed $50 million in stock, therefore he was obliged to take out loans for the rest $1.75 billion. These lenders required Jared to increase the building’s rental income by twofold in order to maintain a reasonable loan-to-value ratio (LTV).
When Jared was only 26 years old and had just taken over the family firm, he handled this transaction. Because of his father’s conviction on allegations of tax evasion, witness tampering, and other felonies, he took on a leadership position inside the business.
Jared assumed charge and handled numerous new initiatives when Charles Kushner was imprisoned by the federal government in 2005, including the acquisition of 666 Fifth Avenue.
Within the first ten years of running the company, Jared oversaw the spending of almost $7 billion on real estate acquisitions, including the purchase that was a part of a far larger expansion into New York City.
The structure turned out to be a huge problem, and Kushner Cos. lost $90 million on its investment during the real estate meltdown of 2008. Jared started to sell off ownership interests in the building with his father’s support.
Jared helped arrange a $1 billion rescue with Brookfield Asset Management (a corporation run by the Qatari government) in 2017 after selling his own ownership position in the company.
It was revealed in 2019 that Kushner Cos. had just paid $1.15 billion for a portfolio of apartments. The rental properties were the biggest acquisition for Kushner Companies in over a decade.
Getting Political
Kushner was appointed as the president of Trump’s campaign in 2016 and served as his top counselor. He continued to serve as Trump’s counselor after the election while Trump was in the White House.
The transfer of the American embassy in Israel from Tel Aviv to Jerusalem was crucially aided by Kushner.
Additionally, he played a significant role in negotiating the Abraham Accords, a landmark pact that marked the beginning of improved ties between Israel and a number of Middle Eastern Arab states.
Kushner left the White House after his time there and did not work in Trump’s 2020 re-election campaign. Instead, he established the private equity company Affinity Partners. Saudi Arabia’s sovereign wealth fund invested money towards the project. He continues to serve as a director of Kushner Companies and a real estate investor.
Conclusion
Jared Corey Kushner is an American businessman and investor who has a net worth of $800 million. His father-in-law, Donald Trump, the 45th president of the United States, employed him as a top advisor.
Kushner established Affinity Partners after leaving the White House, a private equity company that receives funding from the Saudi government’s sovereign wealth fund among other places.
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