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Jared Kushner’s Private Equity Firm Could Retain Controversial Saudi Funding

Kushner's Saudi Investment May Continue Despite Trump's Potential Reelection.
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Jared Kushner may retain the controversial Saudi investment in his private equity firm, even if his father-in-law, Donald Trump, is reelected as U.S. president.

In an interview with Fox News aired on Wednesday, Saudi Crown Prince Mohammed bin Salman stated that the Public Investment Fund (PIF) is obligated to uphold its global commitments to any investor. Consequently, the fund would continue to support Kushner’s firm with the $2 billion funding, regardless of the potential for a Trump presidency.

 Jared Kushner, husband of Ivanka Trump talks to Paris Saint-Germain President Nasser Al-Khelaifi during the FIFA World Cup Qatar 2022 Group G match between Brazil and Serbia at Lusail Stadium on November 24, 2022 in Lusail City, Qatar. Kushner may return Saudi firm if Trump is re-elected to a second term. (JEAN CATUFFE/GETTY IMAGES) 

Bin Salman, the de facto ruler, expressed no concerns about PIF’s financing of Kushner, despite Kushner’s close relationship with Trump. Kushner had previously served as a senior advisor to the former president during his time in the White House.

“We look to opportunities and investment. We have investment, a lot of investment around the globe, a lot of people, and economic opportunity,” bin Salman said.

When questioned about whether the financing would influence decisions within the new Trump administration, bin Salman highlighted the significance of Saudi Arabia’s global connections. 

“So, is that gonna affect President Trump’s decision if he becomes president, that mean[s] that gonna affect every president in the world and every person in the world… because that is going directly to have some sort of interest in something to do with Saudi Arabia,” he said.

Following Trump’s departure from office after an unsuccessful election, Kushner established his private equity fund, Affinity Partners. Subsequently, he secured the controversial $2 billion investment from the PIF.

Democratic Congress members raised concerns about potential ethical breaches related to this Saudi investment, alleging a “quid-pro-quo” arrangement.

In mid-August, House Oversight Committee Chairman James Comer (R-KY) accused Kushner of crossing ethical boundaries by accepting the $2 billion investment. Rep. Jared Moskowitz (D-FL) also brought up Kushner’s Saudi deal during a House Committee hearing.

Democrats have been advocating for an investigation to uncover the terms and implications of Saudi Arabia’s involvement.

It’s important to note that the Kushners have distanced themselves from Trump’s current campaign, citing family commitments. Nonetheless, some insiders speculate on the possibility of their return to the White House if Trump succeeds in the general election.

Kushner along with his wife, Ivanka Trump, previously served as White House advisors during Trump’s first term as president.

No indication has been giving if Kushner and his wife will serve in the White if his father-in-law will be re-elected in 2024.

Trump is expected to be the likely nominee for the Republican nomination against incumbent President Joe Biden.


Produced in association with Benzinga

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