Jared Kushner, Donald Trump’s son-in-law, made some interesting comments during a podcast last Friday. He talked about how his investment firm, Affinity Partners, raised a huge $1.5 billion in capital from Qatar and the UAE. The key point? He said the money came in regardless of Trump’s election win.
Why does this matter? Well, Kushner, who’s married to Ivanka Trump, served as a senior adviser to Donald Trump during his presidency, especially focusing on the Middle East. This has raised eyebrows, as some Democrats have been critical of his firm’s investments in the region.
For example, in 2021, just months after Kushner left the White House, his firm closed a $2 billion deal with a Saudi fund led by Crown Prince Mohammed bin Salman. There’s also been some chatter about Kushner possibly lobbying for the Saudi prince after the Saudi Public Investment Fund (PIF) invested $87 million in his firm.
Despite all this, Kushner isn’t expected to play a big role in his father-in-law’s second term, but he did clarify a few things on the podcast. He mentioned how they closed the $1.5 billion deal before the 2024 election and made sure everything was set up to avoid any conflicts of interest.
What Did He Say?
On the podcast, Kushner explained how they approached investors earlier in the year, urging them to commit to the fund before the election. He emphasized that they locked in the capital before the results came out, and it wasn’t dependent on whether Trump won or lost.
He even went a step further, reassuring investors that if Trump did win, they shouldn’t expect anything extra from him. According to Kushner, this deal was based on investments made back in 2021, when Trump’s political future wasn’t as clear.
Some Background
Kushner’s firm counts some powerful players among its investors, including Saudi Arabia’s PIF, Abu Dhabi’s Lunate, and Qatar’s QAI. He also played a significant role in Middle Eastern diplomacy during Trump’s first term, notably brokering the Abraham Accords that led to Bahrain and the UAE recognizing Israel.
However, his firm’s dealings have raised questions. Oregon Senator Ron Wyden and Maryland Representative Jamie Raskin even wrote to Attorney General Merrick Garland earlier this year, asking for an investigation into Kushner’s ties with Saudi Arabia. They accused him of acting like a “shadow diplomat” for the crown prince and using his political connections to funnel money to his business.
Kushner responded during the podcast, brushing off these concerns and claiming that these calls for investigation were “silly” and didn’t understand how private equity works. He defended his firm, saying it’s legitimate and SEC-regulated.
What People Are Saying
Democrats, including Wyden and Raskin, have been vocal in their concerns, calling for further scrutiny of Kushner’s financial ties. Representative Robert Garcia even took to social media, accusing Kushner of pocketing millions from Saudi Arabia without delivering any profits through his investment fund.
On the flip side, some people, like David Marcus, CEO of a cryptocurrency startup, have praised Kushner, describing him as both a “deep thinker” and an “execution machine,” while recommending the podcast episode as worth a listen.
What’s Coming Next?
As Trump prepares to take office again in January, the political landscape in the Middle East is shifting. The region has seen some major changes recently, especially in Gaza, Israel, Lebanon, and Syria. Meanwhile, Trump has appointed Massad Boulos, a Lebanon-born billionaire and his daughter Tiffany’s father-in-law, as a senior adviser on Arab and Middle Eastern affairs.
