Jared Kushner 'in talks with Saudi Arabia' to receive $2bn

Jared Kushner 'in talks with Saudi Arabia' to receive $2 billion
2 min read
23 October, 2021
Jared Kushner is in talks with Saudi Arabia to receive $2bn for a private equity-style fund.
Jared Kushner is in talks with Saudi Arabia [Getty]

Donald Trump’s son-in-law and former advisor Jared Kushner is reportedly set to receive some $2 billion from Saudi Arabia for his private equity firm.

The report comes from Project Brazen, an organisation developed by New York Times investigators which publishes projects about spies, billionaires and celebrities.

It said money from Saudi’s Public Investment Fund (PIF) will fund the firm, which is set to get to approximately $5bn, with sources telling the publication that Kushner has been considering how the kingdom investment might impact his company.

While there has been no confirmation from Riyadh or Kushner about the reports, the former White House advisor announced his new investment firm, Affinity Partners, in July.

Kushner, the former chief executive of Kushner Companies served as the Republican president's senior adviser in the White House. His investment firm is headquartered in Miami.

Kushner, who is married to Trump's daughter, Ivanka Trump, is also looking to open an office in Israel to pursue regional investments to connect Israel’s economy and India, North Africa and the Gulf, Reuters reported earlier this year.

Meanwhile, sources close to the former president say he is strongly considering another run for the Republican nomination in 2024.

Ties with the crown prince

Kushner, who visited Saudi Arabia’s Future Investment Initiative in 2019, has reportedly developed a close relationship with Crown Prince Mohammed bin Salman, who chairs the PIF. 

When he was White House advisor, the Saudi royal family gave Kushner two swords and a dagger worth $48,000, which he later paid the US government for to keep.

Kushner was also credited with establishing controversial normalisation agreements with Israel and the United Arab Emirates, Sudan, Morocco and Bahrain.

Saudi Arabia has been in muddy waters after the killing of Washington Post journalist Jamal Khashoggi in 2018, which threw the kingdom under intense global scrutiny.