Jared Kushner’s family business came out $30 million richer after President Donald Trump visited Israel back in May. According to the New York Times, Kushner Companies received $30 million from Menora Mivtachim, an executive who represents a major Israeli financial institution.
The $30 million investment was made for a set of Maryland apartment complexes owned by Kushner’s family. This is a company that Kushner himself stepped down from last year to join his father-in-law’s administration. It’s worth noting that Kushner still owns stakes in the family business associated with these Maryland Apartments. This deal was not made public.
Kushner’s Shadow Money
This revelation is the latest regarding financial arrangements that have deepened the relationship between Kushner’s family business and Israeli figures and institutions.
The transaction does not violate federal ethics laws, but it illustrates Kushner’s extensive financial ties to Israel, even with his proposed diplomatic role in the Middle East. It undermines the United States’ capability to be seen as an independent, impartial broker in the region. It doesn’t help that Kushner’s father-in-law inflamed already-heightened tensions when he announced that Jerusalem is now recognized by the United States the state capital of Israel, and that he would officially move the United States Embassy to Jerusalem from Tel Aviv.
With that being said, the Trump administration is more focused on catering to their self-interests – White House spokesman Raj Shah noted that the administration has “tremendous confidence in the job Jared is doing leading our peace efforts, and he takes the ethics rules very seriously and would never compromise himself or the administration.”
A spokesperson for Kushner Companies downplayed the transaction, saying that partners exist all over the world. Kushner Companies is apparently “not precluded from doing business with any foreign company simply because Jared is working in the government.”
Featured image via Getty/Drew Angerer.