Feb 16 • 08:58 UTC 🇩🇪 Germany FAZ

Private Equity: How Jared Kushner Increases His Wealth

Jared Kushner's financial firm capitalizes on global connections made during his time working with Donald Trump, despite being criticized by investment committees.

The article discusses how Jared Kushner, son-in-law to former President Donald Trump, has strategically leveraged his global connections and the influence of Saudi Crown Prince Mohammed Bin Salman to boost his financial firm, Affinity Partners. Despite receiving scathing criticism from a five-man investment committee of the Saudi Arabian Public Investment Fund (PIF), which labeled the firm as poorly managed and excessively charged, the committee's dissent was overruled by the Crown Prince, who ordered a $2 billion investment into Kushner's firm in the summer of 2021. This decision underscores the substantial power and influence that Kushner holds within financial circles, particularly in relation to Middle Eastern investments.

The PIF's investment strategy has been core to Saudi Arabia's economic diversification efforts, and Kushner's ties to the Trump administration appear to have enabled him to cultivate close relationships with influential figures in the Middle East. However, the ramifications of such financial maneuvering raise questions about the ethics and governance of private equity, especially concerning the influence of politics on investment decisions. The article thus reflects on the broader implications of how political connections can shape the financial landscape, particularly for individuals like Kushner who operate between public office and private enterprise.

Overall, Kushner's relationship with the Saudi Crown Prince demonstrates not only the value placed on personal connections in international finance but also various challenges facing regulatory frameworks aiming to scrutinize such intertwined political and financial interests. This scenario has ramifications beyond just Kushner’s wealth, touching upon issues of transparency and accountability in investment practices linked to state investment funds.

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