Jared Kushner Net Worth: On January 10th, 1981, Jared Corey Kushner was born in Livingston, New Jersey. Charles Kushner, a well-known real estate entrepreneur, is Jared’s father. Jared, who was raised in a Jewish home, enrolled at Harvard University that year.
According to a journalist, Jared’s father gave $2.5 million before their kid got accepted. Jared Kushner earned a Bachelor of Arts in government from Harvard in 2003. Later, in 2007, he graduated from New York University with a dual JD/MBA degree. Kushner allegedly made millions while in college by concluding real estate deals in his leisure time.
Jared Kushner Net Worth
American real estate entrepreneur Jared Kushner has an estimated net worth of $800 million. Thanks to his employment in President Donald Trump’s administration, Jared Kushner rose to fame on a global scale. He acquired this position through his marriage to Ivanka Trump. Jared was well-known in the New York real estate community before Trump’s victory.
Jared founded a private equity company named Affinity Partners six months after Donald Trump’s presidency came to an end. Affinity Partners secured a $2 billion fundraising round sponsored by Saudi crown prince Mohammed Bin Salman not long after the company’s founding.
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Political Career
When Donald Trump started to seriously explore running for government, Jared Kushner’s political career began. Jared was one of the campaign’s managers with the most involved when it got underway for Trump. Particularly engaged in Trump’s online presence was Kushner.
Kushner continued to play a significant role in the government after receiving a high-level security clearance after Trump won the election. The position of Senior Advisor to the President was eventually bestowed to him.
Kushner Companies
The Kushner Companies, run by Jared’s family, owns and manages real estate holdings worth almost $7 billion across the nation. Jared directly managed the acquisition of the average-sized office building at 666 Fifth Avenue in New York City in 2007. He overpaid by $1.8 billion at a “unconventional” price in an effort to close the purchase in the face of opposition from other investors.
He only contributed $50 million in stock, therefore he was obliged to take out loans for the rest $1.75 billion. These lenders required Jared to increase the building’s rental revenue by double in order to maintain a reasonable loan-to-value ratio (LTV). When Jared was just 26 years old and had just taken over the family firm, he handled this transaction. Because of his father’s conviction on allegations of tax evasion, witness tampering, and other felonies, he took on a leadership position inside the business.
Jared assumed over and handled several new initiatives when Charles Kushner was imprisoned by the federal government in 2005, including the acquisition of 666 Fifth Avenue. Within the first ten years of running the firm, Jared oversaw the spending of almost $7 billion on real estate acquisitions, including the purchase that was a part of a far larger expansion into New York City.
The structure turned out to be a huge problem, and Kushner Cos. lost $90 million on its investment during the real estate meltdown of 2008. Jared started to sell off ownership interests in the building with his father’s support. Jared helped arrange a $1 billion rescue with Brookfield Asset Management (a corporation managed by the Qatari government) in 2017 after selling his personal ownership position in the company.
It was revealed in 2019 that Kushner Cos. had just paid $1.15 billion for a portfolio of apartments. The rental properties were the biggest acquisition for Kushner Companies in over a decade.
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Conclusion
American entrepreneur and investor Jared Corey Kushner has an estimated net worth of $800 million. He served as a key counselor to his father-in-law, Donald Trump, the 45th President of the United States.
After leaving the White House, Kushner founded Affinity Partners, a private equity firm that gets investment from several sources, including the sovereign wealth fund of the Kingdom of Saudi Arabia.