Jared Kushner is a successful businessman and investor in the United States. Ivanka Trump, who is also an advisor, is married to Jared Kushner, who is the son of Charles Kushner, a former real estate magnate.
Jared Kushner is the son of Charles Kushner. Jared Kushner is married to entrepreneur Ivanka Trump.
Early Years
Jared Corey Kushner was born in Livingston, New Jersey, on January 10, 1981. Jared’s father is the renowned real estate developer Charles Kushner. In 1999, Jared, who was raised in a Jewish family, attended Harvard University.
One journalist reported that Jared’s father donated $2.5 million prior to his son’s acceptance. In 2003, Jared Kushner received a Bachelor of Arts in government from Harvard.
In 2007, he received both JD and MBA degrees from New York University. While attending college, Kushner reportedly made millions of dollars through real estate transactions.
The New York Observer
In 2006, Jared Kushner paid $10 million for the New York Observer. According to reports, Jared’s father helped coordinate the deal as a birthday gift. The long-struggling New York Observer became profitable once more under Kushner’s leadership.
In 2016, it was claimed that website traffic had increased by about 600% over the preceding three years. Jared Kushner left the New York Observer in 2017 to pursue a political career in the administration of Donald Trump.
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Political Profession
Jared Kushner began his political career when Donald Trump began to consider running for government seriously. Jared was one of the most active campaign managers when Trump’s campaign was in full stride.
Kushner contributed significantly to Trump’s digital presence. Kushner was awarded a high-level security clearance and continues to play a significant role in the administration after Trump’s victory. Eventually, he was awarded the position of President’s Senior Advisor.
Kushner Companies
The Kushner Companies, Jared’s family firm, owns and operates over $7 billion worth of real estate properties around the country.
In 2007, Jared managed the acquisition of 666 Fifth Avenue, a moderately-sized New York City office skyscraper. In an effort to seal the purchase in the face of competition from other investors, he paid an “unconventional” price of $1.8 billion, overpaying.
However, he only contributed $50 million in equity and had to borrow $1.75 billion from lenders. To maintain the building’s loan-to-value (LTV) ratio, these lenders asked that Jared quadruple the property’s rental income.
Jared was only 26 years old when he oversaw this transaction, shortly after assuming control of the family firm. Due to his father’s conviction for tax evasion, witness tampering, and other felonies, he acquired a position of leadership inside the corporation.
In 2005, when Charles Kushner was sent to federal prison, Jared assumed leadership and handled numerous new initiatives, including the acquisition of 666 Fifth Avenue.
The acquisition was part of a far larger expansion into New York City, and Jared oversaw the expenditure of approximately $7 billion on real estate transactions during his first decade as CEO.
The building proved to be an enormous burden, and Kushner Cos. lost $90 million on its investment during the 2008 real estate meltdown. With his father’s urging, Jared began selling off ownership holdings in the building.
In 2017, Jared surrendered his own ownership position and helped organize a $1 billion bailout transaction with Brookfield Asset Management, a corporation owned by the Qatari government.
It was reported in 2019 that Kushner Cos. had recently acquired a portfolio of apartments for $1.15 billion. The rental buildings represented the largest acquisition by Kushner Companies in over a decade.
What is Jared Kushner’s Net Worth?
American real estate entrepreneur Jared Kushner has a net worth of $800 million. Jared Kushner is well-known for his ties to the administration of President Donald Trump and his marriage to Ivanka Trump.
Jared was well-known in the real estate industry prior to increasing media exposure following Trump’s election victory.
Cadre
It was reported in 2020 that Jared Kushner was selling his share in Cadre, a real estate startup. The real estate company focuses on taking advantage of President Trump’s 2017 tax credit.
Due to the tight friendship between Jared and Donald, his involvement with Cadre raised numerous eyebrows, with some claiming a possible conflict of interest. This was likely one of the motivations for Kushner’s sale of his Cadre stock for between $25 and $50 million.
Jared made $1.5 million in income from Westminster Management, a corporation that owns 20,000 apartment units in New York, Maryland, New Jersey, Pennsylvania, and Ohio, between April 2017 and June 2018.
Beneficiary Endowment
The financial statement submitted by Jared in April 2017 revealed that he and Ivanka are the beneficiaries of a $740 million real estate and investment business trust.
A June 2018 filing somewhat reduced the amount to $710 million.
Relationships
Jared Kushner married Ivanka Trump in 2009. They were married in a Jewish ceremony, and Ivanka converted to Judaism afterward.
Within the span of their relationship, they have produced three children.
Collection of Art
Reportedly, Ivanka and Jared own an art collection valued at over $25 million. According to sources, the couple like to acquire works from young, emerging artists.
Ivanka Trump Assets
As part of a financial disclosure agreement in 2018, Ivanka Trump, wife of Jared Kushner, revealed assets of $55 million.
Additionally, she reported an annual income of $135 million in 2018. Upon leaving the Trump Organization after her father’s inauguration, Melania earned a $2 million severance payout.