Jared Kushner's income sources shock economic analyst: 'Never seen this'
A recent analysis showed that only 1% of investments in Jared Kushner's private equity firm came from sources in the United States, reportedly stunning an economic analyst viewing the data.
Trump's son-in-law purportedly took in $2 billion from the Saudis, prompting Steven Rattner to say he's never seen anything like it, according to Salon's report.
"Economic analyst Steven Rattner on Monday shared a pie chart showing that all but 1% of the $3 billion in investments in former President Donald Trump's son-in-law Jared Kushner's private equity firm Affinity Partners came from foreign sources after he 'spent much of his White House tenure cozying up' to Saudi Arabia and Crown Prince Mohamed bin Salman," the outlet reported. "The Saudis invested $2 billion in Kushner's fund while the United Arab Emirates and Qatar each added another $200 million. About $625 million came from other non-U.S. sources while only $31 million came from sources inside the U.S. Rattner told MSNBC that he's 'never seen this' in 40 years in the business."
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Rattner reportedly added:
"I've never seen somebody get two-thirds of their money from a single investor. Usually a single investor might be a few percent of the fund, might be 5 percent, occasionally 10 percent."
The report noted that Rattner said that Kushner has hired some people for his fund, but, "I've seen nothing else about what he's actually done with the money."
He reportedly continued:
"It is normal to invest this money over a period of several years, so I don't think we can draw a firm conclusion yet. But, again, we're going back to a guy who's a real estate guy, and frankly, not a particularly good one at that, who's suddenly got $3 billion trying to do private equity deals competing against people who've been in this business for a long time. And I wouldn't, if I were the Saudis, count on making a lot of money from this any time soon."