Net worth of Jared Kushner
Jared Kushner real estate
Kushner is a real estate investor, and has increased the Kushner Companies’ presence in the New York City real estate market as a principal in his family’s real estate company. His father, Charles Kushner, was arrested on charges of tax evasion, illegal campaign donations, and witness tampering in 2004, and was eventually convicted on all charges (by the then U.S. Attorney Chris Christie) and sentenced to two years in federal prison.
Kushner Companies purchased the office building at 666 Fifth Avenue in 2007, for a then-record price of $1.8 billion, most of it borrowed. However, following the property crash in 2008, the cash flow generated by the property was insufficient to cover its debt service, and the Kushners were forced to sell the retail portion in the building to Stanley Chera for more than $1 billion and bring in Vornado Realty Trust as a 50% equity partner in the ownership of the building.
He assumed the role of CEO of Kushner Companies in 2008. On August 18, 2014, Kushner acquired a three-building apartment portfolio in Middle River, Maryland, for $37.9 million with Aion Partners. In 2013–14, he and his company acquired more than 11,000 units throughout New York, New Jersey, and the Baltimore area. In May 2015, he purchased 50.1% of the Times Square Building from Africa Israel Investments Ltd. for $295 million.
In 2015, Kushner scored spot No. 25 on Fortune Magazine’s 40 under 40 list ranking the most influential young people in business.
Jared Kushner newspaper publishing
At age 25, Kushner purchased the New York Observer, a weekly New York City newspaper, for $10 million, using money he says he earned during his college years by closing deals on residential buildings in Somerville, Massachusetts, with family members providing the backing for his investments.
After purchasing the Observer, Kushner published it in tabloid format. Since then, he has been credited with increasing the Observer‘s online presence and expanding the Observer Media Group. Very young and with no substantial experience in journalism, Kushner could not establish a good relationship with the newspaper’s veteran editor-in-chief, Peter W. Kaplan. “This guy doesn’t know what he doesn’t know,” Kaplan remarked about Kushner, to colleagues, at the time. As a result of his differences with Kushner, Kaplan quit his position. Kaplan was followed by a series of short-lived successors until Kushner hired Elizabeth Spiers in 2011. In December 2011, the New York Post reported that the Observer expected to become profitable for the first time. Spiers left the newspaper in 2012. In January 2013, Kushner hired a new editor-in-chief, Ken Kurson. Kurson had been a consultant to Republican political candidates in New Jersey and one-time member of Rudy Giuliani‘s unsuccessful 2008 presidential primary campaign.
According to Vanity Fair, under Kushner, the “Observer has lost virtually all of its cultural currency among New York’s elite, but the paper is now profitable and reporting traffic growth … [it] boasts 6 million unique visitors per month, up from 1.3 million in January 2013″. In April 2016, the New York Observer became one of only a handful of newspapers to officially endorse United States presidential candidate Donald Trump in the Republican primary, but the paper ended the campaign period by choosing not to back any presidential candidate at all.
Kushner stepped down from his newspaper role in January 2017 to pursue a role in President Donald Trump’s administration. He was replaced by his brother-in-law, Joseph Meyer.
Los Angeles Dodgers bid
In January 2017, it was announced that Ivanka and her husband had purchased a home in the Kalorama neighborhood of Washington, DC. It was reported in the first quarter of 2017 that Ivanka and her husband had assets estimated up to $740 million.
As of 31 March 2017 Ivanka and her husband have combined assets of $740 million net worth.