A real estate company part-owned by Jared Kushner has received $90m in foreign funding from an opaque offshore vehicle since he entered the White House as a senior adviser to his father-in-law Donald Trump. Investment has flowed from overseas to the company, Cadre, while Kushner works as an international envoy for the US, according to corporate filings and interviews. The money came through a vehicle run by
Goldman Sachs in the Cayman Islands, a tax haven that guarantees corporate secrecy.
Kushner, who is married to Trump’s elder daughter Ivanka, kept a stake in Cadre after joining the administration, while selling other assets. His holding is now valued at up to $50m, according to his financial disclosure documents.
Cadre’s foreign funding could create hidden conflicts of interest for Kushner as he performs his work for the US government, according to some ethics experts, who raised concerns over the lack of transparency around the investments. The names of the foreigners investing in Cadre via Goldman Sachs are not disclosed by the companies, which are not required to make the information public. Two sources familiar with the firm said much of the money came to the Cayman Islands vehicle from a second offshore tax haven, while some came from Saudi Arabia.
Kushner was initially denied a security clearance by career officials when he joined Trump’s administration. A whistleblower has told Congress it was blocked due to concerns about Kushner’s outside business interests and “foreign influence”. Kushner was later granted a clearance, allegedly after a Trump appointee intervened.
The White House and Abbe Lowell, an attorney for Kushner, did not respond to questions about the foreign investors and Kushner’s stake in Cadre.
Company part-owned by Jared Kushner got $90m from unknown offshore investors since 2017 | US news | The Guardian
