https://www.vanityfair.com/news/2022/04/jared-kushner-saudi-arabia-2-billion-investment
On Sunday, The New York Times reported that just six months after leaving the White House, the former first son-in-law’s newly formed private equity firm, Affinity Partners, was awarded a $2 billion investment from Saudi Arabia’s sovereign wealth fund, which is led by MBS. That the kingdom would fork over that kind of cash to Kushner is obviously ridiculously shady and, as Nick Penniman, the founder and chief executive of good-government organization Issue One, told The Times, “swampy and seemingly hypocritical.” But the cash alone is not even the funniest part, and by funniest we mean insanely unethical and wildly corrupt. No, the unethical and corrupt part is that the people who perform due diligence for the Saudis’ Public Investment Fund concluded Kushner’s firm was a joke and that he might make them look bad…and then the board, headed by MBS, gave him the money anyway. Because…y’know.
I saw this article, it is not entirely convincing -
ReplyDeletethe valid point is that due diligence was overridden by the Prince.
However, the mechanism of how the money is invested by Kushner, is simply that Kushner is a shaliach for MBS, hence he will invest eg in real estate or hi tech, maybe even in Israel and perhaps even in the settlements. The equity still belongs to the Saudis. That is, the ikkar is still Arabian, the toifel, the fees go to Kushner, and yes, they are very good fees.