Jared Kushner's firm got $2 billion from Saudi wealth fund run by crown prince, despite board's objections

The Week

Jared Kushner with Donald Trump and Saudi crown prince Jabin Botsford/The Washington Post/Getty Images

The main Saudi wealth fund invested $2 billion in a new private equity firm run by a key supporter of Crown Prince Mohammed bin Salman, six months after he left the White House. Donald Trump's father-in-law was a senior White House adviser.

The four members of the screening committee, which included the heads of Saudi Aramco, the Saudi Central Bank, and the Saudi Industrial Development Fund, voted against investing in the fund.

The screening committee endorsed the fund's $1 billion investment with Steven Mnuchin's new Liberty Strategic Capital at the same time. All sectors that fit Saudi priorities are included in Mnuchin's fund, which is focused on cybersecurity, financial technology, and entertainment.

The Saudi investment with Kushner, who has little experience or track record in private equity, is also more generous than the smaller investment with Mnuchin, a successful investor before joining the Trump administration, the Times notes.

Ethics experts say that such a deal creates the appearance of potential payback for Mr. Kushner, or a bid for future favor if Mr. Trump wins another presidential term. After the killing and dismemberment of a Saudi journalist, the United States intelligence agencies concluded that he had approved the killing of Crown Prince Mohammed.

The New York Times has more about the Saudis and their investments.

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