Kushner Got Up To $3M From Companies That Benefited From Trump Admin Programs
According to The Daily Beast, federal disclosure documents obtained by a government watchdog group show that Jared Kushner, a senior White House adviser and son-in-law of the president, “raked in as much as $3 million from projects benefiting from Trump administration initiatives in 2019, plus up to $1 million more in rent money from firms which later received COVID-related small business loans from the government.”
- Documents released by Citizens for Responsibility and Ethics in Washington “show that the Kushner windfall includes revenues from a Jersey Shore luxury development that benefited from a real estate tax break publicly pushed by First Daughter Ivanka Trump—Kushner’s wife—in 2017.”
- The documents reveal that Kushner reported earning “$100,001 to $1 million off an entity called Gellert 80 West End LLC, plus $100,001 to $1 million from Pier Village Hotel III JV, LLC, and $343,000 from PV Bungalow LLC and what appears to be its bar.”
- The Daily Beast noted that the companies “are pieces of Kushner Companies’ sprawling Pier Village project in Long Branch, New Jersey, which Bloomberg Businessweek profiled in 2018 for its receipt of fiscal relief through the Opportunity Zones program.”
The news outlet also noted that Ivanka Trump, the president’s daughter and Kushner’s wife, “was a vocal proponent of this program during the negotiations over the controversial Tax Cuts and Jobs Act, which has been the administration’s biggest achievement in office.
"Ivanka Trump advocated for the Opportunity Zones program while her husband was profiting from it, representing a clear conflict of interest,” CREW communications director Jordan Libowitz told The Daily Beast. “The program seems to have been made to be easily exploitable by the rich and well connected, starting with those related to the president.”
Kushner also benefited from the government’s Paycheck Protection Program amid the coronavirus pandemic, albeit indirectly.
Kushner reported $100,001 to $1 million in “rent or royalties” from Vreeland Avenue Associates, which the disclosure shows to be a wholly controlled affiliate of Thirty Vreeland Associates. The latter owns an office complex in Florham Park, New Jersey, that houses the headquarters of his family real estate firm.
Six tenants of that building received low-interest loans ranging from $150,000 to $2 million this year via the Paycheck Protection Program, the administration and Congress’s bailout of businesses amid the COVID-19-induced economic collapse.
The Daily Beast reported that neither the White House nor Kushner companies provided an immediate comment.