The family business · Second term · № 54
Bloomberg reports Gulf states pay Kushner's firm tens of millions a year while he serves as Trump envoy
“My volunteer work for the President has focused on delivering for America, irrespective of any business or personal relationship, and my commitment to that duty is unwavering” Jared Kushner
- Date
- , Emailed statement to Bloomberg News
- Subject
- Saudi Arabia
- Benefit
- Investments and funds
- Government
- Saudi Arabia
- Beneficiary
- Jared Kushner (Affinity Partners)
- Amount
- tens of millions of dollars a year in fees (as reported by Bloomberg)
- Topic
- Ethics & conflicts
- Era
- Second term
What happened
Bloomberg reported on May 14, 2026 that Affinity Partners manages billions of dollars for Qatar, Saudi Arabia and the United Arab Emirates, which have agreed to pay the firm tens of millions of dollars in fees annually, according to people familiar with the matter, while Jared Kushner serves as a volunteer envoy for Trump in negotiations on Gaza, Ukraine and Iran. Bloomberg reported that Kushner handed day-to-day management to deputies and that Affinity had been in talks to raise more money from Saudi Arabia's Public Investment Fund but reversed course as he stayed on as envoy. Senator Ron Wyden and Representative Robert Garcia wrote to the White House and Affinity on March 19, 2026, and Representative Jamie Raskin opened a House Judiciary Democratic investigation on April 17, 2026, stating that Affinity had about $6.16 billion in assets with 99% of its funding from foreign nationals. White House Counsel David Warrington said Kushner is acting as a private citizen and is not subject to disclosure requirements, and spokeswoman Anna Kelly said his diplomacy has "nothing to do with his private businesses." Bloomberg reported that Kushner did not meet an April 30 deadline to provide records to Democrats.
Sources
- Kushner disappoints Mideast clients who spent millions seeking sway
- Wyden, Garcia Investigate Kushner Raising Billions from Middle East Governments While Negotiating U.S. Foreign Policy
- Ranking Member Raskin Opens Sweeping Investigation into "U.S. Special Envoy for Peace" Jared Kushner's Foreign Entanglements and Staggering Conflicts of Interest
- Kushner's Affinity blurs the lines between politics and Gulf capital
- Saudi Arabia: Freedom in the World 2026 Country Report