In May, Kushner’s family company apologized for using Kushner in pitches to foreign investors, after being caught playing up his connection to the president in China. This brazen conflict of interest was an early example of what many feared about Trump’s presidency: that Trump, his family, and those around him would use the presidency to enrich themselves.
Two months later, people connected to the Kushner family’s business were reportedly still advertising Jared’s role in the government to try to attract investment. And on Thursday, Bloomberg posted a doozy of a story alleging that the company’s angling for foreign capital wasn’t limited to China. The Kushner Company is badly over-leveraged—it owns half of the $1.2 billion dollar mortgage, which is due in 18 months, on a hilariously on-the-nose 666 Fifth Avenue tower. They are desperate for cash and have been criss-crossing the globe for two years to try to get help.
Over the past two years, executives and family members have sought substantial overseas investment from previously undisclosed places: South Korea’s sovereign-wealth fund, France’s richest man, Israeli banks and insurance companies, and exploratory talks with a Saudi developer, according to former and current executives. These were in addition to previously reported attempts to raise money in China and Qatar.
Kushner’s father-in-law has cast him as a Mr. Fix It—a dealmaker in the Trump mold. But 666 Fifth Avenue, which Kushner thought was a slam dunk, is haunting his family. With the clock ticking, it’s also a serious conflict of interest, especially given Kushner’s foreign policy portfolio.