Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Jared Kushner's $2 Billion Investment From Saudi Arabia: What To Know After Republicans Delay Subpoena
TOPLINE Republicans on Wednesday delayed Democrats' efforts to subpoena Jared Kushner over a $2 billion investment his private equity firm received from Saudi Arabia's sovereign wealth fund shortly after his father-in-law Donald Trump left office in 2021—here's what we know about the payment.
(snip)
Affinity Partners has since invested in fintech company Mosaic, which provides loans for solar panel installation, acquired 15% of Israeli car company Shlomo Group last September, and invested $500 million into building luxury resorts in the Balkans—including a hotel in a section of Belgrade that was bombed by NATO in the 1990s and a beach resort on an Albanian island.
Around the same time, the Public Investment fund also invested about $1 billion in Liberty Strategic Capital, the private equity firm set up by former Treasury Secretary Steve Mnuchin after Trump left office—but on less generous terms, the New York Times reported.
House Democrats motioned to subpoena Kushner with questions about the Saudi deal at an almost eight-hour hearing of the House Oversight Committee on Hunter Biden’s business deals and possible influence peddling on Wednesday. Democrats on the Oversight Committee instead turned their attention to Kushner, and noted that Chair Rep. James Comer, R-Ky., previously promised to address the Saudi deal when they discussed influence peddling. Rep. Greg Casar, D-Texas, asked Comer if the House could “expect to subpoena Mr. Kushner’s correspondence with the Saudi government, or his firm’s financial records, or financial transactions between Mr. Kushner and his father-in-law,” but the chairman did not answer the question directly. Comer did not state if he would take further steps on Kushner, but said in the future the committee will “take up all the people who have been accused of influence peddling, and we’ll try to determine if Jared Kushner has a real business—we haven’t been able to find a real business that the Bidens have had yet.” Casar noted that Hunter Biden had years of boardroom experience before he was hired at energy firms under investigation, but Kushner “had no experience in private equity, in fact he was so inexperienced that Saudi officials tried to block the transfer of the money until the crown prince overruled them.” After Casar’s questions, Raskin motioned to issue a subpoena to Kushner—but Rep. Jim Jordan, R-Ohio, immediately moved to table the subpoena, which was seconded by Comer and other Republicans.
(snip)
https://www.forbes.com/sites/zacharyfolk/2024/03/21/jared-kushners-2-billion-investment-from-saudi-arabia-what-to-know-after-republicans-delay-subpoena/?sh=2e0d520766f1
