President Donald Trump’s failson-in-law Jared Kushner may be a high ranking White House employee, but that hasn’t stopped him from reaping the benefits of being an uber-wealthy scion to a deeply sketchy real estate empire. According to a new report, one of the real estate companies Kushner partially owns has been the recipient of nearly $100 million in foreign investments since papa Trump took office.
The Guardian reported on Monday that Cadre, a company Kushner founded and in which he owns a partial stake, received $90 million in foreign investments over the past two years. All the money was funneled to the company by Goldman Sachs through the Cayman Islands, which means the source of the money is anonymous.
Although Kushner stepped down from Cadre’s board when he joined the Trump administration, he kept a significant portion of his ownership stake in the company, which is now estimated to be worth up to $50 million, according to The Guardian. And keep in mind: This has all happened while Jared works not only on the White House’s domestic policies, but while he’s been representing his father-in-law’s administration on the international stage, as well.
In a statement to the newspaper, a Goldman Sachs spokesperson emphasized that “Cadre does not have access to any information about the Goldman Sachs clients who have invested in these vehicles,” while representatives from both the White House and Kushner himself did not respond to The Guardian’s requests for comment.
Still, according to two sources with knowledge of the investment, much of the money pouring into Kushner’s company was funneled through a second Cayman account, while other funds came from Saudi Arabia—with whom Jared has had a uniquely close relationship.
Although the actual mechanics of the investments into Cadre seem completely legal, the fact that foreign entities are able to essentially pour money into Jared’s company—and by extension, his personal bank account—is the sort of thing that raises some serious questions about Kushner’s unbiased ability to act as his father-in-law’s foreign emissary.
Jared’s susceptibility to foreign influence has been a major point of concern for security experts. Earlier this year, news outlets reported that Kushner’s White House security clearance was initially rejected over the fact that his tangle of businesses and foreign investments leave him open to foreign influence. Despite those concerns, President Trump reportedly ordered Jared be given top security clearances anyway.