Jared Kushner

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Jared Kushner
Jared Kushner cropped.jpg
Kushner in 2008
Born Jared Corey Kushner
(1981-01-10) January 10, 1981 (age 35)
Residence New York City, New York, U.S.
Nationality American
Education The Frisch School
Alma mater Harvard University
New York University
Occupation Real estate developer, newspaper publisher, investor
Known for Co-owner of Kushner Properties
Owner of The New York Observer
Height 6 ft 3 in (1.91 m)
Political party Republican[citation needed]
Religion Orthodox Judaism[1]
Spouse(s) Ivanka Trump (2009–present)
Children 3
Parent(s) Seryl Stadtmauer
Charles Kushner
Relatives Joshua Kushner (brother)
Nicole Kushner (sister)
Dara Kushner (sister)
Charles Kushner (father)
Donald Trump (father-in-law)
Ivana Trump (mother-in-law)
Donald Trump Jr. (brother-in-law)
Eric Trump (brother-in-law)
Tiffany Trump (half sister-in-law)
Barron Trump (half brother-in-law)
Melania Trump (stepmother-in-law)
Murray Kushner (uncle)
Marc Kushner (cousin)

Jared Corey Kushner (born January 10, 1981) is an American businessman and investor. He is principal owner of the real estate holding and development company Kushner Properties and the newspaper publishing company the New York Observer. He is the son of American real estate developer Charles Kushner and is married to Ivanka Trump, the daughter of Donald Trump. He is the de facto campaign manager of Donald Trump's presidential campaign.[2]

From 2007 to 2016, he spent at least $7 billion on New York real estate.[3] In 2007, at the age of 26, he made the most expensive single-building property purchase in US history.[4]

Early life and education[edit]

Kushner is the eldest son of Seryl (born Stadtmauer) and real estate developer Charles Kushner.[5][6] He has a brother, Joshua, who is also a businessman, and two sisters, Nicole and Dara.

Kushner was raised in an Orthodox Jewish family in New Jersey.[1] He graduated from the Frisch School, a private, coed yeshiva high school in Paramus, New Jersey, and from Harvard College in 2003 with an A.B. in sociology. According to journalist Daniel Golden, Kushner and his brother Joshua Kushner were admitted despite modest academic credentials after their father had made a $2.5 million donation to the university,[7][8] with the director of the school's college preparatory program describing Jared Kushner's admission to be "an unusual choice for Harvard to make" given that he was "not anywhere near the top of his class."[9][10]

In 2007, Kushner graduated from the New York University where he earned his J.D. degree and his M.B.A. degree;[11] He interned at Manhattan District Attorney Robert Morgenthau's office.[12]

Business career[edit]

Newspaper publishing[edit]

In July 2006, at age 25, Kushner purchased The New York Observer, a weekly New York City newspaper, for $10 million,[13] using money he says he earned during his college years by closing deals on residential buildings in Cambridge, Massachusetts, with family members providing the backing for his investments.[14]

Since purchasing The Observer, he has pushed for changes to increase sales and moved towards a tabloid format.[15] Kushner has been credited with increasing the Observer's online presence and expanding the Observer Media Group.[16][17] In December 2011, The New York Post reported that the Observer expected to become profitable for the first time.[18] According to Vanity Fair, under Kushner, the "Observer has lost virtually all of its cultural currency among New York’s elite, but the paper is now profitable and reporting traffic growth... [it] boasts 6 million unique visitors per month, up from 1.3 million in January 2013."[19]

Real estate[edit]

Kushner purchased 666 Fifth Avenue in 2007 for $1.8 billion, the most expensive single property purchase in US history at the time.[20]

Kushner is an active real estate investor and has increased the Kushner Companies presence in the New York City real estate market as a principal in his family's real estate company.[21] Kushner's father, Charles, was arrested on charges of tax evasion, illegal campaign donations and witness tampering in 2004 and was eventually convicted of the above-mentioned charges.[22] Jared assumed the role of CEO in 2008.

He is most well known for purchasing the office building at 666 Fifth Avenue in 2007, for a then-record price of $1.8 billion. At the age of 26, Kushner had made the most expensive single property purchase in US history.[23] The majority of the transaction took place in less than a week. Kushner said: “In New York, you have to act quickly, or else you get left in the dust. We were just blown away by it, and we really wanted to buy it.”[24]

In 2011, Kushner brought in Vornado Realty Trust as a 50% equity partner in the ownership of the building.[25]

On August 18, 2014, Kushner acquired a three-building apartment portfolio in Middle River, Maryland for $37.9 million with Aion Partners. In 2013–14, Kushner remained an active buyer of multifamily properties in New York, New Jersey and the Baltimore area, and his company acquired more than 11,000 units throughout the three states in this period.[26] In May 2015, he purchased 50.1% of the Times Square Building from Africa Israel Investments Ltd. for $295 million.[27]

Los Angeles Dodgers bid[edit]

In February 2012, he put a bid in to acquire the MLB team the Los Angeles Dodgers.[28] He later withdrew his bid in March 2012.[29]

Political activity[edit]

Between 1991-2006, Kushner was a contributor to the Democratic Party: he contributed over $100,000 to various campaigns in this time period.[30]

Donald Trump presidential campaign[edit]

For the 2016 presidential campaign of his father-in-law Donald Trump, Kushner initially helped as a speechwriter and was tasked with working to establish a plan for Trump's White House transition team should he be elected.[31] He later became more broadly involved in the campaign and was for a time seen as the de facto campaign manager, succeeding Corey Lewandowski, who was fired in part on Kushner's recommendation in June 2016,[32] and succeeded by Paul Manafort.

On July 5th, 2016 Kushner penned an open letter for The Observer in response to a Tweet released by the Trump campaign containing allegedly antisemitic imagery. He was responding to his own paper's editorial by Dana Schwartz criticizing Kushner's involvements with the Trump campaign.[33] In the letter, Kushner noted, "In my opinion, accusations like “racist” and “anti-Semite” are being thrown around with a carelessness that risks rendering these words meaningless."[34]

Personal life[edit]

Kushner married Ivanka Trump, daughter of businessman Donald Trump, in a Jewish ceremony on October 25, 2009.[35][36] Ivanka Trump converted to Modern Orthodox Judaism before marrying Kushner.[37] The couple has three children: daughter Arabella Rose Kushner (born July 2011) and sons Joseph Frederick Kushner (born October 2014) and Theodore James Kushner (born March 2016).

References[edit]

  1. ^ a b "Citizen Kushner". The New York Times. June 24, 2011. Retrieved January 3, 2015. 
  2. ^ http://www.politico.com/story/2016/07/trump-vp-pick-mike-pence-advantages-225616
  3. ^ Meet Trump's new power behind the throne - his son-in-law. Ivanka's husband Jared Kushner is now a key adviser and helped write latest attack on the Clintons By ASSOCIATED PRESS, PUBLISHED: 07:28 GMT, 9 June 2016
  4. ^ Behind the record deal for 666 Fifth Avenue October 22, 2007 By Adam Piore, The Real Deal
  5. ^ Salkin, Allen (March 11, 2007). "The Education of a Publisher". The New York Times, 11 March 2007. Retrieved on 2007-11-29 from http://www.nytimes.com/2007/03/11/fashion/11jared.html?_r=1&oref=slogin.
  6. ^ New York Magazine Company (2009). New York, Volume 42. New York Magazine Company, 2009. Retrieved from https://books.google.com/books?id=tW9BAQAAIAAJ&q=Seryl+Stadtmauer+Kushner&dq=Seryl+Stadtmauer+Kushner&hl=en&sa=X&ei=ErkcUa-NE8TAyAGm5oHIAw&ved=0CC8Q6AEwAw.
  7. ^ Beam, Alex. (September 4, 2006). "Harvard's admissions of gilt". The Boston Globe. Retrieved on 2008-01-07 from http://www.boston.com/news/globe/living/articles/2006/09/04/harvards_admissions_of_gilt/?%20Boston%20Globe%20Article%20Charles%20Kushner%20buys%20Harvard%20admission%20for%20son.
  8. ^ "Harvard, to the Highest Bidder | Opinion | The Harvard Crimson". www.thecrimson.com. Retrieved 2016-01-02. 
  9. ^ Golden, Daniel (2009-01-21). The Price of Admission: How America's Ruling Class Buys Its Way into Elite Colleges--and Who Gets Left Outside the Gates. Crown/Archetype. ISBN 9780307497376. 
  10. ^ "GATECRASHER. GETTING AHEAD THE OLD-SCHOOL WAY ?". NY Daily News. Retrieved 2016-01-02. 
  11. ^ Seelye, Katharine Q. (July 22, 2006). "Developer's Son Negotiating to Buy 'New York Observer'", The New York Times; retrieved November 29, 2007.
  12. ^ Sherman, Gabriel (July 12, 2009). "The Legacy". nymag.com. Retrieved 2015-01-03. 
  13. ^ Seelye, Katharine Q. (July 31, 2006). "Developer’s Son Acquires The New York Observer". The New York Times; retrieved January 8, 2008.
  14. ^ "Kushner Buys NY Observer | News | The Harvard Crimson". www.thecrimson.com. Retrieved 2016-01-02. 
  15. ^ Teodorczuk, Tom (November 9, 2008). "An accidental proprietor". The Guardian (London); retrieved October 21, 2011.
  16. ^ "We've Got the BetaBeat". The New York Observer. March 15, 2011. 
  17. ^ Lauria, Peter (June 15, 2009). "Kushner and Observer Media Group Acquire 80 Percent Stake in Barry Diller's Vary Short List". New York Post. Retrieved December 26, 2014. 
  18. ^ Kelly, Keith J. (December 29, 2011). "Turcotte takes a hike at freebie AM New York". New York Post. 
  19. ^ EXCLUSIVE: HOW JARED KUSHNER BECAME DONALD TRUMP’S MINI-ME BY SARAH ELLISON, JULY 7, 2016, Vanity Fair
  20. ^ Behind the record deal for 666 Fifth Avenue October 22, 2007 By Adam Piore, The Real Deal
  21. ^ "Kushner Quietly Raising His Stake in Manhattan". The New York Sun. Retrieved August 4, 2006. 
  22. ^ Clarke, Katherine (February 1, 2014). "Jared Kushner, the accidental CEO". The Real Deal. Retrieved June 8, 2014. 
  23. ^ Behind the record deal for 666 Fifth Avenue October 22, 2007 By Adam Piore, The Real Deal
  24. ^ Behind the record deal for 666 Fifth Avenue October 22, 2007 By Adam Piore, The Real Deal
  25. ^ "Private equity outfit signs on at 666 Fifth". Crain's New York Business. September 13, 2011. Retrieved October 21, 2011. 
  26. ^ Kevin Litten (August 18, 2014). "Donald Trump's son-in-law buys 3 Middle River apartment complexes". Bizjournal. Retrieved August 20, 2014. 
  27. ^ Adi Ben-Israel,Africa Israel sells Times Square building for $295m, May 14, 2015.
  28. ^ "Jared Kushner trying to buy LA DodgersNews". articles.nydailynews.com. Retrieved October 31, 2012. 
  29. ^ "Jared Kushner withdraws from Dodgers bidding". articles.latimes.com. Retrieved October 31, 2012. 
  30. ^ "Jared Kushner's Federal Campaign Contribution Report". Newsmeat.com. Retrieved October 21, 2011. 
  31. ^ Trump Asks Son-in-Law, Jared Kushner, to Plan for Transition Team Ashley Parker, New York Times
  32. ^ Barbaro, Michael; Mahler, Jonathan (4 July 2016). "Quiet Fixer in Donald Trump’s Campaign: His Son-in-Law, Jared Kushner". New York Times. Retrieved 5 July 2016. 
  33. ^ Keneally, Meghan. "Kushner Defends Father-In-Law Donald Trump After Anti-Semitism Claims". ABC News. Retrieved 6 July 2016. 
  34. ^ Kushner, Jared. "Jared Kushner: The Donald Trump I Know". ABC News. Retrieved 6 July 2016. 
  35. ^ "Ivanka Trump Weds Jared Kushner". The New York Times. October 24, 2009. 
  36. ^ Trump Son-In-Law In Bidding For Dodgers, The Beverly Hills Courier, February 7, 2012
  37. ^ "Report: Tycoon Donald Trump's daughter converting to Judaism". Haaretz. October 30, 2008. 

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