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.
Education The Frisch School
Alma mater Harvard University (A.B.)
New York University (J.D.)
Occupation Real estate developer, newspaper publisher, investor
Known for Co-owner of Kushner Properties
Owner of The New York Observer
Religion Judaism
Spouse(s) Ivanka Trump (2009–present)
Children 2
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)

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 American real estate and entertainment mogul Donald Trump.

Early life and education[edit]

Kushner is the eldest son of Seryl (née Stadtmauer) and real estate developer Charles Kushner.[1][2] He has a brother, Joshua, who is also a businessman, and two sisters, Nicole and Dara. His father has an estimated net worth of $500 million.[3]

He was raised in a Jewish family in New Jersey.[4] 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 his father had made a $2.5 million donation to the university,[5][6] with the Director of the school's college preparatory program describing his admission to be "an unusual choice for Harvard to make" given that he was "not anywhere near the top of his class."[7][8]

In 2007, he graduated from the New York University School of Law where he earned his JD degree;[9] his father donated $3 million to the university in 2001.[8] He interned at Manhattan District Attorney Robert Morgenthau's office.[10]

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,[11] 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.[12]

Since purchasing The Observer, he has pushed for changes to increase sales and created a new focus for the paper, [clarification needed] moving towards a tabloid format.[13] Kushner has been credited with increasing the Observer's online presence and expanding the Observer Media Group.[14][15] In December 2011, The New York Post reported that the Observer expected to become profitable for the first time.[16]

Real estate[edit]

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.[17] 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.[18] He assumed the role of CEO in 2008.

The company's flagship acquisition was the office building at 666 Fifth Avenue in 2007, for a then-record price of $1.8 billion. In 2011, the building's mortgage was restructured in conjunction with Kushner's bringing in Vornado Realty Trust as a 50% equity partner.[19]

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.[20] In May 2015, he purchased 50.1% of the Times Square Building from Africa Israel Investments Ltd. for $295 million.[21]

LA Dodgers bid[edit]

In February 2012, he put a bid in to acquire the MLB team LA Dodgers.[22] He later withdrew his bid in March 2012.[23]

Political activity[edit]

Kushner is a contributor to the Democratic Party. He has contributed over $100,000 to various campaigns between 1992 and 2006.[24]

Personal life[edit]

Kushner married Ivanka Trump, daughter of businessman Donald Trump, in a Jewish ceremony on October 25, 2009.[25][26] Ivanka Trump converted to Judaism before marrying Kushner.[27] The couple have two children. On September 24, 2015, Ivanka announced she is expecting the couple's third child.

References[edit]

  1. ^ Salkin, Allen (March 11, 2007). "The Education of a Publisher". The New York Times; retrieved November 29, 2007.
  2. ^ [1]
  3. ^ "50 Wealthiest New Jerseyans". Insurance News Net. Retrieved 2016-01-02. 
  4. ^ "Citizen Kushner". The New York Times. June 24, 2011. Retrieved January 3, 2015. 
  5. ^ Beam, Alex. (September 4, 2006). "Harvard's admissions of gilt". The Boston Globe; retrieved January 7, 2008.
  6. ^ "Harvard, to the Highest Bidder | Opinion | The Harvard Crimson". www.thecrimson.com. Retrieved 2016-01-02. 
  7. ^ 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. 
  8. ^ a b "GATECRASHER. GETTING AHEAD THE OLD-SCHOOL WAY ?". NY Daily News. Retrieved 2016-01-02. 
  9. ^ Seelye, Katharine Q. (July 22, 2006). "Developer's Son Negotiating to Buy 'New York Observer'", The New York Times; retrieved November 29, 2007.
  10. ^ Sherman, Gabriel (July 12, 2009). "The Legacy". nymag.com. Retrieved January 3, 2015. 
  11. ^ Seelye, Katharine Q. (July 31, 2006). "Developer’s Son Acquires The New York Observer". The New York Times; retrieved January 8, 2008.
  12. ^ "Kushner Buys NY Observer | News | The Harvard Crimson". www.thecrimson.com. Retrieved 2016-01-02. 
  13. ^ Teodorczuk, Tom (November 9, 2008). "An accidental proprietor". The Guardian (London); retrieved October 21, 2011.
  14. ^ "We've Got the BetaBeat". The New York Observer. March 15, 2011. 
  15. ^ 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. 
  16. ^ Kelly, Keith J. (December 29, 2011). "Turcotte takes a hike at freebie AM New York". New York Post. 
  17. ^ "Kushner Quietly Raising His Stake in Manhattan". The New York Sun. Retrieved August 4, 2006. 
  18. ^ Clarke, Katherine (February 1, 2014). "Jared Kushner, the accidental CEO". The Real Deal. Retrieved June 8, 2014. 
  19. ^ "Private equity outfit signs on at 666 Fifth". Crain's New York Business. September 13, 2011. Retrieved October 21, 2011. 
  20. ^ Kevin Litten (August 18, 2014). "Donald Trump's son-in-law buys 3 Middle River apartment complexes". Bizjournal. Retrieved August 20, 2014. 
  21. ^ Adi Ben-Israel,Africa Israel sells Times Square building for $295m, May 14, 2015.
  22. ^ "Jared Kushner trying to buy LA DodgersNews". articles.nydailynews.com. Retrieved October 31, 2012. 
  23. ^ "Jared Kushner withdraws from Dodgers bidding". articles.latimes.com. Retrieved October 31, 2012. 
  24. ^ "Jared Kushner's Federal Campaign Contribution Report". Newsmeat.com. Retrieved October 21, 2011. 
  25. ^ "Ivanka Trump Weds Jared Kushner". The New York Times. October 24, 2009. 
  26. ^ Trump Son-In-Law In Bidding For Dodgers, The Beverly Hills Courier, February 7, 2012
  27. ^ "Report: Tycoon Donald Trump's daughter converting to Judaism". Haaretz. October 30, 2008. 

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