Kushner in 2008
|Born||Jared Corey Kushner
January 10, 1981
Livingston, New Jersey, United States
|Residence||Manhattan, New York|
Harvard University (B.A., 2003)
New York University (J.D./M.B.A.)
|Known for||Co-owner of Kushner Companies
Owner of the New York Observer
|Spouse(s)||Ivanka Trump (m. 2009)|
|Parent(s)||Charles Kushner (father)
Seryl (Stadtmauer) Kushner (mother)
|Relatives||Joshua Kushner (brother)
Donald Trump (father-in-law)
Ivana Trump (mother-in-law)
Jared Corey Kushner (born January 10, 1981) is an American businessman, investor and political operative. 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 among the top advisors of Donald Trump's presidential campaign.
From 2007 to 2016, he spent at least $7 billion on New York real estate. In 2007, at age 26, he made the most expensive single-building property purchase in US history. In 2011, Kushner brought in Vornado Realty Trust as a 50% equity partner in the ownership of the building.
Early life and education
Kushner was raised in an Orthodox Jewish family in New Jersey. He graduated from the Frisch School, a private, coed yeshiva high school in Paramus, New Jersey, and from Harvard University 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, 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." At Harvard, Kushner was a member of the Fly Club and bought and sold buildings in Somerville, Massachusetts as a hobby.
In 2007, Kushner graduated from New York University where he earned his J.D. degree and his M.B.A. degree; His father had previously made a $3 million donation to NYU in 2001. He interned at Manhattan District Attorney Robert Morgenthau's office.
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. 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. 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, most of it borrowed. At the age of 26, Kushner had made the most expensive single property purchase in US history. 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.” However, by 2008 the cash flow generated by the property was insufficient to cover its debt service, and the Kushners were forced to sell its retail space. In 2011, Kushner brought in Vornado Realty Trust as a 50% equity partner in the ownership of the building.
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. In May 2015, he purchased 50.1% of the Times Square Building from Africa Israel Investments Ltd. for $295 million.
In July 2006, at age 25, Kushner purchased the New York Observer, a weekly New York City newspaper, for $10 million, 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.
Since purchasing the Observer, he has pushed for changes to increase sales and moved towards a tabloid format. Kushner has been credited with increasing the Observer's online presence and expanding the Observer Media Group. In December 2011, The New York Post reported that the Observer expected to become profitable for the first time. 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."
Los Angeles Dodgers bid
Donald Trump presidential campaign
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. 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, and succeeded by Paul Manafort. Nonetheless, he has remained intimately involved with campaign strategy, coordinating Trump's visit in late August to Mexico.
On July 5, 2016 Kushner penned an open letter in the New York 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. 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."
Kushner married Ivanka Trump, daughter of businessman Donald Trump, in a Jewish ceremony on October 25, 2009. Ivanka Trump converted to Modern Orthodox Judaism before marrying Kushner. The couple have three children.
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