Politics

Jared Kushner Divests From Real Estate Investment Company He Started In 2014

NATIONAL HARBOR, MD - FEBRUARY 28: Jared Kushner, senior advisor to U.S. President Donald Trump, speaks at the Conservative Political Action Conference 2020 (CPAC) hosted by the American Conservative Union on February 28, 2020 in National Harbor, MD. (Photo by Samuel Corum/Getty Images)

Photo by Samuel Corum/Getty Images)

Christian Datoc Senior White House Correspondent
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Jared Kushner, Special Advisor and son-in-law to President Donald Trump, has divested his shares in Cadre, the real estate investment company he co-founded in 2014.

Kushner transferred his shares, reported by Bloomberg News Friday to be valued between $25 and $50 million, to a blind trust which then sold it back to Cadre.

The sale comes after a November 2019 investigation uncovered that the Japanese investment fund SoftBank sought to acquire Cadre back in 2018. Kushner refused SoftBank’s buyout offer, which eventually scuttled the acquisition, over fears selling his shares to a foreign firm would give the appearance of leveraging a White House position to enrich himself, persons familiar with the sale tell Daily Caller. (RELATED: Kushner Spearheads Trump’s Israel-Palestinian Peace Deal Proposal)

WASHINGTON, DC - JANUARY 29: (L-R) Senior Advisor Jared Kushner looks on as U.S. President Donald Trump speaks before signing the United States-Mexico-Canada Trade Agreement (USMCA) during a ceremony on the South Lawn of the White House on January 29, 2020 in Washington, DC. The new U.S.-Mexico-Canada Agreement (USMCA) will replace the 25-year-old North American Free Trade Agreement (NAFTA) with provisions aimed at strengthening the U.S. auto manufacturing industry, improving labor standards enforcement and increasing market access for American dairy farmers. The USMCA signing is considered one of President Trump's biggest legislative achievements since Democrats took control of the House in 2018. (Photo by Drew Angerer/Getty Images)

(Photo by Drew Angerer/Getty Images)

One source added that selling just as Trump’s re-election campaign kicks into full gear shows that Kushner fully intends to remain in the White House as long as Trump does.

Though Trump has received some criticism for not totally divesting himself from his various business ventures, Kushner’s lawyer Abbe Lowell told Bloomberg he has divested his assets “when appropriate.”

“When Cadre, with which Mr. Kushner has not been involved for over 3 years, decided to pursue opportunities that could unknowingly to Mr. Kushner become future conflicts, he took the guidance of White House Counsel and the Office of Government Ethics and put in place a blind divestment process,” Lowell said. “This is the latest example of how seriously he takes this responsibility.”