Jared Kushner Net Worth 2017
How rich is Jared Kushner? He has an estimated net worth of $240.0 million in 2017. A large amount of his wealth is due to real estate investments and from owning a media publication.
Kushner is married to Ivanka Trump (President Donald Trump’s daughter) and is presently serving in the Trump administration as a senior advisor. The couple’s combined net worth is estimated to be as high as $740.0 million.
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How Did Jared Kushner Accumulate His Wealth?
Kushner is a successful entrepreneur, with business ventures in real estate and the media space. At one time, he was the CEO of Kushner Companies, a family-owned business that is a real estate holding and development company. He is also the owner and former publisher of New York Observer.
Charles Kushner (R) walks to the U.S. District Courthouse with his wife (Credit: Chris Hondros/Staff/Getty Images)
Kushner is also the co-founder of—and owns a stake in—Cadre (now known as RealCadre LLC), which is an online platform for real estate investing. The FinTech company provides individual and institutional investors with direct access to large commercial real estate properties.
The business model allows investors to participate in real estate investing with a smaller amount of capital than they would normally need. It is similar to how the stock market works, but rather with investments in real estate properties instead of in companies’ stocks. Presently, the company manages more than $1.0 billion in assets.
What Led Jared Kushner to Become a Successful Entrepreneur?
Jared Kushner was born in 1981 to a wealthy family in New Jersey. Jared’s father, Charles, gained his wealth through real estate, and is the owner of Kushner Companies. Today, Charles Kushner’s wealth is north of a billion dollars. The business was started by Charles’s father Joseph (Jared’s grandfather). At one point, the company was collecting rental checks from over 4,000 apartment units.
Kushner family name is displayed on advertising at the One Journal Square project (Credit: Spencer Platt/Staff/Getty Images)
Jared Kushner could have easily not worked a day in his life, but his parents decided to not spoil him with money. Instead, they taught him to understand the value of a dollar. Kushner’s parents encouraged him to get educated, which he did; he completed studies at Harvard University in 2003, earning a bachelor of arts degree in government. Four years later, he graduated with a Juris Doctor (JD) degree and a masters of business administration (M.B.A.) from New York University.
Then he went to intern at the law firm Paul, Weiss, Rifkind, Wharton & Garrison LLP.
Right before he completed his law and MBA degrees, Kushner purchased New York Observer. At the time of the purchase, the publication was losing money and was a paper-based news source. Kushner transformed the print media publication into a digital-only news source and turned it into a profitable company.
A year after completing his studies at New York University (and a year before a recession hit), he became the CEO of Kushner Companies. At the time, Kushner was only 26 years old.
Before he took on the role of CEO, Kushner was already active in the company. He had a hand in closing a deal for the purchase of 666 Fifth Avenue, which, at the time was the most expensive purchase of real estate in Manhattan. During and after the recession, Kushner continued to purchase more apartment units in the New York, New Jersey, and Baltimore areas. (Source: “The unusual appraisal behind Kushner’s record deal for 666 Fifth, ” The Real Deal, September 20, 2017.)
After coming out of the recession and making Kushner Companies stronger, Kushner looked for his next business venture. In 2014, he partnered with Josh Kushner (his brother) and Ryan Williams to created Cadre. In the financing rounds, Cadre received capital from billionaire investor George Soros, Goldman Sachs Group Inc (NYSE:GS), and the large venture capital funds Breyer Capital and Khosla Ventures.
After Kushner’s father-in-law, Donald Trump, become the president-elect, Kushner stepped down from all of his corporate positions. This included stepping down from being the CEO of Kushner Companies, the publisher for New York Observer, and his position at Cadre (RealCadre).
Days before Trump officially became the 45th president, Kushner was named a senior advisor, partly due to him being part of the family and partly for managing Trump’s successful election campaign, managing his social media network, and writing his speeches.
How Much Does Jared Kushner Make?
Since Kushner was already a very wealthy individual, and his father-in-law is the president of the United States, he has agreed to earn no income from his advisor role in the government. Rather than receiving a salary, he is gaining experience while working in the Trump administration in a different field than that of his previous work experiences.
Kushner has an assistant, whom he had the opportunity to hand-pick: Avi Berkowitz. Kushner looks at Berkowitz as his protégé, and Berkowitz is one of the highest paid assistants in the Trump administration, with an annual salary of $115,000. In comparison, the assistant of former White House Chief Strategist Stephen K. Bannon earned a salary of $40,000. The situation could be seen as, part of what would have been paid to Kushner for his advisor role is paid instead to his assistant. (Source: “White House releases salary info for Trump’s aides,” Politico, June 30, 2017.)
Future of Ivanka Trump’s Husband’s Net Worth
Jared Kushner and Ivanka Trump with their children (Credit: Pool/Pool/Getty Images)
Now the question “How much is Jared Kushner worth?” has been answered. In the future, his net worth will be affected by his business interests in RealCadre, New York Observer, and his family business, Kushner Companies. Also, since his wife, Ivanka Trump, has her own business interest, the combined net worth of the two could see further increases over time. This would be mostly due to them owning real estate in their portfolios, which is an inflation-protected investment.
