We did it! We found evidence that a U.S. President and his son-in-law received funds from a foreign government as a reward for lenient policymaking, but House Republicans won’t do anything about it.
On April 14, 2023, Donald J. Trump filed his personal financial disclosure documents, which revealed his reported income for deals he made with the Saudi-backed company LIV golf. In 2022, Donald Trump used two Trump golf courses to hold tournaments for LIV: One in the Trump National Golf Club in Doral and the other at the Trump National Golf Course in Bedminster. Trump’s disclosure also reveals he is the main beneficiary of the profits made at both courses, the ownership trail leads back to the Donald J. Trump Revocable Trust, his personal money bag that he can dip into whenever he wants. Trump’s disclosure claimed the “golf related revenue” totaled over $10,000,000 in value, but the true value of the deal could be more than that. Former PGA officials have claimed that it typically costs $2-3 million to host the tournament, not including additional expenses, but a golf writer who attended the Bedminster event claimed to have heard Trump could have been paid as high as $4.5 million.
Court documents surrounding LIV have shown the Saudi Public Investment Fund (PIF) is the majority owner of the company. It was also uncovered that PIF covers 100% of the costs related to LIV golf events, such as the tournaments hosted on Trump properties. The deal between the two parties occurred a year after Trump left office and Saudi Arabia had recently been in the hot seat following a U.S. State Department report that outlined the country’s history of human rights abuses. The nature of the deal appears to be ‘business as usual’ between the two parties. Trump built a legacy of leniency when it came to Saudi Arabia. Trump used presidential powers to clear obstacles for the country, which led to billions in arms deals and contracts, and shielded them from any accountability regarding the murder of Jamal Khashoggi or their brutality in Yemen.
Now, Trump has even gone on to urge professional golf players to join LIV golf and “take the money” or else. In 2023, LIV announced an additional tournament on top of the two from 2022. On May 26th, Trump National Golf Course in Washington DC will host a LIV golf tournament, another course listed in Trump’s personal financial disclosure. In a single year, Trump is slated to receive as much as $15 million from golf tournaments fully funded by the Saudi government, and not a word from House Republicans.
On February 12th, the Washington Post released a report on Jared Kushner’s ties to the Saudi Royal Family. The day after Kushner left the White House, he created a company that went on to become a private equity firm with $2 billion in funds from a wealth fund chaired by Crown Prince Mohamed Bin Salman. Kushner attempted to keep the disclosure of those funds hidden.
Various records show Kushner pushed for Saudi Arabia to be a priority during his time in the White House, which resulted in assertions from Donald Trump that he felt the Saudi Prince “owed” him. Lawmakers have expressed concern about this behavior, Chair of the Senate Finance Committee, Senator Ron Wyden, stated the financial links between the Saudi royal family and the Trump family “raise very serious issues.” Even members of Saudi’s Public Investment Fund expressed concern for giving Jared Kushner such a large amount of funds to handle given his lack of experience in private equity.
Kushner’s company is slated to earn $25 million annually from management fees and a share of the profits. Kushner has touted his White House experience as a selling point for his business. Kushner’s fund has also raised an additional $500 million bringing the total funds to nearly $3 billion. Hundreds of millions have come from the United Arab Emirates and Qatar, the latter of which Kushner bailed out of a blockade during his time in office.
Amid all this, Rep. Comer refuses to sound the alarm and is impeding investigation into this glaring conflict of interest. Comer has continued to circle around Hunter Biden’s Chinese energy company deals, which would have totaled less than one half of 1% when compared to the deals being made by Jared Kushner. Comer has killed further investigation into Trump’s finances and the influence authoritarian governments may have bought after spending extravagantly on Trump properties while he was in office.
President Trump Disclosed Millions In Income From The Saudi Government, And He Plans To Do It Again Since No One Will Stop Him
RECENT TRUMP FINANCIAL DISCLOSURE SHOWS THAT HE RECEIVED MILLIONS FROM GOLF COURSES THAT HELD TOURNAMENTS FUNDED BY THE SAUDI GOVERNMENT
According To Donald Trump’s Personal Financial Disclosure, He Disclosed Over $10,000,000 In Golf Related Revenue In Locations That Have Hosted LIV Golf Tournaments.
[Donald J. Trump, Personal Financial Disclosure, filed 4/14/23]
Trump’s DJT Holdings Is The Primary Owner Of LFB Acquisition LLC – The Paper Trail Appears To Have Been Purposefully Obfuscated To Disguise The Owner Of Trump’s Bedminster Golf Course
The Day Before Being Sworn Into Office, Donald Trump Made Changes To the Membership Interest Of Lamington Farm Club LLC, Which Does Business As The Trump Bedminster Golf Course – Trump’s Changes Created A Web Of Corporations That Led To DJT Holdings Receiving The Vast Majority Of The Funds. “One day before he was sworn into office as the as the most powerful man in the free world, President Donald Trump made changes to the ownership at his Bedminster golf course. On Jan. 19, 2017, ‘a change occurred’ in the membership interest of Lamington Farm Club, LLC, which does business as Trump National Golf Club – Bedminster, according to a public legal notice published in the Courier News around the time of the changes. […] The changes made to the ownership at Trump National create a web of corporations and limited liability companies, some with similar sounding names. […] The breakdown of ownership, according to the legal notice, is as follows: LFB Acquisition LLC, a Delaware limited liability company, is a member and owner of 100 percent of Lamington Farm Club, LLC. DJT Holdings LLC, a Delaware limited liability company, is a member and owner of 99 percent of LFB Acquisition LLC. LFB Acquisition Member Corp., a Delaware corporation, is the managing member and owner of one percent of LFB Acquisition LLC. DJT Holdings Managing Member LLC, a Delaware limited liability company, is a member and owner of 100 percent of LFB Acquisition Member Corp. and a member and owner of one percent of DJT Holdings LLC. The Donald J. Trump Revocable Trust dated April 7, 2014, is a member and owner of 99 percent of DJT Holdings LLC and a member and owner of 100 percent of DJT Holdings Managing Member LLC.” [My Central Jersey, 1/19/18]
It Is Well Reported On, That Donald Trump Hides Behind Several LLC’s That Inevitably Lead Back To The Donald J. Trump Revocable Trust
According To Donald Trump’s Personal Financial Disclosure, He Listed DJT Holdings LLC As Being Primarily Owned By The Donald J. Trump Revocable Trust. [Donald J. Trump, Personal Financial Disclosure, filed 4/14/23]
2017: Donald Trump Placed His Eldest Son, And Allen Weisselberg As Trustees Of The Donald J. Trump Revocable Trust – Trump Would Receive Reports On Any Profit Or Loss And Could Revoke His Decision At Any Time. “While the president says he has walked away from the day-to-day operations of his business, two people close to him are the named [Donald J. Trump Revocable Trust] trustees and have broad legal authority over his assets: his eldest son, Donald Jr., and Allen H. Weisselberg, the Trump Organization’s chief financial officer. Mr. Trump, who will receive reports on any profit, or loss, on his company as a whole, can revoke their authority at any time.” [New York Times, 2/3/17]
ProPublica: “Trump Lawyer Confirms President Can Pull Money From His Businesses Whenever He Wants” [ProPublica, 4/4/17]
- Changes To Donald Trump’s Trust Document Stipulated That It, “Shall Distribute Net Income Or Principal To Donald J. Trump At His Request’” And Whenever His Son Or Attorney “Deem Appropriate.” “The previously unreported changes to a trust document, signed on Feb. 10, stipulates that it ‘shall distribute net income or principal to Donald J. Trump at his request’ or whenever his son and longtime attorney ‘deem appropriate.’ That can include everything from profits to the underlying assets, such as the businesses themselves.” [ProPublica, 4/4/17]
Washington Post: “Trump Can Quietly Draw Money From Trust Whenever He Wants, New Documents Show” [Washington Post, 4/3/17]
- Legal Experts Claimed Trump Was “Still The Beneficiary Of All These Assets.” “’He’s still the beneficiary of all these assets. He is still entitled to the income and the profits of the trust if he wants them,’ said Beth Shapiro Kaufman, the president of law firm Caplin & Drysdale, who reviewed the trust document. ‘Has he put these things out of his control and out of his personal benefit? The answer is no.’” [Washington Post, 4/3/17]
A YEAR AFTER HIS PRESIDENCY, TRUMP BEGAN HOSTING SAUDI FUNDED GOLF TOURNAMENTS AND STARTED PLANNING DEVELOPMENTS IN OMAN
A Year After His Presidency, Donald Trump Began Hosting Golf Tournaments Backed By Saudi Funds And Secured An Agreement With A Saudi Real Estate Company That Planned To Build A Trump Hotel As Part Of A $4 Billion Golf Resort In Oman. “A year after his presidency, Trump’s golf courses began hosting tournaments for the Saudi fund-backed LIV Golf. Separately, the former president’s family company, the Trump Organization, secured an agreement with a Saudi real estate company that plans to build a Trump hotel as part of a $4 billion golf resort in Oman.” [Washington Post, 2/12/23]
Eric Trump Praised LIV And Claimed It Was “Doing Incredible Things” And “And It Should Be No Surprise That We Were Asked To Host These Amazing Events.” “Eric Trump, Trump’s son who is also the executive vice president of the Trump Organization, said in a statement that ‘LIV is doing incredible things for the game of golf and it should be no surprise that we were asked to host these amazing events.’ Trump has also previously said he did tens of millions of dollars of business with Saudis before becoming president.” [Washington Post, 2/12/23]
IN 2022, TRUMP HELD TWO LIV TOURNAMENTS, ONE IN MIAMI AND ONE IN BEDMINSTER – TRUMP PARTICIPATED IN AN EVENT HIMSELF, AND IT IS ESTIMATED HE MADE MILLIONS
10/27/22: Trump Played In The LIV Tournament Pro-Am Event. “Former President Donald Trump will play in the Pro-Am — closed to the public — on Oct. 27.” [Palm Beach Post, 10/24/22]
HEADLINE: “Here’s How LIV Golf’s $50 Million Season-Ending Team Event At Miami’s Trump National Doral Will Work.” [Palm Beach Post, 10/24/22]
- LIV’S Final Event Included A $50 Million Grand Prize. “LIV’s final event will be held Oct. 28-30, a three-day extravaganza on the Blue Monster that will determine the series’ season-long team champion and include a $50 million purse, double the prize money for each of the first seven events. The winning team will split $16 million and all 12 teams receive prize money.” [Palm Beach Post, 10/24/22]
LIV Held An Event On July 29th 2022 At The Trump National Golf Club In Bedminster.
[Trump Golf, accessed 4/19/23]
Former PGA President, Ted Bishop, Claimed That Major Golf Tournaments Pay $2-3 Million To Play On A Course, Not Including Other Revenue Such As Merchandise, Food, Beverage, And Sponsorships. “Ted Bishop, a former PGA president, said in an interview that a major tournament typically pays $2 million to $3 million to play on a course, not counting other revenue such as sponsorships, merchandise, and food and beverage.” [Washington Post, 2/12/23]
Golf Writer, Alan Shipnuck, Claimed The Numbers On How Much Trump Got Paid To Host The Bedminster Golf Tournament Were Unclear But Ranged Between $2.8 Million – $4.5 Million Depending On Who Was Asked. “According to longtime golf writer Alan Shipnuck, the numbers are a bit murky when it comes to just how much Trump was paid to host this past weekend’s event. ‘Trump Bedminster was paid $2.8 million (according to the Trump Organization) or $4.5 million (according to club members),’ Shipnuck wrote in his recap of the event. But whatever Trump is being paid, it clearly has already been worth it to the people doing the paying.” [Business Insider, 8/2/22]
TRUMP HAS URGED GOLF PLAYERS TO “TAKE THE MONEY” AND JOIN LIV GOLF AND WARNED OF CONSEQUENCES TO THOSE THAT DIDN’T
Former President Donald Trump Urged Players To “Take The Money” And Join The LIV Golf Invitational Series, And Warned Those That Stayed With PGA Would Pay A Bigger Price For Staying Put. “July 19 (Reuters) – Former U.S. President Donald Trump has urged players to ‘take the money’ and join the LIV Golf Invitational Series, suggesting that those who remain loyal to the PGA Tour will ultimately pay a bigger price for staying put.” [Reuters, 7/19/22]
Trump Wrote On Truth Social That Golfers Who Remained With PGA Would Pay A Big Price, Said There Would Be An “Inevitable” Merger With LIV. “‘All of those golfers that remain ‘loyal’ to the very disloyal PGA, in all of its different forms, will pay a big price when the inevitable MERGER with LIV comes, and you get nothing but a big ‘thank you’ from PGA officials who are making Millions of Dollars a year,” Trump wrote this week on the social medial platform Truth Social. ‘If you don’t take the money now, you will get nothing after the merger takes place, and only say how smart the original signees were.’” [Reuters, 7/19/22]
LIV IS ALMOST ENTIRELY OWNED BY THE SAUDI WEALTH FUND – THE FUND COVERS 100 % OF COSTS ASSOCIATED WITH EVENTS
Court Hearing Documents Revealed The Saudi Public Investment Fund Owned 93% Of LIV And Paid 100% Of Costs Associated With Events. “That control is indisputable: in a January 13 hearing it was revealed that the [Saudi Public Investment] Fund owns 93 percent of LIV and pays 100 percent of the costs associated with its events, rendering laughable any defense that it’s a mere bystander to the antitrust litigation.” [Golf Week, USA Today, 1/14/23]
- The Saudi Public Investment Fund Covers 100 Percent Of Tournament Costs – Trump Held Two Tournaments In Trump Properties In 2022. “Starting last year, LIV Golf hosted two tournaments at Trump properties, with recent court proceedings revealing that the Public Investment Fund covers 100 percent of tournament costs, according to coverage of the case.” [Washington Post, 2/12/23]
Critics Of LIV Golf Have Called It A Saudi Funded Effort At “Sportswashing” To Divert Attention From The Killing Of Jamal Khashoggi And The Saudi Government’s Human Rights Record. “Critics of LIV Golf have called the Saudi funding an effort at “sportswashing,” meant to divert attention from the killing of Khashoggi and its record on human rights. “I think the vast majority of golf fans oppose LIV Golf because it is a moral question,” Bishop said.” [Washington Post, 2/12/23]
The Saudi Investment In The Trump Family Came After A U.S. State Department Report Came Out Citing Saudi Arabia’s Human Rights Abuses
The Saudi’s Investment In The Trump Family Came As The U.S. State Department Said In A 2021 Report That “Significant Human Rights Issues” Occurred In Saudi Arabia, Citing Credible Reports Of Torture And Executions For Non-Violent Crimes. “The investments by the Saudis came as the U.S. State Department said in a 2021 report that there continued to be ‘significant human rights issues’ in Saudi Arabia, citing ‘credible reports’ of torture and executions for nonviolent offenses.” [Washington Post, 2/12/23]
TRUMP USED HIS PRESIDENTIAL POWERS TO APPEASE SAUDI ARABIA, OPENLY FAVORING AND CLEARING ROADBLOCKS FOR THEM
Trump Admitted He “Saved” Crown Prince Mohamed Bin Salman In The Wake Of The CIA’s Findings Regarding The Murder Of Jamal Khashoggi. “They also underscore the crucial nature of Trump’s admission that he ‘saved’ Mohammed in the wake of the CIA’s finding that the crown prince ordered the killing or capture of Post contributing opinion columnist Jamal Khashoggi.” [Washington Post, 2/12/23]
- According To Reporting By Bob Woodward, Trump Claimed He “Saved His Ass” In Reference To Mohamed Bin Salman’s Involvement With The Murder Of Jamal Khashoggi – According To Mike Pompeo’s Book, President Trump Told Him “Tell Him He Owes Us.” “The next month, the CIA concluded that Mohammed had ‘approved an operation’ to kill or capture Khashoggi, which the prince denied. Mohammed’s years-long effort to rise to power was in grave danger. But, as Trump later put it in a recorded interview, ‘I saved his ass,’ according to ‘The Trump Tapes’ by Post associate editor Bob Woodward. Trump refused to endorse the CIA’s conclusion, equivocated about Mohammed’s involvement, opposed releasing of the report and vetoed a congressional bill to block arms sales to the kingdom. The president sent Mike Pompeo, who had replaced Tillerson as secretary of state, to meet with the prince and remind him of his debt. ‘My Mike, go and have a good time. Tell him he owes us,’ Pompeo recalled in his 2023 memoir, ‘Never Give An Inch.’ Pompeo did not respond to a request for comment.” [Washington Post, 2/12/23]
Trump Picked Riyadh For His First Presidential Trip Abroad, Which The Saudis Welcomed With Open Arms And Announcements Of An Arms Deal. “In May 2017, Trump picks Riyadh for his first trip abroad since entering office, an unprecedented move for a newly elected president. The Saudis give him a regal welcome, awarding Trump a medal, announcing plans for arms and business deals and inviting the president to take part in a traditional sword dance.” [NBC News, 7/25/19]
Trump Ensured Billions In Arms Went To Saudi Arabia, While Shielding Them From Accountability For War Crimes And Human Rights Violations In Yemen
Trump Vetoed Congressional Resolutions Aimed At Blocking His Administration From Selling Billions Of Dollars Of Weapons To Saudi Arabia. “President Donald Trump on Wednesday vetoed a trio of congressional resolutions aimed at blocking his administration from selling billions of dollars of weapons to Saudi Arabia and the United Arab Emirates.” [Associated Press, 7/25/19]
The Trump Administration Notified Congress In 2017 That It Would Resume Sales Of Precision-Guided Bombs To Saudi Arabia That Were Suspended By The Obama Administration Due To The Civilian Deaths Caused From Saudi-Led Airstrikes In Yemen. “The Trump administration notifies Congress in June 2017 that it plans to resume sales of precision-guided bombs to Saudi Arabia that were suspended by Obama over concerns about civilian deaths from Saudi-led coalition airstrikes in Yemen.” [NBC News, 7/25/19]
The Trump Administration Threatened To Veto A Resolution Drafted By Britain To Demand Accountability For War Crimes In Yemen And For Saudi Arabia To Provide Unfettered Access To Food And Medicine To Yemeni Ports. “In December 2018, the Trump administration threatens to veto a resolution drafted by Britain demanding accountability for war crimes in the Yemen conflict and for Saudi Arabia and other states to ensure unfettered access for shipments of food and medicine to ports in Yemen. A resolution with watered-down language is eventually adopted.” [NBC News, 7/25/19]
Trump Vetoed A Resolution That Sought To End U.S. Involvement In The Saudi-Led War In Yemen. “President Donald Trump has vetoed a congressional resolution that sought to end U.S. involvement in the Saudi-led war in Yemen, the White House said on Tuesday.” [Reuters, 4/16/19]
LAWMAKERS AND EXPERTS EXPRESSED CONCERNS ABOUT TRUMP’S TIES TO SAUDI ARABIA
Lawmakers Have Expressed Concern That Trump And Kushner’s Business Ties Could Leave Them Beholden To The Crown Prince If They Return To The White House. “Democrats who have launched congressional investigations into Trump’s and Kushner’s ties to Saudi Arabia said there is no precedent for how the two have relied so significantly on Saudi investments in their businesses after directly helping Mohammed while in office. The lawmakers expressed concern that such business ties could leave them beholden to the crown prince if they return to the White House.” [Washington Post, 2/12/23]
Chair Of The Senate Finance Committee, Senator Ron Wyden, Stated The Financial Links Between The Saudi Royal Family And The Trump Family “Raise Very Serious Issues.” “’The financial links between the Saudi royal family and the Trump family raise very serious issues,’ said Sen. Ron Wyden (D-Ore.), who chairs the Senate Finance Committee and for several years has been investigating various ties between the Saudis, Trump and Kushner, ‘and when you factor in Jared Kushner’s financial interests, you are looking right at the cat’s cradle of financial entanglements.’” [Washington Post, 2/12/23]
IN 2023, TRUMP WILL HOST THREE MORE LIV GOLF TOURNAMENTS, INCLUDING ONE IN WASHINGTON D.C.
2023: LIV Golf Announced It Would Host Three Tournaments On Trump Properties In Washington DC, Bedminster, And Doral. “LIV Golf said Monday it will host tournaments at the Trump National Golf Club in Washington, D.C.; Trump National Golf Club Bedminster, in Bedminster, New Jersey; and the Trump National Doral in Miami, Florida.” [CBS News, 1/30/23]
- On May 26th, 2023, The Trump National Golf Club Washington DC Will Host A LIV Golf Tournament. [DC, Events, Liv Golf, accessed 4/19/23]
- On August 11th, 2023, The Trump National Golf Club Bedminster Will Host A LIV Golf Tournament. [DC, Events, Liv Golf, accessed 4/19/23]
- On October 20th, 2023, The Trump National Doral Golf Course Will Host A LIV Golf Tournament. [Miami, Events, Liv Golf, accessed 4/19/23]
TRUMP COULD EARN MILLIONS FROM THE THREE GOLF COURSES HOSTING THE GOLF TOURNAMENTS
According To Donald Trump’s Personal Financial Disclosure, DJT Holdings Will Receive 100% Of The Income From Golf Related Revenue Of The Three Courses Liv Will Be Playing At – Valued At Over $15 Million.
[Donald J. Trump, Personal Financial Disclosure, filed 4/14/23]
Golf Writer, Alan Shipnuck, Claimed The Numbers On How Much Trump Got Paid To Host The Bedminster Golf Tournament Were Unclear But Ranged Between $2.8 Million – $4.5 Million Depending On Who Was Asked. “According to longtime golf writer Alan Shipnuck, the numbers are a bit murky when it comes to just how much Trump was paid to host this past weekend’s event. ‘Trump Bedminster was paid $2.8 million (according to the Trump Organization) or $4.5 million (according to club members),’ Shipnuck wrote in his recap of the event. But whatever Trump is being paid, it clearly has already been worth it to the people doing the paying.” [Business Insider, 8/2/22]
Former White House Trump Advisor, Jared Kushner Has His Hands On Billions Of Foreign Funds, But No Investigation In Sight
THE DAY AFTER LEAVING THE WHITE HOUSE, JARED KUSHNER CREATED A COMPANY THAT WENT ON TO RECEIVE OVER $2 BILLION IN SAUDI PRIVATE EQUITY FUNDS
HEADLINE: “After Helping Prince’s Rise, Trump And Kushner Benefit From Saudi Funds.” [Washington Post, 2/12/23]
The Day After Leaving The White House, Kushner Created A Private Equity Firm That Later Got $2 Billion From A Sovereign Wealth Fund Chaired By Crown Prince Mohamed Bin Salman – Kushner’s Firm Structured The Funds In A Way That Did Not Require Disclosure. “The day after leaving the White House, Kushner created a company that he transformed months later into a private equity firm with $2 billion from a sovereign wealth fund chaired by Saudi Crown Prince Mohammed bin Salman. Kushner’s firm structured those funds in such a way that it did not have to disclose the source, according to previously unreported details of Securities and Exchange Commission forms reviewed by The Washington Post. His business used a commonly employed strategy that allows many equity firms to avoid transparency about funding sources, experts said.” [Washington Post, 2/12/23]
February 2023: Kushner Reportedly Raised Another $500 Million For His Company Bringing The Total To Nearly $3 Billion, The Source For That Additional Money Has Not Been Identified. “Trump is slated to hold three more LIV tournaments on his properties this year. And Kushner reportedly has raised at least another $500 million for his company from international investors since he filed the SEC form last year, bringing the total to around $3 billion. He has not identified the source of that additional money.” [Washington Post 2/12/23]
Records Show Kushner Pushed Trump To Prioritize Saudi Arabia During The Trump Presidency
Reporting Shows Kushner Persuaded Former President Trump To Prioritize Saudi Arabia While In Office And A Former Secretary Of State Asserted In His Book That Trump Believed The Saudi Crown Prince “Owed” Him. “New details about their relationship have emerged in recently published memoirs, as well as accounts in congressional testimony and interviews by The Post with former senior White House officials. Those revelations include Kushner’s written account of persuading Trump to prioritize Saudi Arabia over the objections of top advisers and a former secretary of state’s assertion in a book that Trump believed the prince ‘owed’ him.” [Washington Post, 2/12/23]
KUSHNER’S COMPANY WILL MAKE OVER $25 MILLION ANNUALLY FROM HIS DEAL WITH SAUDI ARABIA
Kushner’s Company Stands To Receive $25 Million Annually In Management Fees And A Share Of The Profits – Kushner Has Touted His White House Experience As A Selling Point For His Business. “Kushner’s company stands to receive a $25 million management fee annually from the Saudi investment plus a share of the profits. Kushner has made his work with Mohammed while in the White House a selling point for his business. In a presentation to investors, first reported by the Intercept, Kushner notes his work ‘managing Middle East peace efforts’ and specifically cites the result of his Jan. 5, 2021, meeting with Mohammed, saying they had discussed lifting the Qatar blockade.” [Washington Post 2/12/23]
- Four Members Of A Five-Person Panel On The Saudi Public Investment Fund Were Not In Favor Of Kushner Receiving $2 Billion Due To His Lack Of Experience In Private Equity. “Kushner has not said when he first sought $2 billion from the Saudi’s Public Investment Fund. The four members of a five-person panel of the fund’s advisers who attended a meeting about the matter were ‘not in favor’ of the investment, citing Kushner’s inexperience in private equity and the fact that the Saudis would bear most of the risk, the New York Times reported, citing confidential minutes of the panel’s meeting in June 2021 that have not been made public.” [Washington Post 2/12/23]
JARED KUSHNER’S PRIVATE EQUITY FIRM ALSO RECEIVED HUNDREDS OF MILLIONS FROM QATAR AND THE UNITED ARAB EMIRATES
Wealth Funds In The United Arab Emirates And Qatar Invested Hundreds Of Millions With Jared Kushner’s Private Equity Firm. “Wealth funds in the United Arab Emirates and Qatar have invested hundreds of millions of dollars with Jared Kushner’s private equity firm, according to people with knowledge of the transactions, joining Saudi Arabia in backing the venture launched by former President Donald J. Trump’s son-in-law as he left the White House.” [New York Times, 3/30/23]
- According To Sources Familiar With The Deal, The UAE Invested More Than $200 Million In Kushner’s Firm – A Qatari Entity Invested A Similar Amount. “The Emiratis invested more than $200 million with Mr. Kushner’s firm, Affinity Partners, two people told about the transactions said. The U.A.E.’s embassy in Washington declined to comment. A Qatari entity invested a similar sum, according to two people with knowledge of that deal. A spokesman for the Qatari embassy in Washington declined to comment.” [New York Times, 3/30/23]
- Previously, Qatari Officials Feared Retribution From Kushner If They Turned Down An Invitation To Invest And Trump Returned To Power. “The Times previously reported that Qatari officials feared they would face unfavorable treatment if they turned down Mr. Kushner’s invitation to invest and Mr. Trump returned to power.” [New York Times, 3/30/23]
During The Trump Presidency, A Qatar-Linked Company Previously Bailed Kushner Out Of His Debt-Ridden 666th Fifth Avenue Tour
During The Trump Presidency, A Qatar-Linked Company Bailed Kushner Out Of His Debt-Ridden, 666 Fifth Avenue, Tower. “A Qatar-linked company helped bail out the Kushners’ debt-ridden tower in midtown Manhattan, 666 Fifth Avenue, during the Trump presidency.” [New York Times, 3/30/23]
DURING TRUMP’S PRESIDENCY, KUSHNER HELPED LIFT ECONOMIC BLOCKADES ON QATAR
During The Final Days Of The Trump Presidency, Kushner Helped Lift Economic And Diplomatic Blockades On Qatar – The Blockade Efforts Had Been Led By Saudi Arabia. “During the final days of the Trump presidency, he played a role in discussions that helped lift an economic and diplomatic blockade of Qatar by its neighbors. The blockade, led by Saudi Arabia, had been imposed in 2017 at a time when Mr. Kushner was cultivating a relationship with Saudi Prince Mohammed bin Salman — who was about to become next in line to the throne in the kingdom.” [New York Times, 3/30/23]
Kushner Is Not The Only Senior Trump Official To Have Investment Firms Backed By Sovereign Wealth Funds In The Gulf
Both Jared Kushner And Steve Mnuchin Have Investment Firms Backed By Sovereign Wealth Funds In The Gulf. “Mr. Kushner is not the only former Trump administration official to benefit from connections in the Middle East since Mr. Trump’s term ended. Steven T. Mnuchin, the former Treasury secretary, also runs an investment firm with backing from sovereign wealth funds in the Gulf. On Thursday, both he and Mr. Kushner appeared at an investment conference in Miami Beach sponsored by a nonprofit led by the governor of Saudi Arabia’s Public Investment Fund, Yasir al-Rumayyan.” [New York Times, 3/30/23]
Comer Has Refused To Sound The Alarm When It Comes To Jared Kushner Or Donald Trump – Meanwhile They Will Continue To Line Their Pockets
THE FUNDS COMER SAYS HUNTER BIDEN MADE FROM CHINESE ENERGY DEALS ARE A TINY FRACTION OF WHAT IS CURRENTLY BEING HANDLED BY JARED KUSHNER AND HIS FIRM
Washington Post Column: “Comer Sounds Alarm About Presidential Family Members Not Named Kushner.” [Philip Bump, Washington Post, 4/11/23]
A Comparison Of Hunter Biden’s Reported Chinese Energy Deals Show They Would Be Less Than 5% Of What Kushner’s Private Firm Received And Less Than One Half Of 1% Of The $2 Billion Saudi Fund Investment He Received. “Now we come back to Trump and Kushner. If Hunter Biden and his business associates made two deals with Chinese energy concerns totaling less than $10 million, that’s less than 5 percent of what Kushner’s firm got from one of the newly reported agreements. It’s one half of 1 percent of the $2 billion a Saudi fund decided to invest with Kushner.” [Philip Bump, Washington Post, 4/11/23]
IN ADDITION, COMER HAS KILLED FURTHER INVESTIGATION INTO TRUMP’S FINANCES AND TIES TO AUTHORITARIAN GOVERNMENT MONEY
New York Times: “House Republicans Quietly Halt Inquiry Into Trump’s Finances” [New York Times, 3/13/23]
- NYT: Rep. James Comer Made It Clear He Abandoned Any Investigation Into The Former President’s Financial Dealings. “Representative James R. Comer, Republican of Kentucky and the chairman of the Oversight and Accountability Committee, made clear he had abandoned any investigation into the former president’s financial dealings — professing ignorance about the inquiry Democrats opened when they controlled the House — and was instead focusing on whether President Biden and members of his family were involved in an influence-peddling scheme.” [New York Times, 3/13/23]
- Democrats Accused Comer Of Coordinating With Trump Lawyers To Kill The Investigation Into Trump’s Finances. “[Comer] confirmed the end to the inquiry into Mr. Trump after Democrats wrote to Mr. Comer raising concerns about the fact that Mazars, the former president’s longtime accounting firm that cut ties with him last year, had stopped turning over documents related to his financial dealings. The top Democrat on the panel suggested that Mr. Comer had worked with Mr. Trump’s lawyers to effectively kill the investigation, an accusation the chairman denied.” [New York Times, 3/13/23]
Washington Post: “Comer Stymies Probe Into Trump Tax Records, House Democrats Say” [Washington Post, 3/13/23]
- The Material Provided To The Oversight Committee Showed Authoritarian Governments Spending Extravagantly At Trump Properties While Trump Was President. “The material provided to the committee before Republicans took control of the House in January included documents showing authoritarian governments spending lavishly at Trump-owned properties while Trump was president.” [Washington Post, 3/13/23]
Forbes: “House GOP Calls Off Trump Financial Probe That Revealed Foreign Spending At His Hotel” [Forbes, 3/13/23
Washington Post’s Philip Bump Said That Comer’s Biggest Revelation Has Been That Hunter Biden And His Partners Made A Deal With A Chinese Energy Company, Which Was Reported On In March 2022 And No Evidence Has Pointed To Money Going To Joe Biden. “Despite his delineation in November of nine federal crimes for which he claimed his committee had evidence, Comer’s biggest revelation as chairman is that Hunter Biden and his business partners received money as part of a business deal made with a Chinese energy company after Joe Biden’s tenure as vice president ended in 2017. It has been known for some time that Hunter Biden and Joe Biden’s brother James were involved in deals with Chinese interests; The Washington Post reported on one agreement in March 2022. What hasn’t been shown — despite insinuations from Comer and his allies — is that money went to Joe Biden.” [Philip Bump, Washington Post, 4/11/23]
Washington Post’s Philip Bump Said Under Comer’s Leadership Document Production On How Foreign Actors Spent Money With The Trump Organization Ended. “And: House Oversight was handed documents showing how foreign actors spent money with the Trump Organization as they sought to influence Trump’s administration, while he was in office. But under Comer’s leadership, that document production ended. If the Qataris or other foreign interests were worried about the political fallout of cutting deals with Kushner or the Trump Organization, Comer’s open lack of interest in probing the former president and his family would not seem to be a disincentive.” [Philip Bump, Washington Post, 4/11/23]