Monday, February 13, 2023

After helping MBS’s rise, Trump and Kushner benefit from Saudi funds - The Washington Post

As his administration ended, Trump's brand was troubled. His family's hotels, resorts and other properties had lost $120 million in revenue in 2020 thanks to the pandemic and his polarizing presidency. He faced multiple investigations into his business practices and actions seeking to overturn his 2020 defeat; then in December 2022, the Trump Organization was convicted of tax fraud. 

Kushner, meanwhile, faced potential difficulties because of both his association with Trump and his own failings. Kushner's family company had already required a bailout in 2018 from a Canadian firm because of his decision to buy a $1.8 billion office building in New York. An ongoing congressional investigation is looking into whether the bailout was partially financed by Qatar's sovereign wealth fund. Now, despite having no experience running a private equity fund, Kushner was in search of billions of dollars for his new venture. 

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