Kushners Highlight Family Ties, Pitch Immigration Visas In China For Big Property Investments
Though Jared Kushner has withdrawn himself from the day-to-day operations of his family's business, Kushner Cos., the senior adviser's role in President Donald Trump's administration may be furthering the success of his family's empire.
During an event at The Ritz-Carlton Hotel in Beijing on Saturday, Kushner's sister, Nicole Meyer, pitched a $150M housing project in Jersey City known as One Journal Square to more than 100 Chinese investors.
During her pitch, Meyer mentioned Kushner's role in the Trump administration, saying the development "means a lot to me and my entire family," the New York Times reports. Critics claim the Kushner family is working to obtain money from overseas investors through the EB-5 visa program by leveraging Kushner's name and close ties to Trump, his father-in-law.
Trump signed the bill to extend the EB-5 program Friday afternoon.
The One Journal Square project, which is scheduled to come online in 2018, consists of two towers, a medical center for pets and 1,476 high-end apartments.
Kushner has divested from several key companies in which he held a stake and from properties owned by Kushner Cos., but the developer still maintains parts of his real estate empire even as he serves as a close confidante to the president.
It was also recently unearthed that Kushner did not disclose ties to powerful investors through his investment in real estate startup Cadre, which allows the wealthy to invest $500K or more into trophy assets as if they were stocks. The senior White House adviser has standing relationships with George Soros, Goldman Sachs and Peter Thiel through this startup.