Oh brother, where art thou?
While Jared Kushner grabs most of the headlines, it’s his younger brother Josh who’s been amassing a major personal fortune — to the tune of $3.7 billion, according to Bloomberg.
That sum makes him far wealthier than Jared as well as Jared’s father-in-law, former President Donald Trump, the outlet reported.
Josh got a big boost from a $175 million stake sale in his venture firm, Thrive Capital, from a who’s who of investors including Disney CEO Bob Iger, Indian tycoon Mukesh Ambani and KKR co-founder Henry Kravis. Thrive, which Josh co-founded in 2009, made early investments in a number of tech giants, including Spotify, Stripe and Instagram.
The Kushner brothers also co-founded real estate investment platform Cadre with Blackstone alumnus Ryan Williams.
The investment in Thrive values the firm at $5.3 billion, according to Bloomberg.
“A lot of these folks have been involved in my life for quite a bit of time,” Kushner, who is married to model Karlie Kloss, said to the Wall Street Journal about the investor group. “Now they actually have a vested stake in the firm’s success.”
Jared Kushner and his wife, Ivanka Trump, disclosed assets of between $206 million and $800 million, according to the New York Post. Donald Trump, meanwhile, is reportedly worth somewhere in the neighborhood of $2.5 billion.
Jared Kushner also has his own fund, Affinity Partners, which he founded in 2021, and promptly secured a controversial $2 billion investment from the Saudi sovereign wealth fund, the New York Times reported. The Saudi fund went ahead with its investment despite objections from a panel that vets such deals.
— Ted Glanzer