The following article by Eric Levitz was posted on the New York Magazine site July 10, 2017:
Jared Kushner has no experience in public service or policymaking. His only qualification for his senior White House position (beyond having been born and betrothed to the right people) is the business savvy that allowed him to avoid squandering his family’s enormous fortune (for the moment, anyway).
In 2007, Kushner’s killer instinct told him that the real-estate market had nowhere to go but up. And so the 26-year-old mogul decided to plow $500 million of his family’s money — and $1.3 billion in borrowed capital — into purchasing 666 Fifth Avenue for twice the price it had previously sold for. Even if we’d somehow avoided a global financial crisis, this would have been a bad bet: Before the crash, when the building was almost fully occupied, it generated only about two-thirds of the revenue the Kushners needed to keep up with their debt payments. Continue reading “Kushner Sought $500 Million Bailout From Top Qatari Investor: Report”