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Jared Kushner Divests From Startup Cadre Over Future Conflict Concerns
Source: Bloomberg
February 28, 2020, 1:16 PM MST Updated on February 28, 2020, 1:34 PM MST
Jared Kushner has divested from Cadre, the real estate technology startup he cofounded, according to a person familiar with the matter, after the business attracted investment offers that could pose conflicts of interest for the White House aide.
Kushner, who is President Donald Trump’s son-in-law as well as one of his senior advisers, transferred his interest in Cadre to a trust that sold his shares back to the company. He recently listed his stake in federal disclosures as being worth between $25 million and $50 million, and the sale price was in that range, according to the person.
His brother, the venture capitalist Josh Kushner, maintains a stake in Cadre through Thrive Capital, his venture investment company.
The sale follows a Bloomberg investigation showing that SoftBank, the Japanese investment company, wanted Kushner to divest during talks about a potential investment in 2018. He didn’t, and the talks fizzled.
Kushner, who is President Donald Trump’s son-in-law as well as one of his senior advisers, transferred his interest in Cadre to a trust that sold his shares back to the company. He recently listed his stake in federal disclosures as being worth between $25 million and $50 million, and the sale price was in that range, according to the person.
His brother, the venture capitalist Josh Kushner, maintains a stake in Cadre through Thrive Capital, his venture investment company.
The sale follows a Bloomberg investigation showing that SoftBank, the Japanese investment company, wanted Kushner to divest during talks about a potential investment in 2018. He didn’t, and the talks fizzled.
More at link: https://www.bloomberg.com/news/articles/2020-02-28/kushner-divests-from-startup-firm-cadre-over-conflict-concerns