After selling his stake in a company that invested in Opportunity Zones that offered the tax breaks he pushed, President Trump's son-in-law and top adviser, Jared Kushner, cashed in to the tune of between $25 million to $50 million, according to a report from the Associated Press. The move has sparked criticism from some who say Kushner used his position in the White House for profit.
"A filing at the Office of Government Ethics released Monday shows that Kushner received permission to defer capital gains taxes on the sale of his stake in Cadre, a digital platform for smaller investors in commercial properties," the AP reports. "Kushner's holding in the private Cadre was worth between $25 million and $50 million, according to a financial disclosure report he filed with federal ethics officials last year."
As the AP points out, Kushner and his wife, Ivanka Trump, pushed for the Opportunity Zone tax breaks to be included in President Trump's 2017 tax overhaul. When Kushner joined the Trump administration in 2016, he relinquished his role as CEO of Kushner Cos. and gave up his management positions at Cadre.
Read the full report over at the Associated Press.