'What was Jared doing?': MSNBC panel stunned by sources of Kushner's $3.1 billion cash haul
On Monday morning, MSNBC economic analyst Steve Rattner stunned the "Morning Joe" panel with a chart that showed how much money Donald Trump's son-in-law Jared Kushner swiftly amassed for his hedge fund within six months after leaving the White House.
More importantly, there were questions raised about the sources of Kushner's $3.1 billion windfall.
During the segment, Rattner displayed a chart that showed a slim one percent coming from U.S. investors with a massive percentage coming from Middle Eastern interests.
According to Rattner, those numbers should raise eyebrows as he asked, "What was Jared Kushner doing" when he was ostensibly working for America's interests as an advisor to Donald Trump.
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As Ratner noted, Kushner has zero experience as a hedge funder having only worked in real estate -- and notably not good at that -- before going to work in the White House.
"He worked in the White House and worked very hard, it is less clear what he worked hard at," the analyst began before explaining, "Because after he left the White House, he raised $3.1 billion -- that's billion with a 'b' -- for a private equity fund and he is not a private equity guy, he is a real estate guy. So where does the money come from? We know that he raised $3.1 billion and only about $30 million of it actually came from investors in the United States all the rest of it is foreign money. And of that foreign money, $2 billion came from the Saudis."
"I've been in this business 40 years, I've never seen somebody get two-thirds of their money from a single investor. Usually a single investor might be a few percent of the fund, might be 5 percent, maybe 10 percent -- you never see this," he elaborated. "Another $200 million we believe came from Qatar and another $200 million from the United Arab Emirates and then the $625 million from foreign investors that we don't even know who they are. So what was Jared Kushner doing in the White House? And, by the way as a fun fact, on January 6, the famous January 6, Jared Kushner was in the Middle East."
Panelist Elise Jordan interjected that she has heard, "There is not much out there on how he is executing his funding. He has all this money, but his background is not in private equity and I've seen only one news report of a small European investment. Are the Saudis investing with him just to hedge their bets politically in case Trump comes back into office?"
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