New disclosure shows growing Kushner wealth and debt

WASHINGTON: Financial disclosure forms released show that White House special adviser – and President Donald Trump’s son-inlaw – Jared Kushner’s wealth and debt both appear to have risen over the year, an indication of the complex state of his finances and the potential conflicts that confront some of his investments.

Disclosures issued by the White House for Kushner and his wife, Trump’s daughter Ivanka, showed that Kushner held assets totaling at least US$181mil (RM722mil). His previous 2017 disclosure had showed assets in at least the US$140mil (RM558mil) range.

Kushner and Ivanka, jointly held at least US$240mil (RM957mil) in assets last year.

The financial disclosures released by the White House and filed with the US Office of Government Ethics routinely show both assets and debts compiled in broad ranges between low and high estimates, making it difficult to precisely chart the rise and fall of the financial portfolios of government officials.

A spokesman for the couple said that the disclosure portrayed both assets and debts that have not changed much over the past year – and stressed that Kushner and Ivanka have both complied with all federal ethics rules.

The disclosure also showed that Kushner has assumed growing debt over the past year, both expanding his use of revolving lines of credit and taking on additional debt of between US$5mil (RM20mil) and US$25mil (RM100mil) as part of his family company’s purchase last year of a New Jersey apartment complex.

Such moves do not mean that Kushner has accumulated that debt, but has the ability to do so.