$2B from Saudi?

[IGoToDU]

Hello all—please forgive if I’ve posted this in the wrong spot (?) and if I somehow missed an update on this? What about that exorbitant “gift” ? Has *anyone* been talking about it? Can someone please educate me? Could it be used by TSF to make bond? Who has it and where is it and what is it (going to be) used for? What are the strings attached to it? Has or is anyone investigated/investigating it? If yes, who, and where can this be read? If not, why??? I feel really curious. Thank you. Love, IGoToDU

[leftieNanner]

1. The $2 Billion from the Saudis

Was not a gift, but supposedly a deposit in Jared's new investment company.

Doesn't mean MBS couldn't write Donny a big check too.

[Celerity]

2. they did not give Kushner 2 billion USD outright, they invested it with his firm, he gets a 1.25% asset mamgement fee

plus a cut of any profits

https://www.nytimes.com/2022/04/10/us/jared-kushner-saudi-investment-fund.html

snip

Both Mr. Kushner’s and Mr. Mnuchin’s funds treated the Saudi fund as a “cornerstone” investor, the Public Investment Fund documents say, offering the Saudis a discount on the standard 2 percent asset management fee for private equity firms as well as a cut of the firm’s 20 percent share of any fund profits, known as carried interest.

But the Saudis agreed to pay Mr. Mnuchin’s firm only a 1 percent asset management fee, compared to 1.25 percent for Mr. Kushner’s, the documents indicate. On a $2 billion investment, that would pay his firm $25 million a year, not including a share of any profits earned by the Affinity fund.