Thee family real estate firm of US President Donald Trump’s senior adviser Jared Kushner filed papers to sell at least $100 million in bonds on the Tel Aviv Stock Exchange, according to a Tuesday report.
Kushner sold his personal stakes in Kushner Cos. in order to join the White House, but the planned sale could raise eyebrows among some who have accused Trump’s son-in-law of overly favoring Israel as he sought to broker a peace agreement between the Jewish state and the Palestinians in addition to normalization agreements between Arab states and Jerusalem.
The deal would mark Kushner Cos.’ entrance into the Israeli bond market, The Wall Street Journal said, pointing out that the firm already owns billions of dollars worth in American properties.
“Kushner is considering the option of issuing bonds on the Tel Aviv Stock Exchange,” a company spokesman told the Journal. “The company has had years of success working with Israeli institutions as both a borrower and a partner.”
Kushner and his father Charles have known Prime Minister Benjamin Netanyahu for decades, and the premier once stayed at their home, sleeping in Jared’s bedroom nearly three decades ago.
Trump last week pardoned Charles Kushner, who pleaded guilty in 2004 to charges including tax evasion and witness tampering and was sentenced to two years in prison.
The Journal was unable to determine the Kushner Cos.’ plans for the funds, but speculated that the firm would likely be stockpiling cash in anticipation of a wave of low-cost real estate opportunities hitting the market due to the pandemic.
The bond sale is expected to take place during the first quarter of 2021, the report said.