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Holy crap. Three years ago Kushner's stake in Cadre was worth $5 million. He just sold it for $25-50 million after it benefitted from Opportunity Zone tax breaks that Kushner pushed for. https://www.syracuse.com/us-news/2020/03/jared-kushner-sells-stake-in-firm-that-benefited-from-trump-tax-breaks.html
A short thread on Kushner's sale of Cadre:
"In selling his stake, Mr. Kushner also took advantage of a special federal program that would allow him to defer paying income taxes on any gain on his investment in Cadre, which he helped found in 2014." https://www.nytimes.com/2020/03/05/us/politics/jared-kushner-cadre.html
"In selling his stake, Mr. Kushner also took advantage of a special federal program that would allow him to defer paying income taxes on any gain on his investment in Cadre, which he helped found in 2014." https://www.nytimes.com/2020/03/05/us/politics/jared-kushner-cadre.html
"But Mr. Kushner’s investment in Cadre has repeatedly drawn questions. He initially failed to list it in a financial disclosure report he filed with the federal government after being named as a White House official."
"That form was repeatedly revised in 2017, as Mr. Kushner corrected oversights and errors in his filing. At one point, language was added to the document that made clear that there was concern his work at the White House on matters related to financial markets..."
"..could potentially create a conflict."
"Ivanka Trump helped promote the opportunity zone program, declaring the White House’s support for the new tax breaks at an event in 2018.
“We are very, very excited about the potential,” she said."
"Ivanka Trump helped promote the opportunity zone program, declaring the White House’s support for the new tax breaks at an event in 2018.
“We are very, very excited about the potential,” she said."
