Find out how the Kushner family became billionaires after a period of debt

The Kushner family was at an important moment in 2018. The following year, Jared Kushner took office as senior advisor at the White House at a time when his father-in-law, Donald Trump, governed the United States, meanwhile the real estate venture Kushner Companies was experiencing financial difficulties in several sectors, however, years later they managed to resurface in business.

Large debts hinder business ventures

Rumors began to circulate referring to possible investigations related to the influence of investors from Qatar and China, the employer denied the fact. In New Jersey, a high-profile luxury apartment project underway in the Journal Square shopping district was halted, prompting the company to file a lawsuit against Jersey City and the city's mayor, arguing that they were inserting a default project due to 'political animosity'. The strongest threat came from Manhattan, where the company faced a debt of US$1.2 billion (around R$6.85 billion at current prices). It expired in February 2019 on its main asset, having a 50.5% stake in 666 Fifth Avenue, which is a 41-story office tower located in Midtown.

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_{Jared Kushner and Donald Trump in Washington (Photo: reproduction/Drew Angerer/Getty Images Embed)}

The resurgence of the Kushner family

The comeback came six years later, where one of the two 64-story towers was completed this summer. The second investment is a 30-story tower with 420 units in Miami, which was completed in early October. A few days later, OpenAI leased more than 50% of the Puck Building office space, in Lower Manhattan, located in New York. OpenAI, developer of ChatGPT, will pay US$140, equivalent to R$800 per square meter, which is higher than the previous tenant, which was New York University, which paid US$31 (around R$176 ), according to sources in the rental contract industry.

In addition, the company also secured a 99-year lease at 666 Fifth Avenue, which was renamed 660 Fifth Avenue; This happened in 2018, putting an end to debt problems. And as far as possible investigations are concerned, none of them went ahead.

Featured photo: Ivanka Trump, Theo Kushner, Jared Kushner and Joseph Kushner in New York (Reproduction: John Lamparski/Getty Images Embed)