Senate letter documents $87 million in Saudi PIF fees collected by Affinity
Reporting and findings
- documented
The Senate Finance chairman's September 24, 2024 letter, recounting information supplied by Affinity, says Affinity had collected $87 million in management fees from Saudi Arabia's Public Investment Fund. It separately describes $2 billion in committed Saudi investment capital and additional future fees; those amounts are not included here. The letter identifies Jared Kushner as Affinity's sole owner.
- U.S. Senate Finance Committee: Chairman Wyden letter to Affinity Partners, September 24, 2024Pages 1–2: July 24 briefing, $87 million collected, $2 billion capital commitment, wholly owned by Kushner.
Summary and current status
Disclosed historical financial observation
People and organizations
- Donald J. TrumpFormer president and Jared Kushner's father-in-law
- Affinity PartnersRecipient of reported Saudi PIF management fees
- Jared KushnerWholly owns Affinity according to the committee letter
Relationships in this file
- Jared KushnerWholly owns the firm receiving the disclosed Saudi PIF management feesAffinity Partners
Money trail
feeSaudi PIF management fees collected$87,000,000.00 - Fee payer / source
- Saudi Public Investment Fund
- Fee recipient
- Affinity Partners