Sources familiar with Mr Kushner’s plan said on Wednesday that the launch of the firm will take place in the next few months and remove Mr Kushner from the political fray for the foreseeable future.
The former chief executive of Kushner Companies and aide to the last Republican president is finalizing the process for starting up Affinity Partners, an investment firm that will be based in Miami, Reuters reported.
The husband of Mr Trump’s daughter Ivanka is also looking at opening an office in Israel to invest in local projects, connecting the Israeli economy with India, North Africa, and the Gulf, the news agency reported.
As of yet, it’s unclear who the potential investors include and sources say the venture is still in its planning stage.
Since leaving the White House in January, Mr Kushner has been spending his time with family in Miami and writing a book about his time in the Trump administration that’s expected to hit the shelves early next year.
Reuters reported that Mr Kushner is still close with Mr Trump, but leaving the political field makes it less likely that he will be a part of Mr Trump’s possible political revival as he mulls another run for the White House in 2024.
While the vast majority of Republican officials and voters strongly support Mr Trump, the deadly attack on the Capitol on 6 January and Mr Trump’s false claims that President Joe Biden won the 2020 election through voter fraud has made some uneasy about appearing to be too close to the former president.
During the summer, Mr Kushner and his family have been at Mr Trump’s golf course in Bedminster, New Jersey.
Many mocked Mr Kushner on his way out of politics as the news spread on social media.
“After bringing endless peace to the Middle East, solving racism, and being involved in almost every tremendous decision Trump made, Kushner is taking a well-deserved leave from something he never properly entered in the first place,” Independent columnist Ahmed Baba tweeted sarcastically.
Political Scientist Don Moynihan added: “Jared Kushner will step back from politics, a field where he earned his elevated position through nepotism rather than elected office, in order to concentrate on monetizing his political connections.”
Web developer Laurie Voss wryly noted: “I am shocked, shocked to learn that Jared Kushner cannot find a job in politics anywhere and so is going back to his previous job of Being Born Wealthy.”
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