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Kushner’s Firm Took $2 Billion From the Saudis. Now He’s Negotiating a War That Makes Them Richer

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Saudi money, Iran war, Saudi profit - three facts and one Kushner

Three facts.

Fact one: Jared Kushner’s private equity firm, Affinity Partners, has collected more than $110 million in management fees from the Saudi government’s Public Investment Fund since 2021, congressional Democrats estimate. The Saudis put in $2 billion. They were the first and largest investor. They invested six months after Kushner left the White House. As of mid-2024, the fund had made zero returns for its investors. Zero. The Saudi government kept paying anyway.

Fact two: Jared Kushner is also one of the United States’ lead negotiators on Iran. He’s been in Geneva meeting with Iranian officials. He’s working with Steve Witkoff, Trump’s special envoy, and he’s reporting directly to the president.

Fact three: Saudi Arabia benefits more than any country on earth from Iran’s oil going offline.

That’s it. That’s the whole thing. Kushner takes Saudi money. Kushner negotiates the war. Saudi Arabia profits from the war. I don’t have a political science degree. I just have eyes.

And apparently Congress does too, because on March 19, Senator Ron Wyden and Representative Robert Garcia started an investigation. They sent letters asking how Kushner is raising billions from Middle Eastern governments while simultaneously running Middle East negotiations. And a few weeks after Kushner was in Geneva talking to Iranian officials, the New York Times reported that his firm was trying to raise another $5 billion from Gulf states - and had already met with the Saudi PIF. He was negotiating a war and negotiating his next fundraise. At the same time. In the same part of the world.

The Saudi PIF is controlled by Mohammed bin Salman. MBS. The crown prince who, the CIA concluded, ordered journalist Jamal Khashoggi’s murder in a consulate in 2018 - he denies it. Killed him and cut him up. And Kushner stuck by MBS through all of it - in 2024 he called him “a visionary leader.” A bond that apparently survives a bone saw.

We have documents on this, by the way.

In April 2019, Jeffrey Epstein was texting someone - the House Oversight release doesn’t show who - offering him meetings with “heads” in Yemen and Saudi contacts. “You will have access unlike others,” Epstein wrote in an iMessage. He wanted to set up a meeting with Saudi contacts in Germany. “If I do you can’t blow it off,” he said. He was interested. Epstein told him to coordinate with Pompeo.

This was about seven months after Khashoggi’s murder. A registered sex offender was offering to set up meetings with Saudi contacts while the rest of the world was still in shock about them murdering a journalist. And Epstein’s pitch was literally “you will have access unlike others.”

Isn’t that the same thing Kushner is doing? Epstein did it through texts and dinner invitations. Kushner does it through an investment fund the Saudis put $2 billion into and a title on a presidential brief. The delivery mechanism got fancier. The basic arrangement didn’t change. Take money from a foreign government. Get close to that government’s leaders. Then put yourself at the center of a conflict where your investor makes money.

Affinity Partners’ investors can renegotiate or pull their money in August 2026. Four months from now. Congressional Democrats say the fund has made little to no return. So why would the Saudis keep $2 billion parked in a fund that’s made them little to nothing? Unless the return isn’t financial. Unless the return is a war that takes Saudi Arabia’s rival for power in the region off the map.

Iran exports 1.5 million barrels a day. Saudi Arabia exports about 6 million. If Iran’s exports drop, Saudi Arabia fills the gap. Price goes up. MBS gets richer. The guy who gave Kushner $2 billion gets richer. And Kushner keeps collecting his 1.25% annual fee on that $2 billion. That’s $25 million a year for being Jared Kushner, I guess.

I can’t tell you if this is technically illegal. But I can count to three. Saudi money. Iran war. Saudi profit. If those three things aren’t connected, it’s the most convenient coincidence in the history of American foreign policy.

And nobody has stopped him. Congress sent a letter. That’s it. A letter.

Sources

Correction, September 27th, 2026: This essay first said Jeffrey Epstein’s 2019 texts offering meetings in Yemen and with Saudi contacts went to Anthony Scaramucci - the House Oversight record doesn’t name the person he was texting, and nothing ties those texts to Scaramucci. It also put words in quote marks that Epstein didn’t write - his pitch was “you will have access unlike others.” It said Kushner’s firm has collected $87 million in Saudi fees - that was the total through 2024, and congressional Democrats now estimate more than $110 million since 2021. It said the Times reported the $5 billion fundraising push while Kushner was in Geneva - that report came a few weeks after those talks. It said Iran is Saudi Arabia’s biggest oil competitor and that Saudi Arabia exports about 7 million barrels a day - several countries export far more oil than Iran, and Saudi crude exports are about 6 million barrels a day. And it quoted Kushner on “two pathways” for Iran and quoted reporting on a “strong personal bond” with MBS - neither quote had a source, so both are gone.

Update, September 27th, 2026: A few lines now say who says so - the CIA on Khashoggi’s murder, which the crown prince denies, and congressional Democrats on the fund’s returns - and the title, the zero-returns date and the timing of the Epstein texts are more exact.