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Jared Kushner & the Meritocracy


Congratulations to Jared Kushner for getting the federal government to cover a well-deserved $800 million loan! This is such a feel-good story, showing our meritocracy at work:
As a child, Jared's family ran a small business of owning 25,000 apartment units. They barely scraped by on less than $100 million income per year. The Kushners were forced to live off of government assistance, via the rent received from their low-income tenants. When it was time to apply for college, Jared didn't have the advantages of other applicants. For example, he wasn't a great student, his GPA was low, and he got a bad score on the SAT. It was only by a stroke of luck that Jared's dad Charles cobbled together a $2.5 million donation to Harvard. Just in time to get him a spot. 
Yet even with a Harvard degree and Ivy League connections, poor Jared didn't find anyone willing to hire him! Except for his dad. So, he pulled himself up by his bootstraps and took an entry-level position as a vice-president for Kushner Companies. Through hard work, plus the fact that his dad Charles was sentenced to federal prison for multiple felonies, Jared quickly rose to become CEO. Jared was, by far, the most qualified among all the children of Charles Kushner (Jared’s only sibling, Joshua, was still a teenager).
It turns out that being CEO for the company your dad owns is not much of a time commitment. So Jared signed up to take classes instead. He completed a law degree as well as an MBA during his first couple years as CEO. Additionally, he worked as an (unpaid?) intern for the Manhattan district attorney while he was CEO. I ask you, how many 26-year-olds can say they did that? (full disclosure: the district attorney Jared worked for was not the same office that arrested and convicted his dad.)
As CEO, through little more than his own sweat and tears, Jared took the small nest-egg of 1 billion dollars he received from Charles, then turned it into 1.1 billion dollars. Minus the $500 million debt he borrowed from the federal government (for a total of approximately $0.6 billion). Not so bad for a hardscrabble kid from New Jersey! Jared has been described as "very smart" by both his father and his father-in-law. He also has either a large or small amount of what is known in the industry as “business acumen.” That, my friends, is how the son of a billionaire from a forgotten corner of Jersey rises from obscurity to become the point person for solving the opioid epidemic, fixing the VA, running the Office of American Innovation, reforming the criminal justice system (here’s looking at you, Charles Kushner!), and creating peace in the Middle East. 
Once Jared entered government, he attempted to not lie on his disclosure forms, but unfortunately he did lie several times (which is a felony, though for the record it is not his fault that this act is classified as a felony). Once they sorted out the things he had lied about, Jared was unfairly forced to turn over control of his company to other family members. So technically speaking, all the work of getting this week’s new capital injection was done by people who are not Jared Kushner. Yet this $800 million subsidized loan only confirms what we already knew about Donald Trump's son-in-law: Jared Kushner has totally earned the level of admiration that everyone has for him.

https://www.bloomberg.com/news/articles/2019-05-23/kushner-cos-gets-800-million-federally-backed-apartment-loan

Comments

kipaustinhinton said…
Hopefully this will be the end of his family's financial struggles. As children of billionaires they have had to work so hard to make something of themselves in this difficult economy. This is the opportunity they so desperately need.
6/30/2019
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