Jared Kushner chooses to sell his holding in proptech investor platform

Jared Kushner decides to sell his holding in Cadre, showing a goal to comply with the ethic rules, according to an attorney.

In 2014 — three years before he became a White House senior adviser in the Trump Administration — Jared Kushner co-founded Cadre, a digital platform for real estate investors. And according to the Associated Press (AP), Kushner has sold his stake in the company.

AP's Bernard Condon reports that according to a financial disclosure report filed in 2019, Kushner's holding in Cadre was worth somewhere between $25 million and $50 million. Kushner, who is President Donald Trump's son-in-law and is married to White House Senior Adviser Ivanka Trump, co-founded the company with his brother, Joshua Kushner, and associate Ryan Williams (now Cadre's CEO).

According to AP, a filing at the Office of Government ethics that was recently released shows that Kushner received permission to defer capital gains taxes on the sale.

Interviewed on condition of anonymity, a source described by Condon as someone "familiar with the sale" told AP that in 2019, Cadre urged Jared Kushner to consider selling his holding in the company because potential investors might think there were conflict of interest concerns given his position in the White House.

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