Trump-pardoned real estate mogul Charles Kushner up for key diplomatic post
Kushner, the father-in-law of Ivanka Trump, was previously pardoned by President Donald Trump for federal tax evasion and Federal Election Commission violations from 2005, during the mogul's first term.
In 1985, he founded the Kushner Companies and has long been a philanthropist, particularly to Jewish causes and institutions like Yeshiva University in Washington Heights, Manhattan.
He has also donated to St. Barnabas Hospital in Essex County, New Jersey, which has a wing bearing his family name.
During his May 1 confirmation hearing, Kushner acknowledged his past legal missteps, claiming they sharpened his judgment and better prepared him for both the ambassadorship and life.
"I think that my past mistakes actually make me… better in my values to really make me more qualified to do this job," he told the Senate Foreign Relations Committee.
Kushner, who just celebrated his 71st birthday, was nominated in November after Trump called him a "tremendous business leader, philanthropist, & dealmaker, who will be a strong advocate representing our country & its interests."
"He was recognized as New Jersey Entrepreneur of the Year by Ernst & Young, appointed to the U.S. Holocaust Memorial Council, & served as a commissioner, & chairman, of the Port Authority of New York & New Jersey, as well as on the boards of our top institutions, including NYU," Trump said.
"Congratulations to Charlie, his wonderful wife Seryl, their 4 children, & 14 grandchildren. His son, Jared, worked closely with me in the White House, in particular on Operation Warp Speed, Criminal Justice Reform, & the Abraham Accords."
Trump added that Kushner will help strengthen America's partnership with "our oldest ally and one of our greatest."
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Associated Press
3 minutes ago
- Associated Press
Tennis star Novak Djokovic among investors to buy a stake in second-tier French soccer club Le Mans
LE MANS, France (AP) — Tennis star Novak Djokovic is part of a group of investors who have bought a stake in French second-tier soccer team Le Mans, along with ex-Formula 1 drivers Felipe Massa and Kevin Magnussen, the club said Friday. Le Mans said in a statement that they join other new financial investors into the club, including Latin American sports investment firm OutField and Georgios Frangulis, the founder and chief executive of OakBerry. Frangulis is the boyfriend of three-time women's Grand Slam champion Aryna Sabalenka. 'The uniqueness of this fund also lies in its contribution from high-level athletes,' Le Mans president Thierry Gomez said in the statement. 'Novak Djokovic, Felipe Massa, and Kevin Magnussen will be part of the adventure.' No financial details were given. Djokovic is the owner of a men's record 24 Grand Slam titles in tennis. The 38-year-old Serb has won 100 career titles overall. Massa won 11 races and secured 41 podiums in his F1 career. When driving for Ferrari, the popular Brazilian was within a whisker of winning the 2008 title, only for Lewis Hamilton to beat him in a dramatic finish at the last race. Hamilton won the title by 98 points to 97. The 32-year-old Magnussen drove close to 200 races in F1, securing one podium and one pole position. But the Danish driver was not retained by Haas at the end of last year when his contract expired. Le Mans soccer club, which is celebrating its 40th anniversary, begins its league campaign on Aug. 9. Le Mans — a small city in northwestern France — also hosts the famed 24-hour endurance car race. ___ AP soccer:
New York Times
5 minutes ago
- New York Times
Felipe Massa, Kevin Magnussen, Novak Djokovic invest in Ligue 2 club Le Mans through Brazilian firm
Felipe Massa, Kevin Magnussen and Novak Djokovic have become investors of Ligue 2 club Le Mans FC through a Brazilian investment firm, the French club's president announced on Friday. Le Mans secured promotion back to France's second tier last season via a second-placed finish in the third division, National. Club president Thierry Gomez said in a statement on their website that Le Mans welcomed private equity firm OutField as its new financial partner in order to pursue its ambitions of becoming 'a permanent presence in French professional football'. Advertisement OutField's investment in Le Mans is led by co-founder Pedro Olivera, and among its consortium of investors, it named Georgios Frangulis, the founder and CEO of health food brand OakBerry, alongside sportsmen Djokovic, Massa and Magnussen. 'We want to help grow the city's brand and sporting heritage,' Frangulis said in the statement. 'Le Mans has a unique name in world sport, and the sense of belonging the club can offer makes this project exceptional. Novak, Felipe, and Kevin understand this better than anyone, and that's why they're so excited.' Djokovic, formerly ranked the No. 1 men's tennis player in the world, has won 24 Grand Slam titles during his career. The 38-year-old is yet to retire, and another major trophy would see him pull clear for the record of most Grand Slam titles won by any player in the history of the sport. Le Mans said the Serbian's 'mental strength and unique approach will bring considerable added value' to the club. Massa and Magnussen, meanwhile, have both had careers in Formula 1. Magnussen has more recently competed in endurance racing and he represented BMW M Team WRT in competing at the 24 Hours of Le Mans in June, the 102-year-old race for which the French city is globally famed. Massa won 11 Grands Prix between 2006 and 2008 before he suffered a fractured skull due to a spring from Rubens Barrichello's car hitting his helmet at the Hungarian Grand Prix in 2009. 'Le Mans FC has a strong connection with motorsport, and when my good friend and partner at Oakberry, Georgios Frangulis, presented the project to me, I wanted to be a part of it—especially alongside people I deeply respect, like Djokovic, who needs no introduction, and Magnussen, with whom I shared many years in Formula 1,' he said. 'It's undeniably a great opportunity, taking advantage of the momentum of French football, the reigning Champions League champion, which is currently attracting significant investment.' Advertisement Their involvement marks a continuing trend of high-profile athletes becoming involved in the investment of sports teams. Rapper Snoop Dogg and AC Milan midfielder Luka Modric invested in Swansea City earlier this summer, while Tom Brady became a minority owner of Birmingham City in 2023. American golfers Jordan Spieth and Justin Thomas purchased stakes in Leeds United the same year. Meanwhile, Trent Alexander-Arnold, Anthony Joshua and Rory McIlroy joined investment group Otro Capital in 2023, which bought into the Alpine F1 team. LeBron James, a four-time NBA MVP, is another example, having invested a minority stake in the Fenway Sports Group (FSG), which owns Liverpool.
Yahoo
an hour ago
- Yahoo
Wendel SE (WNDLF) (Q2 2025) Earnings Call Highlights: Strong Revenue Growth Amid Currency Challenges
Revenue: 4.2 billion, a 7% increase from the same period in 2024. Net Income: 268 million, with group shares at 4 million. Asset Under Management (AUM): 39.1 billion, with a significant increase from previous periods. Net Asset Value (NAV): 167.7 per share, down due to a 4.7 coupon and dollar depreciation. Principal Investment Performance: Negative impact of 1.5 per share, with listed assets contributing positively by 3.5 per share. Asset Management Contribution: 49 million to net recurring income, with 152 million in management fees for the first half. Cash Position: 1.8 billion in cash and an undrawn credit facility of 875 million. Debt: 2.4 billion in bond debt, including a 750 million exchangeable bond in Bureau Veritas. Dividend Policy: Introduction of a semi-annual dividend policy, with an interim dividend of 1.5 per share to be paid in November. Same-Store Sales Performance: Bureau Veritas reported a 5.7% sales increase, with 6.7% organic growth. Forex Impact: Significant impact due to dollar depreciation, with the dollar at 1.1720 as of June 30th. Warning! GuruFocus has detected 5 Warning Sign with WNDLF. Release Date: July 31, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Wendel SE (WNDLF) reported a strong rebound in its principal investment segment, particularly from ACams and Globe Educate, indicating positive growth prospects. The asset management platform is ramping up with successful fundraising, reaching 39.1 billion in assets under management, showcasing strong organic and inorganic growth. The company has a robust financial structure with 1.8 billion in cash and an undrawn credit facility of 875 million, providing significant financial flexibility. Wendel SE (WNDLF) has implemented a semi-annual dividend policy, aiming to provide more predictable and higher returns to shareholders. The company is actively pursuing growth opportunities in its asset management platform, with plans to expand into new verticals such as infrastructure and secondaries. Negative Points The non-listed portfolio had a disappointing quarter, with significant underperformance from companies like Sta and Scalion, impacting overall results. The net asset value (NAV) per share decreased due to the impact of the dollar depreciation and a coupon payment, highlighting currency risk exposure. The principal investment segment faced challenges, with a negative impact of 1.5 per share, primarily due to underperformance in non-listed assets. The company experienced operational issues in North America, affecting performance in the Target segment, indicating regional challenges. The Crisis Prevention Institute (CPI) reported slower sales growth due to budgetary constraints in US school districts, affecting its performance. Q & A Highlights Q: Given the capital injection of 41 million at Scalion, does that mean your stake in the firm has increased, or did the minority shareholders also match the injection? A: The other shareholders have invested, but not exactly in proportion to their stakes, resulting in a slight dilution. However, part of the investment was made under the form of a non-dilutive instrument, so the percentage has very marginally changed. Q: Regarding the exchangeable bond in Bureau Veritas maturing in March 2026, what are your options if the share price does not reach the strike price by then? A: We can deliver shares instead of cash up to 150% of the underlying shares, which are about 23 million shares. We could also decide to pay in cash. The decision will depend on the share price at maturity, and we have the flexibility to choose the best option. Q: How is the uncalled sponsor money with IK and Monroe accounted for in your NAV calculation? Is it in the cash position? A: The uncalled commitment is still in cash and is reflected as such in the balance sheet. However, it is considered a commitment in our LTV calculation, even though it is not on the balance sheet. Q: Do you see any changes in the asset management environment, particularly regarding fundraising and deal flow? A: Despite a tough environment, we have been pleased with the fundraising efforts of IK and Monroe. Both have reached their fundraising targets, which speaks to the quality of their teams and the satisfaction of their LPs. The environment is challenging, but we have been successful in raising funds. Q: Could you provide more color on the second half outlook for Stahl and the potential disposal of the asset? A: We see H2 looking better than H1 for Stahl, with disruptions in the supply chain smoothing out. We are actively working on carving out the wet end business, aiming for completion by year-end. While we are not in a hurry to sell, we believe Stahl is well-positioned for a potential new chapter. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
