Charles Kushner is an American real estate developer and owner who is also the founder of the famous Kushner Companies established in 1985 in New Jersey. He was the acting Chairman of the Company. His elder son, Jared Kushner is married to Ivanka Trump, daughter of President of the United States Donald Trump. As the son-in-law of President of the United States Donald Trump, he is the appointed senior advisor to the President. Keep reading to know more about Charles Kushner’s net worth in 2018.
Charles Kushner Early Life
Charles Kushner was born on May 16, 1954, to Joseph and Rae Kushner. Charles was named Chanan after his maternal uncle, who had died in a concentration camp during the Holocaust. Charles and his elder brother, Murray Kushner, were raised in Elizabeth, New Jersey. Charles also has a sister, Esther Schulder. Their parents were Holocaust survivors who immigrated to America from Belarus (1949). Charles graduated from New York University (B.A.), School of Law of Hofstra University (J.D., 1979). He also earned New York University (M.B.A.).
Charles Kushner married Seryl (Stadtmauer) Kushner. They have four children including sons: Jared and Josh. Jared Kushner is married to Ivanka Trump, daughter of President of the United States Donald Trump and he is the senior advisor to the President.
Charles Kushner Career, Awards & Achievement
Charles father, Joseph, worked as a carpenter, builder to the construction sites. Also, Joseph managed 4,000 apartments that he helped build. While growing up, Charles worked with his father and continued managing his father’s portfolio of 4,000 New Jersey apartments from 1985.Charles was not interested in building instead; he wanted to own apartments and building so he invested in real estate industry.
In 1985, Charles founded the Kushner Companies with its headquarters in Florham Park, New Jersey and became its Chairman. Around 10,000 residential apartments, a home-building business, commercial and industrial properties, and a community bank were added to the Kushner Companies. Over 20 years, Kushner Companies owned 25,000 apartments across the Northeast during the peak period of Kushner Companies (2004). Later, Charles moved his business from New Jersey to New York City where he bought the 666 Fifth Avenue building in Manhattan for US$1.8 billion (2007).
The Kushner Company still runs by Jared Kushner. However, in the past months, Jared distanced himself from the family business because he is busy with his present formal White House job.
Charles’ younger son, Josh made a name in the tech industry. He launched his first business, a social media network, from his dorm room. However, the business did not succeed. In 2009, Josh co-founded Thrive Capital, a venture capital firm that originally invested in Instagram. Since then, Josh invested in technologies such as messaging app Slack, online payment platform Stripe, fitness app ClassPass, tech-based real estate brokerage Compass, Amazon competitor Jet, cosmetics start-up Glossier and more.
Josh co-founded Oscar, a health insurance Company valued at $2.7 billion as of February 2016. The famous investors are billionaires named Vinod Khosla and Jim Breyer. Josh never took any formal role in the family-owned estate Company. Josh and Jared co-founded Cadre, an online platform for investing in real estate, in 2014. After two years, Cadre raised $50 million from big-name investors including Goldman Sachs, Jack Ma (Billionaire Alibaba Founder), Private Equity Firm (Belonging to billionaire George Sorosand Yuri Milner (Russian billionaire Tech Investor).
Net worth of Charles Kushner
Charles and his family are estimated to have a net worth of $1.8 billion. He owned a Insurance company worth $2.7 billion. He has also invested in real estate sector, an online platform for which he raised $50 million as well. Today, the Kushner family owns 13 million square feet plus 20,000 apartments across six states. They also have famous blue-chip tenants including AT&T with its Midwest Headquarters in Kushner-owned building, Chicago’s West.
Charles Kushner, aged 63, has proved to be a successful real estate businessman. He founded the Kushner Companies and became its Chairman in 1985. Charles and his two sons Jared and Josh are also well known for their business success.