New book alleges Jared Kushner had secret Gulf-funded accounts; he calls claims false

A new book by US author Matthew Cole, Princes and Thieves, has set off a political and media dispute this week. It makes allegations about the finances of Jared Kushner, son-in-law of US President Donald Trump and one of his main diplomatic envoys in the Middle East, during Trump's first term. Kushner flatly denies them.

What the book alleges

According to Cole, Emirati prince Mohamed bin Zayed and Saudi prince Mohammed bin Salman proposed in early 2017 to give Kushner a fund, essentially a bank account, to finance foreign policy goals for Trump's benefit. The author claims at least $2bn was placed in at least two banks.

The "Alpha" account was allegedly held at First Abu Dhabi Bank and held roughly $750m. The "Beta" account allegedly held about $1bn, and Cole's source says its allocation was for Kushner's personal benefit. The book also quotes the UAE's top intelligence official, Ali Al Shamsi, as calling Kushner "the most expensive employee we've ever had". Cole's sources are mostly anonymous, and the book does not reproduce images of emails or other documents.

Kushner's response

Writing on X, Kushner said the author provided no evidence, demanded that Vanity Fair retract its excerpt, and threatened legal action against publisher Simon & Schuster. He noted that he gave more than 30 hours of testimony to investigators during Trump's first term. His lawyers, Alejandro Brito and Chad Mizelle, say no such accounts exist and have never existed.

The Guardian contacted Kushner's legal representatives and the Saudi and Emirati embassies and received no response.

Context

Kushner continues to influence US foreign policy without an official role. This week he is travelling with businessman Steve Witkoff in an effort to find a peace deal in Ukraine. Questions also surround a $2bn investment by Saudi Arabia's sovereign wealth fund in Kushner's private equity firm Affinity Partners, made in 2021.