What to know about the Trump family’s investment in Nazemi
Donald Trump’s son-in-law, Jared Kushner, has a major stake in Nazimi Properties.
The firm was founded by Nazemi Properties founder and CEO Omar Nazemi, who has been in business with Trump since 2000.
In November 2016, Nazemi purchased a controlling stake in the company for $100 million, according to documents filed with the Securities and Exchange Commission.
The deal is a major part of a larger partnership between Nazemi and Kushner that includes a stake in several other Trump properties.
Kushner also owns the New York Observer newspaper, which Trump has said he would buy for $1 billion.
He also owns The Washington Post, The Wall Street Journal and The New York Times.
The Nazimi company is in the process of selling its holdings in Trump Tower, which has seen some recent high-profile setbacks.
The company last month filed for Chapter 11 bankruptcy protection, saying that it had run out of money and that it did not have the capital to continue.
In February, Kushner bought a controlling interest in the New Jersey-based developer.
In a statement on the company’s website, Nazimi said that the purchase was part of an ongoing strategic investment.
The statement said Kushner would have no position in any Nazimi properties, and that the transaction was not for personal gain.
The company, however, did say in a statement last week that Kushner would become an advisor to Nazimi’s new chairman, Michael S. Nazimi.
He is the son of the late Omar Nazimi, who ran the company with his father.