WASHINGTON — Jared Kushner, the son-in-law of President Trump, is serving as an unpaid volunteer foreign policy adviser to the administration while running Affinity Partners, a venture capital firm that reported more than $6.1 billion in assets in a regulatory filing last month. About 99 percent of those assets were held by non-U.S. investors, with most funds tied to Saudi Arabia, the United Arab Emirates and Qatar.

The White House confirmed that Kushner holds no official government position. He founded Affinity Partners in 2021, after his role as an official White House adviser in the first Trump administration ended, and the firm has raised billions of dollars almost entirely from investors in the Middle East. As a government volunteer rather than an employee, he is exempt from the usual financial disclosure laws.

"Technically, I have not joined the administration, so I'm still just a volunteer like other businessmen who volunteer to help the government when asked," Kushner said. "What people call conflicts of interest, Steve and I call experience and trusted relationships that we have throughout the world. If Steve and I didn't have these deep relationships, the deal that we were able to help get done that freed these hostages would not have occurred."

President Trump returned to the White House in January 2025. Last summer, he dispatched Kushner to work on the war in Gaza, where Kushner and Steve Witkoff met with regional leaders to broker a peace agreement to end the fighting and secure the release of hostages. Two months later, the pair traveled to Russia to meet with President Vladimir Putin to discuss a cease-fire in the war in Ukraine. Earlier this year, he accompanied Trump on a trip to Davos, Switzerland, for the World Economic Forum.

In March, Kushner held preliminary talks with Saudi Arabia's Public Investment Fund about raising billions of additional dollars for Affinity Partners, which the filing indicated was seeking to raise additional capital.

Reporter Maureen Farrell described the arrangement in a video posted online. "He had a close relationship with Mohammed bin Salman during the first Trump administration. Very shortly after he left the administration, Jared Kushner went back to Saudi Arabia, this time as a fund-raiser. And Saudi Arabia's Public Investment Fund, or PIF, invested $2 billion into Jared Kushner's investment fund," Farrell said. She added: "He's out there negotiating peace deals with governments, working with various governments in the Middle East. He's already been working with them in the private sector, investing their funds and getting big fees from these governments."

Senator Ron Wyden said Kushner's actions "raised the potential for Mr. Kushner to be subject to conflicts of interest, which could threaten the security of the American people."