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Jared Kushner Is Now a Billionaire, Forbes Estimates

Forbes estimated Jared Kushner’s net worth at $1 billion in September 2025, based on estimated business interests and property. Affinity Partners’ assets under management are not his personal fortune.
From TheFinanceBase Team3 min to read
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Forbes estimated Jared Kushner’s net worth at $1 billion in September 2025, up from an estimate of at least $900 million in October 2024. That makes the headline accurate as an attributed Forbes estimate—not as a publicly verified or audited account of his personal finances. The reporting does not establish the exact date he crossed the billion-dollar threshold or his precise net worth today.

What Forbes included in its $1 billion estimate

In a September 23, 2025 article, Forbes Australia valued Kushner’s fortune at $1 billion. Its estimate drew on private business interests and property, whose valuations are estimates rather than cash balances.

Asset or business interest Forbes estimate What the figure represents
Kushner’s 20% stake in Kushner Companies $560 million Estimated value of his ownership interest
Affinity Partners $215 million Estimated value of the firm, not the amount of investor money it manages
The couple’s Miami home $105 million Estimated property value, not liquid funds

These are Forbes’s estimates, not independently audited valuations. Private-company stakes and a home are illiquid assets: their estimated value is not the same as money available to spend, and an eventual sale price could differ.

Forbes also reported that Affinity had raised $4.6 billion from backers in Qatar, Saudi Arabia and the United Arab Emirates, and had invested more than $2 billion in 22 companies. Those are figures about the firm’s fundraising and investments; neither amount is Kushner’s personal wealth.

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Why Affinity’s $6.2 billion is not Kushner’s net worth

Bloomberg reported on March 23, 2026, citing a regulatory filing it reviewed, that Affinity Partners had $6.2 billion in assets at the end of 2025. Assets under management (AUM) are assets managed for clients and investors. They are not automatically owned by the investment manager and cannot be added to the manager’s personal net worth.

A separate disclosure detail helps explain the distinction. The Senate Finance Committee said Affinity’s 2024 Form ADV attributed 99% of its AUM to non-U.S. clients and investors. The committee also said a parallel fund with $2.97 billion in AUM was wholly owned by non-U.S. persons. These are the committee’s descriptions of the filing in the context of its inquiry; they describe the investor base, not a valuation of Kushner’s personal interest.

How the reported estimate changed

In October 2024, Forbes estimated Kushner’s net worth at least $900 million. It said more than half of that estimate—about $580 million—came from his 20% stake in Kushner Companies. Forbes valued his Affinity-related interest at $170 million, including his investment, fees already collected, and expected fees and profits through 2031. Kushner told Forbes “he isn’t a billionaire yet.”

By September 2025, Forbes’s estimate had reached $1 billion. The change is a shift in Forbes’s reported assessment; it does not show the precise day his wealth crossed the threshold. Nor does it establish an exact value for any date after the 2025 estimate.

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What the estimate does—and does not—establish

  • What it says: Forbes put Kushner’s estimated net worth at $1 billion in September 2025, using estimated values for private interests and property.
  • What it does not say: It is not an audited personal balance sheet, a public record confirming an exact fortune, or proof that he had $1 billion in cash.
  • What the later AUM figure means: Bloomberg’s $6.2 billion figure concerns Affinity’s assets at the end of 2025, not Kushner’s personal net worth.
  • What remains unknown from these reports: The exact date he crossed $1 billion and his precise current net worth.

In a February 2024 Associated Press report about his post-government Saudi business dealings, Kushner defended his conduct, saying “he followed every law and ethics rule.” That is his stated position, not an independent legal finding.

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