Kushner Denies 'Insane' Claims of $2B Gulf Slush Funds in New Book

Key points

• Matthew Cole's book 'Princes and Thieves' alleges Kushner managed 'slush fund' accounts funded by UAE and Saudi princes.
• Kushner's attorney, Alejandro Brito, stated that no such accounts exist and that Kushner's financial disclosures are public.
• Cole claims an 'Alpha' account at First Abu Dhabi Bank held $750m and a 'Beta' account held $1bn, potentially for Kushner's personal benefit.
• Kushner threatened legal action against publisher Simon & Schuster and demanded Vanity Fair retract its excerpt.
• Jon Stewart interviewed Cole on 'The Daily Show,' expressing skepticism about the book's specific details despite believing the broader theme.

Background

This controversy follows recent legal and ethical challenges to Kushner's diplomatic role. In October 2026, the Citizens for Responsibility and Ethics in Washington (CREW) sued to block his unconfirmed envoy status, citing conflicts of interest with foreign sovereign wealth funds. Earlier this month, Kushner also denied claims regarding a hacked iPhone and secret financial trails, marking a pattern of intense scrutiny over his financial dealings while serving as a top US diplomatic envoy.

How outlets are covering it

The Guardian provides a detailed breakdown of Cole's allegations, including specific account names ('Alpha' and 'Beta') and the involvement of figures like Mohamed bin Zayed and Mohammed bin Salman. Kushner's camp, represented by attorney Alejandro Brito, categorically denies the existence of any such accounts, calling the claims 'egregious and defamatory.' TheWrap highlights the public reception of the book, noting that while Jon Stewart found the narrative 'frustrating' and questioned specific details, he acknowledged the broader theme of corruption. Cole maintains confidence in his reporting, describing the book as the 'tip of the iceberg' regarding Trump administration corruption, despite lacking public documentation or on-record interviews with Kushner.

Why it matters

The book raises serious questions about the integrity of US foreign policy and the potential for foreign influence through private financial channels. If the allegations are substantiated, they could implicate high-level officials in illegal financial arrangements that bypassed congressional oversight. The dispute also highlights the ongoing tension between anonymous sourcing in investigative journalism and the legal defenses employed by political figures facing financial scrutiny.

What to watch

Kushner's legal team has threatened litigation against the publisher, Simon & Schuster, and demanded that Vanity Fair retract its excerpt. Cole has stated he is confident in his sources but cannot provide specific evidence to protect them. The outcome of any potential defamation lawsuit or further congressional investigation into Kushner's financial disclosures will determine the long-term impact of these allegations on his diplomatic role and public reputation.