Matthew Cole’s book, Princes and Thieves, alleges that Emirati leader Mohamed bin Zayed and Saudi leader Mohammed bin Salman arranged at least $2bn in two bank accounts for Jared Kushner during Donald Trump’s first term. One account, reportedly holding about $750m, was intended to fund foreign-policy goals; another, said to contain roughly $1bn, was allegedly moved to Israel via Azerbaijan and allocated for Kushner’s personal benefit. The book claims the money was meant to advance Gulf leaders’ regional agenda, including normalizing relations with Israel, and says Kushner managed the accounts on a phone hacked by Russian and Dutch intelligence. Cole writes that one account was later drained and Kushner’s access cut off. His reporting relies mainly on anonymous sources and confidential interviews, without reproducing documentary evidence.
Kushner calls the allegations false and “completely insane,” has demanded a retraction and threatened legal action. His attorney says he had no foreign financial relationships, government-linked accounts or unauthorized arrangements, and that he acted in US interests; Kushner also points to extensive investigations and public financial disclosures. The claims renew scrutiny of possible conflicts between Kushner’s diplomacy and business ties. Cole also discusses Qatar’s investment in Kushner’s Manhattan property and the Saudi sovereign wealth fund’s $2bn investment in his private equity firm after Trump left office. Kushner continues to take part in diplomacy without an official government role, including alongside Steve Witkoff, while his relationships with Gulf leaders remain under examination.
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