Jared Kushner is Pivoting from Politics to Launch an Investment Firm in Miami, Sources Say

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Jared Kushner
Jared Kushner

Alex Brandon/AP/Shutterstock Jared Kushner

Former presidential adviser Jared Kushner is leaving politics behind — at least, for the near future — according to a source who tells PEOPLE he will soon launch a financial investment firm in Miami.

Both Reuters and CNN reported this week that Kushner, 40, will launch the investment firm, called Affinity Partners, in the coming months. A source confirms to PEOPLE that Kushner is starting his own investment firm and, in their words, will be pivoting from politics.

Kushner is married to former President Donald Trump's oldest daughter, Ivanka Trump. Both he and his wife, 39, served as advisers to the president. Prior to the Trump administration, though, neither had previously worked in politics.

Before leaving New York to move to Washington, D.C., Kushner served as the chief executive of Kushner Companies, his family's real estate development firm.

Kushner's new investment firm will be headquartered in Miami, where he and his family moved after Trump lost re-election. He is also considering opening an office in Israel, the source tells PEOPLE.

RELATED: Jared Kushner Is Writing a Book About Donald Trump's White House

Recently, Kushner and Ivanka have been spending the summer at Trump's golf property in Bedminster, New Jersey, and recently purchased a second multi-million dollar property in South Florida, which will likely serve as a home base.

Real estate site The Real Deal reported that an entity connected to Kushner closed on a six-bedroom, 8,510-square-foot home in April. The home is located in the ultra-exclusive Indian Creek Island, near a multimillion-dollar undeveloped lot purchased by the couple in 2020.

The couple have been living in a condo not far from the Surfside building that partially collapsed last month. The collapse could explain why the couple are looking to move out of their condo and into a property that's already constructed.

According to recent reports, the former first daughter and her husband quietly helped out with the rescue efforts at the Surfside condo collapse, which killed at least 97 people. A source told Miami's NBC 6 that the couple donated funds to an effort that supplied food to first responders and volunteers searching for survivors.

RELATED: How Melania and Ivanka Trump Spent First Mother's Day After Donald Was Voted Out of White House

Just last month, it was announced that Kushner had inked a deal to write about his father-in-law's often tumultuous presidency and his time as a senior White House aide. The book is expected to be published in early 2022.

"His book will be the definitive, thorough recounting of the administration and the truth about what happened behind closed doors," publisher Broadside Books, a conservative imprint of HarperCollins, said in a press release.

A source close to Kushner told PEOPLE earlier that the book will "span the full length of his time in the White House and also elements of the campaign."

* With reporting by ADAM CARLSON