Jared Kushner denies that his Israeli diplomacy could benefit his business interests in Tel Aviv
Top line
Jared Kushner denied that his work as the Trump administration’s special envoy to the Middle East is influencing its investments in the region in response to a CNN article he called “deeply misleading,” issuing a rare rebuke of a media report while President Donald Trump is at war with CNN.
U.S. Special Envoy for Peace Missions Jared Kushner participates in a joint news conference with Ukrainian President Volodymyr Zelenskyy after talks September 6, 2026 in Kyiv, Ukraine. (Photo by Andriy Zhyhaylo/Oboz.ua/Global Images Ukraine via Getty Images)
Global Images Ukraine via Getty Images
Key facts
CNN reported Thursday that Kushner’s private equity firm, Affinity Partners, is the largest shareholder in a Tel Aviv company, Phoenix Financial, that invests in companies that supply Israel with military equipment, according to information reviewed by the network.
Affinity doubled its stake in Phoenix shortly before the start of its second term, sold a quarter of its stake in the company in July for more than $340 million and still owns a 7.4% share of the company, worth more than $1 billion, as of July.
In his volunteer diplomatic role in the Trump administration, Kushner helped broker a peace deal between Israel and Hamas, even as Israel continued to launch daily strikes against Gaza.
Kushner accused CNN of suggesting that its work in the Middle East “has somehow benefited investments in Israeli defense companies,” insisting in an article published Friday: “I have no role in deciding what Phoenix buys or sells.”
Kushner told Forbes last year, when we reported that he had become a billionaire, he had “a very active dialogue” with Phoenix, which he called “the JPMorgan of Israel.”
Kusher, who called Phoenix Affinity’s “best investment” in last year’s Forbes interview, said in his article X Friday that Phoenix “has performed very well for Affinity and our investors, more than five times since our initial investment.”
Chief Spokesperson
“There are always people who profit from war or government policies,” said Cynthia Brown, chief ethics adviser for Citizens for Responsibility and Ethics in Washington. “The difference is that those who benefit should not be the ones making the decisions about this policy. And that’s what’s happening here.”
Contra
A lawyer for Kushner told CNN that his statement to Forbes last year about his involvement in Phoenix was accurate at the time, but said he interacted much less frequently with management because he had become “considerably more engaged in volunteer public service and diplomatic efforts.” White House spokeswoman Anna Kelly also defended Kushner, telling CNN that “his personal professional activities have nothing to do with his diplomatic engagements, which he conducts voluntarily at the request of the president.”
Forbes Rating
We estimate Kushner is worth $1 billion.
Crucial quote
“For the past ten years, I have ignored the false and misleading stories about me and focused on my work,” Kushner wrote on can judge for themselves.”
Tangent
Trump recently attempted to block CNN from the White House, alongside MS NOW and Politico, claiming the outlets were a “constant” source of “fake news.” A judge temporarily overturned the ban, but Trump appeared to defy the order, barring CNN on Thursday from joining the White House television group that accompanied him to campaign in Texas.
Key context
Kushner’s work as one of Trump’s top Middle East negotiators began during Trump’s first term, when he tried to broker a resolution to the Israeli-Palestinian conflict. He also helped negotiate the Abraham Accords for Israel to normalize relations with the United Arab Emirates, Bahrain, Morocco and Sudan. He met several times with Israeli Prime Minister Benjamin Netanyahu and helped broker the ceasefire between Hamas and Israel reached in September last year. Meanwhile, his personal business interests are deeply intertwined in the region and have helped him grow his net worth significantly. He owns 100% of the Miami-based company Affinity, which he founded in 2021 after leaving the White House. The company invested in Phoenix in July 2024. Forbes estimated in September last year that the company was worth $215 million. Most of Affinity’s investors, including the Qatari sovereign wealth fund and Abu Dhabi-based Lunate, come from Kushner’s White House connections, Forbes previously reported.
further reading
Jared Kushner will soon become a billionaire (Forbes)
How Jared Kushner’s Bold Middle East Bets Made Him a Billionaire (Forbes)
Gn world
