Jared Kushner, senior advisor to former President Donald Trump and son-in-law, publicly criticized CNN on Friday for publishing a report examining potential conflicts of interest between his diplomatic work in the Middle East and his private equity investments in Israeli firms. Kushner’s response, posted on X (formerly Twitter), called the report’s headline and framing 'deeply misleading.'
Kushner’s statement emphasized two key points: First, he noted that CNN’s own reporting acknowledged no direct evidence that his diplomatic actions influenced his investments. Second, he argued that the critical details were buried behind a paywall, limiting public access to the full context. The report in question examined Kushner’s role as an unpaid outside adviser during Gaza negotiations while his firm, Affinity Partners, held a significant stake in Phoenix Financial, an Israeli company with investments in defense firms tied to military operations in Gaza.
Affinity Partners’ investment in Phoenix Financial occurred in 2023, shortly before Trump’s return to the White House. The report, based on Israeli financial transparency records, traced investments by Phoenix Financial into Elbit Systems and other Israeli defense contractors. Some of these firms have publicly stated that the Gaza conflict boosted their financial performance, though the report did not establish a direct link between Kushner’s diplomatic role and these investments.
Kushner’s response came in a social media post, where he stated: 'For the last 10 years, I have ignored false and misleading stories about me and focused on the work.' He did not address the specifics of the investments or the timing of Affinity Partners’ stake increase in Phoenix Financial.
Phoenix Financial, headquartered in Tel Aviv, manages over $100 billion in assets, including pensions and insurance for millions of Israelis. Its investments in defense-related firms have drawn scrutiny, though the report noted that no evidence was found that Kushner’s diplomatic actions directly affected these holdings. The Gaza war, which began in October 2023, has been cited by some Israeli defense companies as a factor in their revenue growth, though the report did not connect these financial gains to Kushner’s diplomatic efforts.
Kushner’s role in Middle East diplomacy has included negotiations related to the Gaza conflict, where he has publicly advocated for a hardline stance against Hamas. His unpaid advisory position allowed him to avoid financial disclosure requirements typically imposed on government officials, a point highlighted in CNN’s reporting. The report did not allege any wrongdoing but raised questions about perceived conflicts of interest in his dual roles.
Affinity Partners, Kushner’s private equity firm, has not publicly commented on the report beyond Kushner’s social media response. The firm’s investments in Phoenix Financial were part of a broader strategy to expand its presence in Israeli markets, though the report did not specify the financial terms of the deal.
Israeli financial transparency laws enabled CNN to trace the investments of Phoenix Financial, which is required to disclose holdings in companies with defense ties. The report relied on these public records to map the firm’s exposure to military contractors, though it did not find evidence that Kushner’s diplomatic actions influenced these investments.
Critics of Kushner have pointed to the timing of Affinity Partners’ investment in Phoenix Financial as raising questions about potential conflicts, even if no direct evidence of improper influence was uncovered. Supporters, however, argue that Kushner’s diplomatic work and private investments operate independently, with no overlap in decision-making.
The report’s publication followed increased scrutiny of Kushner’s business dealings amid his high-profile diplomatic engagements. While the report did not allege any legal violations, it underscored ongoing debates about transparency and ethics in the intersection of private business and public service.