Jared Kushner's Firm Holds Stake in Israeli Defense Suppliers, CNN Report Reveals
A CNN investigation reveals that Jared Kushner's investment firm holds a major stake in Israel's Phoenix Group, which invests in firms supplying the IDF, sparking ethics debates.
Jared Kushner, the son-in-law of U.S. President Donald Trump and a key figure in Middle East diplomacy, is the focus of a CNN investigation published Thursday. According to the report, Kushner's investment firm, Affinity Partners, holds a significant stake in Israel's Phoenix Group, which invests in companies supplying equipment and weaponry to the IDF.
Investment Portfolio and Defense Stakes
Financial documents analyzed by CNN indicate that as of late June, Phoenix held at least $456 million in investments across nine companies linked to military supplies. The largest holding was in Elbit Systems, valued at approximately $265 million. Additional investments included roughly $68 million in Next Vision, a manufacturer of drone cameras, and about $40 million in Reshef Technologies, which produces artillery fuses. Other firms include Beit Shemesh Engines, C. Mer Industries, Israel Shipyards, Boeing, and Caterpillar.
Affinity acquired a 4.95% stake in Phoenix for $128.5 million in 2024, later increasing its position before selling a quarter of its holdings for over $340 million last July. Following the sale, Affinity retained a 7.4% stake valued at over $1 billion. All nine analyzed companies saw stock price increases over the past year, with several reporting that the ongoing war in Gaza boosted demand for their products.
Ethical Questions and Responses
Critics point out that Kushner operates as an unpaid volunteer envoy without official government disclosure obligations, raising potential conflict of interest concerns given his involvement in Gaza ceasefire talks and regional diplomacy. Affinity has also received substantial backing from sovereign wealth funds in Saudi Arabia, Qatar, and the United Arab Emirates.
"Any suggestion that Jared's diplomatic work influenced Phoenix's investments in these companies, or vice versa, is completely false," Kushner's attorney stated, noting that Kushner had no involvement in Phoenix's specific investment decisions.
The White House dismissed the criticism, emphasizing that Kushner's private business activities are entirely separate from his voluntary diplomatic efforts on behalf of President Donald Trump.
