- Affinity Partners doubled its investment in Phoenix Financial shortly before Trump's return to office, which has invested hundreds of millions in Elbit Systems and other Israeli defense firms.
- In July, Affinity Partners cashed out a quarter of its stake in Phoenix for over $340 million, achieving a fivefold return on its initial investment.
- Kushner described Phoenix as his 'best investment' and held a 7.4 percent stake worth over $1 billion.
- Kushner maintained a 'very active dialogue' with Phoenix leadership, meeting with them every few weeks.
- Kushner served as a leading voice on Middle East policy and was instrumental in brokering the Gaza ceasefire in October.
- CNN's investigation found no direct link between Kushner's diplomatic efforts and the investments, but raised conflict-of-interest concerns.
- Kushner's financial ties raise ethical concerns regarding his role as a volunteer envoy in peace negotiations.
- Kushner's attorney stated he had no involvement in Phoenix's investment decisions, asserting that any suggestion of influence is incorrect.
- Kushner avoided deeper scrutiny of potential conflicts of interest due to serving as an unpaid envoy rather than in an official government role.
A CNN investigation has uncovered that Jared Kushner's Affinity Partners significantly profited from investments in Israeli defense firms while he was involved in negotiating a ceasefire in Gaza. The firm doubled its investment in Phoenix Financial, which has substantial stakes in Elbit Systems and other defense contractors.1
Shortly before Trump's return to office, Affinity Partners cashed out a quarter of its stake in Phoenix for over $340 million, a return exceeding five times its initial investment. Kushner, who holds a 7.4% stake in Phoenix worth more than $1 billion, described it as his firm's best investment.23
Cynthia Brown, chief ethics counsel for Citizens for Responsibility and Ethics in Washington, expressed concern over Kushner's financial ties, stating, “There are always people who profit from war or government policies. The difference is that the people profiting should not be the people making the decisions to make that policy.” Kushner's attorney claimed he had no direct involvement in investment decisions, although he maintained regular communication with Phoenix management.
Despite Kushner's role as a volunteer envoy, the investigation highlights a potential conflict of interest, as his firm benefited from the rising demand for military supplies amid the ongoing conflict in Gaza. All nine companies linked to Phoenix saw their share prices increase last year, raising ethical questions about Kushner's dual roles in diplomacy and investment.
Kushner was a key architect of the Gaza ceasefire agreement reached between Israel and Hamas last October, although violence has persisted since then. The investigation found no direct link between his diplomatic efforts and the financial gains of his firm.567
“Affinity Partners sold a quarter of its Phoenix stake in July for over $340 million, a fivefold return, and remains the largest shareholder with a 7.4% stake worth over $1 billion. Kushner's attorney denies any involvement in Phoenix's investment decisions, while White House calls the report a 'tired narrative.'”
The New Republic
Ynetnews
