Topline
Jared Kushner denied his work as a special envoy for the Trump administration in the Middle East influences his investments in the region in response to a CNN story he called “deeply misleading,” issuing a rare rebuke of a media report as President Donald Trump wars with CNN.
U.S. Special Envoy for Peace Missions Jared Kushner participates in a joint press conference with Ukrainian President Volodymyr Zelenskyy after talks on September 6, 2026 in Kyiv, Ukraine. (Photo by Andriy Zhyhaylo/Oboz.ua/Global Images Ukraine via Getty Images)
Key Facts
CNN reported Thursday that Kushner’s private equity company, Affinity Partners, is the largest stakeholder in a Tel Aviv firm, Phoenix Financial, that invests in companies that provide Israel with military equipment, according to records the network reviewed.
Affinity doubled its stake in Phoenix shortly before Trump began his 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 firm worth more than $1 billion as of July.
In his voluntary diplomatic role in the Trump administration, Kushner has helped broker a peace deal between Israel and Hamas, though Israel has continued to launch daily strikes against Gaza.
Kushner accused CNN of suggesting his work in the Middle East “somehow benefited investments in Israeli defense companies,” insisting in a post on X Friday, “I have no role in deciding what Phoenix buys or sells.”
Kushner told Forbes last year, when we reported he became a billionaire, that he maintains “a very active dialogue” with Phoenix, which he called “the JPMorgan of Israel.”
Kusher, who referred to Phoenix as Affinity’s “best investment” in the interview with Forbes last year, said in his X post Friday, Phoenix “has performed very well for Affinity and our investors, up more than five times since our initial investment.”
Chief Critic
“There are always people who profit from war or government policies,” said Cynthia Brown, chief ethics counsel for Citizens for Responsibility and Ethics in Washington. “The difference is that the people profiting should not be the people making the decisions to make that policy. And that is what is happening here.”
Contra
A lawyer for Kushner told CNN that his statement to Forbes last year about his involvement with Phoenix was accurate at the time, but said he ineracts with management significantly less frequently as he’s become “substantially more engaged in volunteer public-service and diplomatic efforts.” White House spokesperson Anna Kelly also defended Kushner, telling CNN his “personal business activities have nothing to do with his diplomatic engagements, which he conducts on a volunteer basis at the President’s request.”
Forbes Valuation
We estimate Kushner is worth $1 billion.
Crucial Quote
“For the last 10 years, I have ignored false and misleading stories about me and focused on the work,” Kushner wrote on X. “But the cycle has gotten out of control where old lies get repeated as fact, new ones get added, and the record becomes increasingly distorted. So from time to time, I’m going to respond, but not to every allegation. But when the truth matters, I’ll put the facts and supporting information out publicly, and people can judge for themselves.”
Tangent
Trump has attempted to block CNN from its White House access recently, along with MS NOW and Politico, claiming the outlets are a “constant” source of “fake news.” A judge overturned the ban temporarily, but Trump has appeared to defy the order, prohibiting CNN on Thursday from joining the White House TV pool that traveled with him to campaign in Texas.
Key Background
Kushner’s work as one of Trump’s top negotiators in the Middle East began during Trump’s first term, when he tried to negotiate 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 has met repeatedly 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 substantially. He owns 100% of Miami-based 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 the company was worth $215 million. Most of Affinity’s investors—which include the Qatari sovereign wealth fund and Abu Dhabi-based Lunate—have come from Kushner’s White House connections, Forbes reported previously.
further reading
Jared Kushner Will Soon Become A Billionaire (Forbes)
How Jared Kushner’s Bold Bets In The Middle East Made Him A Billionaire (Forbes)
This article was originally published on Forbes.com