A top Democratic lawmaker is seeking information on Jared Kushner’s financial investments following a CNN investigation last week that found his private equity firm is the largest shareholder in an Israeli company backing businesses involved in Israel’s military campaigns.
Rep. Robert Garcia, the ranking member on the House Oversight Committee, sent Kushner’s investment firm, Affinity Partners, a letter on Monday saying Democrats on the committee were “investigating the unprecedented and dangerous ways in which President Trump and his family have profited directly from their access to power.
“…I request detailed information about your business dealings in the Middle East to understand whether your significant financial gains have come at the cost of Americans’ safety and security, ” the California representative wrote.
The letter is yet another sign that House Democrats are poised to investigate President Donald Trump’s family members’ business dealings overseas and in the US, should they retake the majority in the midterm elections this fall.
An attorney for Kushner dismissed Garcia’s criticisms and sought to draw attention to the congressman’s own holdings in investments scrutinized in CNN’s report on Kushner – Phoenix Financial, an Israeli financial services firm which counts Affinity Partners as its biggest investor, and Elbit Systems, Israel’s largest arms manufacturer.
“Rep. Garcia’s letter is a masterclass in irony: A member of Congress questioning a private citizen for having an interest in the same stock in which the member also holds an interest,” the attorney said in a statement to CNN. “Jared has no role in deciding what Phoenix buys or sells. But if that doesn’t matter to Rep. Garcia, he should begin by investigating himself.”
Garcia’s most recent disclosure forms indicate his pension plans are managed through the California Public Employees’ Retirement System and California State Teachers Retirement System. Both plans hold stock in Phoenix Financials or Elbit Systems.
A spokesperson for Garcia said Kushner’s attorney was trying to “deflect” from his client’s own conduct, adding the congressman does not trade stocks and, like the millions of other public employees in the pension plan, does not have any control over the fund and cannot opt out.
Kushner “makes millions with no accountability all while he travels the Middle East on behalf of his father in law,” said Sara Guerrero, Garcia’s spokesperson.
“The apparent conflict of interest between Affinity Partners’ investments and your work in the Middle East, and in particular the potential for corrupt dealmaking given those competing interests, demands congressional oversight and accountability,” Garcia’s letter stated.
CNN’s investigation raised questions about potential conflicts of interest between Kushner’s volunteer role as a peace envoy to the Middle East, and his firm’s financial investments. Kushner’s attorney did not address his client’s role as a negotiator on behalf of the Trump administration.
As part of the review into Kushner’s financial holdings, CNN used Israeli financial transparency laws to trace investments made by Phoenix Financial, a Tel Aviv-based firm that Kushner’s Affinity Partners doubled its stake in last year, shortly before Trump returned to the Oval Office. CNN’s reporting specifically excluded Phoenix’s investments through retirement accounts and focused on insurance holdings instead.
Those records, which include only some of Phoenix’s holdings, show Phoenix has invested hundreds of millions of dollars into Elbit Systems. Phoenix also holds stakes in at least eight other companies providing equipment for the Israeli military ranging from drones and warships to demolition machinery, CNN found.
All nine companies identified by CNN saw their stock value climb last year, with many stating the war in Gaza had driven demand for their businesses.
Affinity doesn’t directly hold a stake in the nine companies CNN identified – but it does stand to reap rewards when Phoenix makes a profit. Kushner described Phoenix as Affinity’s “best investment” in September 2025.
CNN found no indication that Kushner’s actions as a diplomat directly affected the investments reviewed. Kushner’s attorney told CNN his client has “never participated in or directed Phoenix’s decisions” on where to invest.
A day after CNN’s reporting, Kushner posted a rare response on X, calling CNN’s story “deeply misleading.” Kushner did not point to any inaccuracies in the piece in his post.
“Misleading stories will not distract me from the work President Trump asked me to do: help end wars, bring people together and pursue peace. That work is too important,” Kushner wrote on X.
Garcia referenced Kushner’s social media post, writing “despite your denial of improper behavior, the fact remains that you have been allowed to hold a position of enormous power and responsibility, exempt from financial disclosure requirements and outside oversight.”
In addition to CNN’s report, the New York Times published a story detailing additional “intermingling” between Kushner’s volunteer diplomatic role and his businesses, as it related to the war in Ukraine.
US talks with Russia to end that war have expanded to include a multibillion-dollar deal selling oil assets from one of Russia’s biggest energy companies to a group of investors with ties to Steve Witkoff and Kushner, the two main negotiators for the Trump administration, according to the Times.
A spokeswoman for Witkoff told the Times he “has no conflict of interest or financial stake in this matter” and said his work for the US administration is undertaken “at his own expense.”
Kushner’s attorney did not respond to CNN’s inquiry about this reporting.
Garcia and other Democrats have for years demanded answers from the White House and Trump’s family about concerns over “apparent influence peddling and quid pro quo deals” and whether foreign money is being used “to buy access to the President and influence American policy.”
In March, Garcia and Oregon Sen. Ron Wyden specifically requested information from the White House about Affinity Partners’ fundraising in the Middle East – Kushner secured a $2 billion investment for his firm from Saudi Arabia’s sovereign wealth fund in 2021— in light of Kushner’s government work.
Neither Kushner nor Affinity Partners responded to the congressmen’s earlier request.
Tracing Kushner’s company’s links to a firm with stakes in Israeli weapon suppliers
Tracing Kushner’s company’s links to a firm with stakes in Israeli weapon suppliers
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The House Committee on Oversight and Government Reform is the main investigative committee in the House but the minority party requests from lawmakers on the committee are voluntary and can be ignored without legal consequences. Subpoenas can only be authorized by the committee chair or by committee vote. If the balance of power shifts as a result of the midterm elections in November, Democrats would be able to open an official investigation.
After Republicans won the House in 2023, the Oversight Committee, the Judiciary Committee and the Ways and Means Committee opened similar investigations into Hunter Biden’s business dealings overseas and alleged he was profiting from his father’s presidency.
This story was updated with additional details from Garcia’s letter and further context on his holdings.