Jared Kushner has pushed back against a CNN report that questioned whether his overseas business interests could conflict with his work in Donald Trump’s administration.
CNN reported that Kushner, Trump’s son-in-law and an unpaid outside negotiator, could face a potential conflict of interest because he helps oversee the administration’s Gaza policy while investing in Israeli companies whose finances could be affected by those negotiations.
Because Kushner serves as an outside adviser rather than a government employee, he is not subject to the same financial disclosure requirements and scrutiny imposed on many federal officials.
At the center of the controversy is Affinity Partners, Kushner’s private equity firm. Affinity is the largest shareholder in Phoenix Financial, an Israeli financial services giant valued at more than $100 billion that manages pensions, insurance and savings for millions of people.
After reviewing public Israeli records, CNN reported that Phoenix had invested hundreds of millions of dollars in Elbit Systems, Israel’s largest military manufacturer, which itself holds stakes in other defense companies.
Several of those defense firms have reportedly said the war in Gaza has helped drive their business.
Critics have accused Kushner of benefiting improperly, although CNN said it “found no indication that Kushner’s actions as a diplomat directly affected the investments reviewed.”
“For the last 10 years, I have ignored false and misleading stories about me and focused on the work,” Kushner, who rarely posts online, wrote in a forceful statement.
President Donald Trump’s son-in-law Jared Kushner (pictured with wife Ivanka and brother-in-law Eric) lashed out at CNN for a ‘misleading’ story linking his private equity firm to his foreign policy work
CNN’s report noted Kushner’s investment in Israeli firm Phoenix Financial, which reportedly has invested in Israeli defense companies. The report notes Kushner’s ties to Gaza peace talks and his company’s ties to Israeli weapons manufacturers
CNN’s Kaitlan Collins has been a frequent target of President Trump and the White House
“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, not to every allegation.”
In a separate post addressing the report, Kushner called the CNN article “deeply misleading” and stressed that Affinity “does not own the defense companies highlighted in CNN’s story.”
Kushner has avoided the more extensive conflict-of-interest review that would apply to a formal government employee by serving as a volunteer envoy rather than taking an official position requiring him to disclose his finances.
Affinity first bought a stake in Phoenix in 2024, then nearly doubled its position shortly before Trump’s inauguration in January 2025, according to CNN.
By July 2025, Affinity’s stake was valued at more than $1 billion. The firm later sold part of its holding for over $340 million, reportedly generating a substantial profit.
In a social media post, Kushner characterized Phoenix as a conventional financial services company rather than a defense business.
KEEP READING: King Charles Embraces the Bahamas’ Vibrant Junkanoo Parade
“Think of Phoenix as the Israeli equivalent of Vanguard or Fidelity. It manages the retirement savings of millions of Israelis. The savers don’t choose the individual investments, and neither do I.”
“I have no role in deciding what Phoenix buys or sells. It has performed very well for Affinity and our investors, up more than five times since our initial investment,” the president’s son-in-law added.
Kushner has overseen the US’s Gaza policy while also pitching projects to rebuild the strip and turn it into a tourist destination
Democrats have vowed to target Kushner and Trump’s Special Envoy Steve Witkoff with investigations should they win the midterm elections
As a White House negotiator, Kushner has played a prominent role in Gaza discussions since last spring. He has advised Trump on the US-Israel relationship and the territory’s future.
Several administration officials have credited Kushner with helping secure the Israel-Gaza ceasefire reached last fall.
The private equity executive has also presented proposals to rebuild Gaza and transform it into a tourist destination.
Democratic lawmakers have promised to examine Kushner’s business dealings if they regain control of Congress in the midterm elections.
Maryland Democratic Representative Jamie Raskin has described the combination of private business interests and public diplomacy as “completely irreconcilable and unethical.”
The White House and a representative for Kushner were contacted for comment.
CNN has frequently faced criticism and attacks from Trump and the White House.
Trump lashed out at CNN anchor Kaitlan Collins as he arrived with Melania Trump at the United Nations General Assembly in New York in September.
“You shouldn’t be here,” the president told Collins after the administration barred CNN from access to the White House on Friday.
“It’s an honor to be here, I’m surprised that CNN is here covering me,” Trump said as Collins questioned him about the Iran war. “You said you weren’t gonna cover me, you shouldn’t be covering me.”
The president then said, “We’re making a lot of progress, our country is doing really, really well,” before walking away with Melania.
The heated exchange followed the administration’s decision to bar CNN, MS NOW and Politico from the White House over coverage Trump had labeled “fake news.”
The dispute then intensified when the three outlets sued the administration, alleging that the ban violated their First Amendment rights. The television news pool, comprising ABC, CBS, Fox, CNN and NBC, also said it would boycott White House events in solidarity.
