Jared Kushner has responded angrily to CNN after the network examined potential ethical concerns surrounding his international investments and his role in Donald Trump’s administration.
CNN reported that Kushner, Trump’s son-in-law and an unpaid outside negotiator, may face questions about a possible conflict of interest. He has been involved in the administration’s Gaza policy while holding investments in Israeli companies whose financial performance could be influenced by related negotiations.
Because Kushner serves as an external adviser rather than a formal government employee, he is not subject to the same financial disclosure requirements and scrutiny applied to many officials.
At the center of the controversy is Affinity Partners, the private equity firm founded by Kushner. Affinity is the biggest shareholder in Phoenix Financial, a major Israeli financial services company valued at more than $100 billion that manages pensions, insurance products and savings for millions of people.
After reviewing Israeli public filings, CNN reported that Phoenix has invested hundreds of millions of dollars in Elbit Systems, Israel’s largest defense manufacturer, which itself holds interests in several other military companies.
Some of those defense businesses have publicly pointed to the Gaza war as a factor that benefited their operations.
Critics have consequently accused Kushner of benefiting improperly. CNN, however, 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.
Jared Kushner, Donald Trump’s son-in-law, pictured with wife Ivanka and brother-in-law Eric, criticized CNN over what he called a “misleading” report connecting his investment firm to his foreign policy work
CNN examined Kushner’s investment in Israeli financial company Phoenix Financial, which has reportedly invested in defense firms, alongside his involvement in Gaza peace negotiations and reconstruction efforts
CNN anchor Kaitlan Collins has frequently faced criticism from President Trump and members of 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 another post addressing the report, Kushner called the CNN story “deeply misleading” and insisted that Affinity “does not own the defense companies highlighted in CNN’s story.”
His decision to serve as a volunteer envoy, rather than take an official government position, has allowed Kushner to avoid the more extensive financial disclosures that would normally be required of a federal employee.
According to CNN, Affinity first acquired part of Phoenix in 2024 and nearly doubled its investment shortly before Trump returned to office in January 2025.
By July 2025, Affinity’s stake was valued at more than $1 billion. The firm later sold part of its holding for more than $340 million, reportedly generating a substantial profit.
Kushner said on social media that Phoenix should be understood primarily as a financial services company, not a defense business.
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“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 played a role in shaping US policy on Gaza while also promoting plans to rebuild the territory and transform parts of 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
Serving as a negotiator for the White House, Kushner has been deeply involved in Gaza discussions since last spring. He has advised Trump on the US-Israel relationship and the future of Gaza.
Many administration officials have lauded Kushner as fundamental in landing the Israel-Gaza ceasefire last fall.
The private equity boss has also proposed plans to rebuild Gaza and make it a destination for tourists.
Democratic lawmakers have vowed to investigate Kushner and his business dealings should they take control of Congress in the midterms.
Maryland Democratic Congressman Jamie Raskin has said the mix of private business and public diplomacy is ‘completely irreconcilable and unethical.’
The White House and a representative for Kushner were contacted for comment.
CNN has been a frequent target of President Trump and the White House.
Trump exploded at CNN star Kaitlan Collins as he arrived alongside Melania at the United Nations General Assembly in New York in September.
‘You shouldn’t be here,’ the president told the journalist after the administration barred CNN from White House access on Friday.
‘It’s an honor to be here, I’m surprised that CNN is here covering me,’ Trump said as Collins questioned him on the Iran war. ‘You said you weren’t gonna cover me, you shouldn’t be covering me.’
The president said ‘we’re making a lot of progress, our country is doing really, really well’ before he walked off with Melania.
The ferocious exchange came after the Trump administration barred CNN, MS NOW and Politico from the White House over coverage Trump branded ‘fake news.’
The impasse tghen escalated as the three outlets sued the administration alleging the ban breached their First Amendment rights, while the TV pool, made up of ABC, CBS, Fox, CNN and NBC, said that they would boycott White House events in solidarity.