Jared Kushner Denounces CNN Report on Business Ties Amid Gaza Conflict

Jared Kushner has publicly challenged a CNN report that raised ethical questions about his overseas business ventures and their potential connection to his role in Donald Trump's administration, particularly concerning the Gaza conflict. Kushner, who served as an unpaid outside adviser and negotiator during the Trump presidency, stated that the CNN report was "deeply misleading" and repeated "old lies."

At the core of the controversy is Kushner's private equity firm, Affinity Partners, which is a major shareholder in Phoenix Financial, an Israeli company managing retirement savings for millions. CNN reported that Phoenix has invested in Elbit Systems, Israel's largest military manufacturer, and that several defense firms have publicly noted increased business activity during the Gaza war. Critics have accused Kushner of potential conflicts of interest due to his diplomatic involvement in Gaza while his firm has investments that could benefit from the conflict.

Kushner, who rarely posts on social media, addressed the allegations directly, stating that "the cycle has gotten out of control where old lies get repeated as fact, new ones get added, and the record becomes increasingly distorted." He clarified that Affinity Partners does not directly own the defense companies highlighted in the CNN story and described Phoenix Financial as a traditional financial services firm, comparable to Vanguard or Fidelity, managing investments for millions of Israelis. Kushner emphasized that he has no direct role in Phoenix's investment decisions and that the firm has performed well for Affinity and its investors. CNN, however, stated in its report that it found "no indication that Kushner’s actions as a diplomat directly affected the investments reviewed."

Kushner's role as a volunteer envoy allowed him to avoid the financial scrutiny typically required of government employees. His firm made its initial investment in Phoenix in 2024, increasing its stake shortly before Trump's inauguration in January 2025. By July 2025, the holding was valued at over $1 billion, and a partial sale reportedly yielded a significant profit for the company.

During his time in the White House, Kushner was deeply involved in discussions regarding Gaza and advised Trump on U.S.-Israel relations and the future of the region. He has also proposed plans for rebuilding Gaza and developing it as a tourist destination. His involvement in Middle East peace negotiations has been lauded by some administration officials.

The report also touches on a history of tension between CNN and the Trump administration. Trump himself has been critical of CNN's coverage, previously barring the network from White House access and engaging in heated exchanges with its journalists.

Potential future investigations into Kushner's business dealings have been signaled by Democratic lawmakers, who have vowed to scrutinize such arrangements should they gain control of Congress in the midterm elections. Maryland Democratic Congressman Jamie Raskin has called the combination of private business and public diplomacy "completely irreconcilable and unethical."