Jared Kushner Rejects CNN Claims of Conflict of Interest in Business Dealings

Jared Kushner, former President Donald Trump's son-in-law and a key negotiator during the Trump administration, has publicly refuted claims made by CNN regarding potential conflicts of interest between his overseas business ventures and his government work. Kushner, who served as an unpaid outside advisor, stated that the CNN report was "deeply misleading" and reiterated his commitment to focusing on his work.

The controversy centers on Kushner's private equity firm, Affinity Partners, and its significant investment in Phoenix Financial, an Israeli company managing pensions, insurance, and savings for millions. CNN reported that Phoenix Financial has invested hundreds of millions in Elbit Systems, Israel's largest military manufacturer, which has stakes in various defense firms. Some of these firms have reportedly indicated that the Gaza war has positively impacted their businesses.

Kushner, however, has countered these assertions, emphasizing that Affinity Partners does not own the defense companies highlighted in CNN's story. He described Phoenix Financial as comparable to U.S. firms like Vanguard or Fidelity, managing retirement savings for Israelis, and stated that he has no role in the investment decisions made by Phoenix. "The savers don’t choose the individual investments, and neither do I," Kushner explained.

He further noted that Phoenix Financial has performed well for Affinity and its investors, showing a return of more than five times the initial investment. Kushner's firm first invested in Phoenix in 2024 and increased its position shortly before Trump's inauguration in January 2025. By July 2025, Affinity's holding was valued at over $1 billion, and the firm later sold a portion for over $340 million.

CNN's report also raised ethical questions due to Kushner's role in overseeing the Trump administration's efforts in Gaza, including proposals for rebuilding the strip. Critics have accused Kushner of potential impropriety, though CNN stated it found "no indication that Kushner’s actions as a diplomat directly affected the investments reviewed."

Kushner has maintained that his position as a volunteer envoy allowed him to avoid the financial disclosures required of other government employees, thereby circumventing deeper scrutiny. He has been actively involved in Gaza discussions since last spring and advised Trump on U.S.-Israel relations and the future of the region. Administration officials have credited Kushner with playing a role in securing a Gaza ceasefire last fall and in developing plans for the strip's reconstruction and tourism potential.

Democratic lawmakers have indicated intentions to investigate Kushner and his business dealings should they gain control of Congress in the midterm elections. Maryland Congressman Jamie Raskin has previously described the combination of private business and public diplomacy as "completely irreconcilable and unethical."