By October 2025, Kushner was deeply involved in the administration’s Middle East diplomacy.
Phoenix’s holdings in the nine companies were worth more than $456 million, according to CNN’s investigation. By October 2025, Kushner was deeply involved in the administration’s Middle East diplomacy. However, CNN reported that Kushner previously said he had regular discussions with Phoenix executives and met with the company’s team every few weeks.
Several also said the war in Gaza had increased demand for their products. Kushner’s lawyer said he is not on Phoenix’s board, has never held a management position there and does not decide where the company invests. His lawyer said Kushner has reduced his contact with Phoenix management since becoming more involved in public service and diplomatic work.
Jared Kushner has emerged as an important figure in the Trump administration’s efforts to negotiate an end to the Gaza war. At the same time, his private equity firm, Affinity Partners, is the biggest shareholder in an Israeli financial company that has invested in businesses supplying equipment to Israel’s military, a CNN investigation has found. He had been involved in negotiations between Israel and Hamas and appeared in Tel Aviv following the release of hostages.
All nine companies identified by CNN saw their stock prices rise last year.
Critics question the overlap
Cynthia Brown, chief ethics counsel for Citizens for Responsibility and Ethics in Washington, said people who stand to benefit financially from government policy should not also be involved in making those policy decisions. And that is what is happening here,” she said. “There are always people who profit from war or government policies. The difference is that the people profiting should not be the people making the decisions to make that policy.