Jared Kushner has pushed back against CNN after the network questioned whether his overseas investments create an ethical conflict with his work for Donald Trump’s administration.
CNN reported that Kushner, Trump’s son-in-law and an unpaid outside negotiator, could face a potential conflict because he is helping oversee the administration’s Gaza efforts 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 and scrutiny requirements imposed on many federal officials.
At the center of the dispute 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.
According to CNN’s review of public Israeli records, Phoenix has invested hundreds of millions of dollars in Elbit Systems, Israel’s largest military manufacturer, which also holds interests in other defense companies.
Several of those defense firms have reportedly acknowledged that the war in Gaza benefited their businesses.
Critics have accused Kushner of profiting 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 sharply worded 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 another post addressing the report, Kushner called the CNN article “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 has also allowed Kushner to avoid the deeper conflict-of-interest scrutiny that would come with taking an official government position and filing detailed financial disclosures.
CNN reported that Affinity bought its initial stake in Phoenix in 2024, then nearly doubled its holding shortly before Trump’s inauguration in January 2025.
By July 2025, Affinity’s Phoenix investment was worth more than $1 billion. The firm later sold part of its stake for over $340 million, reportedly generating a substantial profit.
Kushner characterized Phoenix in a social media post as a conventional financial services company rather than a defense business.
“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
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.
