Kushner’s Gaza ‘Board of Peace’ role under fire over investment firm’s stake in Israel’s war machine: Report
Jared Kushner’s role on US President Donald Trump’s so-called Board of Peace for Gaza has come under fire after a report revealed that his investment firm, Affinity Partners, remains the largest shareholder in Phoenix Financial, an Israeli company whose portfolio includes firms supplying military equipment to Israel.
Kushner’s Affinity Partners doubled its investment in the Tel Aviv-based Phoenix Financial shortly before Trump returned to office, CNN reported on Thursday.
The portfolio of Phoenix includes at least nine companies supplying the Israeli military with drones, artillery components, warships and other equipment.
Phoenix’s investments include about $265 million in Elbit Systems, Israel’s largest arms manufacturer, whose shares have surged since the Gaza genocide began, as well as more than $68 million in Next Vision, a manufacturer of cameras for military drones.
Phoenix has also invested at least $40 million in Reshef Technologies, which makes electronic fuses for artillery shells and has reported $165 million in orders from Israel’s war ministry since war on Gaza began.
Its portfolio further includes Israel Shipyards, whose vessels have been used by the Israeli navy to launch missiles at Gaza, and Ashot Ashkelon, which supplies components for Israeli tanks and armored vehicles.
The financial overlap is particularly significant as Kushner has played a central role in the US administration’s "Gaza diplomacy," including negotiations with Israeli prime minister Benjamin Netanyahu regarding the ongoing siege of the enclave.
Cynthia Brown, chief ethics counsel at Citizens for Responsibility and Ethics in Washington, told CNN, “the people profiting should not be the people making the decisions.”
Concerns have also been raised by US lawmakers, with Representative Jamin Ben Raskin warning that Kushner’s simultaneous role as a US negotiator and private investor creates a “glaring and incurable conflict of interest.”
Kushner’s lawyer rejected the concerns, saying he had “never participated in or directed Phoenix’s decisions” and had no role in decisions to buy, hold or sell the nine companies identified in the report.
The lawyer nevertheless acknowledged that Kushner “regularly spoke with Phoenix management about the company, broader market trends and potential strategic opportunities.”
Kushner himself said in 2025 that he maintained a “very active dialogue” with Phoenix executives, raising questions over the extent of his engagement with a company whose investment portfolio includes firms supplying military equipment to Israel.
The financial ties have come to light as Israel’s genocidal war on Gaza has killed at least 74,000 Palestinians and wounded more than 174,000 others, most of them women and children.
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