Jared Kushner publicly criticized CNN’s reporting about his investment firm, Affinity Partners, and Israeli financial company Phoenix Financial, saying CNN’s story and headline were “deeply misleading.” CNN reported that Affinity’s exposure to Israeli military suppliers was indirect, through its Phoenix investment—not through direct stakes in the suppliers it identified. The reporting and Kushner’s response establish a public dispute, not a finding that his diplomatic work caused investment gains.
What Kushner said about CNN
In posts reproduced by Showbiz411 on October 2, 2026, Kushner said he would sometimes respond to stories he considered false or misleading. He wrote, “For the last 10 years, I have ignored false and misleading stories about me and focused on the work.”
He characterized CNN’s coverage this way: “CNN published a deeply misleading story and headline suggesting that my diplomatic work in the Middle East somehow benefited investments in Israeli defense companies.” Those descriptions are Kushner’s claims about the coverage, not independent findings that CNN’s reporting was false. Showbiz411’s October 2 account reproduces portions of his posts.
What CNN reported about the investment
CNN’s October 2 transcript describes an investment chain involving Affinity Partners, Phoenix Financial, and companies supplying military equipment to Israel. CNN said Affinity became Phoenix’s largest shareholder after doubling its stake in January 2025. Phoenix, in turn, had investments in hundreds of companies.
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After reviewing thousands of financial records, CNN said it identified at least nine companies among Phoenix’s investments that supplied military equipment to Israel. CNN reported that Phoenix held more than $456 million in shares across those nine companies and named Elbit Systems and Israel Shipyards as examples. Crucially, CNN said Affinity did not directly own stakes in the nine suppliers; its potential financial exposure was through its stake in Phoenix. CNN’s October 2 transcript gives the account of the Phoenix relationship and suppliers.
What CNN reported about the 2026 sale
CNN reported that Affinity sold one quarter of its Phoenix stake in July 2026 for more than $340 million, a return of more than five times the original investment. CNN also said Affinity remained Phoenix’s largest shareholder after the sale. These are figures from CNN’s reporting about Affinity’s transaction; they should not be read as Kushner’s personal cash earnings. CNN’s October 2 transcript discusses the sale and return.
CNN also reported that the market values of all nine identified suppliers had risen over the prior year. That reported increase does not establish that the companies’ gains—or Affinity’s return on its Phoenix investment—were caused by the war or by Kushner’s diplomatic activity.
How Kushner, Phoenix, and the White House responded
Kushner’s attorney
Kushner’s attorney told CNN that Kushner was “not involved in Phoenix’s decisions on where to invest,” was not on Phoenix’s board, and had never held a management role there. CNN also reported the attorney’s acknowledgment that Kushner had been in active dialogue with Phoenix, speaking with its team every few weeks about the company, market trends, and strategic opportunities. The attorney said Kushner had significantly reduced those interactions as his public service and diplomatic activity increased. These statements address different matters: the attorney denied a role in investment decisions while acknowledging discussions with the company.
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Phoenix Financial
CNN said Phoenix declined to answer its questions. A spokesperson described Phoenix as regulated and said shareholder value derived primarily from operating performance rather than investment returns.
The White House
The White House told CNN: “Jared Kushner’s personal business activities have nothing to do with his diplomatic engagements.” These are the parties’ attributed responses; the reporting does not provide an independent adjudication of the dispute. CNN’s October 1 transcript includes the institutional responses.
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What the reporting does—and does not—establish
- Reported connection: CNN described Affinity’s investment in Phoenix and Phoenix’s reported holdings in the nine identified suppliers. It said Affinity did not directly hold stakes in those suppliers.
- Attributed denial: Kushner’s attorney said he did not participate in Phoenix’s investment decisions, while acknowledging periodic conversations with Phoenix’s team.
- No established causal link: The cited reporting does not establish that Kushner’s diplomacy caused Phoenix’s or Affinity’s investment gains.
- No legal finding: The reporting and public responses do not amount to a legal finding of misconduct.
The available CNN transcripts and Showbiz411 account also do not establish whether CNN separately issued a public response to Kushner’s posts.
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