Kushner’s Phoenix Stake Draws Questions Over Gaza Diplomacy

Jared Kushner’s investment firm, Affinity Partners, held a 7.4% stake in Israeli financial group Phoenix Financial worth more than $1 billion in July, according to a review of Israeli financial filings. The reported investment has drawn conflict-of-interest questions as Kushner takes part in U.S. diplomacy concerning the Gaza war. In July, Affinity sold about a quarter of its Phoenix holding for more than $340 million, a return of more than five times its initial investment, while remaining Phoenix’s largest shareholder, the review found. Phoenix holds investments in at least nine companies that supply equipment or services to Israel’s military, including a stake in defense contractor Elbit Systems valued at at least $265 million. The figures and company links come from the same review of financial filings; they do not establish that Affinity itself owns shares in those military suppliers. The reviewed material gives differing totals for Phoenix’s holdings across the nine companies, so no combined figure is stated here.