Story perspectives

CNN: Kushner’s Affinity Becomes Phoenix’s Biggest Shareholder

By Drooid · Oct 3, 2026, 2:20 AM UTC · How we work

Left

Profiting From War

On October 2 2026 CNN reported that Jared Kushner’s firm Affinity Partners became the largest shareholder in Israeli Phoenix Financial, which holds defense-related investments.
Critics say Kushner’s dual role lets him profit from wars he negotiates, creating a conflict-of-interest risk for U.S. taxpayers.
Kushner called Phoenix “best investment” and maintained a very active dialogue with its management.
Affinity sold a quarter of its Phoenix stake in July for $340 million, a five-fold return.

Right

Phoenix Not Defense

CNN reported on October 2, 2026 that Jared Kushner’s firm Affinity Partners is the largest shareholder in Israeli Phoenix Financial, which holds defense-related investments.
Kushner said the story mischaracterizes Phoenix as a defense firm and insisted it is a regulated financial institution comparable to Vanguard.
The X post said CNN’s headline misrepresents work and hides details behind a paywall.
CNN found no evidence Kushner’s diplomatic actions directly influenced Phoenix’s investment choices.

Blindspot

Affinity Partners’ capital comes chiefly from Gulf sovereign-wealth funds, notably about $2 billion from Saudi Arabia and $1.5 billion from Qatar and the United Arab Emirates.
Within this story's sources, this angle appears mainly in Left-leaning coverage and receives less attention in Right-leaning coverage.

History

Historical Context

Halliburton, the world’s second-largest oil-service firm, earned criticism for war profiteering after the 2003 Iraq invasion, securing $39.5 billion in federal contracts while its former CEO, Dick Cheney, served as U.S. vice president. The company’s KBR unit had previously won major logistics contracts, illustrating a long-standing pattern of close ties between defense procurement and political leaders.

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Profiting From War

On October 2 2026 CNN reported that Jared Kushner’s firm Affinity Partners became the largest shareholder in Israeli Phoenix Financial, which holds defense-related investments.
Critics say Kushner’s dual role lets him profit from wars he negotiates, creating a conflict-of-interest risk for U.S. taxpayers.
Kushner called Phoenix “best investment” and maintained a very active dialogue with its management.
Affinity sold a quarter of its Phoenix stake in July for $340 million, a five-fold return.

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