Story perspectives

CNN: Kushner’s Affinity Partners becomes Phoenix Financial’s largest shareholder

By Drooid · Oct 5, 2026, 8:04 AM UTC · How we work

Left

Kushner weapons profit

On October 1, 2026 CNN reported that Jared Kushner’s firm Affinity Partners became the largest shareholder of Israel’s Phoenix Financial, a fund investing in Israeli military suppliers.
The holding ties Kushner’s Gaza-negotiation role to profits from weapons firms used in the ongoing bombardment of civilian areas.
Affinity Partners holds a 7.4 percent stake in Phoenix, valued at over $1 billion.
A July 2025 sale of one-third of the holding generated $340 million, roughly a five-fold return.

Right

Kushner Refutes Defense Link

CNN reported on Oct. 1, 2026 that Jared Kushner’s firm Affinity Partners is the largest shareholder in Phoenix Financial.
Kushner said story mischaracterized Phoenix as a defense firm, and White House spokesperson called the claim a tired Democratic narrative.
He posted on X that CNN’s headline implied his diplomatic work benefited Phoenix’s investments.
Phoenix is described as Israel’s Vanguard, managing about $220 billion for millions of savers.

Center

Gulf Sovereign Funding

On October 1, 2026 CNN reported that Jared Kushner’s private-equity firm Affinity Partners became the largest shareholder in Israel’s Phoenix Financial.
Saudi Arabia’s Public Investment Fund and UAE and Qatari sovereign-wealth funds contributed more than $2 billion to Affinity, financing its Phoenix investment.
Affinity bought 4.95% for $128.5 million in July 2024, then raised it to about 9.87% by early 2025.
Phoenix’s portfolio invests $456 million in nine Israeli defense firms, including $265 million in Elbit Systems.

Blindspot

Saudi Arabia’s Public Investment Fund, together with sovereign-wealth funds from the United Arab Emirates and Qatar, contributed more than $2 billion to Affinity Partners, financing its stake in Israel’s Phoenix Financial that invests in military-equipment companies.
Within this story's sources, this angle appears mainly in Center-leaning coverage and receives less attention in Left-leaning and Right-leaning coverage.

History

Historical Context

After the Supreme Court’s 5-4 decision in Citizens United v. FEC (January 2010), the Court struck down limits on corporate independent expenditures, prompting the rise of super-PACs and driving outside election spending to $3.3 billion by 2020. That climate lets firms such as Jared Kushner’s Affinity Partners, backed by Saudi Arabia’s Public Investment Fund and Gulf sovereign-wealth pools, purchase a 9.87 % stake in Israel’s Phoenix Financial.

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Kushner weapons profit

On October 1, 2026 CNN reported that Jared Kushner’s firm Affinity Partners became the largest shareholder of Israel’s Phoenix Financial, a fund investing in Israeli military suppliers.
The holding ties Kushner’s Gaza-negotiation role to profits from weapons firms used in the ongoing bombardment of civilian areas.
Affinity Partners holds a 7.4 percent stake in Phoenix, valued at over $1 billion.
A July 2025 sale of one-third of the holding generated $340 million, roughly a five-fold return.

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