Money Grab/Charge for access to the president
Kushner’s firm sells $343 million of an Israeli insurer, a 5x return, while he negotiates Gaza for Trump
— Kushner's firm sells $343M of an Israeli insurer, a 5x return, while he negotiates Gaza for Trump.
Jared Kushner’s Affinity Partners, funded mostly by Saudi, Qatari and Emirati government money, sold a quarter of its stake in Phoenix Financial in July and got back everything it had put in. Kushner serves as an unpaid envoy and files no financial disclosure.
What happened
On July 27, 2026, Affinity Partners sold about a quarter of its stake in Phoenix Financial, Israel’s largest insurer, for about NIS 1.05 billion, or $343 million. The buyers were three institutional investors led by Fidelity, Calcalist reported. Affinity said the sale returned its entire original investment, about $300 million, to its investors.
Affinity bought half its stake in July 2024 and the other half in January 2025, after Israel’s Capital Markets Authority approved it in the month Trump returned to office. After the sale it still holds 7.4%, the largest stake, worth about $1.06 billion. Affinity says the investment is up about fivefold including dividends.
On October 1, 2026, CNN reported that Phoenix holds more than $456 million in nine companies that supply Israel’s military, while Kushner negotiates on Gaza as Trump’s envoy. Because he serves as an unpaid volunteer, he files no public financial disclosure.
Who benefited
Affinity Partners and its investors, who recovered their whole original investment in Phoenix and kept shares worth about $1.06 billion. Kushner founded and runs Affinity. The $343 million went to the firm and its limited partners; how much reaches Kushner is not public.
Who wanted something
Affinity’s money comes mostly from the sovereign funds of Saudi Arabia, Qatar and the UAE, governments with their own interests in the Gaza talks Kushner helps lead. Kushner says Phoenix is a regulated financial institution, the “Israeli equivalent of Vanguard or Fidelity,” and that Affinity does not choose its investments.
Who lost out
Americans have no disclosure showing what Kushner earns from Affinity while he negotiates for the United States. CNN found no evidence his diplomacy influenced Phoenix’s investments, and no regulator has found wrongdoing.
Why it matters
A government job would require Kushner to disclose his finances; his volunteer envoy role does not, CNN reported. Kushner’s firm cashed in $343 million in a country whose war he is negotiating, with money from Gulf governments that have their own interests in those talks.
Sources Affinity Partners (PR Newswire) (primary)Calcalist (Ctech)GlobesCNN
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