Jared Kushner Plans Gaza’s Future While His Firm Owns a Piece of the War

By Rachel Hurley October 2nd, 2026

The peace envoy’s fund is the top owner of Israel’s war-supplier investor.

I have been doing so much work on the xAI files that I have gotten way behind on the GriftMatrix - but I just caught up on what Jared Kushner’s been up to - and I think it’s worth talking about.

Kushner is helping decide Gaza’s future, and his firm is the top owner of a company with $456 million in Israel’s war suppliers.

Yep, he’s multitasking.

CNN followed the money through a company called Phoenix Financial. Phoenix is a big Israeli insurance and investment firm. CNN found it holds at least $456 million in nine companies that supply Israel’s military.

That count comes from a June 30 snapshot. It skips retirement accounts, mutual funds and bonds, so the real number’s probably bigger.

Kushner’s private equity firm is called Affinity Partners. It’s Phoenix’s biggest shareholder.

So, here’s how it seems to all connect - it’s a chain. Gulf money goes into Affinity. Affinity owns a big chunk of Phoenix. Phoenix owns stock in the companies making the weapons.

Now let’s look at what’s in the pile.

The biggest piece is Elbit Systems, at $265.1 million.

Elbit makes ammo, bombs and military electronics. Next Vision makes cameras for military drones, and Phoenix’s stake there is $68.3 million.

Bet Shemesh Engines builds engines for Israeli warplanes, and that stake is $55.8 million.

The rest includes a company that makes fuses for artillery shells, plus tank parts makers, Boeing and Caterpillar.

Elbit doesn’t hide what pays the bills. In 2025, its land weapons sales jumped 38%, mostly from ammo sold in Israel and Europe. In the quarter that ended in June, those sales were up another 32%, mainly from ammo sold in Israel.

Now let’s look at the dates.

In July 2024, Affinity bought about 5% of Phoenix. It also got the right to buy another 5% if Israel’s regulators said yes.

In mid-January 2025, they said yes. That was five days before Trump was sworn in again. Affinity’s stake hit almost 10%, but regulators capped its vote at 5%.

In July 2026, Affinity sold a quarter of its shares for about 1.05 billion shekels. Latham & Watkins, the law firm for the bank that ran the sale, said it let Affinity return everything its investors originally put into the Phoenix deal. It still kept 7.4%, and it’s still Phoenix’s biggest shareholder.

The investors got their money back. Kushner’s firm kept the biggest slice.

Now, that billion shekels isn’t Kushner’s personal profit. Affinity’s SEC filing says it charges investors up to 2% a year to run their money. It can also take up to 20% of the gains, but only after investors get their money back plus a set return. We don’t know what this deal paid him, cause he hasn’t told us.

Now let’s go back to where the money came from.

In 2021, right after Kushner left the White House, Saudi Arabia’s wealth fund put $2 billion into Affinity. That’s the money that everyone and their mom thinks is pretty suspicious - even many Republicans.

The fund’s own screening panel had doubts, and a board led by Crown Prince Mohammed bin Salman overruled them. I wrote about this in April. Rep. Jamie Raskin says about 99% of Affinity’s money now comes from foreign investors, including government funds in Saudi Arabia, the UAE and Qatar.

Getting a meeting with a fund manager is one thing. Getting a meeting with a fund manager who has the president’s ear is a much better product.

Now look at his other job.

On Jan. 16th, 2026, the White House put Kushner on two boards under Trump’s Board of Peace. One’s called the Executive Board, and the other’s called the Gaza Executive Board. The White House said members would cover stuff like rebuilding, bringing in investment and raising big money. So money is literally part of his job.

For people in Gaza, rebuilding means a home and running water. For an investment fund, it means a new market opening up. One guy at the table is tied to both.

Kushner’s lawyer told CNN he’s never told Phoenix what to buy or sell, and he’s never sat on its board. But he knows what those investments are - he knows what those companies make. Saying he doesn’t direct the investments as a cover is ridiculous. That’s like owning stock in SpaceX and then saying that you have no interest in AI.

It’s like leaving a loaded gun on your front porch and then trying to separate yourself from the responsibility of what happens next.

His connection to Phoenix is directly related to what he stands to gain while he helps shape the whole region.

And he stands to gain a lot.

In February 2024, at Harvard, he defended Israel’s invasion and described its approach as “smart to move slowly and deliberately.” He also argued that Israel had made unusually extensive efforts to protect civilians.

If his opinion has changed - I could not find any evidence of it.

Trump named Kushner a “Special Envoy for Peace” in February. Steve Witkoff has that same title, and Witkoff filed a public financial disclosure. The watchdog group CREW says Kushner’s title means he has to file one too. I couldn’t find one he’s filed, and reports say the White House treats him as a volunteer.

Congress has asked about this too. Sen. Ron Wyden and Rep. Robert Garcia opened an inquiry on March 19. Raskin opened his own on April 16.

The Italian outlet IrpiMedia flagged the Phoenix and Elbit link before CNN did. Months later, reporters are still piecing it together from stock filings. Great system.

The fix isn’t hard. The White House should post his disclosures and explain his ethics setup. It should name his investors, show what the fund pays him and set rules for when he has to step away. If he can’t keep the two jobs apart, they should find somebody else for the public one.

We all know that’s never gonna happen though.

As it turns out, being the president’s son-in-law seems to let you get away with murder.

Search every title

Jared Kushner Plans Gaza’s Future While His Firm Owns a Piece of the War

The peace envoy’s fund is the top owner of Israel’s war-supplier investor.

Sources