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What Kushner said about CNN
In posts described by Showbiz411 on October 2, 2026, Kushner said he would sometimes respond to stories he considered false or misleading. Showbiz411 reproduced his statement: “For the last 10 years, I have ignored false and misleading stories about me and focused on the work.”
He characterized CNN’s coverage this way: “CNN published a deeply misleading story and headline suggesting that my diplomatic work in the Middle East somehow benefited investments in Israeli defense companies.” Those are Kushner’s assessments of the coverage, not findings that the reporting was false. Showbiz411’s October 2 account reproduces portions of his posts.
What CNN reported about the investment
CNN reported that Affinity Partners became Phoenix Financial’s largest shareholder after doubling its stake in January 2025. Phoenix, rather than Affinity directly, held shares in the defense suppliers CNN identified. CNN said its review of thousands of financial records found at least nine companies supplying military equipment to Israel among Phoenix’s investments. It named Elbit Systems and Israel Shipyards as examples. CNN reported that Phoenix held more than $456 million in shares across those nine companies; that figure refers to Phoenix’s holdings, not direct holdings by Affinity or Kushner. CNN’s October 2 transcript describes the relationship and the companies it identified.
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The ownership chain matters
The reported connection is Affinity Partners’ investment in Phoenix Financial, followed by Phoenix’s investments in the suppliers. CNN explicitly said Affinity did not directly own stakes in the nine suppliers it identified. The reporting therefore describes indirect exposure through Phoenix, not Kushner personally buying shares in those companies.
What CNN reported about the 2026 sale
CNN reported that Affinity sold one quarter of its Phoenix stake in July 2026 for more than $340 million, a return of more than five times the original investment, and remained Phoenix’s largest shareholder afterward. These are CNN’s reported figures for the sale of part of Affinity’s Phoenix stake; they should not be recast as Kushner’s personal cash earnings. CNN also reported that the nine companies’ market values had risen over the preceding year. That observation does not establish that the entire rise—or Affinity’s reported return—was caused by the war. CNN’s October 2 transcript covers the sale and return.
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How Kushner, Phoenix and the White House responded
Kushner’s attorney
Kushner’s attorney told CNN that Kushner was not involved in Phoenix’s investment decisions, was not on its board and had never held a management role there. CNN quoted the attorney saying Kushner is “not involved in Phoenix’s decisions on where to invest.” The attorney also acknowledged that Kushner had been in active dialogue with Phoenix, speaking with its team every few weeks about the company, market trends and strategic opportunities. The attorney said those interactions were significantly reduced as Kushner’s public service and diplomatic activity increased.
Phoenix Financial
CNN reported that Phoenix declined to answer its questions. A spokesperson described Phoenix as regulated and said shareholder value derived primarily from operating performance rather than investment returns. That is the company’s account of its business, not an independent finding about the investment relationship.
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The White House
The White House told CNN that “Jared Kushner’s personal business activities have nothing to do with his diplomatic engagements.” This, too, is an attributed response rather than an independent adjudication. CNN’s October 1 transcript records the institutional responses: CNN transcript, October 1, 2026.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What the reporting establishes—and what it does not
The central issue is whether CNN’s presentation of the indirect investment connection and its timing alongside Kushner’s diplomacy was fair. The sources establish that Kushner publicly objected, that CNN reported Affinity’s Phoenix investment and Phoenix’s holdings in suppliers, and that Kushner’s attorney, Phoenix and the White House offered responses. They do not establish that Kushner personally directed Phoenix’s investment choices, that his diplomatic work caused the reported investment return, or that CNN’s reporting amounted to a legal finding of misconduct. The available materials also do not establish whether CNN separately replied to Kushner’s posts.
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