On Friday, Bill Ackman defended Jared Kushner after a report raised questions about the Donald Trump adviser’s investment ties to an Israeli financial company while he works on Middle East diplomacy.
Bill Ackman Backs Jared Kushner
Pershing Square’s CEO took to X and called Kushner a “first-class human being.”
Ackman said the U.S. is “extremely fortunate” to have him representing the country’s interests in negotiations involving peace and hostage returns.
“It is pathetic how people attempt to take down others out of spite, envy, political calculation or otherwise,” Ackman wrote.
Ackman’s comments came after Kushner pushed back against a CNN report examining his investment firm, Affinity Partners, and its stake in Israel-based Phoenix Financial.
Jared Kushner Pushes Back On CNN Report
CNN reported that Affinity is Phoenix’s largest shareholder, with a 7.4% stake worth over $1 billion as of July.
Phoenix has investments totaling more than $456 million across nine companies that supply equipment to Israel’s military, including defense contractor Elbit Systems, the report noted. Affinity does not directly own stakes in those nine companies.
Kushner’s firm sold roughly one-quarter of its Phoenix stake in July for more than $340 million, generating a return of more than five times its initial investment, the report added.
However, the publication said it found “no indication that Kushner’s actions as a diplomat directly affected the investments reviewed.”
Kushner argued that the report’s headline was “deeply misleading,” saying Phoenix is a highly regulated financial institution managing about $220 billion across thousands of investments.
“Think of Phoenix as the Israeli equivalent of Vanguard or Fidelity,” Kushner wrote, adding that he has “no role in deciding what Phoenix buys or sells.”
“For the last 10 years, I have ignored false and misleading stories about me and focused on the work … So from time to time, I’m going to respond,” Kushner said in a follow-up post.
Critics Call For Investigation
Rep. Robert Garcia (D-Calif.), ranking member of the House Oversight Committee, separately called for an investigation.
“Kushner is serving as Trump’s Middle East and Gaza negotiator. This corruption must be investigated,” he said on X.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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