Jared Kushner Turns Political Influence Into Billion-Dollar Private Equity Empire

Jared Kushner has transformed his political connections into a private equity fortune valued at over $1 billion, primarily through his management of Affinity Partners, a fund he founded leveraging ties with former President Donald Trump and Gulf states. Kushner owns 100% of Affinity’s management company and holds a 20% stake in the family real estate business, Kushner Companies, valued at approximately $560 million. His Miami home, purchased for $32 million in 2020, is now worth an estimated $105 million.

Affinity Partners notably sold about 2.4% of its shares in the Israeli insurer Phoenix Holdings for roughly 1.05 billion shekels ($300 million), more than the 932 million shekels initially invested for a 9.9% stake. The fund still holds 7.4% of Phoenix, worth around 3.3 billion shekels ($900 million), plus dividends of about 230 million shekels. Phoenix’s strong financial performance, including a 702 million shekel profit in early 2026 and a 24% return on equity, underpins Affinity’s gains.

Founded in January 2021, Affinity quickly secured $2 billion from Saudi Arabia’s Public Investment Fund, led by Crown Prince Mohammed bin Salman, despite internal concerns over Kushner’s experience and fees. Additional investments came from the UAE and Qatar, bringing total capital raised to $4.6 billion and assets under management to $6.16 billion by the end of 2025. Critics, including U.S. Democrats, have raised concerns about foreign government influence and high management fees, but recent profitable exits like Phoenix challenge claims that Affinity fails to generate commercial value.

Affinity’s Israeli investments include a $110 million stake in Shlomo Group’s vehicle and credit operations, Israel’s largest fleet operator, and Phoenix Holdings. These represent the fund’s most transparent Israeli holdings, with other tech investments undisclosed. Outside Israel, Affinity has invested in UAE digital real estate platform Dubizzle and German fitness equipment maker Ejim, and participated in the $55 billion leveraged buyout of Electronic Arts alongside Saudi and American partners.

Kushner’s political role as a senior advisor to Trump, including brokering the Abraham Accords normalizing relations between Israel and Gulf states, facilitated his access to Gulf sovereign wealth funds. While Kushner frames his political and investment activities as separate, critics argue his commercial success largely stems from political connections. His father, Charles Kushner, who expanded the family real estate empire but served prison time for legal violations, was later pardoned and appointed U.S. ambassador to France and Monaco. Jared Kushner remains active in diplomatic missions, deepening scrutiny of his dual roles.

Overall, Kushner’s trajectory illustrates how political influence, especially through Trump and Gulf relationships, has been converted into substantial private wealth and a growing investment platform with significant stakes in Israeli and global companies.