Borelli disputes the conflict inference from Affinity's indirect defense investments

Joe BorelliPolitical commentator on CNN's Table for Five

Borelli defended Kushner by arguing that Affinity's indirect defense investments were a small part of a large portfolio. He challenged the inference that those holdings established improper influence.

“small part”

Reporting

Open source (opens in a new tab)Borelli disputes the conflict inference from Affinity's indirect defense investments - sourceOctober 3 article, reproduced Joe Borelli exchange and paragraph describing his 'small part' defense
A close-up portrait of Jared Kushner in a dark suit and white shirt, looking to the left in front of a colorful painting.
Credit: U.S. Embassy Jerusalem

Where this statement fits

Does Jared Kushner's Affinity Partners conflict with his role in Middle East negotiations, as congressional Democrats and ethics groups say?

Jared Kushner founded the investment firm Affinity Partners in January 2021. Since 2025 he has taken part in U.S. diplomatic talks on Gaza, Iran and Ukraine. Congressional Democrats, the ethics group CREW and other critics say the two roles conflict. They point to the firm's funding from foreign governments, its stakes in Israeli companies and reports that it sought new capital while he negotiated. Kushner, his lawyers, Affinity and the White House dispute that. A CNN investigation published October 1, 2026 reported that Affinity is the largest shareholder in the Israeli insurer Phoenix Financial, which holds stakes in companies that supply Israel's military, and that CNN found no indication his diplomacy directly affected the investments it reviewed. Kushner replied on October 2 that Phoenix is not a defense company and that he has no role in its investment decisions. The White House says he works on a volunteer basis. As of October 4, 2026, we did not find a ruling or finding on the question from a court, agency or committee, and we could not locate a response from Kushner to two letters from Rep. Jamie Raskin.

Read the full case

Case updates

Will Kushner answer the Affinity Partners record requests?

Get an email if Kushner or Affinity answers the Democrats' record requests, if a financial disclosure for Kushner surfaces, or if new reporting traces the firm's investments.

Important updates only. Free. Confirm your email to start. Unsubscribe anytime. How we handle your email.

Source and context

Reporting

Borelli disputes the conflict inference from Affinity's indirect defense investments - source (opens in a new tab)October 3 article, reproduced Joe Borelli exchange and paragraph describing his 'small part' defense

About this source

The panel discussed Affinity's stake in Phoenix Financial and Phoenix's holdings in businesses supplying Israel's military. Rivera argued that diplomatic decisions could affect Kushner's wealth. CNN's report said it found no indication that the diplomatic actions directly affected the investments examined.

Archived copy (opens in a new tab)

Before the quotation

The panel discussed Affinity's stake in Phoenix Financial and Phoenix's holdings in businesses supplying Israel's military.

After the quotation

Rivera argued that diplomatic decisions could affect Kushner's wealth. CNN's report said it found no indication that the diplomatic actions directly affected the investments examined.

How this statement is classified

Defended or excused

The label describes this statement's response within the context above.

Why this label?

The reference point is the conflict between Kushner's investment ties and diplomatic role. Borelli defends him by disputing the significance of the indirect holdings.

Recorded on
Published here

More from this case

Read the full case

Jeff Hauser says Kushner should face Senate confirmation and divest assets if he keeps his envoy role

Jeff Hauser

“Jared Kushner has still not filed an updated financial disclosure ... I think that Kushner, if he is to continue serving as a roving Ambassador, should be appointed to an Ambassadorial or high ranking State Department job and stand for confirmation before the Senate. That would both give his work legal legitimacy as well as require him to divest assets that give him a different set of interests personally than the nation as a whole.”
Read statement

Share or embed this statement

Quote card: Joe Borelli, Borelli disputes the conflict inference from Affinity's indirect defense investmentsDownload image (PNG)

The embed keeps its attribution link to The Dispute Index. Credit the image to The Dispute Index and link to the statement page.

Cite this record

Publisher
The Dispute Index
Title
Borelli disputes the conflict inference from Affinity's indirect defense investments
First published
Last updated
Permalink
https://disputeindex.com/events/4763-borelli-defended-kushner-by-arguing-that-affinity-s

Last updated marks the most recent saved version of this published statement.

The Dispute Index. "Borelli disputes the conflict inference from Affinity's indirect defense investments". First published: 2026-10-06. Last updated: 2026-10-06. https://disputeindex.com/events/4763-borelli-defended-kushner-by-arguing-that-affinity-s