Jared Kushner could profit from expanded Israeli settlements: Report

from al Mayadeen English

On Wednesday, Jared Kushner, President-elect Donald Trump's son-in-law, doubled his stake in an Israeli financial firm that is set to gain from expanding Israeli settlements in Palestine - hours before the announcement of a ceasefire deal in the enclave. 

Amid the winding down of the Israeli war on Gaza, Trump’s former Middle East advisor was able to benefit from the expansion of settlements in the occupied Palestinian territories, which are illegal under international law and are fueling violence against Palestinians in the West Bank and East al-Quds.

In the hours after the cease-fire was announced, Trump revealed that his administration would reverse the sanctions imposed by the Biden administration on violent Israeli settlers, even though the United Nations reported that settlers were behind over 1,000 attacks on Palestinians last year, marking the highest level of Israeli settler violence ever recorded.

Additionally, Israeli regulators approved a deal granting Kushner nearly 10 percent ownership in Phoenix Financial Ltd, a major Israeli finance and insurance firm, making him the company’s largest shareholder.

Affinity Partners, Kushner’s private equity firm funded by a $2 billion investment from Saudi Arabia’s sovereign wealth fund and the subject of several Senate investigations, initially invested in Phoenix Financial in July, acquiring a 4.95 percent stake. At the time, Affinity planned to double its share if regulators approved, which they did this week.

Kushner told Bloomberg News, “Investing in Phoenix in July 2024 was a decision rooted in my belief in Israel’s resiliency and the fundamentals of Phoenix’s business,” adding, “Six months later, the increased value of our shares reaffirms my conviction — both in Israel’s strength and the growing promise of Phoenix.”...

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