Phoenix Financial
| Type | Public |
|---|---|
| TASE: PHOE | |
| Headquarters | Tel Aviv, Israel |
| Key people | Eyal Ben Simon (CEO) |
| AUM | >$100 billion (September 2026) |
Phoenix Financial is an Israeli financial services and insurance company based in Tel Aviv.[1][2] Phoenix is Israel's largest asset management, holding over $100 billion in assets under management (AUM) as of September 2026.[3] Eyal Ben Simon is the CEO of Phoenix.[4]
Operations
[edit]Phoenix Financial has invested $456 million into arms manufacturers that provide equipment to the Israeli military. These holdings include:[5][6]
| Company | Industry | Investment |
|---|---|---|
| Elbit Systems | Munitions and electronics | $265.1 million |
| Reshef Technologies | Munitions and electronics | $40.2 million |
| Next Vision | Drones, cameras and optics | $68.3 million |
| RP Optical Lab | Drones, cameras and optics | $906 thousand |
| Beit Shemesh Engines | Aircraft and engines | $55.8 million |
| Boeing | Aircraft and engines | $4.1 million |
| Ashot Ashkelon | Tanks and bulldozers | $18.6 million |
| Caterpillar | Tanks and bulldozers | $2.6 million |
| Israel Shipyards Ltd | Warships | $525 thousands |
Phoenix holds $4.5 billion of shares across 12 companies listed by the Office of the United Nations High Commissioner for Human Rights (OHCHR) for their links to Israeli settlements.[3]
Phoenix Financial owns nearly 10% of the corporate bonds issued to Brightline, the higher speed rail project in Florida.[7]
History
[edit]Jared Kushner investment
[edit]In October 2026, CNN published a report into Jared Kushner, US President Donald Trump's son-in-law, and his private equity firm Affinity Partners' relationship with Phoenix Financial.[5] Prior to Trump's second inauguration in 2025, Affinity doubled its investment in Phoenix, with Kushner describing Phoenix as Affinity’s "best investment."[5][8][9]
The report cited ethics concerns about Kushner's role as an unofficial White House representative to the Middle East, including his negotiations on the Gaza ceasefire and Board of Peace, and his role as an investor in a company that invests in Israeli arms manufacturers.[5] Cynthia Brown, chief ethics counsel for Citizens for Responsibility and Ethics in Washington, said "There are always people who profit from war or government policies. The difference is that the people profiting should not be the people making the decisions to make that policy. And that is what is happening here."[10]
In June 2026, Affinity announces plans to sell 2.5% of Phoenix shares worth NIS 1.05 billion to international in a transaction led by investment bank Jefferies.[11][1] Prior to the sale in July, Affinity was the largest shareholder in Phoenix, holding a 9.9% stake prior to the transaction and 7.4% after, worth over $1 billion.[11]
References
[edit]- 1 2 Altstein, Galit (2026-07-28). "Jared Kushner's Affinity Pares Stake in Israeli Insurer After Rally". Bloomberg. Retrieved 2026-10-01.
{{cite news}}: CS1 maint: url-status (link) - ↑ Gara, Antoine; Fontanella-Khan, James; Dunai, Marton; Sheppard, David (2026-10-01). "What Jared Kushner did next". Financial Times. Retrieved 2026-10-01.
{{cite news}}: CS1 maint: url-status (link) - 1 2 "Exit and Exception". Boston Review. 2026-09-24. Retrieved 2026-10-01.
- ↑ SHARONI, ByYEHUDA (2026-08-27). "Insurance companies' profits surged this quarter to NIS 2.85 Billion | The Jerusalem Post". The Jerusalem Post | JPost.com. Retrieved 2026-10-01.
- 1 2 3 4 Goodwin, Allegra; Polglase, Katie; de Puy Kamp, Majlie (2026-10-01). "Jared Kushner's company has large stake in firm with Israeli military links | CNN". CNN. Retrieved 2026-10-01.
- ↑ "Kushner's firm profited from Israeli defense investments while he negotiated Gaza war end, probe finds". Ynetglobal. 2026-10-01. Retrieved 2026-10-01.
- ↑ Basu, Reshmi; Ronalds-Hannon, Eliza (2026-05-07). "Kushner-Backed Israeli Firm Moves to Defend Its Brightline Bonds". Bloomberg. Retrieved 2026-10-01.
{{cite news}}: CS1 maint: url-status (link) - ↑ Sales, Ben (2025-01-15). "Jared Kushner set to double stake in leading Israeli financial firm". Jewish Telegraphic Agency. Retrieved 2026-10-01.
- ↑ Williams, Dan; Altstein, Galit (2025-01-15). "Kushner's Affinity Gets Nod to Double Stake in Israel's Phoenix". Bloomberg. Retrieved 2026-10-01.
{{cite news}}: CS1 maint: url-status (link) - ↑ "Jared Kushner's Massive Ties to Company Backing IDF Exposed". The New Republic. ISSN 0028-6583. Retrieved 2026-10-01.
- 1 2 Hazani, Golan; Calcalist (2026-07-28). "Kushner sells NIS 1.05 billion stake in Israeli financial giant Phoenix to global investors". Ynetglobal. Retrieved 2026-10-01.