Trump’s Gaza Board of Peace Faces Scrutiny Over Billion-Dollar Business Ties

U.S. President Donald Trump’s Board of Peace, established to oversee Gaza’s postwar reconstruction, is facing scrutiny over financial ties linking senior members to Israeli arms manufacturers, settlement financing and multibillion-dollar Gulf investments.

A network of business ties involves Trump’s son-in-law Jared Kushner, senior U.S. financiers, and sovereign wealth funds from Saudi Arabia, Qatar, and the United Arab Emirates, according to an investigation by The Telegraph.

Kushner's Investments Linked to Israeli Defense Industry

Kushner's private equity firm, Affinity Partners, has attracted billions of dollars in funding from Gulf investors.

Much of that funding has come from sovereign wealth funds associated with Saudi Arabia, Qatar and the UAE, all three of which are represented on the Board of Peace.

The firm holds a 7.4% stake in Phoenix Financial, an Israeli investment group with exposure to businesses supplying equipment to the Israeli military.

Among them is Smart Shooter, a defense manufacturer whose equipment has been used by Israeli forces in Gaza and which secured a U.S. military contract worth up to $150 million in September.

West Bank Settlement Financing

Phoenix Financial also has investments connected to Israeli settlement development in the occupied West Bank, including companies involved in construction, transportation, and natural resource extraction.

According to the Who Profits Research Center, Phoenix held investments in 11 companies the UN listed as linked to activities in the West Bank as of April 2026.

Gulf Financial Ties Extend Beyond Kushner

The investigation also highlighted financial connections involving Qatar's sovereign wealth fund and Trump's property business.

Qatari Diar, a state-backed developer, is financing a Trump-branded luxury real estate project near Doha while also supporting Rawabi, a Palestinian city development associated with businessman Bashar Masri.

Masri's business interests are connected to Shadia Jaradat, who oversees reconstruction and infrastructure within the Board of Peace's Gaza office.

Masri and companies under his control are also facing a U.S. civil lawsuit alleging that infrastructure associated with their businesses was used by Hamas, allegations they have denied.

Officials Deny Conflicts of Interest

Affinity Partners rejected suggestions that Kushner's investments presented a conflict of interest, arguing that it has no control over Phoenix's individual investment decisions.

Despite the controversy, officials on the Board of Peace maintain that political obstacles, not financial interests, remain the main barrier to implementing Trump's Gaza plan.