Jared Kushner is facing fresh scrutiny over his time in Donald Trump’s first administration after an investigative report alleged that Dutch intelligence accessed his iPhone and uncovered financial arrangements linked to Gulf governments. The claims, detailed in an excerpt from Matthew Cole’s forthcoming book, raise questions about Kushner’s Middle East diplomacy, foreign financial relationships and the extent of his access to accounts reportedly involving billions of dollars.
Kushner has strongly rejected the allegations, describing them as false and threatening legal action. However, his published response contains a significant detail: he says Trump authorised his signatory access to accounts associated with a UAE-funded foundation. Meanwhile, Dutch intelligence has not publicly confirmed the alleged surveillance operation, leaving major questions about the reported financial arrangements unresolved.
What Does Matthew Cole’s Book Allege About Jared Kushner?
The controversy centres on Princes and Thieves: Jared Kushner and Mohamed bin Zayed’s Secret Plot to Remake the Middle East, written by investigative journalist Matthew Cole, whose previous work has focused extensively on national security and intelligence.
Vanity Fair published an excerpt on October 22, 2026, ahead of the book’s scheduled release on October 27 by One Signal Publishers, an imprint of Atria Books at Simon & Schuster.
Cole’s account begins with information he says he received from a source in 2020 about an alleged Dutch intelligence operation involving Kushner’s phone.
According to the book, the Netherlands Defence Intelligence and Security Service, known as the MIVD, learned in late 2017 that a Russian national associated with the GRU, Russia’s military intelligence service, was travelling to the United Kingdom on an espionage mission.
Cole writes that Dutch authorities alerted the British government. The Russian operative was subsequently offered a choice between cooperating with Dutch intelligence and facing arrest and prosecution. According to the book, he chose to cooperate.
Cole alleges that the operative then provided access to a GRU server in Rostov, Russia. Dutch intelligence reportedly discovered stolen information there, including screenshots of Kushner’s iPhone.
Following the Trump Legal Disputes
Donald Trump is facing a separate legal dispute over his defamation lawsuit against the BBC, with a judge setting a deposition deadline and warning of possible dismissal. For details of that case, see the report on Trump’s BBC lawsuit and deposition deadline.
How Dutch Intelligence Allegedly Monitored Kushner’s iPhone
According to Cole, Dutch intelligence personnel attempted to establish how Russian hackers had accessed Kushner’s device before identifying a vulnerability that allegedly allowed them to monitor its screen.
The book says the operation did not provide every capability associated with certain forms of phone malware. Instead, Cole alleges that Dutch personnel could see Kushner’s screen while he used the device and capture images of the information displayed.
The phone was reportedly an iPhone X, which Apple released in November 2017.
Cole’s account places the alleged surveillance at the centre of the financial controversy, claiming that intelligence personnel observed Kushner accessing a bank account in Dubai.
However, the alleged MIVD operation has not been publicly confirmed by the Dutch government. Dutch public broadcaster NOS reported that the intelligence service declined to comment on its methods, knowledge or sources when questioned about the claims.
Kushner’s own response also stops short of confirming or definitively disproving the alleged hacking.
In a detailed statement published on his website on October 22, his counsel addressed whether Kushner knew that one of his iPhones had been hacked and monitored by a European government while he was serving in the White House.
The response stated:
“Mr. Kushner does not know if his iPhone was hacked or monitored while serving in the White House; you should ask the White House about that.”
His response added that he received regular counterintelligence briefings during his government service but was never informed that his phone had been monitored. It also said he assumed non-secure calls could potentially be intercepted.
The distinction matters: Kushner says he does not know whether the alleged surveillance occurred, rather than claiming to possess definitive knowledge that it never happened.
The Alleged $750 Million UAE Account and the Watani Foundation
Cole’s book describes a financial arrangement he calls the “Alpha” account.
According to the excerpt, the alleged surveillance showed Kushner logging into a Dubai bank account that had received hundreds of millions of dollars from an Azerbaijani bank.
Cole initially describes the account as appearing to be connected to the UAE government. He subsequently alleges that it was controlled by the Watani Al Emarat Foundation, a UAE government-funded charity, with Kushner serving as a signatory.
The book claims that approximately $750 million was transferred into the account beginning in 2017, with Saudi and Emirati money allegedly routed through Azerbaijan before reaching the UAE.
Cole does not describe the account as personally owned by Kushner. Instead, the allegation concerns his reported signatory access, a distinction that is important when assessing claims about ownership or personal financial benefit.
What Kushner Says About Trump’s Authorisation
Kushner’s published legal response contains a specific answer about the Watani accounts.
Asked, “Did President Trump authorize your signatory access to Watani accounts in the UAE?”, his legal team responded:
“Yes. Mr. Kushner has consistently complied with all applicable laws and requirements when dealing with foreign governments and in any dealings on behalf of the U.S. Government.”
This response does not simply deny any connection to Watani. It acknowledges signatory access and states that Trump authorised it, while rejecting the broader allegations of improper conduct.
Signatory authority, however, is not the same as personal ownership of an account or proof that its funds were paid to Kushner.
Cole also alleges that the foundation had another role involving money connected to UAE military and intelligence operations overseas. An unnamed source cited in the book claims its charitable status could make international transactions less likely to attract scrutiny.
Those allegations have not established that the foundation illegally served as a cover for intelligence or military activity.
The Alleged $1 Billion Israeli Account and Benjamin Netanyahu
The book describes a second financial arrangement, called the “Beta” account, involving approximately $1 billion allegedly transferred to Israel through Azerbaijan.
Cole claims the money was placed in an account at the Bank of Israel and that Kushner had access to the arrangement. He further alleges that Israeli Prime Minister Benjamin Netanyahu encouraged Kushner to have the money deposited with Israel’s central bank, where it would appear as government funds rather than money personally connected to Kushner.
The reported arrangement has been disputed by people named in Cole’s account.
Former US Ambassador to Israel David Friedman denied knowing about or participating in the alleged scheme. In a statement quoted by Vanity Fair, Friedman said:
“I know absolutely nothing about any of these allegations. The specific allegations about me or my alleged involvement in this alleged scheme are 100% false.”
Kushner’s legal team has also rejected the alleged Beta account.
Cole’s account adds that Kushner encountered difficulties moving money from the alleged Israeli arrangement into other accounts. A person cited in the book as having worked with Kushner on moving the money claimed that some funds passed through bank accounts in Cyprus before being transferred elsewhere.
The complete chain of those alleged transactions has not been publicly established through independently released financial records.
A Separate UAE-Israel Defence Arrangement
Cole also describes a third financial arrangement separate from the alleged Alpha and Beta accounts.
According to the book, Kushner was involved in efforts to improve diplomatic relations between Israel and the UAE as the two countries moved towards the normalisation process that ultimately produced the Abraham Accords in 2020.
Cole alleges that the UAE sought an arrangement under which Israel would help defend it against a major Iranian military attack. The book claims the UAE secretly transferred money to Israel’s central bank to cover the potential cost of that defence arrangement.
Cole characterises this as effectively a defence fund rather than money intended for Kushner personally.
The allegation therefore should not be confused with a confirmed finding that Kushner controlled a secret account or personally received the funds.
Why the Reported $2 Billion Figure Needs Context
Cole’s account describes financial arrangements involving approximately $2 billion in total. The main figures outlined in the excerpt are:
| Reported arrangement | Alleged amount | What Cole claims |
| Alpha account, UAE | Approximately $750 million | Funds allegedly routed through Azerbaijan into an account associated with Watani, where Kushner reportedly served as a signatory |
| Beta arrangement, Israel | Approximately $1 billion | Money allegedly transferred through Azerbaijan into an arrangement involving Israel’s central bank |
| Separate defence arrangement | Not specified separately | Funds allegedly provided by the UAE to cover a potential Israeli defence commitment |
CBS News similarly described the book’s allegations as Kushner having access to more than $2 billion in alleged foreign “slush money funds”. CBS also noted that it had not independently verified the allegations in the Vanity Fair excerpt.
The figures do not establish that Kushner personally received $2 billion. The allegations concern funds reportedly placed in accounts or arrangements connected to, accessible to or associated with him.
Cole also alleges that Azerbaijan played an intermediary role, with certain banks accepting transfers in Saudi riyals or Emirati dirhams, converting their value into US dollars and transferring the equivalent amount onwards for a fee. He argues that this could make the original source of funds harder to identify through conventional auditing.
That explanation remains part of Cole’s account. It does not establish that every transaction described involved illegal activity or that Kushner personally directed the transfers.
The Gulf Leaders and the Alleged Original $10 Billion Proposal
Cole links the alleged arrangements to the interests of Mohamed bin Zayed, the UAE’s ruler, and Mohammed bin Salman, Saudi Arabia’s crown prince.
The book places the reported activity within a period when Kushner was pursuing Middle East diplomacy during Trump’s first administration. Cole says Mohamed bin Zayed wanted to advance UAE regional interests, including opposition to the Obama-era Iran nuclear agreement, while Mohammed bin Salman was seeking to consolidate his position as Saudi Arabia’s future ruler.
Kushner, meanwhile, was pursuing an Israeli-Palestinian diplomatic agreement.
One unnamed source cited by Cole described Kushner’s approach by saying:
“Jared was looking for shortcuts in his diplomacy.”
That is the source’s characterisation, not an established finding about Kushner’s motives.
Cole further alleges that Mohamed bin Zayed and Mohammed bin Salman initially discussed putting more than $10 billion into a broader fund intended to support the administration’s foreign-policy objectives. The proposal could reportedly have supported priorities ranging from Trump’s proposed border wall to wider Middle East diplomacy.
According to the book, that broader concept faded as the Gulf leaders’ priorities shifted towards regional issues, particularly Mohammed bin Salman’s path to becoming Saudi crown prince. Cole alleges that the proposal subsequently evolved into the smaller group of accounts and commitments described in the book.
The more than $10 billion figure refers to an allegedly discussed proposal, not money established as having been transferred to Kushner.
Kushner Calls the Allegations False and Threatens Legal Action
Kushner has forcefully rejected Cole’s reporting.
In his public response, he said:
“The allegations made by this author are completely insane and never happened.”
He also stated:
“We denied every claim on the record, yet the author provided not a single shred of verifiable evidence to substantiate them.”
Challenging the lack of publicly produced financial documentation, Kushner added:
“No bank statements, wire transfer records, account numbers, transaction dates, or other verifiable details were provided to support these extraordinary accusations.”
He further said he had cooperated with investigations during Trump’s first administration and argued that the allegations would have surfaced earlier if supported by evidence.
His lawyer, Chad Mizelle, described the claims as false and defamatory and threatened legal action against those responsible, although the public statement did not specify exactly whom any action would target.
Kushner’s counsel had also contacted Simon & Schuster before publication. A letter from attorney Alejandro Brito, published as part of Kushner’s response, said the legal team had supplied point-by-point responses and expected the publisher to fact-check the claims.
The letter stated that Kushner was prepared to pursue available legal and equitable remedies, including damages and attorneys’ fees, if the allegations were published.
Why Kushner’s Financial Relationships Are Under Renewed Scrutiny
The allegations have attracted attention partly because of Kushner’s financial activities after leaving the White House.
Kushner founded Affinity Partners, a private investment firm, following Trump’s first administration. Bloomberg reported in March 2026 that the firm had $6.2 billion in assets at the end of 2025, with backing from government-linked investors in the Middle East.
Those publicly reported investment relationships are separate from the alleged Alpha and Beta arrangements. The existence of legitimate investment activity after Kushner left government does not establish that the earlier allegations are true.
Kushner has also returned to a prominent role in US foreign-policy efforts during Trump’s second administration. Citizens for Responsibility and Ethics in Washington reported that he had participated in major diplomatic negotiations in 2026 despite not being formally nominated or Senate-confirmed to a high-level government position. The organisation has challenged the legality of his role in federal court.
These developments provide context for renewed scrutiny of his financial relationships and diplomatic activities, but they do not independently substantiate Cole’s allegations.
Could the Alleged Accounts Raise Legal and Ethics Questions?
Cole argues that access to foreign government-linked financial accounts during Kushner’s White House service could have raised questions under US government ethics and financial-disclosure requirements.
The book further argues that, if financial benefits had been provided in exchange for influencing US government policy, the circumstances could potentially have raised issues under laws governing bribery or foreign-agent activity.
Those are conditional legal arguments, not findings of criminal conduct. No criminal conviction or court ruling establishing that Kushner violated federal bribery or foreign-agent laws has been reported in connection with these allegations.
The central questions remain whether the reported accounts existed as described, what access Kushner had, how any funds moved and whether independent evidence supports Cole’s account.
What Happens Next?
The next immediate development is the scheduled publication of Princes and Thieves on October 27, 2026. The full book may provide additional documentation, source material or explanations beyond the Vanity Fair excerpt.
Kushner’s legal team has already threatened legal action, while the MIVD has not publicly confirmed the alleged surveillance operation. Further documentary evidence, official statements, legal filings or independent reporting could materially affect how the claims are assessed.
Another Case Moving Through the Courts
A separate criminal case involving Agostino Abbatiello has drawn attention over a reported request for a speedy trial in December 2026. Read the update on the Abbatiello Penn State case and trial motion for details of that proceeding.
Conclusion
Matthew Cole’s forthcoming book makes serious allegations about Jared Kushner’s phone, foreign financial arrangements and Middle East diplomacy during Trump’s first administration. The reported figures include approximately $750 million associated with an alleged UAE account, around $1 billion linked to an alleged Israeli arrangement and a separate defence-related financial commitment.
Kushner has denied the broader allegations and threatened legal action, although his published response says Trump authorised his signatory access to Watani accounts. Former ambassador David Friedman has also rejected the allegations about his involvement, and Dutch intelligence has not publicly verified the alleged phone surveillance.
For now, the reported financial arrangements and intelligence operation remain disputed. The available information does not establish that Kushner personally received $2 billion, committed bribery or acted illegally.
Source and research disclaimer: This article has been prepared based on thorough research of the sources provided: Vanity Fair, Jared Kushner’s published response, CBS News, NOS, TheWrap, and Bloomberg. It reflects the information available from those sources through October 24, 2026. Allegations attributed to Matthew Cole remain disputed and should not be interpreted as independently verified findings or proof of criminal wrongdoing.
Sources
- Vanity Fair: The Art of the Deal: Jared Kushner’s Hacked Phone Revealed His Secret Negotiations
- Jared Kushner’s published response to Matthew Cole’s book
- CBS News: Jared Kushner pushes back on report involving hacked phone, spies and billion-dollar transfer
- NOS: MIVD report on Kushner’s alleged hacked iPhone
- TheWrap: Jared Kushner threatens legal action over Vanity Fair story
- Bloomberg: Affinity Partners assets reached $6.2 billion at end of 2025
Featured Image Credit: Gage Skidmore / CC BY-SA 2.0 via Wikimedia Commons
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