Jared Kushner's Hacked Phone Exposes Alleged $2B Foreign Financial Arrangement During Trump's First Term

Dutch military intelligence reportedly monitored Jared Kushner's iPhone during Donald Trump's first presidency, uncovering his access to foreign bank accounts linked to at least $2 billion (about £1.5 billion) in alleged financial arrangements, according to an investigation published by Vanity Fair on 22 October 2026.

Journalist Matthew Cole alleges that leaders in the United Arab Emirates (UAE) and Saudi Arabia initially discussed a foreign-policy fund worth more than $10 billion (about £7.5 billion) before abandoning the proposal. He says at least $2 billion was subsequently placed in accounts linked to Kushner, then a senior White House adviser.

Kushner has denied the allegations, describing them as 'outrageous fabrications.' His lawyer denied wrongdoing, while former US ambassador to Israel David M. Friedman denied involvement in the alleged arrangements. The claims have not been established in court.

Dutch Intelligence Reportedly Monitored Phone

Cole's account, published as an excerpt from his book Princes and Thieves, says the Netherlands Defence Intelligence and Security Service (MIVD) gained access to a Russian military intelligence operative in late 2017. The operative reportedly provided access to a server in Rostov, Russia, containing screenshots of Kushner's iPhone X.

By early 2018, Dutch intelligence had reportedly identified a vulnerability that allowed officers to observe the phone's screen while it was being used. Cole says they saw Kushner accessing a UAE-linked bank account that had received hundreds of millions of dollars from an Azerbaijani bank.

Two Accounts Linked to at Least $2 Billion

Cole alleges that UAE ruler Mohamed bin Zayed and Saudi Crown Prince Mohammed bin Salman initially discussed a fund to support foreign-policy objectives, potentially including initiatives pursued by the Trump administration. The proposal reportedly fell apart within months. The two leaders initially, and later bin Zayed alone, allegedly placed at least $2 billion into accounts linked to Kushner.

The first, called Alpha, was held at First Abu Dhabi Bank and received about $750 million from Saudi and Emirati sources from 2017. It belonged to the Watani Al Emarat Foundation, a UAE government-funded charity. Cole says Kushner was authorised to conduct transactions but did not own the account. Sources cited in the investigation alleged the foundation also supported covert UAE military and intelligence operations.

The second arrangement, called Beta, allegedly involved roughly $1 billion (£746 million) transferred to Israel's central bank by spring 2018. A source told Cole the money was intended for Kushner's personal benefit. The report alleges Israeli Prime Minister Benjamin Netanyahu wanted advance notification of transactions, with messages passed through Friedman. Friedman denied involvement, while Kushner's lawyer said the account did not exist.

Cole also describes a separate transfer linked to an alleged UAE-Israel defence arrangement.

Questions Over Authorisation and Disclosure

Four former senior Trump administration officials told Cole they knew of no presidential authorisation allowing Kushner to access a foreign government's bank account. Kushner's lawyer said he made no arrangements with foreign leaders without presidential agreement and acted in the best interests of the United States.

Cole argues the alleged arrangements raise questions about financial disclosure requirements and potential conflicts of interest. However, the published investigation does not establish that Kushner broke the law, and the alleged transactions and their purposes remain disputed.