Key facts
- Joshua Kushner and Bob Iger have agreed to purchase the Los Angeles Lakers.
- The deal values the NBA franchise at $12.5 billion.
- Kushner is a venture capitalist and co-founder of Oscar Health.
- His firm, Thrive Capital, has invested in companies like OpenAI, Instagram, and Spotify.
- Kushner has a history of sports investments, including stakes in the Miami Heat and previously the Memphis Grizzlies.
- Kushner is a Democrat and has supported Democratic politicians and causes.
Joshua Kushner, brother of Jared Kushner, has partnered with former Disney CEO Bob Iger to agree to purchase the Los Angeles Lakers, a deal that values the NBA franchise at $12.5 billion. Kushner, a 41-year-old billionaire venture capitalist, has a significant history of investments in sports and technology.
Kushner's venture capital firm, Thrive Capital, which he founded in 2009 with initial backing from PayPal co-founder Peter Thiel, has invested in prominent companies such as Instagram, Spotify, and SpaceX. Thrive Capital recently raised $10 billion in its largest fundraising round to date. The firm also made a significant investment in artificial intelligence pioneer OpenAI in January 2023, shortly after the debut of ChatGPT, when the startup was valued at $29 billion; its valuation is now approaching $1 trillion.
Kushner co-founded Oscar Health, a health tech and insurance company, in 2012. His wife, model Karlie Kloss, also has a stake in the WNBA's New York Liberty. Kushner's sports investment portfolio includes a stake in the Miami Heat, which he acquired in 2024 after previously holding a stake in the Memphis Grizzlies. He also announced plans to take a stake in the San Francisco Giants and had a preliminary agreement to buy the Miami Marlins in 2017.
Kushner is a lifelong Democrat and has primarily funded Democratic politicians and causes. He attended the 2017 Women's March and has stated that liberal values guide his life. His father, Charles Kushner, is a real estate developer and the U.S. ambassador to France. In April, Kushner created Thrive Eternal, a holding company of Thrive Capital, intended to focus on "assets with qualities that cannot be replicated by technology," such as iconic franchises and cultural institutions.
Kushner and Kloss recently purchased the "Wave House" in Malibu for $29.5 million. Bob Iger, who invested $175 million for a 3.3% stake in Thrive Capital in 2022 and became an advisor, is partnering with Kushner on the Lakers acquisition.