Key Takeaways
- • Josh Kushner and former Disney CEO Bob Iger have agreed to purchase the Los Angeles Lakers for $12.5 billion, representing a record valuation for an NBA franchise and marking a significant asset acquisition in sports ownership.
- • Kushner, 41, is the founder and managing partner of Thrive Capital, a venture capital firm that has raised over $10 billion in its latest fundraising round and maintains a diversified portfolio spanning technology, consumer brands, and sports assets.
- • Thrive Capital has established major early positions in high-profile technology companies including OpenAI (with a recent $1 billion additional investment in December), SpaceX, and Spotify, alongside consumer brand investments in SKIMS and entertainment studio A24, plus minority stakes in professional sports franchises (San Francisco Giants, Miami Heat).
- • Kushner has articulated AI as a core strategic focus, describing it as "the most important moment in our lifetimes" and stating the sector is "underhyped," positioning Thrive Holdings as a dedicated vehicle for AI-driven modernization investments in legacy industries.
- • As the younger brother of Jared Kushner (former Trump administration advisor and son-in-law), Josh operates as a relatively private investor despite headline-generating deal activity, emphasizing word, loyalty, and humility as core leadership principles.
Summary
Josh Kushner, founder of venture capital firm Thrive Capital, has partnered with Bob Iger, the former longtime chief executive of Disney, to acquire the Los Angeles Lakers at a valuation of $12.5 billion—a record price for an NBA franchise. The transaction represents Kushner's entry into majority sports ownership and marks one of his most high-profile acquisitions to date.
At 41 years old, Kushner has built a reputation as a consequential investor despite maintaining a relatively low public profile. Thrive Capital, his primary investment vehicle, has grown into a significant institutional allocator, raising over $10 billion in its latest fundraising round. The firm's portfolio demonstrates a sophisticated approach to early-stage technology investing combined with strategic consumer brand and entertainment positions. Key holdings include early stakes in OpenAI—where Kushner has maintained active engagement, including a $1 billion additional commitment in December—SpaceX, and Spotify. Beyond pure technology, Thrive has invested in consumer assets including Kim Kardashian's SKIMS and the film studio A24, while also maintaining minority interests in professional sports franchises, the San Francisco Giants and Miami Heat.
Thrive Capital has established a dedicated offshoot entity, Thrive Holdings, focused specifically on identifying companies leveraging artificial intelligence to modernize traditionally legacy-bound industries. Kushner has positioned AI as a central strategic thesis, describing it during a 2025 appearance at The Hill & Valley Forum as "the most important moment in our lifetimes" and characterizing the sector as "underhyped." This thematic focus reflects the broader institutional venture capital trend toward AI-driven transformation across sectors.
In a February 2025 podcast interview, Kushner articulated his leadership philosophy, emphasizing that "my word, the word of the firm, is more important than anything else," and identifying loyalty and humility as core organizational values. Despite his prominence in high-stakes deal-making, Kushner maintains a deliberately circumscribed public presence, granting few interviews or making regular public appearances. As the younger brother of Jared Kushner, the Trump administration advisor and prominent real estate executive, Josh has carved a distinct professional identity centered on venture capital and alternative asset investing rather than public or political engagement.
At 41 years old, Kushner has built a reputation as a consequential investor despite maintaining a relatively low public profile. Thrive Capital, his primary investment vehicle, has grown into a significant institutional allocator, raising over $10 billion in its latest fundraising round. The firm's portfolio demonstrates a sophisticated approach to early-stage technology investing combined with strategic consumer brand and entertainment positions. Key holdings include early stakes in OpenAI—where Kushner has maintained active engagement, including a $1 billion additional commitment in December—SpaceX, and Spotify. Beyond pure technology, Thrive has invested in consumer assets including Kim Kardashian's SKIMS and the film studio A24, while also maintaining minority interests in professional sports franchises, the San Francisco Giants and Miami Heat.
Thrive Capital has established a dedicated offshoot entity, Thrive Holdings, focused specifically on identifying companies leveraging artificial intelligence to modernize traditionally legacy-bound industries. Kushner has positioned AI as a central strategic thesis, describing it during a 2025 appearance at The Hill & Valley Forum as "the most important moment in our lifetimes" and characterizing the sector as "underhyped." This thematic focus reflects the broader institutional venture capital trend toward AI-driven transformation across sectors.
In a February 2025 podcast interview, Kushner articulated his leadership philosophy, emphasizing that "my word, the word of the firm, is more important than anything else," and identifying loyalty and humility as core organizational values. Despite his prominence in high-stakes deal-making, Kushner maintains a deliberately circumscribed public presence, granting few interviews or making regular public appearances. As the younger brother of Jared Kushner, the Trump administration advisor and prominent real estate executive, Josh has carved a distinct professional identity centered on venture capital and alternative asset investing rather than public or political engagement.
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