Josh Kushner and former Disney CEO Bob Iger have agreed to purchase the Los Angeles Lakers in a transaction valuing the historic NBA franchise at a record-breaking $12.5 billion, according to reports. The massive deal places the 41-year-old venture capitalist at the center of professional sports ownership, adding the storied NBA franchise to a portfolio that already includes minority stakes in the San Francisco Giants and the Miami Heat.
Building a Sports and Tech Empire Through Thrive Capital
As the founder of Thrive Capital, Kushner has spent years building a venture capital firm that recently raised more than $10 billion in its latest funding round. According to financial publications and public profiles, his net worth sits at approximately $5 billion. Thrive Capital has established a reputation for high-conviction bets on high-profile technology companies, including early investments in OpenAI and SpaceX, alongside consumer brands like Spotify, Kim Kardashian’s SKIMS, and movie studio A24.
OpenAI CEO Sam Altman described Kushner’s investment philosophy in a previous interview with Fortune, noting that the venture capitalist makes bold moves without worrying about consensus. Beyond software and media, Kushner also founded Oscar Health in 2012, an insurance company that capitalized on Affordable Care Act marketplaces and recently posted record profits.
Navigating Public Scrutiny and Past Controversies
Kushner is the younger son of real estate tycoon Charles Kushner and the brother of Jared Kushner, who is married to President Donald Trump’s daughter Ivanka Trump. While his family background frequently draws media attention, Josh Kushner has largely maintained political separation from the Trump administration, stating in a 2017 interview that liberal values have guided his life and his political support.
The Lakers announcement arrives shortly after a separate high-profile sports venture faced headwinds. Last month, Kushner’s Thrive Eternal participated in a controversial plan with FIFA to sell private stakes in upcoming World Cup tournaments—a proposal that was quickly scrapped following public and institutional pushback. According to Mark Conrad, a professor of law and ethics at Fordham University’s Gabelli School of Business, speaking to CNN, the Lakers acquisition serves as a way for Kushner to move past the FIFA controversy and turn a new page in the sports sector.
What Comes Next for the Lakers and Ownership
The monumental $12.5 billion valuation resets the financial ceiling for sports franchises globally, outshining recent sales across major American leagues. While the transaction agreement has been reached between Kushner, Iger, and outgoing ownership, the deal remains subject to standard NBA league approval procedures, financial vetting by the board of governors, and closing documentation. Fans and league observers await further official updates regarding the timeline for the ownership transition and any potential structural changes to the franchise operations ahead of the upcoming NBA season.
