Josh Kushner, backed by Thrive Capital, joins Bob Iger in purchasing Los Angeles Lakers
Venture investor Josh Kushner and media executive Bob Iger completed a deal to acquire the Los Angeles Lakers, adding the franchise to Kushner's expanding portfolio that includes technology and sports investments.
Josh Kushner, a Harvard-educated venture capital founder, and media executive Bob Iger announced the acquisition of the Los Angeles Lakers this week. Kushner’s wealth stems primarily from Thrive Capital, a firm he started in 2010 that now manages about $25 billion in assets and holds stakes in companies such as Instagram, Spotify, Stripe and SpaceX. Thrive’s recent initiative, Thrive Eternal, describes a mission to preserve “iconic franchises and cultural institutions.”
Thrive Capital has also invested heavily in artificial-intelligence firms, including more than $2 billion in OpenAI since 2023. In March, the firm co-led a financing round for Anduril Industries, a defense-technology company that supplies AI-driven drones and has received a $20 billion U.S. government contract.
Kushner, who has publicly identified as a Democrat, has contributed to progressive causes and attended the 2016 Women’s March. He previously co-owned a Maryland property-management firm that settled a consumer-protection lawsuit for $3.25 million.
“It is no secret that liberal values have guided my life and that I have supported political leaders that share similar values,” Kushner said in a 2017 profile.
The Lakers purchase adds a high-profile sports asset to Kushner’s portfolio, which already includes a stake in the San Francisco Giants and a past attempt to buy the Miami Marlins. Observers note that his diverse investments span technology, entertainment and defense sectors, raising questions about the intersection of his financial interests and public policy.
The deal marks the latest expansion of Kushner’s public-facing business activities, following his brother Jared’s more visible political involvement.