Who is Josh Kushner? Thrive Capital founder and Bob Iger poised to buy Los Angeles Lakers in record $12B NBA sale

In one of the most significant ownership shifts in NBA history, the Los Angeles Lakers are being sold for more than $12 billion to a pair of high-profile figures from the technology and entertainment worlds. The buyers are Josh Kushner, founder of the venture firm Thrive Capital, and Bob Iger, the former chief executive of Disney. If completed, the transaction would set a new benchmark for the price of any professional sports franchise and mark a dramatic change for one of basketball’s most storied teams.

Who is Josh Kushner?

Josh Kushner has spent the better part of two decades building one of the strongest investment track records in American venture capital. While his older brother Jared became a public figure through politics and real estate, Josh remained focused on technology and long-term private investing. That quieter path has now placed him at the center of a landmark sports deal.

The rise of Thrive Capital

Josh Kushner launched Thrive Capital in 2009 at the age of 25. The firm has grown into a major institutional investor managing more than $60 billion in assets. Early positions in Instagram, OpenAI, Stripe, Spotify, and Oscar Health, a company Kushner co-founded, delivered outsized returns. Thrive also became a significant backer of Skims, the apparel brand founded by Kim Kardashian. These successes established Kushner as a patient, high-conviction investor rather than a short-term trader.

A structure built for long-term ownership

Most venture firms operate on limited timelines. Kushner created Thrive Eternal specifically to hold permanent equity in sports, media, and entertainment companies. The Lakers acquisition aligns directly with that long-horizon strategy and signals that Thrive intends to remain involved for decades rather than years.

Personal life and public stance

Josh Kushner is married to supermodel and entrepreneur Karlie Kloss. The couple has two children. Despite the family’s well-known Republican connections, Josh has been a registered Democrat throughout his adult life and has supported progressive causes, including March for Our Lives.

Details about the deal

Josh Kushner and Bob Iger submitted an offer exceeding $12 billion to current controlling owner Mark Walter. Walter had only recently acquired majority control from the Buss family. The size and speed of the new bid surprised many around the league. Kushner and Iger had earlier been linked to NBA expansion efforts in Las Vegas. Those plans were set aside once the opportunity to purchase the Lakers became realistic.

Statements from the parties involved

Josh Kushner and Bob Iger released a joint statement that underscored their respect for the franchise’s history. “We are deeply honored for the opportunity to become stewards of the Los Angeles Lakers. We have immense respect for the leadership and vision of Jerry and Jeanie Buss. Our long-term commitment is to build on that foundation, compete at the highest level, and serve this extraordinary team, its fans, and the city of Los Angeles.”

Walter offered his own reflection on the reported sale. “Owning the Los Angeles Lakers has been one of the great honors of my life -- an extraordinary investment, but what I will carry with me is the community, the fans, and a city that treats this team as family... The Lakers belong to Los Angeles, and I have every confidence the best is still ahead.”

Looking ahead for the Los Angeles Lakers

If the sale is finalized, the franchise will enter a new chapter under ownership that combines deep technology capital with seasoned media leadership.