Josh Kushner, a prominent tech investor and the younger brother of Donald Trump's son-in-law, has entered a new phase of public visibility following a landmark deal to purchase the Los Angeles Lakers. Kushner, 41, and his partner, former Disney CEO Bob Iger, reached an agreement this week to acquire the NBA team from Mark Walter for a reported $12.5 billion, establishing a new record for the sale of a professional sports franchise.
The deal marks a significant moment for Kushner, who has largely operated outside the public eye despite the success of his venture capital firm, Thrive Capital. Forbes estimates his net worth at approximately $5 billion. Thrive Capital has a history of early investments in major technology companies, including OpenAI and SpaceX.
Kushner's partner, Bob Iger, 75, is a well-known figure in the entertainment and business worlds, having led The Walt Disney Co. for two separate periods over the past two decades. Iger joined Thrive Capital as a venture partner in 2022, developing a business relationship with Kushner that evolved from a mentorship initiated by their wives, supermodel Karlie Kloss and former NBA journalist Willow Bay.
According to Iger, the pursuit of the Lakers was a rapid pivot. The pair had initially been exploring the possibility of acquiring an NBA expansion team in Las Vegas. Upon learning that Walter might be looking to sell the Lakers, they quickly shifted their focus. "We immediately decided that given the value of the franchise and the iconic nature of the team, that we would be really smart to pursue it," Iger stated. "The deal came together in three days. It’s that simple."
Kushner has prior, albeit limited, experience with NBA ownership, having previously held a minority stake in the Memphis Grizzlies before selling it to invest in the Miami Heat. He will need to divest his Miami Heat stake to finalize the Lakers acquisition. Kushner and Kloss have also been frequently observed attending New York Knicks games.
While Iger has a long-standing appreciation for basketball, his personal allegiances have historically leaned elsewhere. Having grown up a fan of the New York Knicks, he became a supporter of the Los Angeles Clippers after moving to the city. His new role as a Lakers owner has drawn surprise in Los Angeles.
Kushner and Kloss have publicly distanced themselves from the conservative political views of Josh's brother, Jared Kushner, and their father, Charles Kushner. Josh Kushner has reportedly donated to progressive political candidates and has stated that "liberal values have guided my life." Kloss is an advocate for progressive causes, including reproductive rights. Iger has characterized himself as a political independent with progressive personal views. He previously served on a business advisory forum for former President Donald Trump in 2017 but resigned due to disagreements over environmental conservation.