Acquisition of the Lakers
Josh Kushner recently completed the purchase of the Los Angeles Lakers in a deal valued at 12.5 billion dollars. He entered the negotiation alongside former Disney Chief Executive Bob Iger after learning that the previous owner, Mark Walter, faced federal scrutiny regarding his business interests. The transaction concluded within 72 hours of the initial proposal. This acquisition stands as the highest price ever paid for a professional sports franchise. While Kushner often avoids public attention, this move places him in a significant position within the global sports market.
Kushner and Iger viewed the Lakers as a rare chance to control a premium asset for the long term. Bob Iger is expected to manage the daily operations, while Kushner continues to oversee his investment firm, Thrive Capital. The two men have maintained a professional bond since 2019, when they met for lunch and established a mutual respect for their respective business strategies. Iger previously held an advisory role at Thrive before returning to his executive position at Disney in late 2022.
Growth and Strategy at Thrive Capital
Thrive Capital currently manages over 65 billion dollars in assets. Kushner founded the firm in 2010 during his time at Harvard Business School. The organization holds stakes in major technology companies such as OpenAI, SpaceX, and Anduril. Kushner’s investment strategy focuses on long-term retention rather than quick flips. He prioritizes finding founders who demonstrate the ability to scale complex ideas into sustainable market leaders.
His approach to business involves intense preparation. Early in his career, he launched the health insurer Oscar to address what he viewed as inefficiencies in data and pricing transparency. Despite initial losses, the company became a viable player in the Affordable Care Act marketplace. His willingness to weather volatility has earned him support from high-profile partners like Sam Altman. Altman has stated that the firm remains highly effective at navigating high-stakes environments.
Personal History and Professional Resilience
Kushner grew up in Livingston, New Jersey, within a family deeply embedded in real estate development. His father, Charles Kushner, built a significant portfolio before facing legal challenges related to tax evasion and witness retaliation. These events forced the family into a period of public scrutiny that influenced Josh Kushner’s later approach to his own career. He often cites the survival story of his grandmother, a Holocaust survivor who escaped a ghetto in 1943, as a primary source of his perspective.
This family history has shaped his preference for remaining behind the scenes. Former Harvard Business School dean Nitin Nohria advised him early on to focus strictly on his business and avoid public distractions. Kushner follows this practice by maintaining a low-key demeanor despite his multi-billion dollar net worth. He practices the Sabbath each week, turning off his electronic devices to focus on his family, including his wife, Karlie Kloss.
Navigating Future Challenges
The business path for Kushner remains complicated by his family's political ties. His brother, Jared Kushner, served as a senior advisor in the Trump administration. Josh Kushner identifies as an independent voter and has worked to maintain a professional distance from his brother's political activities. Still, the overlap in media narratives occasionally creates friction. He has previously dealt with external criticism regarding his family name and his associations in the private sector.
Recent years have tested his leadership. The firm faced significant backlash during an attempted 4.2-billion-dollar deal involving FIFA commercial rights, which Kushner eventually abandoned. He addressed the error directly with his staff, taking responsibility for the misjudgment. This event serves as a focal point for how he manages the risks associated with his rapid expansion. Observers suggest that his ability to acknowledge these mistakes is a defining trait of his management style.