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Kushner's Stealth Bid for Lakers Stuns Industry
31 Aug
Summary
- Josh Kushner saw an opportunity in Mark Walter's legal issues.
- He partnered with Bob Iger to acquire the Los Angeles Lakers.
- Kushner's Thrive Capital manages over $65 billion in assets.
Venture capitalist Josh Kushner identified a business opening when news surfaced about federal investigations into Mark Walter's insurance enterprises, potentially impacting the Lakers and Dodgers owner. Kushner, alongside his partner Bob Iger, shifted their focus from a potential Las Vegas NBA franchise bid to acquiring the Los Angeles Lakers.
Within three days, Kushner contacted Walter, and a deal was finalized to preempt a bidding war, bringing the younger Kushner brother into a significant media spotlight he typically avoids. Despite being less known than his politically active brother, Jared Kushner, Josh has amassed an estimated net worth of $16.7 billion.
His company, Thrive Capital, founded in 2010, now manages over $65 billion and backs leading young companies such as OpenAI, SpaceX, and Anduril. Colleagues praise Kushner's business acumen, calm demeanor, and strong work ethic, qualities that have attracted partners like Iger, who lauded Kushner's "limitless curiosity."
