Venture capitalist Josh Kushner has made a significant rebound in the investment arena, transitioning from a failed multi-billion dollar bid for FIFA's commercial rights to a record-setting acquisition in the NBA. This bold move underscores his strategic acumen and enduring pursuit of high-value opportunities.
Kushner and Iger Secure Historic Lakers Deal
In a landmark transaction dated August 12, 2026, Josh Kushner, the 41-year-old venture capitalist and founder of Thrive Capital, along with former Disney CEO Bob Iger, successfully finalized the purchase of the esteemed Los Angeles Lakers franchise. The deal, valued at an unprecedented $12.5 billion, grants them control over one of the National Basketball Association's most iconic teams. This monumental acquisition comes just a year after Mark Walter acquired the franchise from the Buss family for an estimated $10 billion, highlighting a remarkable appreciation in value for the Lakers. Kushner is no stranger to NBA ownership, having previously held minority stakes in the Memphis Grizzlies and a 5% interest in the Miami Heat. Furthermore, his wife, Karlie Kloss, is a limited partner in the WNBA’s New York Liberty, showcasing a broader family involvement in professional basketball. This high-profile purchase follows the withdrawal of Thrive Capital's $4.2 billion proposal for FIFA's commercial rights, a plan that faced considerable opposition from European soccer officials. Despite this setback, Kushner, whose fortune is estimated by Forbes at approximately $5.2 billion through successful investments in companies like Instagram, Spotify, Stripe, Slack, and OpenAI, pivoted decisively. The Lakers acquisition was facilitated through Thrive Eternal, Kushner’s permanent-capital investment company. As part of the transitional arrangement, Jeanie Buss is anticipated to continue her role as the Lakers' controlling governor for a minimum of five years, ensuring continuity and stability for the franchise.
This latest development highlights the dynamic nature of high-stakes investments and the readiness of astute investors to adapt and seize new opportunities. Kushner's rapid pivot from the FIFA bid to the Lakers acquisition demonstrates a keen eye for value and a resilient approach to market challenges. The record-breaking valuation of the Lakers also reflects the enduring appeal and financial strength of top-tier sports franchises, particularly in the NBA. It will be fascinating to observe how this new ownership, blending experienced business leadership with deep venture capital insights, will shape the future trajectory of the Los Angeles Lakers, both on and off the court.
