Josh Kushner spent most of the last decade avoiding the spotlight. That changed on August 12, 2026, when the venture capitalist and Thrive Capital founder confirmed, alongside former Disney CEO Bob Iger, an agreement to buy the Los Angeles Lakers for a record-setting $12.5 billion. So who is Josh Kushner, and how did a low-profile investor from New Jersey end up owning one of the most valuable sports franchises on the planet? Here’s the full picture — his background, how he built his fortune, and the deals making headlines right now.
Who Is Josh Kushner? Early Life and Education
Joshua Kushner was born on June 12, 1985, in Livingston, New Jersey, into the Kushner family — a real estate dynasty led by his father, Charles Kushner. His older brother is Jared Kushner, son-in-law and senior advisor to President Donald Trump. Unlike his brother, Josh steered clear of the family real estate business and the political spotlight, building an identity almost entirely separate from it.
He enrolled at Harvard University in 2004, earning a bachelor’s degree in government in 2008, followed by an MBA from Harvard Business School in 2011. While still an undergraduate, Kushner co-founded Vostu, a Brazilian social gaming company, alongside Mario Schlosser and Daniel Kafie — an early, formative bet on internet businesses years before “startup” became a mainstream career path. After Harvard, he spent a short stint in the private equity arm of Goldman Sachs, working on distressed debt, before striking out on his own.
Founding Thrive Capital
In 2009, at just 24 years old, Kushner founded Thrive Capital, a New York-based venture firm focused on software, media, and internet companies. Early funds were modest — Thrive II raised $40 million in 2011 — but the firm’s trajectory changed fast. Kushner became the second-largest investor in Instagram’s Series B funding round; when Facebook acquired Instagram in 2012, the fund’s stake roughly doubled in value almost overnight.
That early win set the tone. Over the following fifteen years, Thrive built a portfolio that reads like a shortlist of the most consequential companies of the era: Spotify, Stripe, Slack, Robinhood, Warby Parker, Glossier, GitHub (acquired by Microsoft), Twitch, Patreon, A24, Databricks, and — more recently — OpenAI. The firm has raised more than $7 billion from institutional investors over its history, including endowments like Princeton University. By 2026, Thrive’s assets under management had grown to roughly $50 billion, with Kushner retaining an ownership stake of around 96.7% of the firm itself.
Oscar Health: Betting on Insurance Disruption
Venture investing wasn’t Kushner’s only bet. In 2012, he co-founded Oscar Health, a technology-driven health insurance company built to take advantage of the newly created Affordable Care Act marketplaces. Kushner has served as co-founder and vice-chairman since its founding. Oscar’s path to profitability was long and, at times, rocky — but the company has more recently posted record profits, validating a wager that healthcare, like media and software before it, was ripe for a tech-driven overhaul.
How Josh Kushner Built His Fortune
As of mid-August 2026, Forbes estimates Kushner’s net worth at $5.2 billion. The overwhelming majority of that fortune traces back to his ownership of Thrive Capital — Forbes puts his stake at roughly 66%, following a January 2023 transaction in which outside investors, including Disney’s Bob Iger and billionaires like Henry Kravis and Mukesh Ambani, bought into the firm at a $5.3 billion valuation.
It’s worth separating two things that often get conflated: the size of a venture fund and a founder’s personal wealth. When Thrive raises a new $10 billion fund, that capital belongs to the fund’s outside investors, not to Kushner personally. His actual net worth comes from his ownership stake in the management company, his share of investment profits (carried interest), and his other personal assets — not from the total pool of money Thrive manages on behalf of others. Notably, Forbes’ estimate has historically excluded any future inheritance from the broader Kushner family real estate empire, treating Josh’s fortune as something he built independently through Thrive and Oscar Health.
Recent Purchases: The Lakers Deal and More
Kushner’s biggest and most public move to date came together fast. According to ESPN’s Ramona Shelburne, Kushner and Iger approached Lakers owner Mark Walter with an offer just days before the deal was announced. Walter had only owned a controlling stake in the team for about 14 months, having bought out the Buss family in 2025 at a $10 billion valuation — itself a record at the time. The new deal buys out Walter’s roughly 80% stake at a $12.5 billion valuation, the highest price ever placed on a U.S. sports franchise, surpassing even the $9.6 billion sale of the Seattle Seahawks earlier in 2026.
In a joint statement, Kushner and Iger said they were deeply honored for the opportunity to become stewards of the Los Angeles Lakers, and pledged to build on the foundation set by the Buss family. The deal still requires NBA approval and Thrive’s standard due diligence process before it closes. Lakers star Luka Dončić and minority owner Jeanie Buss both publicly welcomed the new ownership group following the announcement.
The Lakers deal isn’t Kushner’s first move into sports ownership, and it won’t be his last piece of business this year. Some of the other notable developments around him in 2026 include:
- Existing team stakes: Kushner already holds a 2.5% minority stake in the Memphis Grizzlies (acquired in 2019) and a minority stake in the Miami Heat. Under NBA cross-ownership rules, he’s expected to divest both as part of taking control of the Lakers.
- A pivot from NBA expansion: Before the Lakers opportunity emerged, Kushner and Iger had been exploring a bid for an NBA expansion franchise in Las Vegas.
- A World Cup stake attempt: In late July 2026, Kushner was reported to be among a group of private investors seeking to buy a stake tied to the World Cup. The proposal drew sharp criticism from soccer’s governing bodies and was ultimately scrapped by FIFA.
- A new mega-fund: In February 2026, Thrive Capital closed its largest fund yet — roughly $10 billion — earmarked for investments across artificial intelligence, robotics, space, and life sciences.
- A stake in baseball: Earlier in 2026, Thrive also took a minority position in the San Francisco Giants through a separate investment vehicle focused on cultural and sports assets.
Bob Iger’s involvement adds another layer of intrigue. Iger served as a venture partner at Thrive Capital after his first stint as Disney CEO ended, before returning to lead Disney again in 2022. With Disney leadership now behind him, Iger has taken on an advisory role at Thrive — and, as of this month, a co-ownership role in one of basketball’s most storied franchises.
Personal Life
Kushner married supermodel Karlie Kloss in 2018; the couple has three children together. The family lives in a penthouse at the Puck Building in New York City — a property owned by the Kushner family and, fittingly, also home to Thrive Capital’s headquarters. Beyond that, Kushner keeps a low public profile: he rarely gives interviews, avoids the political commentary associated with other members of his family, and is generally described as more reserved and policy-focused than flashy. Politically, he’s been noted as more liberal-leaning than much of the rest of the Kushner family, though he has largely stayed out of public political activity himself.
Josh Kushner vs. Jared Kushner: Clearing Up the Confusion
Because they share a surname and a family, Josh and Jared Kushner are frequently mixed up. Jared Kushner is the older brother, married to Ivanka Trump, and best known for his role as senior advisor in the Trump White House and his real estate and private equity background. Josh Kushner built an entirely separate career in venture capital and healthcare technology, largely apart from the family’s real estate business and Washington political circles. The two occupy very different worlds — one in politics and real estate, the other in startups, technology, and now, professional sports.
FAQ
Who is Josh Kushner related to?
He’s the son of real estate developer Charles Kushner and the younger brother of Jared Kushner, senior advisor to President Donald Trump.
How did Josh Kushner make his money?
Primarily through his roughly 66% ownership of Thrive Capital, the venture capital firm he founded in 2009, along with his co-founder stake in Oscar Health.
What is Josh Kushner’s net worth in 2026?
Forbes estimates his net worth at $5.2 billion as of August 2026.
Did Josh Kushner buy the Los Angeles Lakers?
Yes. On August 12, 2026, Kushner and former Disney CEO Bob Iger agreed to buy the Lakers from Mark Walter at a $12.5 billion valuation, a record for a U.S. sports franchise. The deal is pending NBA approval.
Conclusion
Josh Kushner’s path — from a Harvard dorm-room gaming startup to a $50 billion venture firm, a disruptive health insurer, and now a record-breaking NBA franchise — is a reminder that some of the biggest fortunes are built quietly, one calculated bet at a time. With the Lakers deal still pending approval and Thrive’s newest fund already deploying capital into AI and beyond, 2026 looks likely to be the year Josh Kushner stops being the “other” Kushner and becomes a headline in his own right.