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Who Is Josh Kushner, the New Owner of the $12.5 Billion Basketball Team?
The LA Lakers are reportedly being sold for approximately $12 billion to $12.5 billion, setting a new record as the most expensive sports team ever acquired in U.S. history. Even more intriguing is the fact that at the center of this blockbuster deal is not a traditional sports tycoon, but venture investor Josh Kushner, who made his name in Silicon Valley and the healthcare industry.
Josh Kushner is reportedly set to acquire the Lakers alongside former Disney CEO Bob Iger. However, the deal still requires official approval from the NBA, meaning it must undergo procedural review before the transfer of ownership can be finalized.
His path to this moment has been shaped more by technology and investing than by basketball. In 2009, Kushner founded the venture capital firm Thrive Capital, building enormous influence through investments in high-growth companies such as Instagram, Spotify, Stripe, Slack, and OpenAI. What sets him apart is that he is not simply an heir who inherited his wealth; he is an investor who has built his reputation by recognizing the potential of tech startups and allocating capital accordingly.
He has also established a strong presence in healthcare. Kushner is the co-founder and vice chairman of Oscar Health, a technology-driven health insurance company. His experience across venture capital, insurance, data, and platform businesses helps explain why he may view the Lakers not merely as a basketball franchise, but as a global content asset.
Of course, Josh Kushner is not entirely new to the world of sports. He is known to hold a minority stake in the Miami Heat, and he has also been linked to investments in the Memphis Grizzlies and the possibility of participating in an NBA expansion team in Las Vegas. The Lakers acquisition appears less like a sudden shift in interest and more like the biggest payoff yet from his long-expanding sports investment strategy.
What makes this deal remarkable is not just the price tag. The combination of Bob Iger, a symbol of the content industry, and Kushner, a powerhouse in technology investing, could reshape the Lakers’ future. Streaming, global media rights, digital fan services, data-driven marketing, and sports science—the Lakers could evolve beyond a team on the court into a massive entertainment platform.
Yet Kushner’s name inevitably carries political associations as well. Josh Kushner is the younger brother of Jared Kushner, son-in-law of former President Donald Trump, and the son of real estate developer Charles Kushner. As a result, some Lakers fans have expressed concern that the team is moving away from being a symbol of Los Angeles and toward becoming an asset controlled by the political and financial elite.
Ultimately, the Lakers’ new era comes down to two questions: Can Josh Kushner combine technology and content to establish a new standard for the NBA? And will fans embrace the team’s changing identity along the way? The $12.5 billion figure may be the price of the deal, but it carries a much larger debate about the future of sports.
The Lakers Acquisition and Josh Kushner: Why This Is More Than a Simple Team Purchase
The value of one team’s ownership stake jumped from $10 billion to $12.5 billion in just about 14 months. That figure does not merely reflect the overwhelming popularity of the Los Angeles Lakers. Rather, it signals that U.S. professional sports are being revalued beyond wins and losses on the court—as global media, content, data, and technology assets.
The Lakers acquisition involving Josh Kushner and former Disney CEO Bob Iger vividly symbolizes this shift. Although the deal still requires NBA approval, the reported purchase price of approximately $12 billion to $12.5 billion would rank among the highest ever recorded for a U.S. sports team.
From $10 Billion to $12.5 Billion: What Changed?
The Lakers’ controlling stake was reportedly acquired by Mark Walter from the Buss family in October 2025 for approximately $10 billion. The fact that discussions of a higher-priced resale emerged only about 14 months later is difficult to explain through traditional corporate valuation models alone.
Of course, the Lakers are already one of the most powerful sports brands in the world. The Lakers name carries with it the Los Angeles market, the NBA’s global reach, the legacy of legendary players, and Hollywood culture. But the latest surge in value can also be seen as reflecting the following sources of future growth:
- The expansion of global broadcasting rights and streaming markets
- The growth of social media-driven fandom and direct-to-consumer sales
- The monetization of sports betting, data, and digital memberships
- Brand expansion across overseas markets, including Asia, Europe, and the Middle East
- The growth of non-game content and licensing businesses
In other words, the Lakers are no longer merely an organization that sells tickets to basketball games. They are closer to a massive entertainment IP capable of selling videos, merchandise, experiences, and data to fans around the world.
Why the Josh Kushner–Bob Iger Combination Is Drawing Attention
The deal is attracting particular interest because of the backgrounds of the prospective buyers. Through Thrive Capital, Josh Kushner has invested in technology companies such as Instagram, Spotify, Stripe, and OpenAI. He has also been deeply involved in the healthcare and insurance industries through his co-founding of Oscar Health.
Bob Iger, meanwhile, built the playbook for content IP, global distribution, streaming, and brand expansion during his leadership of Disney. Their partnership can therefore be interpreted as a strategy not merely to “own” the Lakers, but to operate and scale the franchise for the digital age.
For example, the following developments could become increasingly important:
- Personalized digital fan services and subscription models
- Data-driven marketing tailored to individual players and fans
- Global distribution of documentaries, short-form videos, and live content
- More sophisticated player management through sports science and health tech
- Venue and content businesses that generate revenue beyond NBA game days
If Thrive Capital’s strength in technology investing is combined with Iger’s media expertise, the Lakers could become a new “tech-and-content management model” for U.S. professional sports.
A Deal That Could Affect the Value of the Entire NBA
A $12.5 billion valuation is not relevant only to the Lakers. It could also become a benchmark for the valuations of other NBA franchises based in major markets such as New York, San Francisco, and Chicago.
If the NBA expands into new markets such as Las Vegas in the future, expansion franchise fees and the value of stakes in existing teams could rise even further. Reports have also suggested that Josh Kushner and Iger initially considered joining a Las Vegas expansion team before shifting their focus to acquiring the Lakers.
Ultimately, this deal could change the answer to the question, “How much is an NBA team worth?” The value of a sports franchise is no longer determined solely by performance, stadium capacity, or local broadcasting rights. The potential for global brand expansion, content-production capabilities, data utilization, and the ability to integrate with technology are now becoming core valuation criteria.
The Bigger Question Fans Are Asking
Not every reaction, however, is driven by excitement. Josh Kushner is Jared Kushner’s younger brother and the son of Charles Kushner, making him a figure connected to the Trump family and therefore not immune to political controversy. As debates over the privatization of FIFA’s revenue structure resurface, some Lakers fans are also voicing concerns that sports may be becoming too heavily transformed into financial commodities.
These reactions go beyond simple opinions about the owners. At the heart of the debate is one fundamental question:
Is a sports team a symbol of its local community—or a massive media asset traded by global capital?
The Lakers acquisition offers a glimpse into the current answer from the U.S. sports industry. And Josh Kushner’s arrival suggests that answer may become even more technology-driven, more global, and, at the same time, more controversial.
The Rise of a Tech Capitalist Built by Josh Kushner and Thrive Capital
Instagram, Spotify, Slack, Stripe, and OpenAI. If all of these names appeared together in a single investment portfolio, it would be difficult to dismiss it as mere luck. Josh Kushner is not an investor who simply chases trends. He is a venture capitalist who has consistently bet on how technological change will transform the way people consume, work, make payments, and access information.
At the center of it all is Thrive Capital, the firm he founded in 2009. Thrive has focused on rapidly scalable markets such as technology, software, and fintech, building a strong presence in New York’s venture capital industry. The firm has drawn particular attention for seeking out early-stage companies with network effects and platform scalability, rather than investing primarily in already-established corporations.
Josh Kushner’s Investment Strategy: Betting on the Direction of Change, Not Just the Product
Several common themes emerge from Thrive Capital’s portfolio.
- Instagram transformed everyday life and brand marketing around images.
- Spotify shifted the music industry from an era of ownership to a subscription-based streaming model.
- Slack redefined collaboration and communication within companies.
- Stripe turned online payments into developer-friendly infrastructure.
- OpenAI elevated generative AI into an essential tool for consumers and businesses.
These companies operate in different industries, but they share one defining trait: they are platforms that have dramatically changed user behavior in the digital environment. What Josh Kushner identified was not a single service, but rather scalable technology ecosystems capable of attracting more users and businesses over time.
Combining Early-Stage Investing with Long-Term Capital
The success or failure of venture capital is not determined solely by the ability to discover promising companies early. Long-term capital—which gives businesses the time to grow amid market volatility, regulatory shifts, and intensifying competition—is equally important.
Thrive Capital has grown into an investment firm capable of both joining high-profile startups from their early stages and deploying substantial capital after those companies have significantly increased in value. In recent years, the firm has reportedly raised more than $10 billion, leading it to be viewed not simply as an early-stage investor, but as a major growth-capital player.
Thrive’s investment in OpenAI symbolizes this evolution. Thrive Eternal, an investment vehicle affiliated with Thrive, was reported to have invested approximately $1 billion in OpenAI. The deal demonstrates that Josh Kushner is betting heavily not only on social media and fintech, but also on the next industrial order shaped by AI.
From Tech Investor to Influential Capitalist
Josh Kushner’s influence extends beyond investment returns. Through Thrive Capital, he is connected to the growth of technology companies, networks of entrepreneurs, and the market for large-scale capital raising. Through the co-founding of Oscar Health, he also entered industries such as healthcare and insurance—sectors deeply shaped by regulation and public policy.
This background sets him apart from traditional financiers. Although he comes from a family background centered on real estate, his own business identity is more closely aligned with tech, healthcare, and the platform economy. His core competitive advantage lies in recognizing the potential of startups and connecting that potential to billions of dollars in capital.
Ultimately, the story of Thrive Capital’s growth goes beyond the success of a single investment firm. It is also the story of how Josh Kushner turned technological change into a capital opportunity and rose to the highest levels of American business.
From Insurance to the World Cup: The Shadow of Controversy Surrounding Josh Kushner
Josh Kushner’s business history cannot be reduced to a simple venture-investing success story. On one side is Oscar Health, a company seeking to transform the health insurance experience through technology. On the other is the controversy surrounding an effort to connect FIFA World Cup revenues with private capital. This contrast raises a broader question: Is Kushner an innovator—or an investor who views sports assets as financial products?
The Face of Healthcare Innovation: Oscar Health
Around 2012, Josh Kushner co-founded Oscar Health, a technology-driven health insurance company. In the U.S. health insurance market—long criticized as complex and inefficient—Oscar placed digital services and data utilization at the forefront of its strategy.
The company established a foundation for growth by offering individual and family insurance plans through the ACA, or Obamacare, marketplace. With reports emerging that Oscar recently posted record profits, Kushner has strengthened his presence not only as a venture investor but also as a healthcare entrepreneur.
Still, this success is closely tied to U.S. insurance policy and the regulatory environment. Technology can improve the insurance experience, but the structure of the industry also means that shifts in public policy can directly affect corporate growth and consumers’ freedom of choice.
The Questions Left Behind by the FIFA Privatization Controversy
The larger controversy arose from a business proposal related to FIFA. According to reports, FIFA considered creating a company to hold revenues from future World Cups and international tournaments, then selling part of its stake to private investors. In the process, Thrive Eternal, an investment vehicle affiliated with Thrive Capital, was reportedly discussed as a key investor.
The core criticism was clear: The World Cup is not merely commercial content, but a public asset created collectively by fans around the world, national teams, and local football ecosystems. Critics warned that if a portion of its revenues became a target for private-equity returns, short-term profitability could take priority over football’s long-term value.
Amid opposition from several football federations, the plan was ultimately reported to have been withdrawn. But the controversy did not disappear. It exposed a direct clash between the argument that sports need capital to grow and the counterargument that the core revenues of sport should not be turned into financial instruments.
Between Innovator and Financial Capitalist
At Oscar Health, the positive narrative centers on improving access to healthcare through technology. In the FIFA controversy, however, Kushner faced criticism for attempting to restructure the revenue model of global sports as an investment opportunity for private capital.
These two cases offer an important clue to understanding Josh Kushner. He is an investor who brings capital and technology into emerging industries, but he is also viewed with suspicion for extending financial logic into areas with strong public significance and cultural symbolism.
Following the acquisition of the LA Lakers, these questions are likely to grow even more prominent. Fans will be watching to see whether the new owner succeeds in expanding the team’s global value and digital revenue—or whether he will treat even one of the sport’s most storied franchises as merely another asset in an investment portfolio.
Lakers and Josh Kushner: From a Local Symbol to a Platform for Global Capital
For Lakers fans, the team is more than just a business. It is a symbol shaped by the legacy of stars ranging from Magic Johnson, Kobe Bryant, and Shaquille O’Neal to LeBron James, as well as by Los Angeles’s cultural pride. That is why the ownership bid involving Josh Kushner and Bob Iger raises a question that goes beyond a simple change in ownership: Whose team are the Lakers?
On one hand, expectations are high. The combination of Josh Kushner, whose Thrive Capital has strong expertise in technology investing, and Bob Iger, who has led the global content and entertainment industry, points to the possibility of expanding the Lakers into a much larger media and entertainment brand. If the team can connect streaming content, global fan communities, data-driven marketing, sports science, and health tech, the Lakers’ business influence could grow even further beyond the court.
But the unease among fans is equally clear. Because of the Kushner family’s ties to Jared Kushner and the family of former President Donald Trump, it is difficult to view Josh Kushner entirely apart from the political context surrounding his family. Criticism related to proposals to privatize FIFA revenue has added to those concerns, leading some fans to worry that sports are being transformed from assets of local communities into massive financial products.
Especially in a city like Los Angeles, with its distinct cultural and political identity, an owner’s background can carry meaning far beyond their business record. Fans do not want victories alone. They also care about the team’s relationship with the community, the values it represents, and whether it respects their voices.
Ultimately, the Lakers’ future will not be judged solely by a valuation of $12.5 billion. The real test will be whether Josh Kushner and Bob Iger can turn the Lakers into a global content platform while preserving the local identity and trust that fans have spent generations building.
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