Josh Kushner Emerges from Shadows as New Lakers Owner in Record $12.5 Billion Deal With Bob Iger

A relatively private billionaire investor and venture capitalist has suddenly thrust himself into the national spotlight following his agreement this week with Bob Iger, the former chief executive of Disney, to acquire the NBA’s Los Angeles Lakers. The purchase price of $12.5 billion represents the most expensive sports franchise transaction in history, fundamentally shifting the landscape of team ownership.

Josh Kushner, 41, has long maintained a low public profile despite commanding a venture capital empire worth an estimated $5 billion according to Forbes. His partner in this landmark acquisition, the 75-year-old Iger, brings decades of experience running one of the world’s largest entertainment conglomerates before stepping down earlier this year. The duo will assume control from Mark Walter, who had owned the team for only 10 months.

Kushner founded Thrive Capital in 2009 and the health insurance startup Oscar Health in 2012, becoming a prominent early investor in companies including OpenAI and SpaceX. His connection to Iger developed eight years ago through their respective partners—Iger’s wife Willow Bay and supermodel Karlie Kloss, whom Kushner later married. The relationship evolved from informal mentorship into substantive business collaboration when Iger joined Thrive Capital as a venture partner in 2022.

The two men were initially pursuing an NBA expansion franchise in Las Vegas before learning of the Lakers’ potential availability last weekend. According to Iger’s account, the transaction moved with remarkable speed, finalizing within three days. He stated that the accelerated timeline meant the owners had not yet developed comprehensive long-term strategic plans for the franchise.

Kushner previously held a minority ownership stake in the Memphis Grizzlies, which he sold to acquire an interest in the Miami Heat. He must divest from the Heat to complete the Lakers transaction. Iger, meanwhile, grew up as a Knicks supporter and became a prominent Clippers fan after relocating to Los Angeles, even purchasing season tickets and developing a friendship with former point guard Chris Paul.

Kushner’s political philosophy diverges markedly from his brother Jared Kushner, the son-in-law of former President Donald Trump, and their father Charles Kushner. Josh Kushner has consistently donated to progressive political candidates and stated in prior interviews that “liberal values have guided my life.” His wife Kloss actively advocates for reproductive rights and other progressive causes.

Iger has characterized himself as a political independent holding progressive personal convictions. He briefly participated in a Trump administration business advisory council in 2017 before resigning due to environmental conservation concerns. The ownership transition marks a significant moment for the franchise, which has won 17 NBA championships in its storied history.