Joshua Kushner Buys Los Angeles Lakers for $12.5 Billion, Expanding Into Sports

Joshua Kushner, younger brother of Jared Kushner, has acquired the Los Angeles Lakers basketball team in a $12.5 billion deal completed within 72 hours. Known for building his wealth through investments in technology, Joshua is now entering the sports world, adding the iconic Lakers franchise to his portfolio. His venture capital firm, Thrive Capital, focuses heavily on artificial intelligence and innovative technologies, with major stakes in companies like OpenAI, Stripe, and SpaceX. Joshua has previously held minority shares in other sports teams, including the Memphis Grizzlies and Miami Heat, though he will sell his Heat shares to comply with ownership rules. Earlier this year, Thrive also purchased a stake in the San Francisco Giants baseball team.

The Kushner family’s history reflects the American dream, with their grandparents surviving the Holocaust and establishing a powerful real estate empire in New Jersey. Thrive Capital is now one of the largest shareholders in OpenAI, which is valued at $852 billion and expected to go public soon. Despite the firm’s concentrated investment strategy in OpenAI, which carries risks amid rising competition from companies like Anthropic, Joshua is diversifying by investing in "timeless" assets like the Lakers through a branch called Thrive Eternal, which focuses on assets less vulnerable to AI disruption.

Sources close to Joshua Kushner emphasize that he will not interfere with basketball operations or team management, stating, "This is simply not his way." The acquisition marks a significant expansion from technology into traditional sports franchises for Kushner, who continues to build a diverse investment empire.