Who is Josh Kushner? Thrive Capital founder to buy LA Lakers at NBA-record $12.5 bn ( ₹1,18,812.5 cr) value with Bob Iger
Josh Kushner is close to becoming the owner of the Los Angeles Lakers. The Thrive Capital founder and former Disney chief executive Bob Iger agreed in August to buy the team at a $12.5 bn ( ₹1,18,812.5 cr) valuation, a record for an NBA club, as per ESPN.
Where the Los Angeles Lakers deal stands
The sale is not yet complete. On October 30, ESPN and the Los Angeles Times reported that Josh Kushner and Lakers owner Mark Walter had agreed on all remaining terms at a meeting at Walter’s home in Florida. The formal agreement still has to be signed. The NBA will then review it, and the league’s Board of Governors must approve it before the sale becomes official. Notably, Kushner has assured Walter he has raised all the money needed to complete the deal.
Mark Walter bought a controlling stake from the Buss family in 2025 at a valuation of about $10 bn ( ₹95,050 cr), which was then a record. The new deal beats that mark.
From Las Vegas to Los Angeles
Josh Kushner and Bob Iger were first linked to a possible NBA expansion team in Las Vegas. As per Reuters and ESPN, they changed course and made an offer for the Lakers instead.
In a joint statement after the August agreement, Kushner and Iger said: “As lifelong NBA fans, we are deeply honoured for the opportunity to become stewards of the Los Angeles Lakers, one of the most iconic sports franchises in the world. We have immense respect for the leadership and vision of Jerry and Jeanie Buss. Our long-term commitment is to build on that foundation, compete at the highest level, and serve this extraordinary team, its fans, and the city of Los Angeles.”
Who is Josh Kushner?
Josh Kushner is a venture capitalist and the founder and chief executive of Thrive Capital, a New York investment firm. Thrive has backed OpenAI, the company behind ChatGPT, among other technology companies. Kushner also co-founded Oscar Health, a US health insurance company.
He comes from a real estate family. He is the younger brother of Jared Kushner, who is married to Ivanka Trump, US President Donald Trump’s daughter. Josh Kushner is married to supermodel Karlie Kloss.
Record value in context
As per ESPN Research, the LA Lakers now account for the two highest prices paid for a professional sports franchise: $12.5 bn in 2026 and $10 bn in 2025. Next on the list is the Seattle Seahawks sale at $9.6 bn ( ₹91,248 cr) in 2026, followed by the Boston Celtics at $6.1 bn ( ₹57,980.5 cr) in 2025.
What comes next
The deal moves to the NBA review once the agreement is signed. Notably, the league’s review usually takes time because it examines financing and ownership structure. Until the Board of Governors approves the sale, Mark Walter remains the Los Angeles Lakers’ controlling owner.
