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Josh Kushner's Tech Fortune Fuels $12.5 Billion Lakers Bid

From Tempo · () Indonesian

Translated from Indonesian, summarized and contextualized by DistantNews.

At a glance

News Named sources New plan
  • Josh Kushner, a venture capitalist, is set to become a key figure in one of the largest sports team transactions in history with a US$12.5 billion bid for the Lakers.
  • Kushner's wealth, estimated at US$5.2 billion, stems from early investments in tech startups like Instagram and OpenAI through his firm Thrive Capital.
  • The deal, which awaits NBA approval, highlights a growing trend of tech wealth intersecting with professional sports ownership.

Josh Kushner, a prominent American businessman and venture capitalist, is on the verge of a landmark deal, potentially acquiring the Los Angeles Lakers for US$12.5 billion. This move positions Kushner, whose net worth Forbes estimates at US$5.2 billion as of August 2026, at the forefront of one of the most significant transactions in professional sports history.

Kushner, 41, has built his substantial fortune not through his family's established real estate business, but by making strategic early investments in technology startups. His firm, Thrive Capital, which he founded in 2010, has backed influential companies such as Instagram, Spotify, Stripe, and OpenAI. Thrive Capital, valued at US$5.3 billion in early 2023, now manages approximately US$25 billion in assets, with Kushner owning a 66% stake.

Beyond his tech investments, Kushner also co-founded Oscar Health, a health insurance company. His foray into sports ownership is not entirely new; he previously held a minority stake in the Memphis Grizzlies and invested in the Miami Heat. The current Lakers deal, reportedly finalized in mere days alongside broadcasting executive Bob Iger, is poised to be the most expensive sports franchise acquisition ever, pending approval from the NBA's Board of Governors.

"Our intention is to build this great franchise from a position of strength in many respects as an organization," Iger stated, calling the purchase an "extraordinary" opportunity. The transaction underscores the increasing convergence of significant tech wealth and the lucrative world of professional sports.

Our intention is to build this great franchise from a position of strength in many respects as an organization.

— Bob IgerBob Iger commented on the Lakers purchase, calling it an extraordinary opportunity.
DistantNews Editorial

Originally published by Tempo in Indonesian. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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