The Lakers are reportedly being sold to Josh Kushner, the founder of Thrive Capital, and Bob Iger, the former CEO of Disney, for an unprecedented price exceeding $12 billion, as per sources referenced by Ramona Shelburne of ESPN.com.
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To enable the management of assets over extended periods that exceed typical technology venture timelines, Kushner established Thrive Eternal. This holding structure was designed specifically to secure permanent equity interests in leading sports, entertainment, and media companies. Kushner is wed to supermodel and entrepreneur Karlie Kloss, with whom he has two children. Kushner has cultivated a unique public and political identity Although his family has significant connections to Republican politics. He has been a registered Democrat for his entire life and has made public donations to Democratic campaigns, such as March for Our Lives, as well as to various progressive social initiatives.
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Stripe, Spotify, and Oscar Health : Thrive was instrumental in early-stage investments in fintech, streaming services, and digital healthcare (Kushner co-founded Oscar Health in 2012). Kushner and Iger issued a statement regarding the sale, which included the following excerpt, “We are deeply honored for the opportunity to become stewards of the Los Angeles Lakers. … 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. The Lakers belong to Los Angeles, and I have every confidence the best is still ahead. OpenAI : Kushner’s firm led substantial funding rounds for the ChatGPT developer, becoming one of its primary institutional supporters. Skims : Thrive made significant investments in Kim Kardashian’s multi-billion-dollar clothing brand.
In another statement, Walter said, “Owning the Los Angeles Lakers has been one of the great honors of my life — an extraordinary investment, but what I will carry with me is the community, the fans, and a city that treats this team as family. …
Kushner and Iger had previously participated in the expansion efforts in Las Vegas . However, in a surprising development, they shifted their focus to present a bold offer to acquire the Lakers from Mark Walter, who had acquired a controlling stake in the team from the Buss family last year.
