Josh Kushner is buying the LA Lakers for $12.5 billion
6 Video Views·Aug 14, 2026
Josh Kushner made an early bet on OpenAI. Now he's buying the L.A. Lakers for $12.5 billion with Bob
Iger. Kushner's portfolio is stacked. He founded Thrive Capital back in 2011 when he was just 26
years old. And since then, his firm has backed some of the most notable startups of the past
decade, including Instagram, Spotify, and OpenAI. Kushner told Fortune in 2024 that his decision to
back OpenAI, even when founder Sam Ullman warned him it was anything but a sure bet,
was because he believed in the person running the company and had a gut instinct OpenAI would stand
the test of time. Our view is there's going to be multiple winners in this space, but our belief is
that OpenAI is going to be one of those and we feel very lucky to be partnered with them. Ullman
previously told Fortune that Kushner is known for his high conviction bets on high-quality
companies and founders, and he doesn't care too much about what other investors think.
Now Kushner's bid with Disney's former CEO to purchase the Lakers is pending approval
from the NBA's board of governors. But if it goes through,
it would mark the largest sale price for a professional sports team in U.S. history.