Josh Kushner's net worth has tripled to $16.7 billion in the past year, fueled by Thrive Capital's asset surge and a big stake in SpaceX. That fortune now includes a pending deal to buy the Los Angeles Lakers for a record $12.5 billion, which still needs NBA approval.
Thrive Capital, the firm Kushner founded, now runs more than $65 billion in assets — nearly triple the $23 billion it had in December 2024. His early investment in SpaceX at a $38 billion valuation has paid off handsomely. After SpaceX went public in June, his stake is worth $10 billion. The company's $60 billion acquisition of AI coding startup Cursor doubled the value of his 7% stake to $4.2 billion.
Kushner also holds a stake in OpenAI, which was last valued at $852 billion in March. The company is expected to go public within the year.
The Lakers Deal
On August 12, Kushner and former Disney CEO Bob Iger agreed to buy the Los Angeles Lakers for $12.5 billion. The Buss family's siblings have agreed to sell their remaining stake, pushing Kushner and Iger's combined ownership to roughly 83%. The deal still requires approval from the NBA's Board of Governors, which is scheduled to meet in September.
Other Holdings and Returns
Kushner's portfolio includes stakes in Databricks, Stripe, Anduril, Instagram, and Spotify. He has told investors that his funds have averaged 33% annual returns after fees, roughly double the S&P 500's pace. According to Forbes, his wealth is now nearly 17 times that of his brother Jared.
Kushner posted on X about a $2 billion raise for Thrive Holdings at a $12.5 billion valuation, but he didn't mention the Lakers in that post. The immediate next step is the NBA Board of Governors meeting in September, where the Lakers deal will be decided. If approved, the team joins a portfolio that already includes some of the biggest names in tech. And with OpenAI's IPO likely on the horizon, his fortune could climb again.
