Josh Kushner and Bob Iger Acquire Los Angeles Lakers for $12.5 Billion

What's Happening? Josh Kushner, founder of Thrive Capital and brother-in-law to President Trump's son-in-law Jared Kushner, has teamed up with former Disney CEO Bob Iger to purchase the Los Angeles Lakers for a record-breaking $12.5 billion. Kushner, known for his investments in high-profile technol

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What is the story about?

What's Happening?

Josh Kushner, founder of Thrive Capital and brother-in-law to President Trump's son-in-law Jared Kushner, has teamed up with former Disney CEO Bob Iger to purchase the Los Angeles Lakers for a record-breaking $12.5 billion. Kushner, known for his investments

in high-profile technology companies and trendy brands, is expanding his influence in the sports industry. Thrive Capital, Kushner's venture firm, has a diverse portfolio including stakes in companies like OpenAI, SpaceX, and SKIMS. The acquisition of the Lakers marks a significant move in Kushner's career, further establishing his presence in the sports sector.

Why It's Important?

The acquisition of the Lakers by Kushner and Iger represents a major shift in sports ownership, highlighting the increasing involvement of tech and media moguls in the sports industry. This deal could influence the future of sports team ownership, potentially leading to more tech-driven management and marketing strategies. For Kushner, this purchase helps to diversify his investment portfolio and solidify his status as a major player in both the business and sports worlds. The involvement of Bob Iger, with his extensive experience in media and entertainment, could bring new opportunities for the Lakers in terms of branding and global reach.