Josh Kushner's net worth reaches $16.7 billion as he secures a record $12.5 billion deal to purchase the Los Angeles Lakers.
Josh Kushner has seen his personal wealth surge to an estimated $16.7 billion, nearly triple the net worth of President Trump, following the announcement of a record-breaking $12.5 billion deal to purchase the Los Angeles Lakers. The deal, which would see Kushner and former Disney CEO Bob Iger acquire the team, is currently being finalized after a potential complication arose regarding the collective stake of the Buss family. Kushner's rapid wealth accumulation is primarily driven by his venture capital firm, Thrive Capital. The firm manages over $65 billion in assets, with investments in high-profile companies like SpaceX, OpenAI, and Spotify. Kushner's success is largely attributed to a high-performing investment strategy that has yielded an average annual return of 33% after fees, significantly outperforming the market. While the Lakers acquisition is a major milestone, Kushner's growing fortune provides him with the significant capital necessary to cover the purchase price. The deal is structured to potentially offer substantial tax benefits, allowing Kushner and Iger to amortize intangible assets over 15 years to lower their personal tax liabilities.