Joshua Kushner Acquires Los Angeles Lakers for Record $12.5 Billion
Billionaire Joshua Kushner, along with Bob Iger, has purchased the Los Angeles Lakers for $12.5 billion, a record deal. OpenAI CEO Sam Altman previously noted Kushner's tendency to make high-conviction bets. The acquisition highlights Kushner's bold investment strategy.
The proposed $12.5 billion transaction, which still requires NBA Board of Governors approval, would set a new benchmark for U.S. sports franchise sales. Kushner, who founded Thrive Capital in 2011, is partnering with former Disney CEO Bob Iger on the deal.
Thrive has committed over $2 billion to OpenAI, including a recent $1 billion investment at a $285 billion valuation. Kushner follows a long-term compounding philosophy inspired by Munger and Buffett, and OpenAI's Sam Altman has highlighted his tendency to make independent, high-conviction bets.
This record valuation could reshape the economics of professional sports, potentially raising the bar for future franchise sales and influencing ticket prices and local revenue. The entry of a tech-focused investor like Kushner may also signal a growing trend of venture capital merging with traditional sports ownership, potentially altering how teams are managed and marketed. Fans and the Los Angeles community could see shifts in team culture and financial priorities, though the immediate impact remains subject to league approval and long-term strategic decisions.