Thrive's Kushner Breaks Silence on FIFA Investment, Enlists Musk's Lawyer

Josh Kushner, founder of Thrive Capital, issued a statement defending his firm's involvement in a proposed FIFA commercial entity, saying they would not have participated had they foreseen the controversy. The plan, which would have allowed private investors to buy shares from member associations, was scrapped after European teams objected. Thrive has hired Elon Musk's go-to lawyer as legal scrutiny intensifies.

The proposed FIFA Forward Enterprise would have let all 211 member associations hold ownership stakes in commercial rights tied to events like the World Cup, with the option to sell those stakes to outside investors. Thrive had agreed to anchor a $4.2 billion secondary purchase, valuing the entity at roughly $20 billion, with JPMorgan helping recruit additional backers.

Opposition from UEFA and Concacaf, whose members currently receive a disproportionate share of revenue, halted the plan before any formal vote. UEFA's legal action now seeks Thrive's valuation records, deal communications, and co-investor identities, prompting Kushner's public statement and the retention of Elon Musk's attorney.