Josh Kushner and Bob Iger Agree to Buy Lakers for $12.5B

Josh Kushner and former Disney chief executive Bob Iger have agreed to buy the Los Angeles Lakers from Mark Walter's ownership group for $12.5 billion, creating the most expensive professional sports franchise transaction ever reported. The deal, announced on August 12, has immediately put Kushner at the center of the NBA's biggest ownership story and raised new questions about who he is, how much he is worth and why a prominent technology investor is moving deeper into professional sports. The transaction still requires approval from the NBA Board of Governors and remains subject to due diligence.

Why Josh Kushner is buying the Lakers

The Lakers deal did not begin as a straightforward attempt to purchase one of basketball's most famous franchises. Kushner and Iger had been involved in efforts connected to a potential NBA expansion team in Las Vegas. According to Iger's account, the situation changed when they learned that Mark Walter was willing to sell his controlling interest in the Lakers. The two investors then shifted their attention toward the existing franchise and moved quickly on an offer that ultimately valued the team at $12.5 billion.

The speed of the agreement is one of the most striking details. Iger said the transaction came together in only three business days, illustrating how unusual the opportunity was for the two prospective owners. Rather than waiting for an expansion franchise to become available, they were suddenly positioned to pursue one of the most valuable and recognizable teams in global sports.

What the $12.5 billion Lakers deal means

The $12.5 billion price represents a dramatic increase from the valuation attached to the Lakers when Walter's group acquired controlling interest in the franchise. Walter's purchase was valued at about $10 billion, meaning the latest agreement represents a roughly $2.5 billion increase in reported franchise value in a little more than a year. Reuters described the transaction as a record-breaking valuation for a North American sports franchise.

The transaction also highlights how quickly elite sports franchises are becoming institutional investment assets. The Lakers are not simply a basketball team; they combine one of the world's most recognizable sports brands with a massive media market, global fan base and long-term commercial opportunities. The entrance of Kushner's investment operation into that environment shows how venture-capital and permanent-capital investors are increasingly looking beyond traditional technology companies for assets that can retain value over decades.

Who is Josh Kushner?

Josh Kushner is an American businessman and investor best known as the founder and managing partner of Thrive Capital, a venture capital firm established in 2010. Thrive built its reputation by investing in technology and internet companies, including Instagram, Spotify and Stripe, while also backing other high-profile businesses. Forbes estimated Kushner's real-time net worth at approximately $5.2 billion in July 2026, largely tied to his ownership stake in Thrive Capital.

Kushner has also expanded beyond traditional venture investing. Thrive has increasingly pursued opportunities in areas such as entertainment and sports, with the firm's investments including A24 and a minority stake in the San Francisco Giants. The Giants investment came through Thrive Eternal, a newer strategy designed to make long-term investments in sports franchises and cultural institutions.

That background helps explain why the Lakers purchase is significant. Kushner is not approaching the team solely as a celebrity-backed investment. His recent moves suggest a broader strategy of owning or investing in established cultural properties that can operate as long-duration assets, complementing the technology investments that built his fortune.

Is Josh Kushner related to Jared Kushner?

Yes. Josh Kushner is the younger brother of Jared Kushner, the businessman and former senior adviser to Donald Trump. Their father is real estate developer Charles Kushner. Despite their family connection, Josh and Jared have developed substantially different public business profiles. Josh built Thrive Capital and has primarily operated in venture capital and technology, while Jared became closely associated with real estate, government and politics.

The family connection is likely to remain a major search topic following the Lakers announcement, particularly because the Kushner name has become closely associated with American political and business circles. However, the Lakers transaction itself is being driven by Josh Kushner's investment activities and his partnership with Iger, rather than by Jared Kushner's political career.

What is Josh Kushner's net worth?

Forbes estimated Josh Kushner's net worth at about $5.2 billion as of July 28, 2026. Much of that wealth is connected to his stake in Thrive Capital, the investment firm he founded. Forbes has reported that Thrive manages tens of billions of dollars in assets and has backed some of the most prominent technology companies of the past decade.

His estimated personal wealth should not be confused with the $12.5 billion Lakers purchase price. The franchise is being acquired through an investment structure involving Kushner's Thrive Eternal strategy and Iger, meaning the reported transaction value is the price of the asset rather than an indication that Kushner personally has $12.5 billion in cash. The final ownership and financing structure will become clearer as the transaction moves through the NBA approval process.

What happens to Jeanie Buss?

One of the most important continuity questions concerns Jeanie Buss, who remained Lakers governor after Walter's acquisition of controlling interest from the Buss family. Iger has said that he and Kushner intend to honor the existing agreement keeping Buss in the governor role for at least five years. He also emphasized their respect for Buss and the contribution of her family to the Lakers organization.

That means the ownership change does not automatically translate into an immediate front-office overhaul. Iger has also indicated that no immediate organizational or roster changes are planned, although decisions could evolve once the transaction is completed. For Lakers supporters, the distinction between a change in ownership and an immediate change in basketball operations will be an important part of the story in the coming months.

When will Josh Kushner officially become a Lakers owner?

The agreement is not yet the final legal completion of the sale. The transaction requires approval from the NBA Board of Governors, with the next scheduled meeting expected in September, while Kushner's investment group completes due diligence. Until those steps are completed, Walter's group remains the controlling ownership group.

For now, the $12.5 billion agreement establishes the direction of the franchise rather than completing the transfer. If approved, the deal will bring together Kushner's investment background and Iger's decades of experience in entertainment and sports media. Iger also has a controlling stake in Angel City FC, giving the incoming ownership group experience in the broader Los Angeles sports market.

Why the Lakers sale matters beyond Los Angeles

The Lakers transaction is bigger than a change of ownership at one NBA team. It is another example of the enormous financial growth surrounding professional sports franchises and the willingness of wealthy investors to pay record prices for globally recognized teams. Walter's reported $10 billion valuation was already a historic figure; the new $12.5 billion agreement pushes that benchmark substantially higher in a remarkably short period.

It also gives Josh Kushner a much larger platform in sports. His investment in the San Francisco Giants through Thrive Eternal showed that his firm was testing the sports market. The Lakers represent a vastly larger commitment and could establish the strategy as a major part of Kushner's business empire.

The immediate question is therefore not simply who owns the Lakers, but what kind of ownership model Kushner and Iger intend to build. Their stated commitment to continuity with Buss suggests caution at the start, while the scale of the investment indicates that the long-term commercial potential of the franchise will be a central consideration. The next major milestone will be NBA approval, after which the new ownership group can begin putting its plans into action.

Looking for the people involved? Read complete biographies at BiographyPoints.com.

Frequently asked questions

Who is Josh Kushner?
Josh Kushner is the founder and managing partner of Thrive Capital, a major venture capital firm. He has invested in numerous technology and consumer companies and has increasingly moved into sports and entertainment investments.

Is Josh Kushner buying the Lakers?
Yes. Josh Kushner and Bob Iger have agreed to acquire the Lakers from Mark Walter's ownership group for a reported $12.5 billion, subject to NBA approval and due diligence.

What is Josh Kushner's net worth?
Forbes estimated Kushner's net worth at approximately $5.2 billion in July 2026, with much of his wealth tied to his stake in Thrive Capital.

Is Josh Kushner related to Jared Kushner?
Yes. Josh Kushner is Jared Kushner's younger brother and the son of real estate developer Charles Kushner.

Will Jeanie Buss remain with the Lakers?
Iger has said that he and Kushner intend to honor the existing agreement that keeps Jeanie Buss as Lakers governor for at least five years.