Josh Kushner's $12.5B Lakers Bid Could Set Record

Josh Kushner is on the verge of expanding his sports investment portfolio with a $12.5 billion bid for a controlling interest in the Los Angeles Lakers. If the NBA’s Board of Governors approves this transaction, it will mark the largest sale of a U.S. professional sports team to date.

Kushner, 41, is the founder and managing partner of Thrive Capital, which has invested over $2 billion in OpenAI, including a $1 billion investment reported in December at a $285 billion valuation. Thrive Capital also holds non-controlling stakes in the Miami Heat and San Francisco Giants and previously invested in the Memphis Grizzlies.

Kushner has collaborated with Lakers co-investor Bob Iger on this bid since last year and has also explored the possibility of an NBA expansion team in Las Vegas. His investment strategy focuses on long-term commitments to individuals and their companies, as noted by OpenAI CEO Sam Altman.