Avoiding the family drama: How Josh Kushner built a $16-billion legacy and became the newest owner of the Lakers

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Set us as preferred When news broke that Mark Walter’s insurance businesses were under federal investigation and that the Lakers and Dodgers owner might be in financial trouble, Josh Kushner sensed a business opportunity.The New York venture capitalist called former Disney Chief Executive Bob Iger — his partner in a bid for a new Las Vegas NBA franchise — wondering if they might instead snap up Los Angeles’ marquee basketball team.The two quickly agreed, Kushner contacted Walter and within 72 hours the deal was done to avoid a bidding war.And with that, the younger brother of Jared Kushner, President Trump’s son-in-law, was thrust into a media spotlight he has largely shunned.

Business With the Department of Justice, the SEC and state insurance regulators probing Mark Walter’s businesses, the Dodgers owner has a lot on the line.But while Kushner may be relatively unknown compared with his politically active brother, he has rapidly and quietly risen to the upper echelons of business, with an estimated net worth of $16.7 billion.His Thrive Capital, which he founded in 2010 while attending Harvard Business School, has more than $65 billion under management.

Its investments include some of the world’s top young companies, including OpenAI, SpaceX and rapidly expanding Southern California defense contractor Anduril.Kushner declined to be interviewed.People who work with the investor credit his business acumen, low-key demeanor and daunting work ethic, qualities that have attracted partners, founders and mentors alike — including Iger.“I was immediately impressed with Josh’s curiosity, which seems limitless, and that’s something that draws me to people in general ...

particularly in people who want to get ahead in the business world,” Iger said in an interview.But Kushner’s rise has been far from smooth.H...