Josh Kushner moves into spotlight after stunning purchase of Lakers with Bob Iger

Key Points:

• Josh Kushner, a billionaire tech investor and brother of Jared Kushner, has partnered with former Disney CEO Bob Iger to purchase the NBA’s Los Angeles Lakers for $12.5 billion, marking the highest-ever valuation for a team sports sale.
• The deal was finalized rapidly within three days after learning that current owner Mark Walter might sell, surprising Los Angeles sports fans given the new owners' lack of prior Lakers ownership experience.
• Kushner, founder of Thrive Capital and former minority NBA team owner, and Iger, a longtime basketball fan with ties to the Clippers and Knicks, were introduced years ago through their partners and have maintained a close business relationship.
• Despite sharing the Kushner name, Josh Kushner holds progressive political views and has donated to liberal candidates, contrasting with his brother Jared and father Charles Kushner’s conservative stances; Iger also identifies as a political independent with progressive leanings.
• This acquisition follows Kushner’s recent failed bid related to World Cup profits and represents a significant expansion of his sports and business portfolio alongside a prominent entertainment industry figure.