In a highly surprising and remarkably costly move for this decade, Josh Kushner paired up with Bob Iger to place a bid on the Los Angeles Lakers, a transaction that pegs the franchise’s value at a staggering $12.5 billion. The primary complication, however, is that their documented net worth falls short of this figure. Kushner’s wealth hovers near $5.2 billion, whereas Iger’s net worth is believed to be about $700 million, bringing their combined assets to approximately $5.9 billion. This raises the question of how two individuals whose total fortune is less than half of the team’s valuation can pull off such an acquisition, and what drives these East Coast entrepreneurs to seek ownership of LA’s most legendary basketball team?
Rising From an Unsuccessful University Publication to Multi-Billionaire Status
Growing up in New Jersey, Josh Kushner pursued his undergraduate degree at Harvard College prior to enrolling at Harvard Business School. His path to triumph was far from instant. As a sophomore at Harvard, he co-founded a collegiate pop-culture magazine named Scene, which flopped and failed to transform into a major media powerhouse. Several of his subsequent early entrepreneurial ventures likewise faltered, until Kushner ultimately established the enterprise that would generate the bulk of his net worth: Thrive Capital.
Established in 2009, Thrive achieved prominence in the venture capital landscape by making early-stage investments in tech firms. Kushner famously put money into Instagram prior to its $1 billion buyout by Facebook. Over time, Thrive also invested in major brands like Spotify, Stripe, and OpenAI, all while securing billions from external backers. Crucially, the majority of Kushner’s multi-billion-dollar valuation is bound up in his equity in Thrive, as opposed to having $5 billion sitting in liquid cash.
An Evolution from Aspiring Journalist to Disney Chief Executive
September 23, 2024; Los Angeles, California; Angel City FC leader Julie Uhrman chats with Disney CEO Bob Iger and Ben Grossman ahead of the kickoff at BMO Stadium. Credit: Jayne Kamin-Oncea-Imagn Images
Bob Iger’s career journey started with a more traditional media path rather than the venture capital route. Raised in New York, he studied at Ithaca College and earned his degree in radio and television. Setting his sights on a career as a news broadcaster, Iger took on television roles during his university years before securing a position with ABC in 1974.
His subsequent achievements are well-documented. He climbed the corporate ladder at ABC, which eventually led to his tenure as one of the most influential leaders in Disney’s history. While heading the media giant, Iger oversaw the strategic buyouts of Pixar in 2006, Marvel in 2009, Lucasfilm in 2012, and the bulk of 21st Century Fox in 2019. Essentially, his career was built on scaling prominent entertainment brands into massive cornerstones of a global media empire.
Acquiring a legendary basketball team like the Lakers is quite different from purchasing Marvel, yet the core strategy remains the same: secure ownership of a premier global brand and unlock new ways to maximize its overall worth.
What Makes the Lakers So Desirable?
March 3, 2026; Los Angeles, California; The retired numbers of Lakers icons, including Jamaal Wilkes, Wilt Chamberlain, Elgin Baylor, Shaquille O’Neal, Jerry West, Magic Johnson, James Worthy, Kareem Abdul-Jabbar, Kobe Bryant, and Chick Hearn displayed alongside Minneapolis Hall of Famers at Crypto.com Arena. Credit: Kirby Lee-Imagn Images
The Lakers undoubtedly stand as one of the most celebrated and historic franchises in professional sports. From their iconic gold jerseys and championship banners to their close ties with Hollywood and the Crypto.com Arena, taking control of this franchise is vastly different from acquiring any ordinary team. The Lakers possess a cultural significance that transcends the sport itself.
The generational gap between Iger and Kushner means the team holds distinct historical meanings for both men. Born in 1951, Iger witnessed the eras of Jerry West and Wilt Chamberlain before observing the legendary ‘Showtime’ squad led by Magic Johnson and Kareem Abdul-Jabbar in the 1980s. Conversely, Kushner, born in 1985, came of age during the dominant run of Shaquille O’Neal and Kobe Bryant, who secured a three-peat of championships between 2000 and 2002.
Acquiring this franchise also satisfies a long-held ambition for both investors. Rumors suggest that Kushner and Iger had been looking into starting an NBA expansion team before the Lakers suddenly entered the picture. Rather than going through the tedious process of constructing a brand-new franchise from scratch, they were presented with a rare opportunity to purchase one of the NBA’s most prized organizations.
How Is the Acquisition Being Funded?
At this point, the discrepancy between their combined $5.9 billion net worth and the $12.5 billion valuation begins to look manageable.
While Kushner and Iger serve as the public faces of the acquisition group, they are not expected to finance the entire $12.5 billion out of pocket. Deals of this magnitude typically involve a mix of private equity, external backers, specialized investment funds, and debt options.
Furthermore, Kushner holds a powerful asset that eclipses his personal bank account: direct access to massive institutional reserves and investor networks.
Sources indicate that the bid for the Lakers is structured around Thrive Eternal, an investment vehicle geared for the long haul that is tied directly to Kushner and Thrive Capital. With this group handling the necessary financial vetting, it is clear that this endeavor is far more complex than just merging the personal funds of two wealthy individuals.
Concluding Thoughts on the Lakers Acquisition
This specific bid serves as an excellent case study for anyone curious about how entrepreneurs can acquire sports franchises or corporations valued well beyond their personal net worth.
Even though Josh Kushner and Bob Iger are the prominent figures leading the charge, they represent only the visible portion of a massive financial apparatus. While their personal capital grants them a seat at the table, it is the integration of venture funds, external syndicates, and structured financing that makes such enormous acquisitions possible.
Kushner offers a gateway to massive pools of institutional wealth, while Iger provides a track record of directing some of the most prominent consumer brands globally. By uniting their strengths, they are positioned to seize control of what is arguably the premier brand in professional basketball.
Thus, their $5.9 billion did not simply transform into $12.5 billion overnight.
Instead, the individuals with a combined $5.9 billion fortune possessed the leverage and connections to secure the remaining funds.
This article originally appeared as Kushner Is $7.3 Billion Short of Buying the Lakers on Stadium Rant.
