Josh Kushner Net Worth Hits $16.7 Billion on Thrive Capital Gains

Venture capitalist Josh Kushner’s net worth has tripled to an estimated $16.7 billion over the past year, driven by the rapid appreciation of assets held by his firm, Thrive Capital [1]. The surge in wealth, up from $5.2 billion a year ago, positions Kushner as a central powerbroker in the artificial intelligence and aerospace sectors as he moves to acquire a stake in the Los Angeles Lakers [1].

The engine behind the wealth surge

Thrive Capital’s assets under management have reached $65 billion, nearly tripling the $23 billion the firm held in December 2024 [1]. Kushner attributes more than half of this growth to investment gains, noting that Thrive’s funds have returned an average of 33% annually after fees, significantly outpacing the S&P 500’s 14% and the Nasdaq’s 17% gains over a similar period [1].

The firm’s portfolio includes high-profile private companies such as SpaceX, which saw its valuation climb following a June public offering, and OpenAI, which was valued at $852 billion in March [1]. Thrive also holds a 7% stake in the AI coding startup Cursor, valued at $4.2 billion following a $60 billion acquisition deal by SpaceX [1]. Beyond these private holdings, Thrive has expanded into public markets, recently disclosing a $215 million stake in Amazon and a $130 million position in Shopify [1].

Expansion and deal complications

Kushner’s deal-making has extended beyond venture capital into professional sports and services. On August 12, he and former Disney CEO Bob Iger reached a deal to acquire the Los Angeles Lakers at a $12.5 billion valuation [1]. However, the acquisition faces potential hurdles; a lawyer for the team’s controlling governor, Jeanie Buss, recently denied that she had reached an agreement with her siblings to sell their collective 17.8% stake in the franchise [1].

Simultaneously, Kushner is scaling his new venture, Thrive Holdings, which he formed in 2025 to acquire and modernize services firms using AI [1]. The company recently raised $2 billion from investors, including SoftBank, at a $12.5 billion valuation [1]. While Kushner continues to generate liquidity—reporting over $1 billion in the last 12 months—he remains required to divest his existing $80 million stake in the Miami Heat before the Lakers deal can proceed [1].

What to watch

• Lakers Acquisition Status: Monitor whether Jeanie Buss and her siblings resolve the reported dispute over their 17.8% stake, which remains a primary obstacle to the $12.5 billion deal [1].
• OpenAI IPO: Watch for the potential public offering of OpenAI, which is expected within the next year and could value the firm at over $1 trillion, further impacting Thrive’s portfolio [1].
• Thrive Capital Liquidity: Observe if the firm follows through on the potential sale of a small stake in the firm to existing and new institutional partners, as floated in Kushner’s recent investor letter [1].

The rapid expansion of Thrive Capital underscores a broader trend of venture firms capturing outsized value from the current AI-driven innovation cycle. Whether Kushner can successfully transition into professional sports ownership remains the immediate test of his current momentum.