BlockBeats message, August 23, Josh Kushner, 41 years old (the brother of Jared Kushner, Trump’s son-in-law), has an estimated latest net worth of $16.7 billion, more than doubling from $5.2 billion a year ago. The increase is mainly driven by the growth in assets under management of his venture capital firm, Thrive Capital, which surged from $23 billion at the end of 2024 to $65 billion. Thrive Capital has historically invested in star companies such as Instagram, Spotify, OpenAI, SpaceX, Databricks, and Anduril. After SpaceX’s IPO, Thrive’s reported stake was worth $10 billion. The firm also holds a 7% stake in the AI programming company Cursor, which was acquired by NVIDIA at a valuation of $12.6 billion—valued at $4.2 billion. The company’s latest flagship fund, Thrive X, completed fundraising in March with a size of over $10 billion. In a letter to investors, Kushner revealed that Thrive funds have achieved an average annual return of 33%. In the same period, the S&P 500 annualized about 14% and the Nasdaq about 17%. Over the past 12 months, the funds have generated more than $1 billion in liquidity, and are expected to produce additional liquidity amounting to several billion dollars in the coming quarters, with a substantial portion potentially coming from an IPO next year for OpenAI, which could be valued at over $1 trillion.

Beyond business moves, Kushner partnered with former Disney CEO Bob Iger to acquire the NBA’s Los Angeles Lakers for $12.5 billion, setting a record for the sale of a sports team, though the deal’s uncertainty stems from disagreements between Jeanie Buss and her siblings over the sale of 17.8% of the shares. Kushner also holds about $80 million worth of shares in the Miami Heat and will need to dispose of them before the Lakers transaction closes. Forbes estimates that his wealth is already about 17 times that of his brother Jared and about 3 times that of President Trump. Buying the Lakers could also bring substantial tax advantages: by amortizing up to 90% of the transaction price (including media rights, player contracts, and acquisition premiums) as intangible assets over 15 years, he could save roughly $750 million in taxes per year.

Thrive Capital has disclosed that it holds $215 million worth of Amazon shares and $130 million worth of Shopify shares, while the value of its stake in its long-standing portfolio healthcare startup Oscar Health has reached $200 million. Before founding Thrive, Kushner worked for one year in Goldman Sachs’ private equity division. In 2010, at the age of 25, he started with a $5 million seed fund.