August 23, 41-year-old Josh Kushner (the brother of Jared Kushner, Trump’s son-in-law) has an estimated net worth of $16.7 billion, more than doubling from $5.2 billion a year ago. The surge is mainly driven by the expansion of his venture capital firm, Thrive Capital, whose assets jumped from $23 billion at the end of 2024 to $65 billion. Historically, Thrive Capital has invested in star companies including Instagram, Spotify, OpenAI, SpaceX, Databricks, and Anduril. After SpaceX went public, Thrive’s stake was reportedly worth $10 billion. The firm also owns 7% of the AI programming company Cursor, which was acquired by Nvidia at a valuation of $12.6 billion—making that stake worth $4.2 billion. The company’s latest flagship fund, Thrive X, completed fundraising in March with a size of more than $10 billion. In a letter to investors, Kushner revealed that Thrive funds have delivered an average annual return of 33%. Over the same period, the S&P 500 delivered an annualized return of about 14%, while the Nasdaq was about 17%. In the past 12 months alone, Thrive has generated more than $1 billion in liquidity, and it expects that over the next few quarters there could be additional liquidity running into the billions of dollars, with a significant portion coming from the potential IPO of OpenAI next year, which could be valued at over $1 trillion.