How Josh Kushner Tripled His Net Worth to $16.7 Billion with SpaceX
Josh Kushner, set to turn out to be the incoming proprietor of the Los Angeles Lakers, has ridden the AI wave to an eleven-digit fortune as his enterprise agency almost tripled its belongings this yr.
Forbes now estimates his web value at $16.7 billion, up from $5.2 billion simply twelve months in the past.
What Actually Drove the Fortune Surge
Kushner constructed a lot of that wealth by way of Thrive Capital, the enterprise agency he based and nonetheless leads right now. He grew the firm’s assets to more than $65 billion, almost triple the $23 billion he managed in December 2024. Much of that surge traces to two particular wins this yr.
He first invested in SpaceX at a $38 billion valuation, a guess that grew right into a reported $10 billion stake when the rocket maker went public in June.
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Days later, SpaceX introduced a $60 billion deal to acquire AI coding startup Cursor, doubling the worth of his 7% stake in that firm to $4.2 billion.
His place in OpenAI stays extra oblique for now. Kushner holds a stake within the AI lab, final valued at $852 billion in March and expected to go public within the year, however that place has not but transformed into the form of realized windfall SpaceX delivered.
Both bets drove his total progress, although SpaceX produced the concrete, quantifiable good points up to now.
The Lakers Deal Still Awaits NBA Approval
Kushner and former Disney CEO Bob Iger agreed on August 12 to buy the Los Angeles Lakers from present proprietor Mark Walter for a file $12.5 billion, simply months after Walter himself paid $10 billion for the group.
The deal has not closed. It still requires approval from the NBA’s Board of Governors, which is scheduled to meet in September, and business shops have described the transaction as nonetheless a great distance from completion.
Jeanie Buss’s siblings have since agreed to promote their remaining stake within the group as nicely, increasing Kushner and Iger’s mixed possession to roughly 83%.
Kushner’s personal response to the Lakers information was notably muted. On the day the sale broke, he posted on X celebrating a unique deal totally, a $2 billion increase for Thrive Holdings at a $12.5 billion valuation, with out mentioning basketball in any respect.
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Beyond SpaceX and OpenAI, his portfolio consists of stakes in Databricks, Stripe and Anduril, alongside older wins like Instagram and Spotify. Kushner informed traders his funds have averaged 33% annual returns after charges, roughly double the S&P 500’s tempo over the identical interval.
Whether the Lakers deal in the end closes, Kushner’s wealth now stands at almost 17x that of his brother Jared, President Trump’s son-in-law, in accordance to Forbes estimates.
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