Joshua “Josh” Kushner, new owner of the Los Angeles Lakers, is linked by blood to Jared Kushner, son-in-law to one of the world’s most powerful people.
Josh Kushner is buying the Los Angeles Lakers with former Disney chief Bob Iger in a $12.5 billion deal that could be worth a total of $17.7 billion.
Josh, 41, is the younger brother of billionaire Jared Kushner, who is married to Ivanka Trump, daughter of President Donald Trump.
Josh is a billionaire businessman and venture capitalist, who founded Thrive Capital and Oscar Health. He is married to supermodel Karlie Kloss. They share three children.
“As lifelong NBA fans, we are deeply honored for the opportunity to become stewards of the Los Angeles Lakers, one of the most iconic sports franchises in the world. We have immense respect for the leadership and vision of Jerry and Jeanie Buss,” Kushner and Iger said in a statement on Wednesday. “Our long-term commitment is to build on that foundation, compete at the highest level, and serve this extraordinary team, its fans, and the city of Los Angeles.
There are rumors and speculation that former Lakers owner Mark Walter, who bought the Lakers last October, was “pressured” to sell to young Kushner.
There are claims that Trump’s Justice Department launched a federal probe into Walter’s insurance companies, Delaware Life Insurance Company and Clear Spring Life and Annuity Company.
The DOJ reportedly investigated whether the insurance companies disclosed billions of dollars in credit investments.
Reporters question the timing of the DOJ investigation into Walter’s insurance companies and the sale of the Lakers to the younger brother of Trump’s son-in-law.
However, the White House shut down the rumors in a statement on Wednesday – the same day the sale of the Lakers was announced.
“This has nothing to do with President Trump or his administration,” the statement to Front Office Sports read.
The sale of the Lakers requires final approval from the NBA’s board of governors. The next board meeting is scheduled for September in New York.