Miami Beach billionaire joins in $12 billion purchase of Los Angeles Lakers

A billionaire with a home on Miami Beach’s North Bay Road is about to own a piece of one of the most valuable sports franchises in America.

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Venture capitalist billionaire Josh Kushner, whose brother Jared is married to Ivanka Trump and is also part owner of the Miami Heat, is helping buy one of America’s most storied and valuable sports franchises: the Los Angeles Lakers.

Kushner is joining former Disney CEO Bob Iger in the purchase of the Lakers for $12.5 billion, according to the Wall Street Journal. The deal, if approved, would set a record for the highest price ever paid for a professional sports team.

For Miami, the deal has an additional connection: Kushner is a 5% owner of the Miami Heat.

The 41-year-old founder of venture capital firm Thrive Capital quietly purchased a minority stake in the Heat in late 2024, the team confirmed to Front Office Sports. The size and price of that investment were not disclosed. NBA rules require Kushner to sell his interest in the team.

Now, Kushner is poised to move from minority investor in Miami’s NBA franchise to part-owner of its most glamorous rival.

The Lakers purchase also adds another extraordinary asset to a portfolio that has made Kushner one of the most prominent technology investors of his generation. Forbes estimates his net worth at $5.2 billion, largely tied to Thrive Capital, which has invested in companies including Instagram, Spotify, Stripe and OpenAI. Kushner’s dad, Charles, also is the U.S. ambassador to France and Monaco.

And while Los Angeles is the Lakers’ home, Miami is already part of Josh Kushner’s personal geography.

Joshua Kushner and his wife, super-model Karlie Kloss, a Taylor Swift BFF, paid $23.5 million in 2020 for an eight-bedroom mansion on North Bay Road in Miami Beach. The waterfront property was formerly owned by Miami hotelier Keith Menin and includes a dock and pool.

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The couple, who also own a home in Malibu, has continued to maintain ties to South Florida, where his brother and sister-in-law also live.

The Miami Herald reported last year that the family lives part-time in Miami Beach, where their North Bay Road mega-mansion puts them among some of the city’s wealthiest residents.

The couple last made news when they were invited to Taylor Swift and Travis Kelce’s wedding at Madison Square Garden last month.

Their Miami address also puts Kushner within the orbit of one of South Florida’s most concentrated collections of wealth. North Bay Road, which runs along the north end of Miami Beach, has long attracted billionaires, celebrities and business executives including David and Victoria Beckham, as well as other technology and finance figures.

Kushner’s sports holdings have also been expanding beyond basketball.

The Lakers became available only about a year after billionaire Mark Walter bought a controlling interest in the team from the Buss family for a transaction that valued the franchise at $10 billion.

The NBA approved that sale in October 2025, ending the Buss family’s 46-year run as majority owners.

The Lakers recently lost star player LeBron James to Philadelphia, following speculation he would return to the Miami Heat.

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This story was originally published August 12, 2026 at 12:02 PM.