Miami Beach billionaire set to buy Lakers for $12.5 billion. Here’s what to know

Josh Kushner, a venture capitalist billionaire with a Miami Beach mansion and a minority stake in the Miami Heat, is joining former Disney CEO Bob Iger to buy the Los Angeles Lakers for $12.5 billion.

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If approved, the deal would set a record for the highest price ever paid for a professional sports team.

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

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Here are key takeaways:

• Kushner, 41, founded venture capital firm Thrive Capital, which has invested in Instagram, Spotify, Stripe and OpenAI. Forbes estimates his net worth at $5.2 billion.
• He is the brother of Jared Kushner, who is married to Ivanka Trump. The couple also live in Indian Creek Village, known as the Billionaire Bunker. The Kushners’ father, Charles, was named by President Donald Trump as U.S. ambassador to France and Monaco.
• Now, Josh Kushner will be required to sell his 5% share of the Miami Heat to purchase the Lakers, multiple media outlets have reported, as required by NBA ownership rules. It’s unknown how much money that percentage represents.

• Kushner and his wife, supermodel Karlie Kloss, paid $23.5 million in 2020 for an eight-bedroom waterfront mansion on Miami Beach’s North Bay Road, previously owned by hotelier Keith Menin.

This report was produced with the assistance of a proprietary tool powered by artificial intelligence and using our own originally reported, written and published content. It was reviewed and edited by our journalists.

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