Josh Kushner now ‘richer than Trump’ as billionaires Iger and Kravis take stake in firm: report
Jared Kushner’s younger brother will pick up the check the next time he dines with his more famous sibling.
Josh Kushner, the founder of Thrive Capital, saw his personal fortune climb to an estimated $3.7 billion, according to Bloomberg calculations, after his firm secured a major investment from several billionaires.
Disney CEO Bob Iger and KKR co-founder Henry Kravis were part of a group that paid $175 million to buy a minority stake in Thrive Capital, the company announced Tuesday.
The cash infusion has allowed the 37-year-old Kushner, who is married to supermodel and TV personality Karlie Kloss, to eclipse the net worth of his former White House adviser brother and even former President Donald Trump.
Jared (42) and his wife Ivanka Trump disclosed personal assets worth between $206 million and $803 million, according to the agency. Trump is worth $2.6 billion.
The son of disgraced real estate investor Charles Kushner, Josh founded Thrive Capital in 2009 after a stint in private equity at Goldman Sachs.
Thrive specializes in technology-related investments, making early bets on big companies like Spotify, Instagram, Twitch and Stripe.
More recently, Thrive has invested in Kim Kardashian’s booming shapewear brand Skims and NFT-focused Bored Ape Yacht Club. Other bets on firms such as Robinhood and Instacart have fared less well during the downturn in the broader market.
With the latest investment, Thrive is now valued at a whopping $5.3 billion, a company spokesperson told Bloomberg. Other attendees included Indian oil magnate Mukesh Ambani, French telecom executive Xavier Niel and Brazilian food mogul Jorge Paulo Lehman.
“These extraordinary operators have built highly ranked institutions, achieved geographic advantage, taken beloved brands to even greater heights and launched entirely new industries,” Thrive said in a blog post about its latest minority investors.
“As our companies move into new regions and industries, maturing into the generational businesses we believe they are, this group will serve as a powerful extension of the Thrive network,” the post added.
Iger has close ties to Thrive. He assumed the role of partner in the firm last September and was to serve as an adviser on its day-to-day operations. Instead, he left the role in November to return as Disney’s top boss.
The deal gives Thrive access to the billionaires’ expansive networks.
Ambani ranks among the world’s richest people with a personal fortune of $84.7 billion, while Lehman is worth $21.1 billion, Kravis is worth $9.5 billion and Niel is worth $8.1 billion, according to the Bloomberg Billionaires Index.
“Many of these people have been involved in my life for a long time,” Kushner said in an interview with the Wall Street Journal. “Now they actually have a big stake in the company’s success.”
Jared Kushner launched his own $3 billion investment firm, Affinity Partners, in 2021 after leaving the White House.
