Jared Kushner’s brother, Joshua Kushner, and former Disney CEO Bob Iger have completed the purchase of the Los Angeles Lakers for a record $12.5 billion, according to ESPN. The transaction marks another milestone in the growing trend of Jewish business leaders acquiring major sports franchises. The deal was announced on Wednesday, following a sale just over a year ago when the Lakers' controlling interest was bought for $10 billion by Mark Walter, the billionaire CEO of Guggenheim Partners. Mark Walter, who is not Jewish, had previously acquired several other high-profile assets, including the Los Angeles Dodgers, the WNBA’s LA Sparks, the Premier League club Chelsea, the Professional Women’s Hockey League, and Cadillac’s Formula 1 team. The Lakers sale appears to be part of a broader strategy to divest some of Walter’s holdings amid financial pressures linked to a Department of Justice investigation into potential loan defaults. Joshua Kushner, 41, is the younger brother of Jared Kushner, the former White House adviser and son-in-law of President Donald Trump. Known for his involvement in Israeli policy, Joshua Kushner is a billionaire venture capitalist with a minority stake in the Miami Heat, which he must sell to finalize the Lakers acquisition. He was also a previous minority owner of the Memphis Grizzlies. In a joint statement, Iger and Kushner expressed their honor in becoming stewards of the Lakers, one of the most iconic sports franchises globally. They emphasized their respect for the longtime owners, Jerry and Jeanie Buss, and pledged to build upon the legacy of the team while competing at the highest level and serving the community of Los Angeles. This purchase follows a series of notable NBA team acquisitions by Jewish entrepreneurs. Earlier this year, Mat Ishbia bought the Phoenix Suns, and Gabe Plotkin and Rick Schnall purchased the Charlotte Hornets from Michael Jordan. Additionally, Mark Cuban sold the Dallas Mavericks to Miriam Adelson, highlighting the increasing influence of Jewish business figures in the sports industry. Joshua Kushner, who is the grandson of Holocaust survivors and grew up in an Orthodox household in Livingston, New Jersey, recently faced scrutiny in the world of professional soccer. His investment fund, Thrive Eternal, attempted to acquire a stake in FIFA’s World Cup tournaments, but the proposal was withdrawn under pressure from stakeholders concerned about private ownership of the sport’s premier competition. The Kushner family has made substantial contributions to Jewish causes both in the U.S. and Israel. Their donations include support for the Friends of the Israel Defense Forces, the Shaare Zedek Medical Center in Jerusalem, West Bank settlement organizations, Chabad, the Ramaz School in Manhattan, and the Kehilath Jeshurun synagogue on the Upper West Side. The Joseph Kushner Hebrew Academy in Livingston is named after his grandfather, who established the family’s real estate empire. Joshua Kushner’s father, Charles, currently serves as the United States Ambassador to France and Monaco. Meanwhile, Bob Iger, 75, concluded his second tenure as CEO of Disney earlier this year. Alongside his wife, Willow Bay, Iger co-owns the professional women’s soccer club Angel City FC. Raised in a Jewish home, Iger has shown public solidarity with the Jewish community, particularly after the October 7, 2023, Hamas attack on Israel. In a message to Disney’s Jewish employees, he expressed deep sorrow over the violence and condemned the attacks, emphasizing the company’s stance against terrorism.
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