**[Thrive Capital Founder Josh Kushner’s Wealth Doubles in One Year to $16.7 Billion, Assets Under Management Near $65 Billion]** BlockBeats News, August 23 — Josh Kushner, 41 years old (brother of Jared Kushner, son-in-law of Donald Trump), has an estimated net worth of $16.7 billion, more than tripling from $5.2 billion a year ago. This surge is primarily driven by the growth of his venture capital firm Thrive Capital, whose assets under management skyrocketed from $23 billion at the end of 2024 to $65 billion. Thrive Capital has historically invested in high-profile companies such as Instagram, Spotify, OpenAI, SpaceX, Databricks, and Anduril. Following SpaceX’s IPO, Thrive’s stake is reportedly valued at $10 billion. Additionally, Thrive holds a 7% stake in AI programming company Cursor, which was acquired by Nvidia at a valuation of $12.6 billion, making Thrive’s share worth $4.2 billion. The firm’s latest flagship fund, Thrive X, completed fundraising in March with a scale exceeding $10 billion. In a letter to investors, Kushner revealed that Thrive funds have an average annual return rate of 33%, compared to the S&P 500’s annualized return of approximately 14% and Nasdaq’s 17% over the same period. Over the past 12 months, Thrive has generated over $1 billion in liquidity and expects several billion dollars of additional liquidity in the coming quarters, a significant portion of which may come from OpenAI’s IPO next year, which could value the company at over $1 trillion. Beyond business ventures, Kushner partnered with former Disney CEO Bob Iger to acquire the NBA’s Los Angeles Lakers for $12.5 billion, setting a record for the sale of a sports team. However, the deal faces uncertainty due to disagreements between Jeanie Buss and her siblings over the sale of a 17.8% stake. Kushner also holds approximately $80 million in shares of the Miami Heat, which must be disposed of before the Lakers transaction is finalized. Forbes estimates Kushner’s wealth to be about 17 times that of his brother Jared and roughly three times that of former President Trump. The Lakers acquisition could also bring significant tax advantages, as up to 90% of the transaction price (including media rights, player contracts, and acquisition premiums) could be amortized as intangible assets over 15 years, potentially saving approximately $750 million annually in taxes. Thrive Capital has disclosed holdings of $215 million in Amazon shares and $130 million in Shopify shares. Its oldest investment, health insurance startup Oscar Health, is now valued at $200 million. Before founding Thrive, Kushner worked for a year in Goldman Sachs’ private equity division and launched Thrive in 2010 at the age of 25 with a $5 million seed fund.