Josh Kushner, also spelled Joshua Kushner, is an American business magnate, heir apparent, and investor. In addition to being a co-founder of Oscar Health, Inc. and managing partner at Thrive Capital, he is also a venture capitalist.
Josh Kushner’s Net Worth
Though he is better known as Jared Kushner’s younger brother and as the husband of supermodel Karlie Kloss, the youngest Kushner son may be the one to keep an eye on now that a business deal has significantly increased his wealth.
The 37-year-old, who is also the son of disgraced real estate developer Charles Kushner, founded investment firm Thrive Capital, which just received a $175 million investment from several notable billionaires, including Disney CEO Robert Iger, KKR co-founder Henry Kravis, Mukesh Ambani, Jorge Paulo Lemann, and Xavier Niel, as reported by Bloomberg.
According to Bloomberg Billionaires Index, Josh now has a net worth of $3.7 billion, and the deal set the firm’s valuation at $5.3 billion, making it five times larger than his older brother Jared’s competing firm, Affinity Partners.
After a string of successes, including early shares in Instagram and fintech company Stripe, Thrive decided to make a multimillion-dollar investment. Along with the Bored Ape Yacht Club and Kim Kardashian’s Skims, the company has also backed other start-ups.
Additionally, the billionaire investors in Thrive’s investment deal received a joint 3.3% ownership in the company, allowing Thrive to leverage the investors’ connections and resources to fund research and development and new business endeavors.
Josh explained the investment to The Wall Street Journal by saying, “A lot of these guys have been involved in my life for quite a length of time.” To paraphrase, “Now they have a real interest in the company’s success.”
Is Josh Kushner Richer Than Donald Trump?
Bloomberg estimates that Thrive Capital founder Josh Kushner is now worth $3.7 billion after the company received a massive investment from a group of billionaires.
On Tuesday, Thrive Capital disclosed that Disney CEO Bob Iger and KKR co-founder Henry Kravis were among a group that spent $175 million to acquire a minority share in the company.
Kushner, who is 37 and married to a supermodel and TV personality Karlie Kloss, used the windfall to become wealthier than his ex-White House adviser brother and even former President Donald Trump.
The 42-year-old Jared and his wife Ivanka Trump have reportedly disclosed personal assets totaling between $206 million and $803 million. The current value of Trump’s fortune is $2.65 billion.
The Work And Professional Experiences of Josh Kushner
American businessman and entrepreneur Josh. In addition, he co-founded the social network Vostu with two graduate students and $10,000 during the spring of his junior year. In an effort to “fill a hole left by online communities where English is the lingua franca,” the social network sought to emulate the success of platforms like Facebook.
After completing his degree, he started a company named Unithrive with the cousin of the Kiva president, who was also a student at Harvard. The Kiva idea of people helping people with loans was an inspiration for the new company. Its stated goal was to “reduce the burden of college costs” by connecting “alumni lenders with financially disadvantaged students.
After finishing school at Harvard, Josh immediately began working at Goldman Sachs’ Private Equity Group. The Merchant Banking Department was where Josh was employed. Also in 2009, Josh established Thrive Capital.
The firm he runs is a private equity and venture capital outfit that invests primarily in the media and the internet. Ever To date, Thrive has raised $750 million from a wide range of institutional investors including Princeton University.
In addition, Josh is a co-founder of the health insurance startup Oscar Health. Oscar was launched in 2012 and by 2016 had a valuation of $2.7 billion. Kushner, his brother Jared, and their mutual friend Ryan Williams established a startup named Cadre in 2015. In addition, it’s a technological platform made to assist particular customers.
Family offices and endowments were just two of the types of clientele it assisted with real estate investments. Brothers Josh and Jared operate JK2, also known as Westminster Management, a property management firm.