Joshua Kushner | |
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Born | Livingston, New Jersey, U.S. | June 12, 1985
Education | Harvard University (BA, MBA) |
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Spouse | |
Children | 2 |
Parent | Charles Kushner (father) |
Family | Kushner |
Joshua Kushner (born June 12, 1985) is an American businessman and investor. He is the founder and managing partner of the venture capital firm Thrive Capital, co-founder and vice-chairman of Oscar Health, and the youngest son of the real estate developer Charles Kushner. He is the younger brother of Jared Kushner, son-in-law and former senior advisor to the president of the United States Donald Trump. He is also a minority owner of the Memphis Grizzlies.
Joshua Kushner was born on June 12, 1985, in Livingston, New Jersey, where he grew up in a Jewish family to parents Charles and Seryl Kushner. [1] [2] Kushner graduated from Harvard College in 2008, and from Harvard Business School in 2011. [3] [4] [5]
During his sophomore year, Kushner was founding executive editor of Scene, a new pop culture student-publication. [6] The publication was badly received by critics upon release. [7]
In the spring of his junior year he worked with two graduate students to pool $10,000 in order to found social network Vostu, [8] which aimed to "fill a void left by online communities in which English is the lingua franca", like Facebook. According to Kushner, Latin America was a promising market for a Facebook-alternative and new social networking site because "[it was] a place where Internet use is increasing every year, and technology is booming at a rapid pace". [9] Vostu laid off the majority of its employees in 2013 and significantly scaled back its operations after a copyright lawsuit from a competitor accused them of copying games. [10] [11]
The year after graduation he co-founded a start-up called Unithrive. Unithrive was inspired by the peer-to-peer loan model of Kiva, but aimed to "ease the crisis in paying for college" by matching "alumni lenders to cash-strapped students ... who [could] post photographs and biographical information and request up to $2,000", interest-free for repayment within five years of graduation. [12] After graduating from Harvard, he started his career in the private equity arm at Goldman Sachs, working for a year on distressed debt. [13]
He founded Thrive Capital in 2010, a venture capital firm that focuses on media and internet investments. [14] [15] Since its founding, Thrive has raised over $7.3 billion from institutional investors, including Princeton University. [16] Thrive's capital funds include: Thrive II, which raised $40 million in 2011; Thrive III, which raised $150 million in 2012; Thrive IV, which raised $400 million in September 2014; [16] [17] Thrive V, raising $700 million in 2016; Thrive VI, raising $1 billion in 2018; Thrive VII, raising $2 billion in 2021; Thrive VIII, raising $3 billion in 2022; and Thrive IX, raising $5 billion in 2024. [18] [19] [20]
As an investor in Instagram, Kushner was the second largest investor in Instagram's Series B fundraising round. Valued at $500 million, Thrive soon doubled its money after Instagram was sold to Facebook. [8]
For his work with Thrive, Kushner was named to Forbes' 30 Under 30, [21] Inc. magazine's 35 Under 35, [22] Crain's 40 Under 40, [23] and Vanity Fair 's Next Establishment. [24]
In 2021, it was reported by Bloomberg that Goldman Sachs had invested in Kushner's Thrive Capital at a $3.6 billion valuation. [25] Kushner sold a 3.3% stake in Thrive to a group of investors, including Disney's Bob Iger and Kohlberg Kravis Roberts' Henry Kravis, valuing Thrive at $5.3 billion. [26]
As of September 2024 [update] , Forbes estimates his net worth to be $3.8 billion, primarily from his ownership in Thrive. [27] Fortune magazine listed Kushner in its inaugural list of the 100 Most Powerful People in Business in 2024, citing Thrive's early investment in OpenAI. [28] [29]
Kushner is a co-founder and vice-chairman of Oscar Health, a health insurance start-up. [30] Founded in 2012, Oscar was valued at $2.7 billion in 2016. [31] Oscar went public in 2021, with Kushner's Thrive Capital owning a stake worth $1.21 billion. [32] [33] Oscar reported an $87 million loss in its first quarter as a publicly traded company. [34]
In 2020, it was revealed by The Atlantic that Jared Kushner had contracted Oscar Health to develop a coronavirus testing website that was later scrapped, even though Trump had said publicly that Google was developing the website. [35]
In 2015, Kushner founded a new company called Cadre with his brother Jared and their friend Ryan Williams, with Williams as Cadre's CEO. Cadre is a technology platform designed to help certain types of clients, such as family offices and endowments, invest in real estate. [36] [37]
Kushner and his brother, Jared, each own 50% of JK2 (also known as Westminster Management), a real estate management company, [38] but Joshua is not involved with the business. [39] [40]
In April 2021, a Judge ruled that JK2 was found to have committed "widespread and numerous" violations of Maryland's consumer protection laws at Baltimore-area properties by collecting debts without the required licenses, charging tenants improper fees, and misrepresenting the condition of rental units. [41] [38] [42] During the COVID-19 pandemic, JK2 filed a significant number of lawsuits against tenants for debt collection and eviction, despite an eviction moratorium being in place. [43]
Kushner's JK2 was also featured in an episode of Netflix's Dirty Money series titled "Slumlord Millionaire." [44] The episode was based on an expose from ProPublica accusing the company of abusing tenants rights, leaving homes in disrepair, humiliating late-paying renters and suing tenants when they try and move out. [45]
Kushner became a minority owner of the Memphis Grizzlies after acquiring a 2.5% stake in 2019. [46] [47] In 2024, Kushner and his wife's media company, Bedford Media, announced plans to revive Life magazine in an agreement with Dotdash Meredith, with the first print issue scheduled for early 2025. [48] [49] He also joined the board of directors of A24 Films that year. [50]
Kushner married model Karlie Kloss in 2018. [51] They have two sons, born in March 2021 and July 2023 respectively. [52] [53] [54] In March 2025, Kloss revealed that they were expecting their third child. [55] [56]
In December 2020, the couple purchased a home in Miami, Florida, for US$23.5 million. [57] They also bought a 7,200-square-foot (670 m2) penthouse in the Puck Building in Manhattan for $35 million in 2021, and paid $29.5 million for the Wave House in Malibu, California, in August 2024. [58]
Kushner was included in a 2024 Washington Post article about a WhatsApp group chat from October 2023 through early May that year where some United States' business leaders discussed "chang[ing] the narrative" in favor of Israel by conveying “the atrocities committed by Hamas…to all Americans,” following Hamas's October 7th attack on Israel. [59] However, a spokesperson of Kushner stated that, “Josh has not participated in [the group chat].” [60]
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