The Los Angeles Lakers will embark on a new era of ownership under Bob Iger and Josh Kushner, marking a shift for one of the league’s most iconic franchises.

Josh Kushner’s last name might sound familiar due to his familial connections. He is the younger brother of Jared Kushner, President Donald Trump’s son-in-law.

Although Josh is the son of prominent real estate developer Charles Kushner, he chose to forge his own path outside the family’s real estate empire. Instead, he has focused on innovative ventures in technology and healthcare.

Kushner is the founder and managing partner of Thrive Capital, a technology-focused venture capital firm he launched in 2009. Thrive Capital has been an influential investment firm, backing high-profile startups such as Instagram, Spotify and Slack, among others.

In addition to his achievements in venture capital, Kushner co-founded and currently serves as vice chairman of Oscar Health, a technology-driven health insurance company. The company primarily offers individual and family health plans through the Affordable Care Act marketplace.

Josh’s brother, Jared Kushner, is known for his roles in both politics and business. He is part of Trump’s administration as a senior advisor and is married to Trump’s daughter, Ivanka.

How much were the Lakers sold for?

The Los Angeles Lakers are being sold for a record $12.5 billion less than two years after Los Angeles Dodgers co-owner and TWG Global CEO Mark Walter bought the team from the Buss Family. The deal was first reported by ESPN.

The sale to businessman Joshua Kushner and former Disney CEO Robert Iger would mark the highest amount ever paid for a North American sports franchise, surpassing the $10 billion that Walter paid for the Lakers. — Scooby Axson