Jared Kushner’s little brother will pick up the check the next time he has dinner with his more famous sibling.
Josh Kushner, founder of Thrive Capital, has seen his personal fortune soar to an estimated $3.7 billion, according to Bloomberg calculations, after his firm received a large investment from several billionaires.
Disney CEO Bob Iger and KKR co-founder Henry Kravis were among a group that paid $175 million to acquire a minority stake in Thrive Capital, the company said Tuesday.
The cash injection allowed Kushner, 37 – who is married to supermodel and TV personality Karlie Kloss – to eclipse the fortunes of his former White House adviser and even former President Donald Trump.
Jared, 42, and his wife Ivanka Trump have disclosed personal assets worth between $206 million and $803 million, according to the outlet. Trump is worth an estimated $2.6 billion.
Josh, the son of disgraced real estate developer Charles Kushner, founded Thrive Capital in 2009 after working in private equity at Goldman Sachs.
Thrive specializes in technology-related investments and has been an early adopter of big companies such as Spotify, Instagram, Twitch and Stripe.
Josh Kushner is married to supermodel Karlie Kloss. Getty Images
Donald Trump is worth an estimated $2.6 billion.JIM LO SCALZO/EPA
More recently, Thrive has poured money into Kim Kardashian’s booming shapewear brand Skims and the NFT-focused Bored Ape Yacht Club. Other bets on companies like Robinhood and Instacart have proved less successful during a slump in the broader market.
With the latest investment, Thrive is now valued at a whopping $5.3 billion, a company spokesman told Bloomberg. Other attendees included Indian oil tycoon Mukesh Ambani, French telecoms executive Xavier Niel and Brazilian food mogul Jorge Paulo Lemann.
“These extraordinary operators have built storied institutions, achieved geographic dominance, taken popular brands to even greater heights, and developed entirely new industries,” Thrive said in a blog post about its latest minority investors.
According to Bloomberg, Josh Kushner is now worth an estimated $3.7 billion. Bloomberg via Getty Images
“As our companies expand into new geographies and verticals and mature into the generational businesses we believe them to be, this group will serve as a powerful extension of the Thrive network,” the post added.
Iger has close ties to Thrive. Last September, he assumed a role as a venture partner at the firm and was to serve as a day-to-day advisor. Instead, he left the role in November to return as Disney’s top executive.
The deal gives Thrive access to the billionaires’ sprawling networks.
Ambani is among the richest people in the world with a personal fortune of $84.7 billion, while Lemann is worth $21.1 billion, Kravis is worth $9.5 billion and Niel is worth $8.1 billion , according to the Bloomberg Billionaires Index.
Bob Iger is the CEO of Disney. GC images
KKR’s Henry Kravis was part of a group of billionaires who bought a minority stake in Thrive. Getty Images
“A lot of these people have been involved in my life for a long time,” Kushner said in an interview with the Wall Street Journal. “Now they actually have a stake in the company’s success.”
Jared Kushner founded his own $3 billion investment firm, Affinity Partners, in 2021 after leaving the White House.