Jared Kushner’s little brother will pick up the check the next time he dines with his more famous sibling.
Josh Kushner, founder of Thrive Capital, has seen his personal fortune rise to an estimated $3.7 billion, according to Bloomberg’s calculations, after his company secured a major investment from several billionaires.
Disney CEO Bob Iger and KKR co-founder Henry Kravis were part of a group that paid $175 million to acquire a minority stake in Thrive Capital, the company announced Tuesday.
The cash infusion allowed Kushner, 37, who is married to supermodel and TV personality Karlie Kloss, to eclipse the net worth of his former White House adviser brother 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.
The son of disgraced real estate developer Charles Kushner, Josh founded Thrive Capital in 2009 after a stint in private equity at Goldman Sachs.
Thrive has specialized in technology-related investments and made early bets on major companies such as Spotify, Instagram, Twitch and Stripe.
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 spokesperson told Bloomberg. Other participants included Indian oil magnate Mukesh Ambani, French telecom executive Xavier Niel and Brazilian food magnate Jorge Paulo Lemann.
“These extraordinary operators have built established institutions, achieved geographic superiority, taken beloved brands to even greater heights and pioneered entirely new industries,” Thrive said in a blog post about its latest minority investors.
“As our companies move into new geographies and industries and grow into the generational companies we believe they are, this group will serve as a powerful extension of the Thrive network,” the post read.
Iger has close ties to Thrive. Last September, he took on a role as a venture partner at the company and would serve as an advisor on day-to-day operations. Instead, he left the role in November to return as Disney’s top boss.
The deal gives Thrive access to the billionaires’ extensive 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.
“Many of these people have been involved in my life for quite some time,” Kushner said in an interview with the Wall Street Journal. “Now they actually have a vested interest in the company’s success.”
Jared Kushner founded his own $3 billion investment company, Affinity Partners, in 2021 after leaving the White House.