One of the VC world’s biggest stars is doubling down on sports in a big way, and there’s a compelling tax reason behind the strategy

First publishedAug 19, 10:25 UTC

Last updatedAug 19, 13:49 UTC · 16m ago

110:25–10:31 UTC1 outletFortune

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Fortune6One of the VC world’s biggest stars is doubling down on sports in a big way, and there’s a compelling tax reason behind the strategyAug 19, 10:25 UTCOpen ↗

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Thrive Capital founder Joshua Kushner is no stranger to investing in pro sports, but his $12.5 billion deal with former Disney CEO Bob Iger to buy the Los Angeles Lakers vaults him into an elite club with elite benefits. Kushner previously owned a minority stake in the Memphis Grizzlies, then sold it and bought a small stake in the Miami Heat, which he must sell to buy the Lakers. And earlier this year, he bought a minority a stake in the San Francisco Giants. If the Lakers deal is approved, however, Kushner and Iger will own about 83% of the iconic NBA franchise after the Buss family agreed to sell its share.

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  One of the VC world’s biggest stars is doubling down on sports in a big way, and there’s a compelling tax reason behind the strategy

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  FortuneAug 19, 10:25

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