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Joshua Kushner

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Joshua Kushner
Born(1985-06-12)June 12, 1985(age 39)
Livingston, New Jersey,U.S.
Alma materHarvard University
Occupation(s)Owner ofThrive Capital
Co-founder ofOscar Health
Minority Owner ofMemphis Grizzlies
Spouse
​
(m.2018)​
Children2
Parent(s)Seryl Kushner (mother)
Charles Kushner(father)
RelativesSeeKushner family

Joshua Kushner(born June 12, 1985) is an American businessman, heir, and investor.[1]He is the founder and managing partner of the venture capital firmThrive Capital,co-founder ofOscar Health,and the son ofreal estate developerCharles Kushner.[2]He is the brother ofJared Kushner,son-in-law and former senior advisor to former U.S. PresidentDonald Trump.He is also a minority owner of theMemphis Grizzlies.[3][4]

Early life and education[edit]

Joshua Kushner was born on June 12, 1985, inLivingston, New Jerseywhere he grew up in a Jewish family to parentsCharlesand Seryl Kushner.[5]Kushner graduated fromHarvard Collegein 2008, and fromHarvard Business Schoolin 2011.[6][7][8]

Career[edit]

Early career[edit]

During his sophomore year, Kushner was founding executive editor ofScene,a new pop culture student-publication.[9]The publication was badly received by critics upon release.[10]

In the spring of his junior year he worked with two graduate students to pool $10,000 in order to found social network Vostu,[11]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".[12]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.[13][14]

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.[15]After graduating from Harvard, he started his career in the private equity arm atGoldman Sachs,working for a year on distressed debt.[16]

Thrive Capital[edit]

Main article:Thrive Capital

He founded Thrive Capital in 2010, aventure capitalfirm that focuses on media and internet investments.[17][18]Since its founding, Thrive has raised over $7.3 billion from institutional investors, includingPrinceton University.[19]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;[19][20]Thrive V, raising $700 million in 2016; Thrive VI, raising $1 billion in 2018; Thrive VII, raising $2 billion in 2021; and Thrive VIII, raising $3 billion in 2022.[21][22]

As an investor inInstagram,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 toFacebook.[11]

For his work with Thrive, Kushner was named toForbes'30 Under 30,[23]Inc. Magazine's 35 Under 35,[24]Crain's 40 Under 40,[25]and Vanity Fair's Next Establishment.[26]

In 2021 it was reported byBloombergthat Goldman Sachs had invested in Kushner's Thrive Capital at a $3.6 billion valuation.[27]

Oscar[edit]

Kushner is a co-founder ofOscar Health,a health insurance start-up. Founded in 2012, Oscar was valued at $2.7 billion in 2016.[28]Oscar went public in 2021, with Kushner's Thrive Capital owning a stake worth $1.21 billion.[29][30]Oscar reported an $87 million loss in its first quarter as a publicly traded company.[31]

In 2020, it was revealed byThe Atlanticthat 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.[32]

Cadre[edit]

In 2015, Kushner founded a new company calledCadrewith his brotherJaredand 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 inreal estate.[33][34]

JK2[edit]

See also:Kushner Companies § Controversies

Kushner owns 50% of JK2 (also known as Westminster Management), a real estate management company, his brotherJaredowns the other 50%. In April 2021, a Judge ruled that JK2 was found to have committed "widespread and numerous" violations of Maryland'sconsumer protectionlaws at Baltimore-area properties by collecting debts without the required licenses, charging tenants improper fees, and misrepresenting the condition of rental units.[35][36][37]

Kushner's JK2 was also featured in an episode of Netflix'sDirty Moneyseries titled "Slumlord Millionaire."[38]The episode was based on an expose fromProPublicaaccusing the company of abusing tenants rights, leaving homes in disrepair, humiliating late-paying renters and suing tenants when they try and move out.[39]

During theCOVID-19 pandemic,JK2 filed a significant number of lawsuits against tenants for debt collection and eviction, despite an eviction moratorium being in place.[40]

Personal life[edit]

Kushner started dating modelKarlie Klossin 2012.[41]The couple got engaged in July 2018, a month after Kloss'conversion to Judaism(Kushner's faith).[42]The couple married on October 18, 2018.[43]

Months prior to theQatar diplomatic crisis,Kushner Companieshad attempted to seek financing from the Qataris for their signature666 Fifth Avenueproperty, which was facing a massive debt load in April 2017.[44]Joshua's father,Charles Kushner,had met with Qatari finance minister, Ali Shareef Al Emadi, twice to seek financing for the property.[44][45]During the same week that his father was meeting with Ali Shareef Al Emadi, Josh also met with Al Emadi.[46]The deal fell through.[47][48][49][50]

According to an investigation byThe New York Times,in October 2017, Joshua Kushner met with several senior members of the Saudi government and the Saudi sovereign wealth fund at a conference inRiyadh.The day after he left, his brother Jared, along with several other senior members of the Trump administration, met withCrown Prince Mohammed Bin Salman.[51]While the meeting was not illegal, it raised potential conflict of interest concerns.[51][52]

In October 2020, it was reported that Kloss and Kushner were expecting their first child.[53]Their first child, Levi Joseph, was born on March 11, 2021.[54][55]His wife announced her second pregnancy with Kushner during theMet Galain May 2023.[56]Their second child, Elijah Jude, was born on July 11, 2023.[57][58]In December 2020, the couple purchased a home inMiami, Floridafor US$23.5 million.[59]

Kushner was included in a 2024Washington Postarticle about aWhatsAppgroup chat from October 2023 through early May 2024 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,” followingHamas's October 7th attack on Israel.[60]However, a spokesperson of Kushner stated that, “Josh has not participated in [the group chat].”[61]

His brother,Jared,who isDonald Trump's son-in-law, was a senior advisor to the President during Trump's presidency, and is also an investor in Oscar Health.[62]

See also[edit]

References[edit]

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External links[edit]

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