A group of global billionaires worth at least $123 billion are buying a stake in Thrive Capital, the venture-capital firm founded by Josh Kushner.
(Bloomberg) — A group of global billionaires worth at least $123 billion are buying a stake in Thrive Capital, the venture-capital firm founded by Josh Kushner.
India’s Mukesh Ambani, Brazil’s Jorge Paulo Lemann and France’s Xavier Niel will join KKR & Co. co-founder Henry Kravis and Walt Disney Co. Chief Executive Officer Robert Iger in investing $175 million to purchase a 3.3% stake in Thrive, the Wall Street Journal reported Tuesday.
The deal values Thrive at $5.3 billion, up from $3.6 billion in 2021, when it sold a stake to a unit of Goldman Sachs Group Inc. Its total assets under management reached $15 billion last year.
A representative for New York-based Thrive didn’t immediately respond to an emailed request for comment.
The investment represents a collection of some of the richest people from across the globe.
Ambani is the world’s 12th richest person, with a $84.7 billion fortune, according to the Bloomberg Billionaires Index. Lemann, with a net worth of $21.1 billion, is Brazil’s wealthiest individual. Kravis is worth $9.5 billion and Niel has an $8.1 billion personal fortune, according to the index.
“A lot of these folks have been involved in my life for quite a bit of time,” Kushner, 37, said in an interview with the Journal. “Now they actually have a vested stake in the firm’s success.”
Thrive was founded in 2009 by Kushner, the younger brother of Jared Kushner, the son-in-law of former President Donald Trump who served as a senior White House adviser under his administration.
It has invested in firms including Oscar Health Inc., Compass Inc., Affirm Holdings Inc., Opendoor Technologies Inc., Unity Software Inc., Hims & Hers Health Inc. and SKIMS, an underwear company created by Kim Kardashian.
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