Joshua Kushner

Joshua Kushner (born June 12, 1985) is an American businessman, heir, and investor. He is the founder and managing partner of the venture capital firm Thrive Capital, co-founder of Oscar Health, and the son of real estate developer Charles Kushner. He is the brother of Jared Kushner, son-in-law and former senior advisor to former U.S. President Donald Trump. He is a minority owner of the Memphis Grizzlies.
Early life & education
Kushner grew up in a Jewish family in Livingston, New Jersey to Charles and Seryl Kushner. Kushner graduated from Harvard College in 2008, and from Harvard Business School in 2011.
Career
Early career
During his sophomore year, Kushner was founding executive editor of Scene, a new pop culture student-publication. The publication was badly received by critics upon release.
In the spring of his junior year he worked with two graduate students to pool $10,000 in order to found social network Vostu, 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". 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.
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. After graduating from Harvard, he started his career in the private equity arm at Goldman Sachs, working for a year on distressed debt.
Thrive Capital
He founded Thrive Capital in 2010, a venture capital firm that focuses on media and internet investments. Since its founding, Thrive has raised over $7.3 billion from institutional investors, including Princeton University. 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; 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.
As an investor in Instagram, 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 to Facebook.
For his work with Thrive, Kushner was named to Forbes 30 Under 30, Inc. Magazine's 35 Under 35, Crain's 40 Under 40, and Vanity Fair's Next Establishment.
In 2021 it was reported by Bloomberg that Goldman Sachs had invested in Kushner's Thrive Capital at a $3.6 billion valuation.
Oscar
Kushner is a co-founder of Oscar Health, a health insurance start-up. Founded in 2012, Oscar was valued at $2.7 billion in 2016. Oscar went public in 2021, with Kushner's Thrive Capital owning a stake worth $1.21 billion. Oscar reported an $87 million loss in its first quarter as a publicly traded company.
In 2020, it was revealed by The Atlantic that 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.
Cadre
In 2015, Kushner founded a new company called Cadre with his brother Jared and 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 in real estate.
JK2
Kushner owns 50% of JK2 (also known as Westminster Management), a real estate management company, his brother Jared owns the other 50%. In April 2021, a Judge ruled that JK2 was found to have committed "widespread and numerous" violations of Maryland's consumer protection laws at Baltimore-area properties by collecting debts without the required licenses, charging tenants improper fees, and misrepresenting the condition of rental units.
Kushner's JK2 was also featured in an episode of Netflix's Dirty Money series titled "Slumlord Millionaire." The episode was based on an expose from ProPublica accusing the company of abusing tenants rights, leaving homes in disrepair, humiliating late-paying renters and suing tenants when they try and move out.
During the COVID-19 pandemic, JK2 filed a significant number of lawsuits against tenants for debt collection and eviction, despite an eviction moratorium being in place.
Personal life
Kushner started dating model Karlie Kloss in 2012. The couple got engaged in July 2018, a month after Kloss' conversion to Judaism (Kushner's faith). The couple married on October 18, 2018. The couple had their first child, a son, in 2021. During the 2023 Met Gala, Kloss announced her pregnancy in the third trimester, making the news of Kushner and Kloss' second child public. There had been pregnancy rumors surrounding the couple beforehand. The couple welcomed their second child, a son, in July 2023.
His brother, Jared Kushner, is Donald Trump's son-in-law, was his senior advisor during Trump's presidency, and is an investor in Oscar Health.
2017 Saudi Arabia trip
According to an investigation by the NY Times, in October 2017, Joshua Kushner met with several senior members of the Saudi government and the Saudi sovereign wealth fund at a conference in Riyadh. The day after he left, his brother Jared, along with several other senior members of the Trump administration, met with Crown Prince Mohammed Bin Salman. While the meeting was not illegal, it raised potential conflict of interest concerns.
666 Fifth Avenue Investment
Months prior to the Qatar diplomatic crisis, Kushner Companies had attempted to seek financing from the Qataris for their signature 666 Fifth Avenue property, which was facing a massive debt load in April 2017. Joshua's father, Charles Kushner, had met with Qatari finance minister, Ali Shareef Al Emadi, twice to seek financing for the property. During the same week that his father was meeting with Ali Shareef Al Emadi, Josh also met with Al Emadi. The deal fell through.
See also
Kushner family
Karlie Kloss
References
External links
1985 births
21st-century American businesspeople
American chief executives of financial services companies
American corporate directors
American financiers
American businesspeople in insurance
American investment bankers
American investors
American people of Belarusian-Jewish descent
American real estate businesspeople
American venture capitalists
Businesspeople from New Jersey
Goldman Sachs people
Harvard Business School alumni
Joshua
Living people
People from Livingston, New Jersey
New Jersey Democrats
Harvard College alumni