Iger, Kushner, Walter Have Sports Empires Beyond the Lakers

Bob Iger and Joshua Kushner are slated to add the Lakers to sports portfolios that already stretch across multiple leagues and franchises. 

The pair’s $12.5 billion deal with Mark Walter—after the billionaire Guggenheim CEO bought the team in 2025 at a $10 billion valuation—would give both a stake in one of the NBA’s marquee teams while also forcing Kushner to sell off his existing investment in the Miami Heat. Walter, meanwhile, would still retain a sprawling collection of sports investments even after selling his majority stake in the Lakers. 

Here’s where each of their sports investments stands as the Lakers deal moves forward.

Bob Iger

Iger, 75, is the former CEO of Disney, where he led the company for nearly two decades before stepping down in March 2026. Iger has close ties to Kushner’s Thrive Capital, where he first joined as a venture partner in 2022, later made a personal investment in the firm, and then joined as an adviser once leaving his role at Disney. He has also frequently been seen courtside at Lakers games.

• Angel City FC: Iger and his wife, Willow Bay, agreed to acquire the controlling stake in the NWSL team in 2024 at a $250 million valuation. Bay serves as Angel City’s controlling owner and represents the team on the NWSL’s board of governors.
• NBA expansion: Iger and Kushner had previously been linked to a possible ownership group for an NBA expansion team in Las Vegas, which includes several other potential investor groups.

Joshua Kushner

Kushner, 41, is the founder of venture capital firm Thrive Capital, which he launched in 2009. He is also the younger brother of Jared Kushner, President Donald Trump’s son-in-law and a former White House adviser.

• Miami Heat: Kushner became a minority owner of the Heat in late 2024. In buying the Lakers, Kushner will be forced to sell that stake as NBA rules prohibit an owner from controlling or managing more than one franchise.
• Memphis Grizzlies: Before investing in Miami, Kushner owned a minority stake in the Grizzlies, meaning the Lakers would become the third NBA franchise that he has held an ownership stake in. He sold the stake in May 2025.
• San Francisco Giants: Thrive Eternal, which falls under the umbrella of Kushner’s venture capital firm Thrive Capital, was founded in April when it acquired a stake in the Giants. 

Mark Walter

Walter, 66, helped found investment firm Guggenheim Partners in 1999 and remains its CEO. He later cofounded TWG Global in 2024, a holding company whose investments span technology, media, and sports. Forbes estimates Walter’s net worth at $7.3 billion. Federal authorities are reportedly investigating him for fraud in connection with his insurance businesses.

• Los Angeles Lakers: Walter bought the Lakers in October 2025 and is now selling his majority stake to Iger and Kushner.
• Los Angeles Dodgers: Walter is a co-owner and chairman of the Dodgers. He acquired the team in 2012 as part of Guggenheim Baseball Management alongside his longtime business partner Todd Boehly.
• Los Angeles Sparks: Walter acquired the Sparks in 2014 as part of an investment group led by him and Magic Johnson. 
• Professional Women’s Hockey League: Walter founded the league in 2023 after partnering with the Professional Women’s Hockey Players Association and purchasing the rival Premier Hockey Federation. 
• Motorsports: Walter owns stakes in Andretti Global and the Cadillac Formula One team through TWG Motorsports, part of Walter’s TWG Global.  
• Soccer: Walter owns 12.7% of BlueCo, the holding company that purchased Premier League club Chelsea in 2022 and Ligue 1 club RC Strasbourg Alsace in 2023.