Joshua Kushner

Joshua Kushner (born June 12, 1985) is an American businessman, heir and investor. He is the founder and managing partner of the investment firm Thrive Capital, co-founder of Oscar Health, and the son of real estate magnate Charles Kushner. His brother is Jared Kushner, the son-in-law and former senior advisor to former U.S. President Donald Trump.

Joshua Kushner
Born (1985-06-12) June 12, 1985
Livingston, New Jersey, U.S.
Alma materHarvard University (AB, MBA)
OccupationOwner of Thrive Capital
Co-founder of Oscar Health
Principal director of Kushner Properties
Political partyDemocratic[1]
Spouse(s)
​
(m. 2018)​
Parent(s)Charles Kushner
Seryl Stadtmauer
RelativesJoseph Berkowitz (grandfather)
Jared Kushner (brother)
Murray Kushner (uncle)

Early life

Kushner grew up in a Jewish family in Livingston, New Jersey.[2] He graduated from Harvard College in 2008, and Harvard Business School in 2011.[3][4]

Career

Early career

During his sophomore year, Kushner was founding executive editor of Scene, a new Brooks Brothers-sponsored student-publication that aimed to be "Harvard's version of Vogue and Vanity Fair".[5] According to The Harvard Crimson, Scene "faced blistering criticism upon its release", with students going so far as creating a "Scene Magazine is Bullshit" Facebook group criticizing it for its "completely ludicrous ... skewed portrayal of the Harvard community" and "lack of models who were minorities".[6]

In the spring of his junior year, with two graduate students he pooled $10,000 to found social network Vostu,[7] 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".[8]

The year after graduation, he also co-founded a start-up called Unithrive, with the cousin of the president of Kiva who was also a Harvard student. 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.[9] After graduating from Harvard, he started his career in the Private Equity Group at Goldman Sachs, in the Merchant Banking Division,[10] but left after a short stint.

Thrive Capital

He founded Thrive Capital in 2009, his private equity and venture capital firm that focuses on media and internet investments.[11][12] Since its founding, Thrive has raised $750 million from institutional investors, including Princeton University.[13] Thrive has raised several capital funds, including Thrive II, which raised $40 million in 2011, Thrive III, which raised $150 million in 2012, and Thrive IV, which raised $400 million in September 2014.[13][14]

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.[7]

For his work with Thrive, Kushner was named to Forbes' 30 Under 30,[15] Inc. Magazine's 35 Under 35,[16] Crain's 40 Under 40,[17] and Vanity Fair's Next Establishment.[18]

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.[19] During calendar year 2020 Oscar's net income was -$400 million. It filed to go public in 2021.[20]

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 client, such as family offices and endowments, invest in real estate.[21]

Personal life

Kushner started dating model Karlie Kloss in 2012.[22] The couple got engaged in July 2018,[23] and were married on October 18, 2018.[24]

As the brother of Donald Trump's senior advisor and son-in-law, Jared Kushner, Joshua stated through his spokesman that "he loved his brother and did not want to say anything that might embarrass him." Nevertheless, the spokesman also said that "Josh is a life-long Democrat and did not vote for Donald Trump in November",[1] with their parents being Democratic donors until 2016.[25]

He and his wife published photos in support of the March for Our Lives.[26]

He traveled to Saudi Arabia to attend conferences and has met with Saudi Arabia's Crown Prince Mohammed bin Salman.[27]

Joshua Kushner purchased a minority stake in the Memphis Grizzlies in 2019. Members of the Grizzlies board noted that he "likely soiled his pants" during a stakeholder's meeting. He promptly denied these claims. [28] He donated to Beto O'Rourke and his 2018 campaign for U.S. Senate in Texas.[29]

References
  1. Ward, Vicky (August 18, 2016). "JARED KUSHNER'S SECOND ACT: His father-in-law is in the White House, and he's got a seat at the table". Esquire. Retrieved June 24, 2018.
  2. "Forbes Features Members of the Tribe In 30 Under 30". Jspace.com. December 29, 2011. Archived from the original on January 30, 2012. Retrieved November 7, 2013.
  3. Alyson Shontell (October 28, 2010). "Here Is Why VC And Entrepreneur Joshua Kushner Is Bothering To Get His MBA". Business Insider. Retrieved November 7, 2013.
  4. "Q+A Joshua Kushner". Details. Retrieved November 7, 2013.
  5. Neyfakh, Leon (December 7, 2005). "DOORDROPPED: Which Scene?". The Harvard Crimson. Retrieved January 2, 2016.
  6. "Glossies Gear Up For Second Run | News | The Harvard Crimson". www.thecrimson.com. Retrieved January 2, 2016.
  7. "The 26-Year-Old VC Who Cashed In On Instagram". Forbes. Retrieved January 2, 2016.
  8. Benitez, Andrew M. (March 7, 2007). "Students Start Spanish Social Site". The Harvard Crimson. Retrieved January 2, 2016.
  9. Salkin, Allen (June 12, 2009). "I'm Going to Harvard. Will You Sponsor Me?". The New York Times. ISSN 0362-4331. Retrieved January 2, 2016.
  10. "The 26-Year-Old VC Who Cashed In On Instagram". Forbes. Retrieved November 7, 2013.
  11. Rusli, Evelyn M. (August 22, 2011). "Joshua Kushner's Thrive Capital Raises $40 Million". The New York Times. Retrieved November 7, 2013.
  12. "Joshua Kushner worked for Goldman Sachs before he started Thrive Capital, which invested in Instagram and Kickstarter". Business Insider. Retrieved January 2, 2016.
  13. Rusli, Evelyn M. (September 6, 2012). "Thrive Capital Raises $150 Million Fund, Bolstering Profile". The New York Times. Retrieved November 7, 2013.
  14. "Venture Firm Thrive Capital Raises Another Fund". The New York Times. October 6, 2014. Retrieved June 3, 2015.
  15. Vardi, Nathan. "Joshua Kushner, Managing Partner, Thrive Capital, 26 - In Photos: 30 Under 30: Finance". Forbes. Retrieved November 7, 2013.
  16. "Insurance in the U.S. is Broken. Oscar Wants to Fix It". Inc. Magazine. June 24, 2014. Retrieved June 3, 2015.
  17. "Crain's 40 Under Forty Joshua Kushner, 28". Crain's New York Business. Retrieved June 3, 2015.
  18. Deligter, Jack (March 21, 2012). "The Next Establishment". Vanity Fair. Archived from the original on September 23, 2011. Retrieved November 7, 2013.
  19. Bertoni, Steven. "Oscar Health Gets $400 Million And A $2.7 Billion Valuation from Fidelity". Forbes. Retrieved May 12, 2016.
  20. Livingston, Shelby. "Oscar Health, the original buzzy health insurance startup, has filed to go public. We pored over its 208-page filing to find 4 key takeaways". Business Insider. Retrieved February 8, 2021.
  21. "Kushner Brothers Combine Real Estate and Technology". The New York Times. March 24, 2015. Retrieved June 3, 2015.
  22. Friedman, Gabe (January 25, 2017). "Who is Jared Kushner's brother, and could his $2.7b company fail under Trump?". The Times of Israel. Retrieved January 25, 2017.
  23. "Karlie Kloss Is Engaged to Joshua Kushner: 'Their Hearts Are Full'". PEOPLE.com. Retrieved July 24, 2018.
  24. Kimble, Lindsay (October 18, 2018). "Karlie Kloss Is Married! Supermodel Weds Joshua Kushner in Custom Dior Gown". People. Retrieved October 19, 2018.
  25. Sullivan, John (August 22, 2004). "Like an 'Abandoned Planet'". The New York Times. Retrieved February 24, 2011.
  26. Taylor, Kate (August 26, 2018). "Jared Kushner's brother is breaking his political silence following Trump's election—here's everything we know about the millionaire entrepreneur who's dating model Karlie Kloss". Business Insider. Retrieved June 24, 2018.
  27. "The Kingdom and the Kushners. Jared Went to Riyadh. So Did His Brother". The New York Times. March 21, 2019. Retrieved March 21, 2019.
  28. https://www.forbes.com/sites/mikeozanian/2019/03/26/memphis-grizzlies-minority-sale-to-kushner-values-team-at-132-billion/?sh=6e973ecd788b
  29. "Jared Kushner's brother, Josh Kushner, donated close to the maximum amount to Beto O'Rourke's 2018 Senate campaign against Ted Cruz". Retrieved August 13, 2019. Joshua Kushner purchased a minority stake in the Memphis Grizzlies in 2019
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