A third private equity firm is set to own a small portion of the SF Giants, as Joshua Kushner, brother of Trump’s son-in-law Jared Kushner, announced that his firm Thrive Eternal has agreed to purchase a minority, non-controlling stake in the team.
Joshua Kushner, brother of Jared Kushner, President Donald Trump’s son-in-law, announced Friday that his new firm Thrive Eternal, a New York-based permanent capital holding company, is purchasing a minority, non-controlling stake in the San Francisco Giants, as the Wall Street Journal first reported. The partnership will be the firm’s first investment, which Kushner called “a major bet on a sports business by a firm known for high-tech bets,” according to Sports Business Journal.
Joshua Kushner wrote about the deal on X, which he says is pending league approval. He said the Giants deal inspired the launch of Thrive Eternal, which is designed to acquire and hold long-term stakes in cultural institutions like sports franchises. His two other firms, Thrive Capital and Thrive Holdings, reportedly focus on technology investments that operate on shorter-term investment cycles.
Today we announce Thrive Eternal, a permanent capital holding company that will be concentrated in a small number of assets that we can own and steward over many decades.
— Joshua Kushner (@JoshuaKushner) April 24, 2026
Across Thrive Capital and Thrive Holdings, we are building and investing through a moment of exponential…
“These are assets with qualities that cannot be replicated by technology,” writes Kushner. “Iconic franchises and cultural institutions rooted in tradition, identity, and shared experience.”
“In a world shaped by abundant intelligence where creation scales and distribution fragments, we believe they will matter even more,” says Kushner.
SFGate reports that the deal was likely initiated over a month ago, as Kushner’s wife, supermodel Karlie Kloss, posted a photo on Instagram in March of the pair and their two young children sitting in the Giants’ ownership section at the Opening Day game against the New York Yankees. (SF Mayor Daniel Lurie can be seen in the background adjusting his tie.)
Thrive Eternal will reportedly be taking over the stake of existing investors, one which is responsible for Oracle Park infrastructure and team real estate. It has not been revealed how large a stake in the team was purchased.
Thrive would be one of three private equity firms to now own a stake in the Giants, as Texas-based firm Arctos Sports Partners owns around two percent, and the SF-based Sixth Street bought 10% last year, per SFGate.
The Giants were reportedly valued as Major League Baseball’s fifth-most valuable team at $4.05 billion prior to the start of the 2026 season.
“We have reached an agreement for Thrive Eternal to join our investor group, subject to MLB approval,” said the Giants in a statement to Bloomberg. “We are thrilled with the prospect of Eternal becoming a long-term partner.”
Former Disney CEO Bob Iger has reportedly signed on as a consultant in the venture. Per Sports Business Journal, some of Thrive’s other investments include Spotify, Instagram, A24, and SKIMS.
Previously, Kushner purchased a small stake in the Memphis Grizzlies in 2019, per Wikipedia, which he sold in 2024 for a small stake in the Miami Heat.
Image: Exterior entrance sign for Oracle Park, home of the San Francisco Giants, with brick facade in the South Beach neighborhood, San Francisco, California, March 18, 2025. (Photo by Smith Collection/Gado/Getty Images)
