The San Francisco Giants have reportedly sold yet another part of the team to a venture capital firm — and this time, it’s one owned by a Kushner.
Joshua Kushner, the brother of President Donald Trump’s son-in-law Jared, announced on X on Friday that his firm Thrive Capital has agreed to acquire a stake in the San Francisco Giants. The news of Thrive’s purchase was first reported by the Wall Street Journal.
“Our first partnership is expected to be with the San Francisco Giants – an institution built on more than a century of shared identity and community, and among the most iconic sports franchises in America,” Kushner wrote. “We have reached an agreement, subject to league approval, to acquire an ownership stake. We feel privileged by the opportunity to be long-term partners to the Giants.”
In a statement provided to Bloomberg, the Giants said, “We have reached an agreement for Thrive Eternal to join our investor group, subject to MLB approval. We are thrilled with the prospect of Eternal becoming a long-term partner.”
Bloomberg reported that Thrive Eternal will buy out some existing team investors, with plans for Thrive’s money to otherwise go toward Oracle Park and the team’s real estate. Ahead of the 2026 season, the Giants revamped the area around the Willie Mays Gate, their primary entry point into Oracle Park.
Three private equity firms now have a piece of the Giants. Arctos Sports Partners owns about 2% of the Giants, according to the San Francisco Chronicle. (The Chronicle and SFGATE are both owned by Hearst but have separate newsrooms.) Just before the 2025 season, the Giants sold 10% of the team to Sixth Street, a San Francisco private equity firm that also owns NWSL team Bay FC and has stakes in Real Madrid, Barcelona, the San Antonio Spurs and the Boston Celtics.
Before the 2026 season, Forbes updated its MLB valuations to list the Giants at $4.05 billion, the fifth-most valuable team in MLB. But that was before the San Diego Padres — valued by Forbes at $3.1 billion on March 20 — sold for a record $3.9 billion last week. The new valuation of the team and the amount of the team Thrive purchased have not been reported at this time, though the Wall Street Journal said it is a minority, non-controlling stake.
On Thursday, Kushner announced that longtime Disney CEO Bob Iger is rejoining Thrive in an advisory capacity. The Wall Street Journal reported that Iger “will help with the new effort” but didn’t have anything further to report.
It appears the sale has been in the works for a little while, though. Kushner and his wife, supermodel Karlie Kloss, attended the Giants’ season-opening game against the New York Yankees last month, in the section where Giants ownership and their guests typically sit. (Seen in the background of the shot of the family? San Francisco Mayor Daniel Lurie.)