The Billionaire Tax Shield: How Sports Team Ownership Became a Haven for the Wealthy The recent news that Joshua Kushner is set to become the owner of the Los Angeles Lakers, alongside former Disney CEO Bob Iger, has sparked widespread interest in the world of sports and finance.
Some hail the deal as a coup for Kushner's investment firm, Thrive Capital, while others are raising eyebrows at the sheer scale of the transaction.
At its core, the Lakers deal is not just a lucrative business opportunity but also a savvy play on the tax code.