Thrive's Kushner defends involvement in FIFA mess, hires Elon's go-to lawyer
News Source
β’Tue, 01 Sep 2026 19:30:24 +0000
π° What Happened
Thrive Capital, a secretive New York venture firm, is caught in a messy FIFA scandal. FIFA president Gianni Infantino could face criminal charges. Thrive founder Josh Kushner finally spoke out, saying the original idea was sound. He admitted that if they had known how bad it would get, they would not have gotten involved.
The plan was to create FIFA Forward Enterprise, a company that would own parts of the World Cup business, like TV rights and ticket sales. Thrive agreed to be a lead investor in $4.2 billion of shares, about 20% of that company.
π The Backstory
FIFA's member teams would own the new company, but they could sell their shares to private investors. FIFA asked JPMorgan to find investors, and Thrive joined the deal. European teams grew outraged because they benefit more than other regions under the current setup.
A North American teams group also objected. They feared outsiders like private equity funds gaining influence. Thrive has now hired Elon Musk's go-to lawyer to defend itself. Kushner stands by the business idea, but not by how it turned out.
π― Why It Matters
FIFA runs the World Cup, and its money decisions affect fans, players, and the sport itself. If leaders break rules, ordinary fans pay for it through mistrust in the game.
Thrive Capital, a secretive New York venture firm, is caught in a messy FIFA scandal. FIFA president Gianni Infantino could face criminal charges. Thrive founder Josh Kushner finally spoke out, saying the original idea was sound. He admitted that if they had known how bad it would get, they would not have gotten involved.
The plan was to create FIFA Forward Enterprise, a company that would own parts of the World Cup business, like TV rights and ticket sales. Thrive agreed to be a lead investor in $4.2 billion of shares, about 20% of that company.
FIFA's member teams would own the new company, but they could sell their shares to private investors. FIFA asked JPMorgan to find investors, and Thrive joined the deal. European teams grew outraged because they benefit more than other regions under the current setup.
A North American teams group also objected. They feared outsiders like private equity funds gaining influence. Thrive has now hired Elon Musk's go-to lawyer to defend itself. Kushner stands by the business idea, but not by how it turned out.
FIFA runs the World Cup, and its money decisions affect fans, players, and the sport itself. If leaders break rules, ordinary fans pay for it through mistrust in the game.