Billionaires Worth $123 Billion Buy Stake in Kushner’s Thrive

A group of global billionaires worth at least $123 billion are buying a stake in Thrive Capital, the venture-capital firm founded by Josh Kushner.

India’s Mukesh Ambani, Brazil’s Jorge Paulo Lemann and France’s Xavier Niel will join KKR & Co. co-founder Henry Kravis and Walt Disney Co. Chief Executive Officer Robert Iger in investing $175 million to purchase a 3.3% stake in Thrive.

“These extraordinary operators have built storied institutions, achieved geographic preeminence, ushered beloved brands to even greater heights, and pioneered entirely new industries,” Thrive said in a statement on Tuesday posted on Medium.

The deal values ...