Joshua Kushner is a mainstay of the New York tech scene, founding the investment firm Thrive Capital, which has $2.5 billion under management, and cofounding Oscar Health, a health start-up. He was brought into the Grizzlies ownership group by Pera, who is also part of the New York tech scene. The deal stemmed from an unusual arrangement Pera had with previous limited partners of the Grizzlies. Pera agreed to purchase the Memphis Grizzlies from Michael Heisley in June 2012 for $377 million. The Grizzlies have slumped to a record of 29-42 after a promising start and will miss the N.B.A.

Source: New York Times March 22, 2019 17:58 UTC