Investment firm Thrive has acquired a non-controlling minority stake in the San Francisco Giants, marking its first investment in a professional sports franchise.
The deal, made through Thrive’s new subsidiary Thrive Eternal, values the Major League Baseball team at approximately $4.05 billion, according to Forbes estimates for 2026. The transaction is subject to approval by at least 75% of MLB team owners, though no opposition is expected.
Giants controlling owner Greg Johnson will remain in his role following the investment.
Thrive, founded in 2009 by Joshua Kushner, has traditionally focused on technology companies and recently expanded into artificial intelligence. The new Thrive Eternal arm targets “cultural institutions†such as sports franchises, which the firm believes will retain long-term value despite advances in AI.
The San Francisco Giants are one of MLB’s most historic teams, with eight World Series titles, most recently in 2014. The team has not reached the postseason since 2021 and currently sits fourth in the National League West with a 13–15 record after 28 games.
The franchise plays at Oracle Park, which opened in 2000 and has a capacity of 42,300.
The investment comes amid increased activity in MLB franchise ownership, including the recent $3.9 billion sale of the San Diego Padres. Industry observers note that upcoming collective bargaining negotiations in 2026 and media rights discussions in 2028 may influence team valuations and investor interest.