Venture capitalist Josh Kushner and former Disney CEO Bob Iger are buying the NBA's Los Angeles Lakers at a record $12.5 billion valuation, Axios' Dan Primack reports.

😵‍💫 This is a dizzying turnaround for the Lakers, one of pro sports' most iconic franchises.

• Billionaire Mark Walter purchased a controlling stake just last October at a $10 billion valuation.
• Kushner and Iger, who work together on sports-focused investment platform Thrive Eternal, were first interested in an NBA expansion franchise in Las Vegas — but then turned their attention further west.

💸 A source says that Kushner and Iger each would invest individually, with Kushner serving as control owner.

• Thrive Eternal is expected to invest, but is limited by NBA rules to no more than a 20% stake.
• Expect other investors to join.

Between the lines: Prosecutors are investigating Walter's insurance companies and investment firm, Bloomberg reported last month.

What's next: The deal still requires league approval.

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The global diesel market is getting even dicier amid the Iran and Russia-Ukraine wars, Axios' Ben Geman writes.

• Diesel prices ripple through global economies, affecting shipping costs, construction and much more.

🤑 The average U.S. price is up 44 cents over the last month to $5.32 per gallon as of yesterday, per AAA. That's compared to $3.71 a year ago.

• The all-time high: $5.82, in June 2022.

📉 A new S&P Global Energy analysis estimates that global refineries processed 7.5 million fewer barrels of crude oil daily last month than during the same period in 2025.

• A separate International Energy Agency report also shows a steep drop in crude processing.

🛢️ The U.S. has been exporting growing amounts of diesel to the thirsty global market, but S&P says domestic refineries are running at 96% capacity — leaving little room to boost production.

• Mizuho Securities analyst Robert Yawger said in a note: "The situation is not going away anytime soon, and could very well get more expensive."

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1. 🏗️ President Trump's Kennedy Center renovation would polish its Carrara marble facade, remodel its grand halls and theaters, and likely send marquee events offsite over the next few years, according to plans first obtained by Axios' Cuneyt Dil. Go deeper.
2. 🦠 The Ebola outbreak in Congo is on track to eclipse the deadliest in history, which killed over 11,000 people, WHO director-general Tedros Adhanom Ghebreyesus said today. Over 2,000 people have died so far. Get the latest.
3. 🕹️ A rare haul of classic Nintendo video game cartridges is going up for auction after sitting in storage for years. Collector Jason Ganos tells AP: "It's like pulling out like a Holy Grail." Go deeper.

Parts of Europe were treated to a spectacular total solar eclipse today, while one of the year's best meteor showers awaits stargazers tonight, Alex Fitzpatrick writes.

• Tourists flocked to Iceland, Spain and other areas in the eclipse's path of totality, where the Moon briefly blocked the Sun from view, creating an eerie and awe-inspiring moment of daytime darkness.

🌙 Folks in the Northeastern U.S. and elsewhere were treated to a partial solar eclipse, with the Moon appearing to take a "bite" out of the Sun.

Meanwhile: The annual Perseid meteor shower peaks tonight, as particles from Comet Swift-Tuttle burn up in Earth's atmosphere in often-spectacular fireballs.

• Tonight's New Moon will make for especially dark skies, promising a good show. Cloud forecast.

🔭 How to watch: Get away from city lights, keep your phone in your pocket to preserve your night vision, and bring a blanket so you can lie down and look up at the whole sky.

• You can't go wrong with some hot cocoa, either.

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