As sports team values continue to skyrocket, the people who can afford to invest in these franchises are among the wealthiest people on the planet.
Today, the list of wealthiest sports team owners includes two separate heirs to the Walmart fortune, Rob Walton and Ann Walton Kroenke, along with Bill Gates’ former assistant Steve Ballmer.
Business Insider compiled a list of the wealthiest individuals who own a majority stake in a team from a major professional sports league and looked at how they made their fortunes, using data from Forbes.
These 10 billionaires —along with some of their families — are worth a combined $548.8 billion and own four soccer teams, four NBA teams, three NFL teams, two NHL teams, an MLB team, and a cricket team in India.
Net worth: $19.8 billion
Teams owned: New York Mets (MLB)
Steve Cohen made his billions as a founder of several hedge funds, including Point72, which manages $33.9 billion in assets. The firm has 185 investing teams and its primary focus is stock-picking.
In 2020, Cohen purchased a 95% share of the New York Mets for an estimated $2.4 billion.
Net worth: $21 billion
Teams owned: Carolina Panthers (NFL), Charlotte FC (MLS)
David Tepper spent many years working for Goldman Sachs but left in the early 1990s when he was passed over for partner. He founded the Appaloosa Management hedge fund in 1993, which holds $6.7 billion in assets. Its biggest holdings are in Alibaba and Adobe.
Tepper purchased the Carolina Panthers in 2018 for a then-record $2.2 billion.
Pinault and family net worth: $26 billion
Teams owned: Stade Rennais FC (French Ligue 1)
François Pinault is the founder and owner of Kering, a luxury group that owns several iconic fashion brands, including Gucci, Saint Laurent, and Balenciaga. Pinault’s first success came in the timber industry before pivoting to wine and retail.
Pinault purchased his hometown soccer club, Stade Rennais FC, in 1998.
Net worth: $27 billion ($16 billion via Stan Kroenke and $11 billion via Ann Kroenke)
Teams owned: Los Angeles Rams (NFL), Denver Nuggets (NBA), Colorado Avalanche (NHL), Arsenal FC (English Premier League), Colorado Rapids (MLS)
Stan Kroenke made most of his fortune in real estate development through the ownership of The Kroenke Group. He is married to Ann Walton Kroenke, the niece of Walmart founder Sam Walton and one of the heirs to the family’s fortune. Together, they are one of the largest landowners in the US.
The Kroenkes own many sports franchises through their holding company Kroenke Sports & Entertainment, including some esports teams.
Net worth: $28 billion
Teams owned: Cleveland Cavaliers (NBA)
Dan Gilbert grew his fortune as the founder of an online mortgage lending company called Rock Financial that was purchased by Intuit in 1999 at a valuation of $370 million. That year, the company was rebranded to Quicken Loans. Today, Gilbert owns over 100 businesses, including the highly successful online sneaker marketplace StockX.
Gilbert purchased the Cleveland Cavaliers in 2005 for a then-NBA record $375 million.
Adelson and family net worth: $32 billion
Teams owned: Dallas Mavericks (NBA)
Miriam Adelson is the widow of Sheldon Adelson, the former owner of the Las Vegas Sands casino, who died in 2021. She and her family own more than half of the gambling kingdom.
In 2023, Adelson and her family purchased the Dallas Mavericks from Mark Cuban for $3.5 billion.
Thompson and family net worth: $72 billion
Teams owned: Winnipeg Jets (NHL)
David Thomson is the head of Canada’s wealthiest family, which made its money from a publishing and media empire. Additionally, Thomson is the chairman of the Thomson Reuters Corporation.
Thomson is also a co-owner of the sports and entertainment ownership and management company True North Sports + Entertainment. In 2011, True North purchased the NHL’s Atlanta Thrashers and moved the team to Canada, where it became the Winnipeg Jets.
Walton and family net worth: $82 billion
Teams owned: Denver Broncos (NFL)
Rob Walton is the former Walmart chairman and son of the Walmart founder. When his father died in 1992, he inherited a large chunk of the family fortune.
Walton and his family purchased the Denver Broncos in 2022 for $4.65 billion. At the time, it was the highest price ever paid for a professional sports team.
Net worth: $114 billion
Teams owned: Mumbai Indians (Indian Premier League)
Mukesh Ambani is the richest person in India and the patriarch of the wealthiest family in Asia. He is one of the heirs to the Ambani fortune, which began with a fabric and textile company, Reliance Industries. Ambani is the owner and chairman of what is now a massive conglomerate that includes energy, retail, telecommunications, media, and entertainment companies.
In 2008, upon the formation of the new cricket league, the Indian Premier League, Reliance Industries purchased the Mumbai Indians for $112 million.
Net worth: $127 billion
Teams owned: Los Angeles Clippers (NBA)
Steve Ballmer joined Microsoft in 1980 as Bill Gates’ assistant. He eventually negotiated a contract that included an equity stake in the company, which helped him build most of his fortune. He eventually rose to CEO of Microsoft. At the time of this writing, Forbes ranked him the 10th richest person in the world.
In 2014, Ballmer purchased the Los Angeles Clippers for $2 billion. Many believed he overpaid for the team at the time, with the price not in line with other contemporary sales of NBA teams. However, according to Forbes, the franchise is now worth $4.7 billion.
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