More than 10% of Forbes 400 members own sports teams, including recent buyers Rob Walton and Todd Boehly.
In hindsight, it’s hard to imagine anyone but Rob Walton buying the Denver Broncos. With an estimated net worth of $56. Read also : Brad Stuver of Austin FC is a finalist for the ESPN Sports Humanitarian Award.7 billion, his buying power was almost impossible to match; only 16 other individuals on the planet are richer than the eldest son of the late Walmart founder, Forbes estimates, one of whom is his brother Jim (estimated to be worth $57.9 billion). The $4.65 billion price for the Broncos was the most expensive sale of a sports team in history, and when the deal closed in August, Walton instantly became the richest owner in the NFL.
“The Broncos are the only sports franchise we would consider buying,” Walton told reporters in August, adding that his son-in-law Greg Penner began talking about it a decade ago. The truth is that investing in any NFL franchise has proven to be extremely successful over the past two decades. Since 1998, when Forbes began publishing sports team valuations, NFL clubs have appreciated an average of nearly 1,500%, nearly triple what the S&P 500 returned to investors (including reinvested dividends) over the same period. That trend is likely to continue as the league’s $113 billion in new media rights deals begin.
Sports teams have made billionaires out of many rich people, including Robert Kraft of the New England Patriots and Jim Irsay of the Indianapolis Colts. But these days you practically have to be a billionaire to buy a team. Forbes 400 newcomer Todd Boehly made his fortune through his investment firm Eldridge before leading the group that shelled out $3.1 billion for Chelsea soccer club from Russian billionaire Roman Abramovich in May.
The richest sports owner in America, for the eighth year in a row, is Los Angeles Clippers owner Steve Ballmer, who ranks eighth overall on the Forbes 400. The 66-year-old, who led Microsoft as CEO from 2000 to 2014 and still owns shares in the tech giant, is estimated at $83 billion. That’s $13.5 billion less than last year because of the decline in Microsoft stock, but it would have fallen even more if it weren’t for the Clippers. He bought the NBA team in 2014 from former owner Donald Sterling for two billion dollars. It is now the sixth most valuable NBA club, valued at $3.3 billion.
Rounding out the top five, after Ballmer and Walton, are two hedge fund billionaires and a technology founder. David Tepper ranks third, with an estimated net worth of $18.5 billion. He bought the Carolina Panthers for $2.3 billion in 2018 and has seen the team’s value rise, according to NFL media rights, to $3.6 billion. He also owns MLS’s Charlotte FC. Next up is Memphis Grizzlies owner Robert Pera, with an estimated net worth of $17.6 billion, much of which comes from his 75% stake in wireless equipment maker Ubiquiti Networks, which he founded and runs as CEO. He bought the Grizzlies for $377 million in 2012 and, despite being the least valuable franchise in sports, the club has nearly quadrupled in value and is worth $1.5 billion today. At No. 5 is New York Mets owner Steve Cohen, whose club is making the playoffs for the first time since spending $2.4 billion on the team in 2020 (Forbes estimates the Mets are now worth $2.65 billion).
One person who has fallen in the ranks is Cleveland Cavaliers owner Dan Gilbert, now the sixth-richest sports owner in the country, up from second place a year ago. The Rocket Mortgage founder’s fortune fell 44% to an estimated $17.3 billion after the company’s stock lost half its value in the past year. Meanwhile, Dallas Cowboys owner Jerry Jones, No. 7, posted the biggest gain. His net worth jumped 76% to an estimated $16 billion thanks to big bets in real estate and natural gas, as well as his Cowboys. Dallas is the most valuable team in the NFL, worth $8 billion this year, up $1.5 billion from a year ago.
This year’s Forbes 400 includes 50 controlling sports team owners, up from 43 last year. Seventeen of its own NFL teams, 14 of its own NBA franchises, 12 of its own NHL clubs, and 9 of its own MLB. In addition to Walton and Boehly, newcomers are Robert “Woody” Johnson (New York Jets), Joe Mansueto (Chicago Fire FC) and Roger Penske (Team Penske). More than half (28) of these team owners are richer than they were a year ago, at least in part thanks to their valuable sports franchises.
STEVE BALLMER
Team: Los Angeles Clippers
Source of Wealth: Microsoft
Net Worth: $83 Billion (1-YEAR CHANGE: -14%)
2.
ROB WALTON
Team: Denver Broncos
Source of Wealth: Walmart
Net Worth: $56.7 Billion (1-YEAR CHANGE: -16.1%)
3.
DAVID TEPPER
Team: Carolina Panthers, Charlotte FC
Source of Wealth: Hedge Funds
Net Worth: $18.5 Billion (1-YEAR CHANGE: 17.1%)
4.
ROBERT PERA
Team: Memphis Grizzlies
Source of Wealth: Wireless Networking Gear
Net Worth: $17.6 Billion (1-YEAR-CHANGE: -7.4%)
5.
STEVE COHEN
Team: New York Mets
Source of Wealth: Hedge Funds
Net Worth: $17.5 Billion (1-YEAR-CHANGE: 9.4%)
6.
DANIEL GILBERT
Team: Cleveland Cavaliers
Source of Wealth: Quicken Loans
Net Worth: $17.3 Billion (1-YEAR-CHANGE: -44%)
7.
JERRY JONES
Team: Dallas Cowboys
Source of Wealth: Dallas Cowboys
Net Worth: $16 Billion (1-YEAR-CHANGE: 75.8%)
8.
STANLEY KROENKE
Team: Los Angeles Rams, Arsenal F.C., Denver Nuggets, Colorado Avalanche, Colorado Rapids
Source of Wealth: Sports, Real Estate
Net Worth: $12.9 Billion (1-YEAR-CHANGE: 20.6%)
9.
STEPHEN ROSS
Team: Miami Dolphins
Source of Wealth: Real Estate
Net Worth: $11.6 (1-YEAR-CHANGE: 39.8%)
10.
SHAHID KHAN
Team: Jacksonville Jaguars, Fulham F.C.
Source of Wealth: Auto Parts
Net Worth: $11.2 Billion (1-YEAR-CHANGE: 31.8%)
11.
PHILIP ANSCHUTZ
Team: Los Angeles Kings, LA Galaxy
Source of Wealth: Investments
Net Worth: $11 Billion (1-YEAR-CHANGE: 1.9%)
12.
ROBERT KRAFT
Team: New England Patriots, New England Revolution
Source of Wealth: New England Patriots
Net Worth: $10.6 Billion (1-YEAR-CHANGE: 27.7%)
13.
ROCCO COMMISSO
Team: AFC Fiorentina
Source of Wealth; Telecommunications
Net Worth: $7.7 Billion (-8.3%)
13.
TILMAN FERTITTA
Team: Houston Rockets
Source of Wealth: Houston Rockets, Entertainment
Net Worth: $7.7 Billion (1-YEAR-CHANGE: 22.2%)
15.
ARTHUR BLANK
Team: Atlanta Falcons, Atlanta United
Source of Wealth: Home Depot
Net Worth; $7.6 Billion (1-YEAR-CHANGE: 5.6%)
16.
TERRENCE PEGULA
Team: Buffalo Bills, Buffalo Sabres
Source of Wealth: Natural Gas
Net Worth: $6.7 Billion (1-YEAR-CHANGE: 17.5%)
16.
HENRY SAMUELI
Team: Anaheim Ducks
Source of Wealth: Semiconductors
Net Worth: $6.7 Billion (1-YEAR-CHANGE: 1.5%)
18.
DAVID BONDERMAN
Team: Seattle Kraken
Source of Wealth: Private Equity
Net Worth: $6.5 Billion (1-YEAR-CHANGE: 44.4%)
19.
STEPHEN BISCIOTTI
Team: Baltimore Ravens
Source of Wealth: Staffing, Baltimore Ravens
Net Worth: $6.4 Billion (1-YEAR-CHANGE: 12.3%)
19.
TED LERNER & FAMILY
Team: Washington Nationals
Source of Wealth: Real Estate
Net Worth: $6.4 Billion (1-YEAR-CHANGE: 36.2%)
19.
EDWARD ROSKI
Team: Los Angeles Kings
Source of Wealth: Real Estate
Net Worth: $6.4 Billion (1-YEAR-CHANGE: 4.9%)
22.
TOM GORES
Team: Detroit Pistons
Source of Wealth: Private Equity
Net Worth: $6.1 Billion (1-YEAR-CHANGE: 3.4%)
23.
ANTONY RESSLER
Team: Atlanta Hawks
Source of Wealth: Finance
Net Worth: $5.8 Billion (-6.5%)
24.
JOSHUA HARRIS
Team: Philadelphia 76ers, New Jersey Devils, Crystal Palace
Source of Wealth: Private Equity
Net Worth: $5.7 Billion (1-YEAR-CHANGE: 0%)
25.
MICKY ARISON
Team: Miami Heat
Source of Wealth: Carnival Cruises
Net Worth: $5.5 Billion (1-YEAR-CHANGE: -17.9%)
25.
WESLEY EDENS
Team: Milwaukee Bucks, Aston Villa
Source of Wealth: Investments
Net Worth: $5.5 Billion (Returnee)
27.
TODD BOEHLY
Team: Chelsea F.C.
Source of Wealth: Finance
Net Worth: $5.3 Billion (New)
28.
DAN FRIEDKIN
Team: A.S. Roma
Source of Wealth: Toyota Dealerships
Net Worth: $5.2 Billion (1-YEAR-CHANGE: 18.2%)
28.
MARK WALTER
Team: Los Angeles Dodgers
Source of Wealth: Finance
Net Worth: $5.2 Billion (1-YEAR-CHANGE: -3.7%)
30.
DENISE YORK & FAMILY
Team: San Francisco 49ers
Source of Wealth: San Francisco 49ers
Net Worth: $5.1 Billion (1-YEAR-CHANGE: 27.5%)
31.
JIMMY HASLAM
Team: Cleveland Browns, Columbus Crew
Source of Wealth: Gas stations, retail
Net Worth: $5 Billion (1-YEAR-CHANGE: 35.1%)
31.
CHARLES B. JOHNSON
Team: San Francisco Giants
Source of Wealth: Money management
Net Worth: $5 Billion (1-YEAR-CHANGE: -10.7%)
31.
JOE MANSUETO
Team: Chicago Fire FC
Source of Wealth: Investment research
Net Worth: $5 Billion (1-YEAR-CHANGE: -16.7%)
31.
JANICE McNAIR
Team: Houston Texans
Source of Wealth: Energy, sports
Net Worth: $5 Billion (19%)
35.
DAN SNYDER
Team: Washington Commanders
Source of Wealth: Washington Commanders
Net Worth: $4.9 Billion (1-YEAR-CHANGE: 22.5%)
36.
CHARLES DOLAN & FAMILY
Team: New York Knicks, New York Rangers
Source of Wealth: Cable television
Net Worth: $4.8 Billion (1-YEAR-CHANGE: -14.3%)
37.
GAYLE BENSON
Team: New Orleans Saints, New Orleans Pelicans
Source of Wealth: Pro sports teams
Net Worth: $4.7 Billion (1-YEAR-CHANGE: 23.7%)
38.
MARK CUBAN
Team: Dallas Mavericks
Source of Wealth: online media, Dallas Mavericks
Net Worth: $4.6 Billion (1-YEAR-CHANGE: 2.2%)
39.
JEFFREY LURIE
Team: Philadelphia Eagles
Source of Wealth: Philadelphia Eagles
Net Worth: $4.4 Billion (1-YEAR-CHANGE: 25.7%)
40.
MARIAN ILITCH
Team: Detroit Red Wings, Detroit Tigers
Source of Wealth: Little Caesars Pizza
Net Worth: $4.3 Billion (1-YEAR-CHANGE: -2.3%)
41.
ARTURO MORENO
Team: Los Angeles Angels of Anaheim
Source of Wealth: Billboards, Angels
Net Worth: $4.1 Billion (1-YEAR-CHANGE: 13.9%)
42.
JOHN HENRY
Team: Boston Red Sox, Liverpool F.C., Roush Fenway Racing
Source of Wealth: Sports
Net Worth: $4 Billion (1-YEAR-CHANGE: 11.1%)
42.
JEREMY JACOBS SR & FAMILY
Team: Boston Bruins
Source of Wealth: Food Service
Net Worth: $4 Billion (1-YEAR-CHANGE: 33.3%)
44.
J. JOE RICKETTS & FAMILY
Team: Chicago Cubs
Source of Wealth: TD Ameritrade
Net Worth: $3.9 Billion (1-YEAR-CHANGE: -4.9%)
45.
VINCENT VIOLA
Team: Florida Panthers
Source of Wealth: Electronic trading
Net Worth: $3.6 Billion (1-YEAR-CHANGE: 0%)
46.
JAMES IRSAY
Team: Indianapolis Colts
Source of Wealth: Indianapolis Colts
Net Worth: $3.4 Billion (1-YEAR-CHANGE: -2.9%)
46.
ROBERT “WOODY” JOHNSON
Team: New York Jets
Source of Wealth: Johnson & Johnson, sports
Net Worth: $3.4 Billion (New)
46.
JOHN MIDDLETON
Team: Philadelphia Phillies
Source of Wealth: Tobacco
Net Worth: $3.4 Billion (1-YEAR-CHANGE: 0%)
49.
HERB SIMON
Team: Indiana Pacers, Indiana Fever
Source of Wealth: Real Estate
Net Worth: $3.2 Billion (1-YEAR-CHANGE: -5.9%)
50.
ROGER PENSKE
Team: Team Penske
Source of Wealth: Cars
Net Worth: $2.7 Billion (N/A)
SEE THE FULL 2022 FORBES 400 LIST
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