Life as a sports team owner ain't too bad. For one, just owning a team already means you're incredibly wealthy, and you have the chance to earn exponentially higher cash. You can win championships by helping craft a juggernaut, and you could potentially make hundreds of thousands of people happy.
Forbes recently released its list of the 400 richest Americans, and it features a few notable team owners. Naturally, that begs the question: just who are the richest owners in sports? The highest sportsman on the list is actually not an owner at all. Nike co-founder, Phil Knight, made the Top 20 for the first time in nearly two decades. He's the 17th richest American, worth $27.8 billion. A big chunk of that net worth comes from the insane rise in Nike's stock price – it's gone up nearly 47% in the past year. Knight may not own a team, but he's a huge booster for the University of Oregon, donating money and uniforms to the school. Naturally, he's got a big lead over Under Armour's Kevin Plank, who has a net worth of $3.9 billion; but if Under Armour continues to grow, that lead could shrink quickly.
The next two wealthiest owners couldn't be more different: David Thomson is a part owner of True North Sports & Entertainment, who owns the Winnipeg Jets, and has a net worth of $23.8 billion. That makes him the richest man in Canada! Thomson, whose family began the popular news agency Thomson Reuters, has barely ever given an interview and remains mostly a silent investor in the Jets. On the other end of the spectrum, even despite their monumental collapse last postseason, the Los Angeles Clippers didn't cost Steve Ballmer much of his investment in the team. Ballmer, energetic as ever, purchased the Clips for $2 billion last year, and still has a net worth of $23.2 billion. He ranks as the 21st wealthiest American.
Not far behind is Paul Allen, owner of the Seattle Seahawks and Portland Trailblazers and 26th wealthiest American, with a net worth of $17.9 billion. Allen co-founded Microsoft along with Bill Gates when he was fresh out of college, nearly becoming a billionaire in the process. Eight years later, he developed Hodgkin's disease in 1983, and started living large after that.
The Lakers, Mets and Steelers may soon lay full claim to some of the wealthiest Americans, too. Dr. Patrick Soon-Shiong (#35 on the list), who made his fortune via his NantWorks health empire, has a net worth of $12.4 billion. He's a minority owner in the Lakers, while hedge fund managers Steve Cohen (#37 and $12 billion) and David Tepper (#38 and $11.6 billion) are strong candidates to purchase majority stake in the Mets and Steelers, respectively. After these five, what other team owners made the list?
Basketball Team Owners
Mickey Arison, the owner of the Miami Heat, is tied for 60th on the list with a net worth of $7.7 billion. Following him is Rich DeVos of the Orlando Magic, who holds a net worth of $5.6 billion, ranking 84th. Charles Dolan, who owns the New York Knicks and New York Rangers, comes next at position 114 with $4.7 billion. Further down, we find Dan Gilbert, owner of the Cleveland Cavaliers, at rank 149 with a net worth of $3.8 billion. Mark Cuban, well-known for his role with the Dallas Mavericks, is at 211 with $3 billion.
Football Team Owners
In the world of football, Stan Kroenke, owner of the St. Louis Rams, ranks 63rd with a net worth of $7.6 billion. His wife, Ann Walton Kroenke, is a Wal-Mart heiress worth $4.5 billion herself and has controlling ownership of the Denver Nuggets and Colorado Avalanche. Stephen Ross, owner of the Miami Dolphins, is 71st with $6.7 billion. Following him is Shahid Khan of the Jacksonville Jaguars with a net worth of $5.6 billion, ranking 84th.
Baseball Team Owners
In baseball, Ted Lerner, owner of the Washington Nationals, is tied for 86th with $5.5 billion. Just behind him is Michael Ilitch, owner of the Detroit Tigers and Detroit Red Wings, who has a net worth of $5.4 billion, ranking 88th. John Henry, owner of the Boston Red Sox, and Mark Walter of the Los Angeles Dodgers are both tied at 307, with a net worth of $2.2 billion.
Hockey Team Owners
Finally, in hockey, Jeremy Jacobs, owner of the Boston Bruins, and Terry Pegula, who owns the Buffalo Sabres and Buffalo Bills, are both tied at 138th with a net worth of $4 billion each. These owners represent the upper echelon of sports ownership, showcasing the incredible wealth that comes with owning a franchise.
Conclusion
Sports team ownership is not just a gateway to wealth but also a pathway to influence and legacy. From Phil Knight's massive net worth driven by Nike's success to the diverse range of owners across basketball, football, baseball, and hockey, it is evident that owning a sports team is a lucrative venture. With each team having its unique stories and challenges, the world of sports ownership continues to captivate and inspire many.
