NBA is the most popular professional league in the world. The popularity of this league has led to NBA franchises worth billions. This has made teams expensive to own, requiring one to be insanely wealthy. In addition, coaches and players receive much credit when a team performs since they are responsible for the success or failure of a team. However, the team owners need to be given credit because success is impossible without proper management and financing. Good examples of successful franchises include Boston Celtics and Los Angeles. Therefore ownership plays a critical role in the success of a team. Here are the 20 Richest NBA Owners in 2022.
20. Michael Jordan (Charlotte Hornets) N.W $1.6 Billion
MJ is a basketball superstar who has won six championships. Jordan is a global icon and considered a G.O.A.T in the game. No NBA player has managed to surpass Jordan's success in NBA. Jordan became a majority owner of the Charlotte Hornets when he bought a stake of $275 million USD in 2010. It was his dream to be an NBA owner one day after having a successful career as a professional basketball player. Additionally, Jordan might be the missing piece; this franchise needs to be title contenders and win championships.
19. Jerry Reinsdorf (Chicago Bulls) N.W $1.7 Billion
Jerry was a tax attorney. He made wealth by purchasing sports teams and allowing the value of the team to increase over time. In 1981 Jerry and his group of investors purchased the baseball team of the Chicago White Sox for $19 million USD. In 1985 Jerry bought the Chicago Bulls for $9.2 million USD. After one year, the franchise drafted the king of the NBA, MJ. The Chicago Bulls have won six championships in three decades. This has increased the franchise's worth to $2 billion USD. Jerry has played a vital role in the success of the Chicago Bulls.
18. Marc Lasry (Milwaukee Bucks) N.W $1.8 Billion
Marc Lasry started Avenue Capital Management together with his sister in 1995. The Company currently manages more than $10 billion assets by focusing on distressed companies and undervalued assets. Additionally, Marc was born in Morocco but moved to the US and managed to create wealth. Marc bought Milwaukee Bucks in 2014. The franchise boast of having the popular star Giannis Antetokoumpo. In addition, Marc made money through investment groups and hedge funds. Only a few people can make money in such a way. It requires discipline and patience.
17. James Dolan (New York Knicks) N.W $2.0 Billion
James Dolan has a worth of more than $2 billion USD. The Dolan family started Cablevision, which became a multi-million business. James inherited this business and wealth from his father. According to Men Journal, James became an owner of the New York Knicks in 1999. However, the New York Knicks have not had a good run since 1999. James has been running this franchise with an iron fist. It is also known he does not take criticism lightly, and he is open to new ideas. Moreover, this franchise will take time before it regains its lost glory.
16. Glen Taylor (Minnesota Timberwolves) N.W $2.4 Billion
Glen Taylor spent the most money purchasing a wedding service business for $2 million USD in 1975. Later he turned it into Taylor Corp( a printing company). The company has made more than $2 billion in sales. Additionally, Glens has farmland in Lowa and Minnesota. He owns the Minnesota Timberwolves; however, it has not been a walk in the park. Ever since the days of Kevin Garnett. The franchise plans to sell some stakes to bring in some extra financial muscle. This is meant to boost and gear the team for a championship title.
15. Herb Simon (Indiana Pacers) N.W $3.4 Billion
He is a founder of the Simon Property Group. Herb Simon has made the company grow over the years to a profitable massive company. This company has more than 200 properties worldwide. However, most of them are found in the US. In 1983 Herb and his bother Melvin bought the Indiana Pacers. Their investment grew, and currently, the pacers are valued a $1 billion. It has some elite players such as Paul George, Jermaine O'Neal, and Reggie Miller. Under Simon's ownership, the team has hope it will develop the next elite for the franchise.
14. Gayle Benson (New Orleans Pelicans) N.W $3.8 Billion
Gayle Benson is a widow who owns the New Orleans Pelicans and New Orleans Saints in NFL. She became the owner of these franchises after Tom Benson died in 2018. Furthermore, Gayle is involved in a dispute with her daughter for controlling these two franchises. Gayle is an interior designer and showcased her entrepreneurial skills by starting a GMB racing. It is a horse racing company that began in 2014. Moreover, Tom and Gayle were married for fourteen years before Tom died.
13. Mark Cuban (Dallas Mavericks) N.W $4.5 Billion
Mark is the most popular NBA owner. He is a charismatic and outspoken billionaire. He made billions by developing a video platform called Broadcast.com and selling it to Yahoo at $5.7 billion in 1999.
According to Marca, mark bought Dallas Mavericks in 2000. Mark has been seen in Mavericks games. He also looks for ways he can improve players. Additionally, he owns Luminaid, a company that gives lightning support in areas experiencing a disaster.
12. Richard DeVos (Orlando Magic) N.W $5.4 Billion
He is the owner of giant Amway. He began his journey of selling multipurpose cleaners back in high school. This is where he learned about sales. He became a billionaire without finishing university. In 1991 Richard bought the Orlando Magic. It was the time Shaquille was having his first season. For the following three decades, the team had elite stars competing the team. They included O'Neal, Tracy McGrady, Dwight Howard, and Penny Hardaway. In 2018 Richard died, leaving the Orlando Magic franchise to his family.
11. Tilman Fertita (Houston Rockets) N.W $5.6 Billion
Tilman knew from the beginning he would use his past experiences to succeed. He used to work at his father’s seafood restaurant. Tilman now owns a chain of restaurants in Texas. They include Landry’s Seafood House, Bubba Gump Shrimp, and Saltgrass Steakhouse. Tilman is involved in the entertainment industry and owns the Golden Nugget Casinos. In 2017 he purchased the Houston Rockets. He intends to make the team an NBA champion and a title contender. Moreover, he plans to make Houston Rockets his hometown team.
10. Antony Ressler (Atlanta Hawks) N.W $5.7 Billion
Ressler owns the Atlanta Hawks, and also, in 1990, he founded Apollo Global Management. In the same year, he founded Ares Management. Furthermore, Ressler has a bachelor's and a master’s degree from Colombia University. He bought the Atlanta Hawks in 2015. The Atlanta Hawks are the most promising team in NBA. The value of this team has increased over time since Ressler bought it. Additionally, Ressler has a small stake in the baseball team known as the Milwaukee Brewers.
9. Joshua Harris (Philadelphia 76ers) N.W $5.7 Billion
Joshua Harris, Leon Black, and Marc were Apollo Global Management firm founders in 1990. Harris still oversees the operation of this firm which has over $400 billion USD. According to Forbes, Joshua Harris bought in Philadelphia 76ers in 2011. Joshua Harris has made the 76 ers increase in market value over recent years. He also has a master’s degree that has helped him position himself and understand the sports business. Additionally, Joshua Harris has a stake in Crystal Palace FC and NFL’s Pittsburgh Steelers.
8. Tom Gores (Detroit Pistons) N.W $5.9 Billion
Tom Gores migrated to the United States when he was four years from Israel. Tom's wealth comes from owning over forty companies. Furthermore, he has over $26 billion USD of assets in a Platinum Equity and equity firm. Tom has been buying out businesses and making them profitable. In 2011 Platinum Equity and Gores bought Detroit Pistons. They have 100% ownership and intend to make it profitable. Additionally, Gores built a new headquarters and training center for the team.
7. Micky Arison (Miami Heats) N.W $6.2 Billion
Micky Arison runs the Carnival Corporation, the world's biggest cruise ship company. He was born in Israel and moved to the US with his father. His father founded the Corporation Corp, which Micky took over and built a fleet of more than 100 ships. Mickey purchased the Miami Heats in 1995. The Miami Heat has had great success after being bought by Mickey. It has won three championships and hosted the iconic star competition. The competition involved Shaquille O’ Neal, LeBron James, and Dwayne Wade.
6. Joseph Tsai (Brooklyn Nets) N.W $8.4 Billion
Joseph is the co-founder and vice-chairman of Alibaba Group. Tsai's money comes from the popular business group whose chairman is Jack Ma. In addition, Joseph is a Canadian whose origin is Taiwan and has great business prowess. Joseph bought a 49% stake in 2018, and later in 2019, he bought the remaining 51% stake. Joseph has two degrees and is known for scoping and building companies from nothing. The Brooklyn Nets have high prospects of winning the championships in the coming years.
5. Ann Walton Kroenke (Denver Nuggets) N.W $9.1 Billion
Ann Walton is the heiress of the Walmart fortune and the wife of billionaire Stanley Kroenke. Stanley Kroenke is involved in sporting teams because he has the finances. According to Football, he is owner of Arsenal FC. Additionally, he also owns the Los Angeles Rams and the MLS Colorado Rapids. Kroenke's name is popular with various sports teams and pieces of land worldwide. Ann Kroenke owns the Denver Nuggets and NHL's Colorado Avalanche. Moreover, the Kroenke family owns ranches and real estate in Canada and America.
4. Robert Pera (Grizzlies Memphis) N.W $14.4 Billion
Robert Pera has an excellent franchise. It also boasts of having Ja Morant, a great point guard. Pera is also a wealthy man and founded the Ubiquiti Networks. It is a wireless equipment maker. Additionally, Ubiquiti Networks recorded over $1.2 billion USD in revenue in 2021. Robert Pera is an electrical engineer who worked at Apple and later founded Ubiquiti Networks 10 months after working at Apple. He owns 75% of Ubiquiti Networks and is the youngest billionaire worldwide.
3. Jody Allen (Portland Trail Blazers) N.W $20.3 Billion
Paul Allen died in 2018 and is popular for co-founding Microsoft with Bill Gates. He was Bill Gates's best friend and the most intelligent person. He got a perfect score of 1600 on SAT and convinced Bill Gates to drop out of Harvard. Furthermore, designing computers that revolutionized how the world operates is not easy. Paul bought Portland Trail Blazers at $70 million USD in 1998. However, the value of the team has increased over time in recent decades. After his death, the franchise ownership went to his sister Jody Allen. She took charge of other properties apart from the Trail Blazers, which include the NFL Seattle Seahawks.
2. Daniel Gilbert (Cavaliers Cleveland) N.W $22 Billion
Dan Gilbert is a popular owner of the NBA teams. He is also a great friend to the legend LeBron James. Gilbert is not a likable character; however, you cannot fail to acknowledge his success as a team owner and a smart businessman. Additionally, he made sure LeBron was drafted number one and built a contender who has won titles. Dan Gilbert is among the richest owners of NBA teams, with over $30 billion net worth. He accomplished such wealth by founding a firm known as Quickens Loans. Moreover, it is the biggest and most profitable mortgage lending firm worldwide.
1. Steve Ballmer (Los Angeles Clippers) N.W $100 Billion
Steve Ballmer is the former Microsoft CEO and one of the richest people in the world. Ballmer bought Clippers in 2014. This brought a new era to the team of title contention and a burning desire to win titles. In addition, Ballmer likes attending Clipper's NBA games and following up on their season's progress. Ballmer's money comes tech industry. He brought his entrepreneurial spirit and smartness to Clippers which has seen it rise. In addition, under the ownership of Ballmer, Clippers have increased in value up to $600 million. Making this is another money-making avenue for this rich owner.
Written by Allen Lee
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