MoneyINC Logo
25+
Years of
Trust
13,000+
Articles
Written 
10M+
Annual 
Readers
300+
Global
Mentions

Robert Sarver Net Worth: Unveiling the Wealth of the NBA Team Owner

Robert Sarver

Robert Sarver is a notable figure in the sports and business world, garnering attention for his substantial net worth. As an American businessman and sports team owner, Sarver has amassed a fortune that is currently estimated to be around $800 million. His wealth can be attributed to his achievements in various sectors, which include banking and real estate, as well as his ownership of sports teams.

Born on October 31, 1961, Robert Gary Sarver co-founded Southwest Value Partners, a successful real estate development company. In addition to his accomplishments in business, he has achieved recognition as the owner of the RCD Mallorca La Liga Spanish football team and previously owned the NBA's Phoenix Suns and the WNBA's Phoenix Mercury. Sarver's diverse investments and ventures have significantly contributed to his net worth, making him a prominent figure in the realm of sports and business.

Robert Sarver: Early Life and Career

Sarver was born on October 31, 1961, in Tucson, Arizona. He graduated from the University of Arizona in 1982 with a degree in business administration. In 1983, Sarver became a certified public accountant, marking the beginning of his professional career.

During the early years of his career, Sarver gained experience in various financial institutions. In 1986, he joined the California-based Grossmont Bank as its CEO. Under his leadership, the bank's assets grew significantly, and it was eventually acquired by Wells Fargo in 1993.

Sarver's success in the banking industry led him to establish Southwest Value Partners, a real estate development company, which he co-founded in 1990. The company focuses primarily on investing in commercial properties across diverse markets in the United States.

Phoenix Suns Ownership

He bought the Suns in 2004 for $401 million, and under his ownership, the team has seen various levels of success. The Suns' value has significantly increased over the years, reaching an estimated $1.8 billion according to Forbes' most recent valuation of NBA franchises.

During Sarver's tenure, the Phoenix Suns have had their ups and downs. Despite making it to the NBA Finals in the 2020-2021 season and having an impressive roster, the Suns fell short of securing a championship title. However, their performance during that season demonstrated their growth and improvement as a team, showcasing the potential for future success.

As the owner of the Suns, Sarver has been involved in key decisions and managerial appointments that have shaped the team's trajectory. Most notably, he was instrumental in hiring Monty Williams as the head coach in 2019. Under Williams' guidance, the team has shown significant improvement, making it to the NBA Finals for the first time since 1993.

Phoenix Mercury Ownership

The Phoenix Mercury is a professional women's basketball team that competes in the WNBA. Since Sarver's acquisition of the team, it has enjoyed a number of successful seasons, including winning three championships. This has undoubtedly added value to the franchise and contributed to Sarver's overall net worth.

In recent years, there have been some allegations against Robert Sarver, which led him to announce his intentions to sell the Phoenix Suns and Mercury

Business Endeavors

As a co-founder of Southwest Value Partners, a real estate company, Sarver has made a significant impact in the property market, employing his keen business sense to capitalize on profitable opportunities.

In addition to his real estate pursuits, Sarver played a critical role in the banking industry. He had a hand in founding National Bank of Arizona, which grew under his leadership and merged with Western Alliance Bancorporation. Presently, Sarver serves as the Executive Chairman of Western Alliance Bancorporation, a conglomerate that has enjoyed considerable success in the financial sector.

His love for sports transcends borders, as evidenced by his ownership of Real Club Deportivo Mallorca, a Spanish football club in the Segunda División.

Net Worth and Valuation

An essential factor contributing to the Suns' valuation is the Footprint Center, the team's home arena. This multipurpose facility not only hosts NBA games but also serves as a venue for concerts and other events. The Footprint Center's value further enhances the overall valuation of the Suns franchise.

Controversies and Investigations

Sarver has faced multiple controversies and investigations throughout his tenure. One such investigation was initiated due to allegations of racism, misogyny, and bullying within the organization. The independent investigation was conducted by an outside law firm and included interviews with over 70 current and former Suns employees.

As a result of the investigation, the NBA issued a historic fine and suspension against Sarver. He received a one-year suspension and a fine of $10 million. The allegations against him included using the N-word in front of employees, making sexist comments towards female staff members, and creating a hostile work environment.

Sarver's behavior has not only affected the Phoenix Suns organization but also extended to the community. The NBA requires team owners to adhere to high standards of conduct and discipline, as they play a public role and have an impact on society. The repercussions of the investigation and the resulting sanctions have raised questions about Sarver's future in the NBA.

Family and Personal Life

He is married to Penny Sanders, and together they have three sons. The family currently resides in Paradise Valley, Arizona, where they enjoy a comfortable and private life. The Sarver family has always valued maintaining a low-key profile, focusing on their private lives and relationships. Despite their success and wealth, they continue to prioritize creating a loving and supportive environment for themselves and their growing children.

You can also read:

Allen Lee

Written by Allen Lee

Allen Lee is a Toronto-based freelance writer who studied business in school but has since turned to other pursuits. He spends more time than is perhaps wise with his eyes fixed on a screen either reading history books, keeping up with international news, or playing the latest releases on the Steam platform, which serve as the subject matter for much of his writing output. Currently, Lee is practicing the smidgen of Chinese that he picked up while visiting the Chinese mainland in hopes of someday being able to read certain historical texts in their original language.

Read more posts by Allen Lee

Related Articles

Stay ahead of the curve with our most recent guides and articles on , freshly curated by our diligent editorial team for your immediate perusal.
As featured on:

Wealth Insight!
Subscribe to our Exclusive Newsletter

Dive into the world of wealth and extravagance with Money Inc! Discover stock tips, businesses, luxury items, and travel experiences curated for the affluent observer.
linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram