The NBA is not just a platform for athletic prowess; it’s also a significant business venture for team owners. As valuations of franchises soar, the wealth of these owners has reached staggering heights. Here’s a look at the top 10 richest team owners in the NBA, showcasing their net worth and the teams they own.
1. Steve Ballmer – Los Angeles Clippers
- Net Worth: $142 Billion
- Source of Wealth: Microsoft
- Overview: Steve Ballmer, the former CEO of Microsoft, purchased the Los Angeles Clippers in 2014 for $2 billion. His ownership has transformed the franchise’s value, which is now estimated at over $4 billion. Ballmer’s wealth has made him not only the richest owner in the NBA but also in all sports.
2. Dan Gilbert – Cleveland Cavaliers
- Net Worth: $25 Billion
- Source of Wealth: Quicken Loans
- Overview: Dan Gilbert is the founder of Rocket Mortgage and acquired the Cleveland Cavaliers in 2005 for $375 million. Under his ownership, the Cavaliers won their first NBA championship in 2016, significantly increasing the team’s value.
3. Stan Kroenke – Denver Nuggets
- Net Worth: $17.6 Billion
- Source of Wealth: Real Estate, Sports
- Overview: Stan Kroenke owns multiple sports franchises, including the Denver Nuggets and Los Angeles Rams. His diverse portfolio has solidified his status among the wealthiest team owners.
4. Micky Arison – Miami Heat
- Net Worth: $12.8 Billion
- Source of Wealth: Carnival Cruise Line
- Overview: Micky Arison has been at the helm of the Miami Heat since 1995. His leadership has seen the team achieve significant success, including multiple championships.
5. Tom Gores – Detroit Pistons
- Net Worth: $11.3 Billion
- Source of Wealth: Private Equity
- Overview: Tom Gores purchased the Detroit Pistons in 2011 for approximately $325 million. His focus on revitalizing the franchise has been evident through various strategic decisions.
6. Tilman Fertitta – Houston Rockets
- Net Worth: $11.2 Billion
- Source of Wealth: Hospitality and Entertainment
- Overview: Owner of Fertitta Entertainment and Landry’s Inc., Tilman Fertitta bought the Houston Rockets in 2017 for $2.2 billion, making a significant investment in one of the NBA’s storied franchises.
7. Tony Ressler – Atlanta Hawks
- Net Worth: $10.7 Billion
- Source of Wealth: Private Equity
- Overview: Tony Ressler co-founded Ares Management and became a majority owner of the Atlanta Hawks in 2015, bringing a wealth of experience to his leadership role.
8. Josh Harris – Philadelphia 76ers
- Net Worth: $10.1 Billion
- Source of Wealth: Private Equity
- Overview: Josh Harris co-founded Apollo Global Management and became part-owner of the Philadelphia 76ers in 2011. His financial acumen has been instrumental in shaping the team’s future.
9. Jimmy Haslam – Milwaukee Bucks
- Net Worth: $8.7 Billion
- Source of Wealth: Pilot Flying J
- Overview: Jimmy Haslam is not only an NFL owner but also a co-owner of the Milwaukee Bucks, having acquired a stake in the team recently to diversify his sports portfolio.
10. Robert Pera – Memphis Grizzlies
- Net Worth: $6.7 Billion
- Source of Wealth: Ubiquiti Networks
- Overview: Robert Pera purchased the Memphis Grizzlies in 2012 for around $377 million, focusing on building a competitive team while enhancing its community engagement.
Richest NBA Team Owners exemplify how sports ownership can be both a passion and a lucrative investment, with their fortunes reflecting not only their business acumen but also their commitment to their respective franchises. The NBA continues to grow in popularity and value, making these owners key players in an ever-evolving landscape.