The top 20 owners on The Forbes 400 have seen their combined fortunes rise by $122 billion over the past year, now totaling more than half a trillion dollars. This increase in wealth is largely attributed to the growing value of sports team ownership, with franchises appreciating roughly 2,200% in the NBA and 1,700% in the NFL since 1998. The recent surge in sports team valuations, combined with robust public market performances, has made team ownership an increasingly popular investment for billionaires.
On The Forbes 400 list, 54 billionaires are the controlling owners of sports teams in major pro leagues, with 14 in the NBA alone. The 20 richest owners from this group are now worth a combined $504 billion, a 32% increase from the previous year. Their holdings include teams from the NBA, NFL, MLS, NHL, MLB, WNBA, and Women’s Super League, reflecting the diverse interests and investments of these wealthy individuals.
Former Microsoft CEO Steve Ballmer remains the richest sports team owner in America, with a net worth of $123 billion. He purchased the Los Angeles Clippers for $2 billion in 2014, and the value of the team has more than doubled since then. Other notable owners include Walmart heir Rob Walton, Cleveland Cavaliers owner Dan Gilbert, and Mat Ishbia, owner of the Phoenix Suns and CEO of United Wholesale Mortgage. Ishbia was the biggest gainer among this year’s sports owners, with his net worth nearly doubling to $13.1 billion.
The bar to entry for the top 20 richest sports owners has reached new heights, with a fortune of at least $9.3 billion required to make the list. Miriam Adelson, the only owner in the top 20 whose fortune declined over the past year, recently purchased the Dallas Mavericks for $3.5 billion. Despite her decrease in wealth, she remains one of the wealthiest sports owners in America, highlighting the competitive nature of this exclusive club.
Other notable owners include New York Mets owner Steve Cohen, Carolina Panthers/Charlotte FC owner David Tepper, and Miami Dolphins owner Stephen Ross. Each owner brings a unique background and source of wealth to their sports team ownership, with interests ranging from real estate to energy to manufacturing. The success and profitability of these sports teams contribute to the continued growth of their owners’ fortunes and solidify their positions among America’s wealthiest individuals.
Overall, the trend of billionaires investing in sports teams shows no signs of slowing down, with ownership in major leagues offering substantial returns and financial benefits. As sports franchises continue to appreciate in value and generate revenue through various sources, owning a team remains a coveted status symbol for the ultra-wealthy. With the top 20 sports team owners collectively worth over half a trillion dollars, the influence of these individuals in the world of sports and beyond is undeniable.
