America’s Richest Sports Team Owners On The 2024 Forbes 400

Forbes

The top 20 owners on The Forbes 400 have seen their combined fortunes rise by $122 billion over the past year and are now worth more than half a trillion dollars.  The Forbes 400 is our annual ranking of the richest Americans. Our estimates are a snapshot of each members wealth as of September 1, 2024.   Read the full story on Forbes: https://www.forbes.com/sites/justinbirnbaum/2024/09/28/americas-richest-sports-team-owners-2024/  Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1  Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:  https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript  Stay Connected Forbes newsletters: https://newsletters.editorial.forbes.com Forbes on Facebook: http://fb.com/forbes Forbes Video on Twitter: http://www.twitter.com/forbes Forbes Video on Instagram: http://instagram.com/forbes More From Forbes:  http://forbes.com  Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.

Transcript

00:00Since 1998, when Forbes began tracking NBA team values, franchises have appreciated roughly

00:062,200% on average, and they're poised to keep growing.

00:11In June, the NBA more than doubled its national media rights fees with a new set of agreements

00:17that will take effect in 2025 and are reportedly worth $76 billion over 11 years.

00:24That kind of return and similar figures in other major sports leagues, including roughly

00:29a 1,700% appreciation in NFL teams over the same period, helps explain why team ownership

00:36has become an increasingly popular investment for the few who can afford it.

00:41The 20 richest owners from that group, perhaps the most exclusive club in sports, are now

00:45worth a combined $504 billion, according to Forbes' estimates as of September 1st,

00:52a 32% increase from a year ago.

00:55Their collective holdings include controlling stakes in 10 teams from the NBA, 8 from the

01:00NFL, 5 from professional soccer, including MLS and major European clubs, 3 from the NHL,

01:072 from MLB, and 1 each from the WNBA and Women's Super League.

01:13Here are the 5 richest sports team owners on the 2024 Forbes 400.

01:20Number 5 is a tie.

01:22First, David Tepper.

01:24Since Tepper bought the Panthers for $2.3 billion in 2018, Carolina has failed to record

01:30a winning season and has gone through seven head coaches.

01:34Tepper, 67, has had better luck in MLS, where Charlotte FC is in line for a playoff spot

01:40heading into the final month of the season.

01:43Steve Cohen.

01:45After an unexpected midseason turnaround secured the Mets a postseason appearance, the 68-year-old

01:51is pressing forward with his aspirations to bring a casino to Flushing, Queens.

01:56In September, he unveiled renderings of Metropolitan Park, a 50-acre development that would also

02:02feature parks, restaurants, and shopping around Citi Field.

02:07Number 4, Miriam Adelson.

02:10Adelson's first season in Dallas nearly had a storybook ending as her Mavericks marched

02:14through the Western Conference straight to the NBA Finals, only to come up short against

02:19the Boston Celtics.

02:20The franchise's future remains bright behind superstar guard Luka Doncic, but her family's

02:26aspirations extend beyond the court.

02:29The 78-year-old Adelson has been an advocate for legalized gambling in Texas, and the purchase

02:34of an additional piece of land near the Mavericks' home arena suggests a casino could be on the

02:39horizon in Dallas.

02:41Number 3, Dan Gilbert.

02:44Gilbert's Cavaliers are in the midst of their best stretch since LeBron James took his talents

02:49to Los Angeles following the 2017-2018 season.

02:53However, the 62-year-old Gilbert's rocket companies may have one-upped his basketball

02:58team.

02:59The publicly traded mortgage and financial services business has seen its share price

03:03climb roughly 170% since last October.

03:08At number 2, Rob Walton and family.

03:11When Walton bought the Broncos in 2022 for $4.65 billion, at the time a record price

03:17for his sports team, it was widely seen as an overpay.

03:21Less than a year earlier, Forbes had valued Denver at $3.75 billion, and a person familiar

03:27with the negotiations told Forbes that no other bid had secured financing within $400

03:33million of Walton.

03:35Now every NFL team is worth at least $4 billion, and the Broncos are up to $5.5 billion while

03:41ranking as one of the world's most profitable sports teams.

03:45As his team ramps up, Walton, who will turn 80 in October, is winding down.

03:50He turned over control of the Broncos to his son-in-law, Greg Penner, last October and

03:55stepped down as chairman of Walmart's board in June.

03:59At number 1, Steve Ballmer.

04:02With the Clippers scheduled to host the Phoenix Suns on October 23rd in their first regular

04:06season game at the Intuit Dome, Ballmer has delivered on his promise to build his team

04:11its own arena.

04:13Ballmer spent over a quarter-century in downtown Los Angeles as a co-tenant with the Lakers.

04:17The process hasn't been without its challenges.

04:20In August, a tech issue at the building's entrances delayed the start of the venue's

04:25inaugural event, a Bruno Mars concert, by nearly two hours, and the construction cost

04:30$2 billion.

04:31That is hardly enough to damp Ballmer's fortune, however.

04:35He now ranks even higher on the Forbes 400 than Microsoft co-founder Bill Gates, his

04:40former boss and mentor.

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