The sports activities workforce house owners on the brand new Forbes 400 checklist are price a mixed $392 billion, up 42% over the previous yr.
Owning knowledgeable sports activities workforce within the U.S. has confirmed to be a stable funding, and this previous yr was no exception. However for lots of the billionaire sports activities workforce house owners on the newly launched 2021 Forbes 400 checklist of richest People, giant will increase of their fortunes have come from investments exterior of sports activities. The mixed fortune of the 44 Forbes 400 members who personal controlling stakes in main sports activities groups is up a staggering 42%, to $392.4 billion, over the previous yr.
Steve Ballmer leads the way in which because the richest workforce proprietor for the seventh straight yr, with a web price of $96.5 billion, up $27.5 billion from a yr in the past. A former Microsoft govt who led the corporate as CEO from 2000 to 2014, Ballmer nonetheless owns a stake within the tech big, shares of which rose 33% within the final yr. The identical yr he retired, he bought the Los Angeles Clippers for $2 billion. The workforce is price $2.75 billion at present, in keeping with Forbes. Ballmer ranks tenth total on The Forbes 400.
One other huge gainer this yr is Dan Gilbert, the billionaire mortgage tycoon and proprietor of the NBA’s Cleveland Cavaliers. He’s price an estimated $30.9 billion, up $23.4 billion from a yr in the past, which strikes him from the eighth to the second spot on the checklist of richest sports activities workforce house owners. Now the most important mortgage lender in america, Gilbert’s Quicken Loans went public as Rocket Corporations at an enormous $36 billion valuation in August 2020, catapulting Gilbert up the ranks of the world’s richest billionaires.
Following him is Robert Pera, with a web price of $19 billion. He paid $377 million for the NBA’s Memphis Grizzlies in 2012; Right this moment, the workforce is price $1.3 billion, in keeping with Forbes’ estimates. Pera is founder and CEO of wi-fi tools maker Ubiquiti Networks—and far of his wealth comes from his 75% stake within the publicly-traded firm.
Rounding out the highest 5 richest sports activities workforce house owners are two billionaires who made their fortunes within the hedge fund business: Steve Cohen and David Tepper, price $16 billion and $15.8 billion, respectively. In October 2020, Cohen completed his purchase of the New York Mets baseball workforce for $2.4 billion. Tepper, in the meantime, purchased the NFL’s Carolina Panthers for $2.3 billion in 2018; The workforce is now price $2.9 billion, in keeping with Forbes’ estimates.