It’s no secret that the NBA is the most successful professional men’s basketball league in the world. The best players from around the world play in it and make a lot of money. This attracts big business owners who also happen to be either multimillionaires or billionaires. The owners come from all walks of life and own different businesses such as real estate, beauty products, investments, etc. To them, owning an NBA team is seen as owning an enterprise. Just like an enterprise makes or loses money, the NBA team owners also either make profits or losses. These all depend upon the decisions they make regarding their basketball team. They make decisions such as who they want as their general manager, coach, and players. They also decide how much money each employee receives. They all want their teams to generate more revenue by winning games and eventually an NBA championship.
All 30 NBA owners or ownership groups are successful in their own right in their business field but in order to make the top 10 of the richest NBA owners, they had to be a billionaire. This top 10 list includes owners who currently don’t have a good team but still make a lot of money to make the list. Some of the billionaires listed are famous for either causing trouble with the league head office or controversial in handling of their teams. Some of the billionaires have had more success recently with their NBA team than their business. Listed below are the richest NBA owners with their current net worth along with an introduction of the owner and their business.
10 Mark Cuban, Dallas Mavericks - Net worth: $2.7 billion
Mark Cuban is one of the most famous owners in all of sports. He is a self-made online media billionaire who made his fortune selling video portal Broadcast.com to Yahoo! for $5.7 billion in 1999. Mark Cuban and his longtime business partner Todd Wagner invested in many ventures after the Yahoo! deal. He is the co-owner of 2929 Entertainment, the chairman of AXS TV and owner of Landmark Theatres.
9 Tom Gores, Detroit Pistons - Net worth: $3 billion
8 Charles Dolan & Family, New York Knicks - Net worth: $4.1 billion
7 Daniel Gilbert, Cleveland Cavaliers - Net worth: $ 4.4 billion
Daniel Gilbert is a self-made online direct mortgage lender billionaire. He is the chairman and founder of Rock Ventures and Quicken Loans Inc. Gilbert founded Rock Financial in 1985 to sell mortgages online alongside his business partners. The company grew quickly and by the 90s had become the largest and fastest growing direct mortgage lenders online. In the 2000s, Rock Financial was bought and renamed Quicken Loans. Gilbert was still a part of the company and in 2002, he and a group of private investors bought out the company and he is the chairman to this day.
6 Stanley Kroenke, Denver Nuggets - Net worth: $5.8 billion
Stanley Kroenke is a self-made real estate and sports billionaire. He is the owner of Kroenke Sports Enterprises which include the Denver Nuggets, the NHL’s Colorado Avalanche, MLS Colorado Rapids, NLL Colorado Mammoth and the NFL’s St. Louis Rams. He is also the largest shareholder of the English club Arsenal. Stanley Kroenke got his start in real estate when he founded the Kroenke group in 1983. The firm built various shopping centers and apartment buildings. He is also the chairman of THF Realty which is an independent real estate company that deals with suburban development.
5 Richard DeVos, Orlando Magic - Net worth: $ 6.4 billion
4 Micky Arison, Miami Heat - Net worth: $7.1 billion
3 Mikhail Prokhorov, Brooklyn Nets - Net worth: $ 9.2 billion
2 Paul Allen, Portland Trail Blazers - Net worth: $17.1 billion
1 Steve Ballmer, L.A. Clippers - Net worth: $22.4 billion
Steve Ballmer is one of the world’s richest people and was the CEO of Microsoft from January 2000 to February 2014. Not only is he a world billionaire but he is the richest billionaire out of all of 30 NBA owners and ownership groups. Steve Ballmer worked at Microsoft for over 20 years and headed several Microsoft divisions including operations, operating systems development, as well as sales and support.
After he left Microsoft, the shares he possessed kept rising and in April 2014 he became the largest single shareholder. The L.A. Clippers were for sale as their previous owner Donald Sterling was removed due to racist comments and remarks he made during an audio recording. In August 2014, Steve Ballmer was the highest bidder among several investors for the team and paid $2 billion for the team. This made it the highest sold price ever for an NBA team. Steve Ballmer officially became the Clippers' new owner on August 12th, 2014.
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