There is no doubt that the players are at the heart of the NBA with their electrifying points and breathtaking performances. However, behind the scenes, it is usually the owners who ensure that these players have the best environment to perform at their best. Most of the NBA’s richest owners are true billionaires from various industries who share the same passion as the players.
NBA’s Richest Owners
In this article on the NBA’s richest owners, we look at the richest people in the league. They are among the most famous entrepreneurs, philanthropists and investors. These owners have amassed vast fortunes in their respective industries and have also become an integral part of the NBA’s expansion. They not only win teams, they are also the driving force that makes important decisions.
Here is the list of richest NBA owners.
10. Wes Edens (Bucks) – $4.8 billion
Wes Edens is one of the richest NBA owners with a net worth of $4.8 billion. He is well known in the financial industry as the co-founder of Fortress Investment Group, a global investment management firm.
In addition, Edens is also a co-owner of the Milwaukee Bucks. He and other investors bought the team in 2014 for $550 million. This new owner has breathed new life into the franchise and instilled a culture of success in the team. They slowly and surely rebuilt the squad, investing in their staff and developing their players.
This made the Bucks currently one of the best teams in the NBA. Its most notable achievement was winning the championship in 2021, led by two-time MVP Giannis Antetokounmpo.
9. Micky Arison (Heat) – $5.4 billion
Mickey Arison is best known for his company, Carnival Corporation, one of the largest cruise lines in the world. He was their CEO for over three decades and grew into a global powerhouse in the cruise industry.
Arison is also the owner of the Miami Heat. He played a crucial role in instilling a culture of success in their company and investing in the right people. Under his leadership, the Heat have won three NBA championships, including seven Finals appearances, over the past two decades.
8. Josh Harris (Sixers) – $5.4 billion
One of the richest NBA owners is Josh Harris who currently has a net worth of $5.4 billion. He and his team bought the Philadelphia Sixers in 2011 for about $280 million, which turned out to be a huge bargain for his team.
At the time, the Sixers were struggling and it was almost a decade before they made waves. Her last iconic moment was when Allen Iverson led Philadelphia to the NBA Finals. Harris decided to buy cheap and it turned out to be one of her biggest investments. After several seasons of “trusting the process,” the Sixers are now a steadfast playoff team led by superstar Joel Embiid.
7. Tony Ressler (Hawks) – $5.4 billion
Tony Ressler is widely known as the principal owner of the Atlanta Hawks. He is the co-founder and CEO of Ares Management, an investment firm based in Los Angeles, California.
Grant Hill and Tony Ressler bought the Hawks for $850 million in 2015, with the latter being the principal owner. While the team has certainly had some ups and downs over the past few years, under Ressler’s leadership, they have a good track record of developing their talent and building a solid program.
6. Tom Gores (Pistons) – $6.2 billion
Tom Gores is the owner of the Detroit Pistons and currently has a net worth of $6.2 billion. In addition to owning the Pistons, Gores is the founder and CEO of Platinum Equity, a private equity investment firm.
As one of the NBA’s richest owners, Gores continues to make major investments in the franchise, including building his new home Little Caesar’s Arena in downtown Detroit and hiring Monty Williams, one of the NBA’s top coaches. best of the league, in one. Six-year, $78.5 million contract.
5. Tilman Fertitta (Rockets) – $7.7 billion
Tilman Fertitta is one of the richest owners in the NBA. He owns the Houston Rockets and currently has a net worth of $7.7 billion. He bought the team in 2017 for a record $2.2 billion from Leslie Alexander.
Fertitta became wealthy from her family’s seafood restaurant business. After finding success in the hospitality industry, he later expanded into the hotel and casino industry. In addition to being the owner of The Rockets, Fertitta is also the Chairman and CEO of Landry Inc., a multi-brand restaurant, hospitality, entertainment and gaming company based in Houston, Texas.
Under his guidance, the Rockets have reached the Western Conference Finals once, and that was in his first year as owner. After being a consistent playoff team for nearly a decade, they decided to rebuild when they traded James Harden in 2021.
4. Ann Walton Kroenke (Nuggets) – $8.4 billion
Ann Walton Kroenke is the daughter of Bud Walton, co-founder of Walmart. She currently has a net worth of $8.4 billion and owns several major sports teams such as the Denver Nuggets and the Colorado Avalanche.
The Kroenkes are one of the wealthiest families in America. They have their own company called Kroenke Sports and Entertainment (KSE) which owns several sports teams including the Nuggets (NBA), Rams (NFL) and Arsenal (soccer).
The Nuggets have been an important part of Kroenke’s portfolio since the 2000s. They have made significant strides over the past decade, most recently with the signing of one of the league’s best centers, Nikola Jokic. Additionally, Denver has been a consistent playoff team under her leadership. None of this would be possible without Kroenke’s investment in the team.
3. Dan Gilbert (Cavaliers) – $16.1 billion
Dan Gilbert of the Cavaliers is one of the NBA’s richest owners. He currently has a net worth of $16.1 billion, making him one of only three owners to have a net worth greater than $10 billion.
In addition to being the owner of the Cavaliers, Gilbert was also a co-founder of Quicken Loans, now known as Rocket Mortgage. Rocket Mortgage is one of the largest mortgage lenders in the United States. This is the main reason why Cleveland Arena is called the Home of Rocket Mortgage Field
Under his guidance, the Cavs have achieved several important achievements. They won the Larry O’Brien Trophy in 2016, their first championship in 50 years. This championship was significant for the city of Cleveland as it ended a 52-year sports title drought.
2. Robert Pera (Grizzlies) – $17.9 billion
Robert Pera has a net worth of $17.9 billion. Pera was best known as the founder and CEO of Ubiquiti, Inc., a technology company specializing in networking equipment and wireless communications. The value of the company is currently more than 10 billion dollars.
In addition to Ubiquiti Inc., he is also known as the owner of the Memphis Grizzlies. He bought the team in 2012 for $377 million and it has become one of his best investments. Despite being a small market team, the Grizzlies franchise is currently worth $1.5 billion. Their stock will continue to rise over the next few years as they are a solid playoff team with plenty of young talent on their roster.
Despite their recent successes, they have also faced many failures, and the worst was when they signed Chandler Parsons to a four-year, $94 million deal in 2016. This is arguably one of the NBA’s worst contracts ever. all the time, and it’s very heavy. limited the Grizzlies’ chances of claiming the title for future seasons.
1. Steve Ballmer (Clippers) – $78 billion
Steve Ballmer of the Clippers is currently the NBA’s richest owner. He has a net worth of about $78 billion, which is more than four times the next richest NBA owner. Ballmer is also 37% richer than any other owner in America’s major sports leagues.
You might be wondering how Ballmer got so rich. Before buying the Los Angeles Clippers for $2 billion in 2014, Ballmer was the CEO of Microsoft for more than a decade, from 2000 to 2014. Today, he’s just an investor, philanthropist and avid Clippers fan.
Under Ballmer, the Clippers have invested in quality talent and built a strong coaching staff to become a consistent playoff contender.