The meteoric rise in the value of professional sports teams continues thanks to blockbuster TV contracts and record profitability, fueled by owner-friendly labor contracts. Teams were sold for record amounts in the NBA (Houston Rockets) and MLB (Miami Marlins) last year with the NFL on the verge of its own record with the imminent sale of the Carolina Panthers. There are now 100 sports teams across the globe worth at least $1 billion.
Forbes has tracked the world’s richest people for more than 30 years. This year’s roundup found a record 2,208 billionaires, fueled by booming stock markets, cryptocurrencies and more. Amazon founder Jeff Bezos topped the billionaires list for the first time with a $112 billion fortune, usurping Microsoft founder Bill Gates, who ranked first 18 of the past 24 years.
There is also a change at the top among the richest sports team owners. Former Microsoft CEO Steve Ballmer, who bought the Los Angeles Clippers for $2 billion in 2000, has been the world’s richest sports team owner the past three years. Ballmer’s fortune jumped $8.4 billion over the last 12 months to $38.4 billion, thanks to a 38% rise in Microsoft’s share price.
Despite the increase, Ballmer could not hold off Mukesh Ambani, who owns Indian Premier League cricket club Mumbai Indians. Ambani chairs and runs $51 billion (revenues) oil and gas giant Reliance Industries. Reliance’s stock is up 80%, pushing Ambani’s fortune to $40.2 billion from $23.2 billion a year ago.
Reliance was founded by Ambani’s late father, Dhirubhai, a yarn trader, in 1966 as a small textile manufacturer. The company expanded into oil and gas, refining, retail and telecom.
In 2016, Reliance sparked a price war in India’s hyper-competitive telecom market with the launch of 4G phone service Jio. Reliance signed on 160 million customers to Jio by offering free domestic voice calls, dirt-cheap data services and virtually free smartphones.
The IPL was launched in 2008 and the Indians are the most successful franchise in the league’s first decade with three IPL titles. The Indians are owned by Reliance through its subsidiary IndiaWin Sports.
Ambani is the richest person in Indian and his fortune ranks nineteenth among the world’s billionaires.
There are 62 billionaire owners of teams in major sports leagues around the world who are the majority shareholder of managing partner of a team. These members of the three-comma club collectively own 78 teams and are worth a combined $375 billion.
Red Bull billionaire Dietrich Mateschitz is the third richest team owner, worth $23 billion. He cofounded the ubiquitous energy drink in 1987 and more than 6.3 billion cans were sold last year. Mateschitz’s current stake in the company is 49%.
In addition to sponsoring roughly 140 athletes across 50-something disciplines in the likes of BASE Jumping, bouldering, roller derby, slack-lining and more, Red Bull owns three sports teams and all serve as marketing opportunities for the core business. The company owns the New York Red Bulls in MLS, as well as Formula One teams Red Bull Racing and Red Bull Toro Ross Honda.
Rounding out the five richest sports team owners are Paul Allen ($21.7 billion) and Philip Anschutz ($13 billion).
One drop-off among the richest sports team owners is Silvio Berlusconi. The three-time Italian prime minister and media titan sold his stake in AC Milan last year to Chinese investors for $630 million after more than 30 years at the helm of the Italian soccer club. Berlusconi and his family are worth $8 billion, up from $7 billion a year ago.
1. (No. 19 overall) Mukesh Ambani
Net worth: $40.1 billion
Sources of wealth: Petrochemicals, oil & gas
Team: Mumbai Indians
2. (22) Steve Ballmer
Net worth: $38.4 billion
Source of wealth: Microsoft
Team: Los Angeles Clippers
3. (37) Dietrich Mateschitz
Net worth: $23 billion
Source of wealth: Red Bull
Teams: New York Red Bulls, Red Bull Racing, Red Bull Toro Rosso Honda
4. (44) Paul Allen
Net worth: $21.7 billion
Sources of wealth: Microsoft, investments
Teams: Portland Trail Blazers, Seattle Seahawks
5. (108) Philip Anschutz
Net worth: $13 billion
Source of wealth: Investments
Teams: Los Angeles Kings, LA Galaxy
6. (116) Hasso Plattner & family
7. (140) Roman Abramovich
Net worth: $10.8 billion
Sources of wealth: Steel, investments
Team: Chelsea FC
8. (154) Micky Arison
Net worth: $9.7 billion
Source of wealth: Carnival Cruises
Team: Miami Heat
9. (158) Mikhail Prokhorov
Net worth: $9.6 billion
Source of wealth: Investments
Team: Brooklyn Nets
10. (183) Stanley Kroenke
Net worth: $8.3 billion
Sources of wealth: Sports, real estate
Teams: Los Angeles Rams, Arsenal, Denver Nuggets, Colorado Avalanche
11. (205) Stephen Ross
Net worth: $7.6 billion
Source of wealth: Real estate
Team: Miami Dolphins
12. (217) Shahid Khan
Net worth: $7.2 billion
Source of wealth: Auto parts
Team: Jacksonville Jaguars
13. (274) Daniel Gilbert
Net worth: $6.3 billion
Source of wealth: Quicken Loans
Team: Cleveland Cavaliers
14. (281) Robert Kraft
Net worth: $6.2 billion
Source of wealth: New England Patriots
Teams: Patriots, New England Revolution
15. (321) Charles Johnson
Net worth: $5.6 billion
Source of wealth: Money management
Team: San Francisco Giants
15. (321) Jerry Jones
Net worth: $5.6 billion
Source of wealth: Dallas Cowboys
Team: Cowboys
17. (351) Richard DeVos & family
Net worth: $5.4 billion
Source of wealth: Amway
Team: Orlando Magic
18. (372) Marian Ilitch
Net worth: $5.2 billion
Sources of wealth: Pizza, sports team
Teams: Detroit Red Wings, Detroit Tigers
19. (388) Joe Lewis
Net worth: $5 billion
Source of wealth: Investments
Team: Tottenham Hotspur
19. (388) Vichai Srivaddhanaprabha
Net worth: $5 billion
Source of wealth: Duty-free
Team: Leicester City
