What would you do if you had several billions of dollars just laying around? For many uber-rich billionaires, an NBA franchise is the ultimate purchase. Let’s take a look at the richest owners in the league and how they got their money.
5. Stanley Kroenke (Denver Nuggets)
Kroenke married Walmart heiress Ann Walton Kroenke in 1974. Nine years later he began a real estate development company. The owner of Arsenal Football Club and a 30% stake in the Los Angeles Rams, he transferred ownership of the Denver Nuggets to his wife in 2015 to satisfy the NFL’s requirement that owners not own franchises in competing markets.
He is worth $8.2 billion according to Forbes.
4. Joseph Tsai (Brooklyn Nets)
Tsai is a Taiwanese businessman who made his fortune as a co-founder of Chinese e-commerce website Alibaba. He purchased a 49% stake in the Brooklyn Nets for $2.3 billion in 2019. Tsai also owns the Barclays Center, which he purchased in a separate deal for $1 billion.
Tsai is worth $11.6 billion according to Forbes.
3. Robert Pera (Memphis Grizzlies)
One of the younger people on this list, Pera is 43 years old. He made his fortune by founding Ubiquiti Networks Inc., a global communications technology company. The company went public in 2011. In 2012, Pera bought the Memphis Grizzlies for a reported $377 million dollars.
Pera is worth $16.5 billion according to Forbes.
2. Daniel Gilbert (Cleveland Cavaliers)
Gilbert is the co-founder of Quicken Loans, one of the largest home loan services in the United States. In 2005, Gilbert purchased a 72 percent stake in the Cleveland Cavaliers for a reported $375 million.
Gilbert is worth $46.7 billion according to Forbes.
1. Steve Ballmer (Los Angeles Clippers)
Ballmer is by far the richest owner in the league. He joined Microsoft in 1980 as the company’s thirtieth hire. He went on to be CEO of the company from 2000 to 2014. Immediately following his retirement from Microsoft, he purchased the Los Angeles Clippers for a whopping $2 billion.