When you watch a thrilling NBA match, you can easily get caught up in the intensity of the game. But have you ever wondered who actually owns these teams?
NBA is one of most popular sports leagues in the world not only because of the talented players but also because it has been benefitted by a diverse group of team owners.
Most of them are billionaires of course who have amassed staggering fortunes, making them some of the wealthiest individuals on the planet.
But where does all that money originate from? While owning an NBA team is indeed a lucrative investment, the top owners often have capital derived from multiple sources.
Los Angeles Clippers owner Steve Ballmer is the richest of them all with a net worth of 112 billion USD as of November 2023.
In this article, we dig deep into the financial landscape of NBA ownership and rank all 30 franchise owners based on their net worth.
Steve Ballmer is the wealthiest NBA owner who acquired the Los Angeles Clippers in 2014. Forbes estimated his net worth at $112.8 billion as of 2023.
Ballmer, the Co-founder of Ballmer Group and former Microsoft CEO, bought the NBA franchise for a staggering 2 billion dollars from Donald Sterling. The 67-year-old American tycoon currently sits at 9th in the Forbes' The Real-Time Billionaires list.
Daniel Gilbert is among the richest owners in NBA with a net worth of $20.7 billion. Gilbert solely owns the 2016 NBA champion Cleveland Cavaliers.
He is also one of the many Jewish NBA owners who have helped shape the league's success and growth over the years. The co-founder of Rocket Mortgage, Daniel purchased the Cavs in 2005 at just 375 million USD.
Jody Allen is the co-founder and head of the Paul G. Allen Family Foundation. She took control of the Portland Trail Blazers in 2018.
She is the sister of the franchise's previous owner Paul Allen. After Paul's demise in 2018, all of his properties and projects were passed to Jody as the new owner.
In 1986, Paul and Jody co-founded Vulcan Inc through which they began their business empire.
Ann Walton Kroenke is among a few female NBA basketball owners. Kroenke has a net worth of 9.2 billion US dollars as of November 2023.
Her husband Stan Kroenke was the previous owner of the franchise. But in October 2015, Stan transferred his ownership stake of the Nuggets and NHL club Colorado Avalanche to his wife Ann.
The Fertitta Entertainment head and owner of Landry's, Inc., Tilman Fertitta bought the Houston Rockets on September 5, 2017, for $2.2 billion.
Coined as the 'World's Richest Restaurateur', Fertitta is also the president of the board of governors of the University of Houston System. As an influential figure, his calculated net worth as of now is $9.2 billion, reflecting his substantial financial success.
Detroit Pistons owner Tom Gores ranks 6th in the list of NBA owners net worth. His total properties and assets are valued at around $9.1 billion in 2023.
Gores founded Platinum Equity in 1995 which has since grown to become one of the largest private equity firms globally. Gores and Platinum Equity joined forces to acquire the Detroit Pistons in June 2011 and he later became the lone owner in 2015.
Tony Ressler is the principal owner of the National Basketball Association's Atlanta Hawks. He has the highest stake among other owners at 51%.
Ressler together with a group of six obtained the franchise in June 2015 at the cost of US $850 million.
Other Hawks Owners
Jimmy Haslam purchased the 25% stake in the Milwaukee Bucks from Marc Lasry in February 2023 to be the majority owner at the club.
According to ESPN, Haslem spent approximately $3.5 billion to buy Lasry's share in the franchise. Besides, his net worth remains $8.8 billion as of November 2023.
Many considered the duo of Marc Lasry and Wes Edens to be the best NBA owners.
Joshua Harris and David Blitzer split the ownership of the Philadelphia 76ers into 51-49% stake. Harris, the co-founder of Apollo Global Management has a net worth of $7.7 billion.
The 58-year-old Maryland native led the investment team that purchased the Sixers in 2011 along with various other entities.
Besides Harris also serves as the Managing Partner of the New Jersey Devils (NHL) and Washington Commanders (NFL).
Joseph Tsai has dropped into 9th place in the list of richest owners of NBA teams. He bought the Brooklyn Nets in 2019 at 2.3 billion USD.
At the time of Nets' purchase his net worth was $14.2 billion. However, it has been a sharp decline since and he currently possesses only half of his previous fortune, $7.6 billion in 2023.
Micky Arison name comes on the list of NBA owners who are most successful. Under his ownership, the Miami Heat has won three NBA Championships.
The Israel-born billionaire businessman's wealth is estimated at 7.5 billion US dollars by Forbes. If you are wondering how much do NBA owners make, Arison earned $7,201,110 in 2009.
Mat Ishbia is a principal owner of the Phoenix Suns who has a fortune of $6.9 billion. Ishbia with his older brother acquired the Phoenix franchise recently in 2023.
The US $4 billion the Ishbia brothers paid to purchase the team broke the record of the most expensive NBA franchise to date. Mat owns a 57% stake while Justin is the remaining 43% owner of the Suns.
Robert Pera is the sole proprietor of the Memphis Grizzlies having owned the basketball franchise since 2012. Pera's net worth in 2023 is around $6.3 billion.
The founder and CEO of Ubiquiti Networks, Inc. bought Memphis for 377 million USD from the previous owners group which include JR Hyde, Staley Cates and Duncan Williams
A decade ago, at 36 years of age, Pera secured a position among the top 10 youngest billionaires globally, as recognized by Forbes.
One of the famous investors on Shark Tank, Mark Cuban has a whopping net worth of $6.2 billion. Cuban announced his departure from ABC's Shark Tank in November 2023.
The billionaire businessman and TV personality has been the sole owner of the Dallas Mavericks since 2000. He purchased the club at US $280 million and helped the Dallas Blues to their first NBA title in 2011.
Gayle Benson is the owner of $6.1 billion and the New Orleans Pelicans in the NBA. Benson became the primary owner of the club in 2018.
The team's ownership was passed down to Gayle from her late husband Tom Benson, who purchased it in 2012. Moreover, she also holds possession of the National Football League side, the New Orleans Saints.
Dan DeVos fulfills the position of owner and chairman of NBA's Orlando Magic. His net worth of $5.4 billion puts him in the 16th position of the richest NBA owners list.
DeVos is also among the longest-tenured NBA owners having owned the Magic since 1991, making him one of the most experienced individuals in the league's ownership landscape.
Herbert Simon wields ownership over two basketball franchises located in Indiana. He claims dominion over both NBA's Indiana Pacers and WNBA's Indiana Pacers.
As of 2023, his net worth amounts to $3.4 billion. Simon, an American realtor, also acts as the chairman of Simon Property Group. He acquired a book review magazine company Kirkus Reviews in 2010.
Forbes estimated the Minnesota Timberwolves owner Glen Taylor net worth to be $2.8 billion. Taylor purchased the Wolves in 1995 for only 88.5 million USD.
In 2023, the franchise's worth rose to 2.5 billion, but they are ranked 29th among the NBA's 30 teams in terms of valuation. Apart of the Wolves, Taylor also owns the Minnesota Lynx of the WNBA and the Minnesota United FC of MLS.
Ted Leonsis bought the NBA's Washington Wizards in 2010 for $551 million. Leonsis is the founder and owner of Monumental Sports & Entertainment.
Born on January 8, 1957, the New York native has accumulated a fortune worth $2.8 billion as of November 2023. He is also the founder of Revolution Money, Snagfilms, LIST Magazine and many others.
Jerry Reinsdorf is the 20th richest in the log of NBA team owners with an estimated net worth of $2.4 billion.
Reinsdorf's tenure as the owner of the Chicago Bulls spans an impressive 35 years, beginning when he assumed control in 1985. This enduring dedication makes him the longest-standing owner to remain dedicated to a single club in the league's history.
Ryan Smith is the co-founder and executive head of Qualtrics. Smith, who has 2.1 billion in his bank account is a majority owner of the Utah Jazz.
The 45-year-old with his team purchased the NBA franchise for 1.66 billion USD in 2021. Ryan Sweeney, Ashley Smith, Mike Cannon-Brookes, the Miller Family and Dwyane Wade are the rest of the owners.
New York Knicks owner James Dolan is a billionaire with a net worth of over $2 billion. Dolan holds the position of Executive Chairman of MSG Networks and Madison Square Garden Sports.
Besides the Knicks, NHL's New York Rangers, WNBA's New York Liberty and AHL's Hartford Wolf Pack are some of the franchises under this authority. Roto Baller put him #1 on the list of worst NBA owners.
Joe Lacob's impact as the owner of the Golden State Warriors has been unparalleled in the current era, with his team securing a remarkable five NBA championships since he took over in 2010.
Throughout his reign, Lacob has tirelessly worked to build a winning culture within the team. He currently is the majority owner holding a 35% stake while Peter Guber shares 20%. The rest is divided among minority owners.
Larry Tanenbaum is a Canadian billionaire businessman who is the principal owner of the Toronto Raptors. Larry's net worth is projected to be $2 billion in 2023.
He also serves as the chairman of Maple Leaf Sports & Entertainment (MLSE). Tanenbaum shares the ownership of the Raptors with Rogers Communications and BCE Inc.
Starting from Jeanie Buss, we now have owners of NBA teams who are not billionaires, surprisingly. The LA Lakers proprietor has a net worth of $700 million.
After the passing of her father Jerry Buss, the former Lakers owner, in 2013, his controlling ownership of the franchise passed to his 6 offspring through a family trust, with each receiving an equal stake.
Vivek Ranadive is an Indian American business genius who owns a majority stake in Sacramento Kings, 65%.
Ranadive has amassed his fortune of $700 million via various endeavors. He currently assumes the role of CEO in TIBCO Software.
Ranadive paid $348 million to purchase 65% of the Kings' stake in 2013. He was previously VC and co-owner of the Golden State Warriors.
Wyc Grousbeck takes the mantle of the Boston Celtics governor. Grousbeck is also a principal owner of the basketball club with a 20% stake in his name.
Rest of the members of the Celtics ownership group are:
Gabe Plotkin was the owner and chief investment officer of a hedge fund entity, Melvin Capital. Plotkin along with Rick Schnall bought a majority stake of the Charlotte Hornets in 2023 from Michael Jordan.
The duo together paid 3 billion USD for the purchase of the Hornets.
Clay Bennett is the sole owner of the NBA franchise Oklahoma City Thunder. Bennett acquired the franchise in 2006 for $325 million when it was in Seattle.
He then relocated the club to Oklahoma City and subsequently named them the Oklahoma City Thunder.
Peter J Holt has been the owner of the San Antonio Spurs since 1993. The Holt family bought the franchise for only US $76 million at that time.
He is the third member of the family to run Spurs Sports & Entertainment after his father Peter M Holt and mother Julianna Holt. Peter J Holt took over the responsibility from Julianna in 2019.
