Steve Ballmer On Top As Steve Cohen Prepares To Join Ranks

The sports team owners on Forbes’ new Forbes 400 list are worth a combined $271 billion, up 6% over the past year.

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^The coronavirus pandemic shuttered most pro sports leagues for three-plus months, and the return to competition has occurred almost entirely in fan-free venues, wreaking havoc on sports team financials. But most team owners fared just fine as they rode surging stock markets to record net worths.

The combined fortune of the 42 Forbes 400 members who own controlling stakes in teams in major sports leagues is up 6%, to $271 billion, over the past 12 months.

Steve Ballmer leads the way for the sixth straight year, with a net worth of $69 billion, up $17.6 billion over last year; he ranks sixth overall on The Forbes 400, which is topped by Jeff Bezos at $179 billion. Ballmer, the high-wattage former Microsoft CEO, still owns a huge chunk of the tech giant, whose stock is up 45% in the last year.

He joined the sports ownership ranks in 2014 when he paid $2 billion for the Los Angeles Clippers, who are one of the favorites for a title in the NBA’s Disney World bubble. The Clippers, whom Forbes valued at $2.6 billion in February, make up just 4% of Ballmer’s fortune.

While sports represent a small fraction of Ballmer’s net worth, teams make up more than 60% of the fortunes of guys like Jerry Jones of the Dallas Cowboys (No. 5, $8.6 billion), multi-team owner Stanley Kroenke (No. 6, $8.3 billion) and the New England Patriots’ Robert Kraft (No. 10, $6.6 billion).

Ballmer had the biggest dollar gain, but Memphis Grizzlies boss Robert Pera was the winner in percentage terms, up 39% to $10.5 billion. The Ubiquiti Networks founder rode a 58% rise in the wireless equipment maker’s share price to rank as the third-richest American team owner. Hedge fund titan David Tepper, who bought the Charlotte Panthers in 2018, is sandwiched between Ballmer and Pera at No. 2, with $13 billion.

Boston Bruins owner Jeremy Jacobs (No. 37, $2.6 billion) had the biggest fall, with his net worth down 65%, fueled by a coronavirus-induced lower valuation for the family’s venue concessions business, Delaware North.

The values for The Forbes 400 were calculated as of July 24, but one owner’s net worth has surged since then. Rocket Mortgage, formerly known as Quicken Loans, went public August 6 at a sky-high valuation, to the immense benefit of Daniel Gilbert, who owns the vast majority of the mortgage lender. The longtime Cleveland Cavaliers owner is worth $7.5 billion on The Forbes 400, but his current fortune, as of September 4, is more like $51 billion, ranked 15th among America’s billionaires.

Hedge fund titan Steve Cohen is likely to be part of the richest sports team owners club by this time next year. Cohen, whose agreement to buy the New York Mets earlier in 2020 blew up, is on the verge of finally buying his childhood team for roughly $2.4 billion. Cohen is worth $14.5 billion.

The NFL has the most Forbes 400 members in the ownership suite with 16, followed by the NBA (14) and NHL (nine).

Here are the sports team owners on the 2020 Forbes 400 list. Net worths are as of July 24.

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1.

Steve Ballmer

NET WORTH: $69 billion

SOURCE OF WEALTH: Microsoft

TEAM(S): Los Angeles Clippers

2.

David Tepper

NET WORTH: $13 billion

SOURCE OF WEALTH: hedge funds

TEAM(S): Charlotte Panthers, Charlotte FC

3.

Robert Pera

NET WORTH: $10.5 billion

SOURCE OF WEALTH: wireless networking gear

TEAM(S): Memphis Grizzlies

4.

Philip Anschutz

NET WORTH: $10.1 billion

SOURCE OF WEALTH: investments

TEAM(S): Los Angeles Kings, LA Galaxy

5.

Jerry Jones

NET WORTH: $8.6 billion

SOURCE OF WEALTH: sports teams

TEAM(S): Dallas Cowboys

6.

Stanley Kroenke

NET WORTH: $8.3 billion

SOURCE OF WEALTH: sports, real estate

TEAM(S): Los Angeles Rams, Arsenal, Denver Nuggets, Colorado Avalanche

7.

Shahid Khan

NET WORTH: $7.8 billion

SOURCE OF WEALTH: auto parts

TEAM(S): Jacksonville Jaguars

8.

Daniel Gilbert

NET WORTH: $7.5 billion

SOURCE OF WEALTH: Quicken Loans

TEAM(S): Cleveland Cavaliers

9.

Stephen Ross

NET WORTH: $7.2 billion

SOURCE OF WEALTH: real estate

TEAM(S): Miami Dolphins

10.

Robert Kraft

NET WORTH: $6.6 billion

SOURCE OF WEALTH: sports teams

TEAM(S): New England Patriots, New England Revolution

11.

Arthur Blank

NET WORTH: $6.1 billion

SOURCE OF WEALTH: Home Depot

TEAM(S): Atlanta Falcons, Atlanta United

12.

Tom Gores

NET WORTH: $5.7 billion

SOURCE OF WEALTH: private equity

TEAM(S): Detroit Pistons

13.

Micky Arison

NET WORTH: $5.6 billion

SOURCE OF WEALTH: Carnival Cruises

TEAM(S): Miami Heat

14.

Joshua Harris

NET WORTH: $5.1 billion

SOURCE OF WEALTH: private equity

TEAM(S): Philadelphia 76ers, New Jersey Devils, Crystal Palace

14.

Terrence Pegula

NET WORTH: $5.1 billion

SOURCE OF WEALTH: natural gas

TEAM(S): Buffalo Bills, Buffalo Sabres

16.

Charles Dolan & family

NET WORTH: $4.8 billion

SOURCE OF WEALTH: cable TV

TEAM(S): New York Knicks, New York Rangers

16.

Ted Lerner & family

NET WORTH: $4.8 billion

SOURCE OF WEALTH: real estate

TEAM(S): Washington Nationals

18.

Henry Samueli

NET WORTH: $4.7 billion

SOURCE OF WEALTH: semiconductors

TEAM(S): Anaheim Ducks

19.

Stephen Bisciotti

NET WORTH: $4.6 billion

SOURCE OF WEALTH: staffing

TEAM(S): Baltimore Ravens

20.

Charles Johnson

NET WORTH: $4.3 billion

SOURCE OF WEALTH: money management

TEAM(S): San Francisco Giants

21.

Mark Cuban

NET WORTH: $4.2 billion

SOURCE OF WEALTH: online media

TEAM(S): Dallas Mavericks

22.

Tilman Fertitta

NET WORTH: $4.1 billion

SOURCE OF WEALTH: entertainment

TEAM(S): Houston Rockets

22.

Dan Friedkin

NET WORTH: $4.1 billion

SOURCE OF WEALTH: Toyota dealerships

TEAM(S): A.S. Roma

24.

Marian Ilitch

NET WORTH: $4 billion

SOURCE OF WEALTH: Little Caesars

TEAM(S): Detroit Red Wings

25.

Joe Mansueto

NET WORTH: $3.9 billion

SOURCE OF WEALTH: investment research

TEAM(S): Chicago Fire

25.

Janice McNair

NET WORTH: $3.9 billion

SOURCE OF WEALTH: energy, sports

TEAM(S): Houston Texans

27.

Mark Walter

NET WORTH: $3.7 billion

SOURCE OF WEALTH: finance

TEAM(S): Los Angeles Dodgers

28.

Anthony Ressler

NET WORTH: $3.5 billion

SOURCE OF WEALTH: finance

TEAM(S): Atlanta Hawks

29.

John Middleton

NET WORTH: $3.4 billion

SOURCE OF WEALTH: tobacco

TEAM(S): Philadelphia Phillies

29.

Arturo Moreno

NET WORTH: $3.4 billion

SOURCE OF WEALTH: billboards

TEAM(S): Los Angeles Angels

31.

Gayle Benson

NET WORTH: $3.3 billion

SOURCE OF WEALTH: sports teams

TEAM(S): New Orleans Pelicans, New Orleans Saints

32.

Denise York & family

NET WORTH: $3.2 billion

SOURCE OF WEALTH: sports teams

TEAM(S): San Francisco 49ers

33.

James Irsay

NET WORTH: $3 billion

TEAM(S): Indianapolis Colts

34.

Jimmy Haslam

NET WORTH: $2.9 billion

SOURCE OF WEALTH: gas stations, retail

TEAM(S): Cleveland Browns, Columbus Crew

35.

John Henry

NET WORTH: $2.8 billion

SOURCE OF WEALTH: sports

TEAM(S): Boston Red Sox, Liverpool, Roush Fenway Racing

36.

Jeffrey Lurie

NET WORTH: $2.7 billion

SOURCE OF WEALTH: sports teams

TEAM(S): Philadelphia Eagles

37.

Jeremy Jacobs Sr. & family

NET WORTH: $2.6 billion

SOURCE OF WEALTH: food service

TEAM(S): Boston Bruins

37.

Herbert Simon

NET WORTH: $2.6 billion

SOURCE OF WEALTH: real estate

TEAM(S): Indiana Pacers

37.

Dan Snyder

NET WORTH: $2.6 billion

SOURCE OF WEALTH: sports teams

TEAM(S): Washington Redskins

40.

Glen Taylor

NET WORTH: $2.5 billion

SOURCE OF WEALTH: printing

TEAM(S): Minnesota Timberwolves

40.

Vincent Viola

NET WORTH: $2.5 billion

SOURCE OF WEALTH: electronic trading

TEAM(S): Florida Panthers

42.

John Fisher

NET WORTH: $2.4 billion

SOURCE OF WEALTH: Gap

TEAM(S): Oakland Athletics, San Jose Earthquakes