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Forbes: Steve Ballmer is the richest team sports owner

Discussion in 'NBA Dish' started by Clips/Roxfan, Apr 7, 2020.

  1. Clips/Roxfan

    Clips/Roxfan Member

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    [​IMG]


    Wealthy Gorilla

    Steve Ballmer should have been in his usual courtside seat last night watching the Los Angeles Clippers host the Chicago Bulls at the Staples Center. Few fans, much less billionaire team owners, can match the enthusiasm of the former Microsoft CEO. The Clippers were an NBA title favorite this season after adding Kawhi Leonard and Paul George last summer.

    Of course, sports arenas and stadiums remain dark around the globe because of the coronavirus shutdown. It could be months before the Clippers post their next victory. But off the court, Ballmer continues to rack up wins. With a $52.7 billion net worth, Ballmer unseats India’s Mukesh Ambani as the world’s richest sports team owner. He ranks as the 11th-richest person on the planet overall in Forbesannual tally of billionaires, which is headed by Jeff Bezos ($113 billion) for the third straight year.

    Many global stock market indexes are down at least 20% over the past 12 months, but software giant Microsoft rose 30%, even accounting for a 18% haircut to the stock over the past two months. Microsoft’s gains, fueled by strong cloud computing results, added $11.5 billion to Ballmer’s net worth.

    Ballmer has completely transformed the Clippers from a laughingstock to a model NBA franchise since he paid a then-record $2 billion for the team in 2014. The shoestring budget is long gone, front office legend Jerry West is on board, and the club is a desirable free-agent destination for the first time.

    Last month, Ballmer reached a deal to buy the Forum in Inglewood, California, from Madison Square Garden Co. for $400 million. It should grease the wheels on Ballmer’s plan for a new Clippers arena in the city, ending MSG’s legal battle to stop a new competitor for live events.

    There are 60 billionaire controlling owners of teams in major sports leagues around the world. They own a total of 80 teams (dozens of other billionaires own minority stakes in teams or own ones in lower leagues) and are collectively worth $379 billion. The group fared better than most people over the past 12 months, with their average net worth down $15 billion, or just 4%. However, the combined net worth is off $86 billion since the coronavirus started to roil global markets in mid-February.

    While Ballmer was the biggest gainer in dollar terms, private equity titan Tom Gores led the field percentage-wise, with a 43% increase in his net worth, to $5.7 billion. Gores, who bought the Detroit Pistons in 2011, launched his firm Platinum Equity in 1995. In January, Platinum closed its largest buyout fund ever, with $10 billion in total capital commitments.

    Ambani’s fortune plummeted $13 billion, to $36.8 billion, as shares of his oil and gas giant Reliance Industries sunk over energy demand concerns during a global recession. He still ranks as the second-richest team owner. Ambani owns cricket’s Mumbai Indians in the Indian Premier League, which is on the verge of being canceled for the year as a result of the coronavirus.

    Micky Arison, who is chairman of the world's largest cruise ship operator, Carnival Corp. CCL.U , lost 43% of his fortune, which now stands at $5.1 billion. The meltdown of the cruise business crushed the firm his father cofounded in 1972. Carnival shares are down 80% year-to-date.

    François Pinault ($27 billion), Dietrich Mateschitz ($16.5 billion) and Hasso Plattner ($12.4 billion) join Ballmer and Ambani among the five richest owners.

    The richest new addition to the ownership ranks is Alibaba BABA cofounder, Joseph Tsai, who is worth $10 billion, tied for ninth among team owners. He completed his purchase of the Brooklyn Nets and Barclays Center from Mikhail Prokhorov in August for $3.3 billion.

    Through his philanthropic arm, Ballmer Group, he pledged $25 million last month to organizations in Seattle, Los Angeles and southeastern Michigan helping out during the coronavirus pandemic, including $10 million to the University of Washington to help their efforts to develop a vaccine.

    https://www.forbes.com/sites/kurtba...richest-sports-team-owners-2020/#3877c22427b5

     
  2. tinman

    tinman Contributing Member
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    I also heard water is wet
     
  3. Clips/Roxfan

    Clips/Roxfan Member

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    Wealthy gorilla should be Steve Ballmer's nickname. Here is a picture of Steve Ballmer with Lakers owner, Jeanie Buss:

    [​IMG]
     
    daywalker02 likes this.
  4. rockbox

    rockbox Contributing Member

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    Until Bezos decides to buy a team or a league.
     
    tinman likes this.
  5. Clips/Roxfan

    Clips/Roxfan Member

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  6. tinman

    tinman Contributing Member
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    All the money in the word is not going to change Los Angeles favorite team from the lakers to clippers
    He needs to win championships and lots of them
     
  7. bleedroxred79

    bleedroxred79 Member

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    I wonder who's last? :D "If you ain't first... you're last! Huh, sounds about right.
     
  8. daywalker02

    daywalker02 Easter Egg Hunter - Tell me why? نحن عائلة
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    Tech giant > restaurateur billionaire
     
    CK Johnson likes this.
  9. Air Langhi

    Air Langhi Contributing Member

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    Tillman made his fortune. I think Ballmer was lucky he got with bill gates. MSFT has been doing way better since he left.
     
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  10. Ziggy

    Ziggy Tastemaker
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    And hopefully continues to lose it.
     
    Jontro and daywalker02 like this.
  11. Air Langhi

    Air Langhi Contributing Member

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    Tilman might a terrible person and owner, but he did make his money the old fashioned way by building his business empire. Ballmer was bills friend from college. Let's not praise him for being a genius.
     
  12. Ziggy

    Ziggy Tastemaker
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    Balmer went to a prestigious college. Fertitta went to a 3rd rate shack. Mwuahaha. Suckers. Do NOT @ me.
     
  13. smoothie_king

    smoothie_king Member

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    Thought montrezl Harrell missed a shot at all star. Don't see how kemba walker or gobert made it ahead of Harrell.
     
  14. Clips/Roxfan

    Clips/Roxfan Member

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    Some billionaire fortunes grew despite coronavirus pandemic
    [​IMG]
    Megan Henney
    Fox BusinessApril 28, 2020

    As the coronavirus pandemic clobbers the U.S. economy, leaving nearly one in six workers without a job, some of the wealthiest Americans have actually seen their massive fortunes grow.

    For example, Amazon CEO Jeff Bezos' net worth jumped by more than $28 billion from last year to a $146 billion, according to the Bloomberg Billionaire Index.

    SENATOR PUSHES DOJ TO OPEN CRIMINAL INVESTIGATION INTO AMAZON' data-reactid="15">SENATOR PUSHES DOJ TO OPEN CRIMINAL INVESTIGATION INTO AMAZON

    With millions of Americans stuck at home in an attempt to mitigate the spread of the virus, consumers are increasingly relying on the e-commerce behemoth to deliver sundries to their house. Amazon shares were hovering close to $2,372 on Tuesday afternoon, which is up nearly 25 percent from the beginning of 2020, when they were around $1,898 per share.

    “The wealth of America's top 10 billionaires is up 4 billion since the beginning of the year,” Gabriel Zucman, an economist at the University of California, Berkeley, tweeted Monday. “Quite a resilient tax base here.”

    The crisis has brought the global economy to a near standstill and pushed more than 26 Americans onto the unemployment roll in just five weeks, erasing the entirety of the 22.78 million labor market gains since the Great Recession more than a decade ago.

    But Bezos, the richest person in the world, and his ultra-wealthy peers have continued to grow their wealth since last year.

    Steve Ballmer's fortune grew by $5 billion. The former CEO of Microsoft is now worth $63.3 billion, compared to the same period last year. And the net worth of Oracle co-founder Larry Ellison increased by $1.3 billion since last year, according to the Bloomberg index.

    AMAZON SCOOPED DATA FROM ITS OWN SELLERS TO LAUNCH COMPETING PRODUCTS' data-reactid="21">AMAZON SCOOPED DATA FROM ITS OWN SELLERS TO LAUNCH COMPETING PRODUCTS

    The heirs to the Walmart fortune, Rob, Jim and Alice Walton, fortunes soared by a total of $6.42 billion. Similar to Amazon, the price of Walmart shares has swelled compared to the pre-coronavirus days. Shares of the discount retailer were close to $128.22 on Tuesday, which is up roughly 8 percent since the beginning of January.

    Not every billionaire has made it out unscathed. The richest 10 individuals' wealth fell by about $25 billion, compared to a year ago.

    Notable losses included Microsoft founder Bill Gates, who lost $8.25 billion, decreasing his net worth to $105 billion; Berkshire Hathaway CEO Warren Buffett, whose fortune dropped by $15.4 billion to $73.9 billion; and Facebook CEO Mark Zuckerberg, who lost $6.75 billion.
    https://finance.yahoo.com/news/billionaire-fortunes-grew-despite-coronavirus-204151143.html
     
  15. Nook

    Nook Member

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    Those numbers drastically undersell Bezos’ worth.
     
  16. TilmanFinancialWindfall

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  17. cerophilik

    cerophilik Member

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    Would you guys be ok if Bezos bought the Rockets from Tillman ??? :p
     
    Jontro likes this.
  18. KingCheetah

    KingCheetah Contributing Member

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    Fern Tits broke AF.
     
  19. Juxtaposed Jolt

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    Imagine losing 13 billion dollars...and still having your net worth over 35 billion dollars.

    Must be nice.
     
  20. tinman

    tinman Contributing Member
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    Microsoft > Joe’s Crab Shack
     
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