Miriam Adelson, the widow of casino magnate Sheldon Adelson, is breaking into the upper echelons of US sports team ownership with her planned purchase of a majority stake in the Dallas Mavericks basketball team.
The Las Vegas Sands Corp. heir, who is worth an estimated $33 billion, would be the third-richest owner of a US sports team, just after Steve Ballmer and Rob Walton, according to the Bloomberg Billionaires Index. She’d also be the only woman in the top 10.
Not included is the estate of Microsoft Corp. cofounder Paul Allen, which owns the Seattle Seahawks and Portland Trail Blazers.
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Sports teams are among the shiniest trophy assets a person can buy — and as valuations have continued to climb, ultra-wealthy billionaires are increasingly targeting the industry. In many cases, this new class of tycoons is replacing the merely wealthy businessmen and families that owned franchises for decades.
Adelson’s purchase puts the Mavericks’ total valuation at $3.5 billion, the Athletic reported. That would be less than the $4 billion Mat Ishbia paid for the Phoenix Suns earlier this year.
Mark Cuban, who is worth an estimated $6.4 billion, acquired the Mavericks from H. Ross Perot Jr. in 2000 for $285 million. Under his ownership, the team has won three division titles, two conference championships and one NBA title, in 2011.
Here are 10 of the wealthiest owners of US sports teams:
1. Steve Ballmer
The former Microsoft chief executive and fifth-richest person in the world owns the NBA’s Los Angeles Clippers. He’s worth $131.7 billion.
2. Rob Walton
The former Walmart Inc. chairman owns the Denver Broncos football team. He has a $70.4 billion fortune.
3. Miriam Adelson
The widow of the casino magnate is selling $2 billion worth of Las Vegas Sands shares so the family can buy a majority stake in the Mavericks from Cuban.
4. Daniel Gilbert
The Rocket Cos. founder, worth $21.3 billion, holds a majority stake in the NBA’s Cleveland Cavaliers.
5. Hasso Plattner
The cofounder of software giant SAP SE is the majority owner of the National Hockey League’s San Jose Sharks. He’s worth an estimated $18 billion.
6. David Tepper
The cofounder of investment adviser Appaloosa Management LP is also the owner of the Carolina Panthers NFL team. He has a net worth of $17.3 billion.
7. Stan Kroenke
Through his Kroenke Sports & Entertainment, the tycoon controls the Los Angeles Rams football team, the Denver Nuggets basketball franchise, the Colorado Avalanche ice hockey team, as well as soccer clubs Colorado Rapids and Arsenal in the UK. He’s worth $16.3 billion.
8. Philip Anschutz
His closely held Anschutz Corp. owns a collection of sports teams in the US, Canada and Europe. Those include the NHL’s Los Angeles Kings and soccer teams Houston Dynamo and Los Angeles Galaxy. He has a $15.2 billion fortune.
9. Steve Cohen
Cohen, whose $13.9 billion net worth is mainly comprised of his stake in Point72 Asset Management, also owns the New York Mets baseball team.
10. Jerry Jones
A former college football player, the majority owner of Comstock Resources Inc. acquired the Dallas Cowboys in 1989. The team has become the biggest chunk of Jones’ $12.7 billion fortune.
--With assistance from Jack Witzig and Craig Giammona.
