Yahoo Finance 25 Richest Billionaires in Sports Industry
In this article, we discuss the 25 richest billionaires in sports industry. To skip our detailed analysis of the sports industry, go directly to the 5 Richest Billionaires in Sports Industry.
Sports Industry Outlook
Sports is one of the most diversified industries in the world with sectors including esports, gambling, fitness, sporting clubs, media rights, and sporting goods and services, among others. According to a report by Research and Markets, the global sports market was valued at $480.12 billion in 2023 and is expected to reach $506.93 billion in 2024. By 2028, the market is estimated to cross $629.81 billion, growing at a compound annual growth rate of 5.6%. North America remains a key sports market, with football, basketball, baseball, and boxing as the most popular sports in the region. The North American sports Team and Club market generated gross revenue of around $84 billion in 2023, per a report by Mordor Intelligence. It is expected to grow at a compound annual growth rate of 6.2% from 2024 to 2029.
The growing sports market is attributed to potential investments in sponsorships and sports growing across new economies. For instance, the Middle Eastern countries are massively investing in Football. According to a report by Deloitte, Saudi Pro League clubs spent nearly $957 million in the 2023 summer transfer window. Saudi Pro League’s net spend during the 2023 transfer window was $907 million, which was significantly higher than the ‘big five’ leagues, only second to the Premier League’s net transfer spend of $1.39 billion. On March 8, Bloomberg reported that Saudi Arabia is preparing for a new phase of private sports investment in its local football clubs. Saudi Arabia’s sports minister, Bader Alkadi, pointed out that they expect to have another wave of privatization coming up soon.
Football is the most watched sport in the world. According to a report by Inside FIFA, almost 5 billion people watched the FIFA World Cup 2022 in Qatar. The final between Argentina and France achieved a global viewership of almost 1.5 billion, while the opening match of the World Cup gathered over 550 million viewers. Apart from the World Cup, the football leagues attain global viewership. Spanish clubs Real Madrid and Barcelona, and English club Manchester United (NYSE:MANU) are three of the most valuable football clubs in the world.
Sports around the world are expanding in different segments. The global sports betting market is on the rise. According to research by Goldman Sachs, the US sports betting market has reached $10 billion since the Supreme Court legalized the practice in 2018. The global sports betting market was valued at $83.65 billion in 2022, as per a report by Research and Markets. The global sports betting market is expected to reach $182.12 billion by 2030, growing at a compound annual growth rate of 10.3% from 2023 to 2030.
Among many sports segments, sports apparel continues to be a prominent one. NIKE, Inc. (NYSE:NKE) and adidas AG (OTC:ADDYY) are two of the biggest sportswear brands in the world. According to a report by Fortune Business Insights, the global sports apparel market was valued at $203.26 billion in 2023 and is projected to grow to $271.77 billion by 2030, at a compound annual growth rate of 4.24%.
Big Players in Sports Industry
The global sports industry is large and has many sectors. Tech companies are also expanding into the sports market such as Apple Inc. (NASDAQ:AAPL). NIKE, Inc. (NYSE:NKE) and DraftKings Inc. (NASDAQ:DKNG) are some of the largest companies in the sports industry.
Apple Inc. (NASDAQ:AAPL) is one of the biggest tech companies in the world. On February 21, the company announced its free app for iPhone, Apple Sports. Apple Inc.’s (NASDAQ:AAPL) sports application will allow sports fans to access real-time scores, stats, and more. On April 22, The New York Times in a report mentioned that Apple Inc. (NASDAQ:AAPL) and FIFA are close to making a TV deal. The deal is estimated to be valued at around $1 billion. Apple Inc. (NASDAQ:AAPL) is expected to have TV rights for a World-Cup-style competition that will be played for the first time in the US next summer.
NIKE, Inc. (NYSE:NKE) is one of the largest sports apparel brands in the world. On March 21, NIKE, Inc. (NYSE:NKE) reported earnings for the third quarter of 2024. The company posted earnings per share of $0.98, beating consensus estimates by $0.22. The revenue amounted to $12.43 billion, surpassing estimates by $136.50 million. The company saw a significant jump in its footwear segment. Here are some of the comments from NIKE, Inc.’s (NYSE:NKE) Q3 2024 earnings call:
“Performance footwear grew high single digits this quarter, with double-digit growth from $100-plus franchises, including Kobe and Ja in basketball, Metcon And Motiva in fitness and Structure, and Vomero in running. Women's fitness footwear grew double digits and key apparel franchises such as $100-plus leggings, continued scaling with strong sell-through. New product journeys from Book 1 to Vomero 5 and V2K, to Lunar Roam and Travis Scott Jordan Jumpman Jack drove consumer energy and ahead of a new wave of Nike Air innovation, the Air Zoom Alphafly 3 debuted with a marathon world record and sellout launches across multiple markets around the world.”
DraftKings Inc. (NASDAQ:DKNG) is one of the biggest sports betting companies in the world. On March 14, DraftKings Inc. (NASDAQ:DKNG) announced the launch of its gaming tool, My Stat Sheet. The new gaming tool allows players to assess, track, and interact with their stats to enhance their ability and empower them to make data-driven decisions. The new stat tool is available across DraftKings Inc.’s (NASDAQ:DKNG) products and Golden Nugget products.
Sports is one of the most diverse industries in the world. If you want to read more about the sports industry, you can head to the 20 most popular extreme sports in the US. With this context, let’s take a look at the 25 richest billionaires in the sports industry.
25 Richest Billionaires in Sports Industry
Our Methodology
We gathered the data for the 25 richest billionaires in the sports industry from the Forbes Real Time Billionaires Index. The list of billionaires from the sports industry is ranked in ascending order of billionaires' net worths, as of April 29.
25 Richest Billionaires in Sports Industry
25. Jerry Reinsdorf
Net Worth: $2.1 Billion
Jerry Reinsdorf ran a group that purchased the Chicago White Sox baseball team for $19 million in 1981 and still owns an estimated 19% stake. In 1985, Reinsdorf bought a controlling stake in the NBA's Chicago Bulls for $9.2 million. Jerry Reinsdorf is ranked 25th among the richest billionaires in the sports industry.
24. Mark Davis
Net Worth: $2.3 Billion
Mark Davis inherited the NFL team, Las Vegas Raiders, from his father Al Davis. Mark Davis has a net worth of around $2.3 billion.
23. Bernard Ecclestone
Net Worth: $2.4 Billion
Bernard Ecclestone made the ‘Formula One’ brand and took the niche racing competition into a global phenomenon. In 2017, Ecclestone sold the F1 to The Liberty SiriusXM Group (NASDAQ:LSXMA) for $4.4 billion. Bernard Ecclestone ranks among the richest billionaires in the sports industry.
22. Jim Crane
Net Worth: $2.4 Billion
Jim Crane ran an investment group that bought the MLB's Houston Astros for $615 million in 2011. Crane owns an estimated 40% stake in the Houston Astros. Jim Crane has a net worth of $2.4 billion and ranks 22nd among the richest billionaires in the sports industry.
21. Larry Tanenbaum
Net Worth: $2.5 Billion
Larry Tanenbaum is the chairman of Maple Leaf Sports & Entertainment, which owns sports franchises including the NBA's Toronto Raptors, the NHL's Toronto Maple Leafs, and MLS' Toronto FC. Larry Tanenbaum has a net worth of around $2.5 billion and is one of the richest people in the sports industry.
20. Vincent McMahon
Net Worth: $2.8 Billion
Vincent McMahon built the famous wrestling brand, WWE, which is owned by TKO Group Holdings, Inc. (NYSE:TKO). McMahon resigned from the company as executive chairman in January 2024. Vincent McMahon ranks 20th among the richest billionaires in the sports industry.
19. Lorenzo Fertitta
Net Worth: $3 Billion
In 2001, Lorenzo Fertitta and his brother, Frank, bought mixed martial arts brand UFC for $2 million. Both the brothers sold their stakes in UFC in August 2017 at a $5 billion valuation. Lorenzo Fertitta has a net worth of around $3 billion.
18. Frank Fertitta
Net Worth: $3 Billion
Frank Fertitta along with his brother, Lorenzo, sold UFC in 2017. In 2016, the Fertittas took their casino business, Red Rock Resorts, Inc. (NASDAQ:RRR), public. Frank Fertitta ranks 18th among the richest billionaires in the sports industry.
17. Theodore Leonsis
Net Worth: $3.1 Billion
Theodore Leonsis is the founder, majority owner, and CEO of Monumental Sports. The sports company owns several teams and arenas in Washington, D.C. Theodore Leonsis has a net worth of around $3.1 billion.
16. David Blitzer
Net Worth: $3.1 Billion
David Blitzer along with Apollo Global Management, Inc.’s (NYSE:APO) Joshua Harris bought the NBA’s Philadelphia 76ers. Later, they bought the NHL’s New Jersey Devils and the English soccer club Crystal Palace. David Blitzer is one of the richest people in the sports industry in 2024.
15. Robert Johnson
Net Worth: $3.2 Billion
In 2000, Robert Johnson bought the NFL team New York Jets for $635 million. With a net worth of $3.2 billion, Robert Johnson ranks 15th among the richest billionaires in the sports industry.
14. Michael Jordan
Net Worth: $3.2 Billion
The NBA legend, Michael Jordan, is considered to be one of the greatest players of all time. Jordan won the six titles with the Chicago Bulls. In September 2020, MJ joined DraftKings Inc. (NASDAQ:DKNG) as a special advisor to the board.
13. Dan Snyder
Net Worth: $4.4 Billion
Dan Snyder bought the NFL's Washington Commanders for $750 million in 1999 and sold the franchise for almost $6.05 billion in 2023. Dan Snyder is one of the richest billionaires in the sports industry.
12. James Irsay
Net Worth: $4.4 Billion
James Irsay inherited the NFL team Indianapolis Colts from his father, Robert Irsay. James Irsay has a net worth of around $4.4 billion and ranks 12th among the richest billionaires in the sports industry.
11. Jeffrey Lurie
Net Worth: $4.6 Billion
Jeffrey Lurie owns the NFL team, the Philadelphia Eagles. Jeffrey Lurie has a net worth of $4.6 billion and is one of the richest people in the sports industry.
10. Arturo Moreno
Net Worth: $4.9 Billion
Arturo Moreno ranks 10th among the richest billionaires in the sports industry. Moreno owns the baseball team, the Los Angeles Angels.
9. John Henry
Net Worth: $5.1 Billion
John Henry owns the sports holding firm, Fenway Sports Group, which has stakes in New England Sports Network and Nascar's Roush Fenway Racing. John Henry has a net worth of around $5.1 billion and ranks among the richest billionaires in the sports industry.
8. Janice McNair
Net Worth: $5.6 Billion
Janice McNair inherited an 80% stake in the NFL's Houston Texans following her husband’s death in 2018. Janice McNair has a net worth of around $5.6 billion.
7. Denise York
Net Worth: $5.8 Billion
Denise York’s family owns over 90% of the NFL team, the San Francisco 49ers. In 2000, York took over the 49ers' control from her brother, Edward Jr. Denise York is one of the richest people in the sports industry.
6. Gayle Benson
Net Worth: $6.1 Billion
Gayle Benson inherited a stake in the NFL New Orleans Saints and NBA New Orleans Pelicans from her late husband, Tom Benson. With a net worth of around $6.1 billion, Gayle Benson ranks sixth among the richest billionaires in the sports industry.
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Disclosure. None. 25 Richest Billionaires in Sports Industry is originally published on Insider Monkey.
