Wu-Tang clan said it best, ‘Cash Rules Everything Around Me.’
The famous hip hop group’s hit song, C.R.E.A.M., can be applied to pretty much every walk of life, in every crevice of the universe.
Maybe none more so than the National Basketball Association, where the franchise’s owners, now referred to as governors, all have an embarrassment of riches and wealth.
However, according to Forbes, some owners are in a class of their own when it comes net worth and finances.
Without further ado, here are the top 10 richest owners in the NBA.
10. Micky Arison, $8.8bn – Miami Heat
Arison is currently the chairman of Carnival Corporation, the world’s largest cruise ship operator, where he and his family found their wealth. He spent 34 years as CEO.
Arison took majority ownership of the Miami Heat from his father in 1995, and has steered the franchise to consistent and sustained success over his watch. Sure, he can thank Pat Riley, Dwayne Wade, LeBron James, Chris Bosh and Erik Spoelstra, but there’s a reason all those guys have found and contributed success to the franchise. It’s because Arison has ran the Heat as a world class organization under his watch.
Championships: 2006, 2012, 2013
Finals Appearances: 2006, 2011, 2012, 2014, 2020, 2023
Conference Finals: 1997, 2005, 2006, 2011, 2013, 2014, 2020, 2022, 2023
9. Joseph Tsai, $9.3bn – Brooklyn Nets
Tsai is a cofounder of Alibaba Group, China’s largest retail commerce business.
Tsai bought the Brooklyn Nets in 2019, and has not found much success in his early tenure, with the highlight being the failed experiment of teaming up Kevin Durant, Kyrie Irving and eventually James Harden. The Nets are currently in a rebuild mode, led by the enigma that is Ben Simmons. In other words, Tsai has a long way to go in making his franchise a competitive contender.
Championships: Zero
Finals Appearances: Zero
Conference Finals: Zero
8. Tom Gores, $9.4bn – Detroit Pistons
Gores made his wealth through private equity, where he oversees more than 40 companies with around $48 billion in assets. He manages all of his assets this through his private equity firm, Platinum Equit.
Gores bought the Detroit Pistons in 2011, but didn’t become majority owner until 2015. His most notable contribution hasn’t been the winning on the court, of which there hasn’t been much of, but by moving the Pistons back to downtown Detroit and building a state-of-the-art practice facility and corporate headquarters.
Championships: Zero
Finals Appearances: Zero
Conference Finals: Zero
7. Tilman Fertitta, $10.2bn – Houston Rockets
Fertita made his fortune through the dining, hospitality, entertainment and gaming industries. He owns Fertitta Entertainment, Landry’s and the Golden Nugget Casinos.
Fertita bought the Houston Rockets in 2017 and found great regular season success, led by James Harden. Unfortunately for Fertita, Harden was never able to get them over the hump and out of the Western Conference. He is hoping head coach Ime Udoka and this new young core of Rockets can lead the way.
Championships: Zero
Finals Appearances: Zero
Conference Finals: 2018
6. Antony Ressler, $11.6bn – Atlanta Hawks
Ressler gained his fortune when he cofounded Apollo Global Management and then Ares Management, two giant private equity forms.
Ressler acquired the Atlanta Hawks in 2015. In the near decade as majority owner, the Hawks have been an above average basketball, with not too many notable accomplishments. The watermark high during his ownership so far, was Trae Young leading his squad to the Eastern Conference Finals in 2021 and losing to Giannis Antetokounmpo and the Milwaukee Bucks in six games.
Championships: Zero
Finals Appearances: Zero
Conference Finals: 2021
5. Robert Pera, $13.6bn – Memphis Grizzlies
Pera is the founder and CEO of wireless equipment maker Ubiquiti Networks.
Pera purchased the Memphis Grizzlies in 2012, amidst the beginning stages of the most successful period in franchise history, ‘the Grit ‘n Grind era.’ Pera now has superstar Ja Morant to lead the way into what he is hoping is another successful run.
Championships: Zero
Finals Appearances: Zero
Conference Finals: 2013
4. Stan Kroenke, $16.9bn – Denver Nuggets
Kroenke’s wealth comes from a diverse portfolio, but the majority of it is from his real estate enterprises and marrying into the richest family in the United States, the owners of Walmart, the Walton family.
Kroenke bought the Denver Nuggets in 2000, along with the Colorado Avalanche, and has since overseen great success. He won his first NBA championship with the Nuggets in 2023. Along with the two Denver pro teams, Kroenke also owns Arsenal and the Los Angeles Rams.
Championships: 2023
Finals Appearances: 2023
Conference Finals: 2009, 2020, 2023
3. Dan Gilbert, $28.1bn – Cleveland Cavaliers
Gilbert found his wealth when he cofounded the largest mortgage lender in the United States, what is now known as Quicken Loans.
LeBron James was drafted by the Cleveland Cavaliers in 2003. Gilbert bought the team in 2005. Talk about great timing. While only having one championship under his ownership, and initially villainizing James when he left for Miami, Gilbert has since earned back some of the goodwill from the city of Cleveland, which he can thank James and 2016 for.
Championships: 2016
Finals Appearances: 2007, 2015, 2016, 2017, 2018
Conference Finals: 2007, 2009, 2015, 2016, 2017, 2018
2. Miriam Adelson & Patrick Dumont, $34.6bn – Dallas Mavericks
Adelson is the wife of the late, Sheldon Adelson, who built a casino empire in Las Vegas, that lead to their unfathomable wealth.
Adelson and her son-in-law, Dumont, purchased a majority share of the Dallas Mavericks in 2023, from longtime owner, and eccentric personality, Mark Cuba. Dumont is the Mavericks’ governor and representative to the NBA Board of Governors. They immediately found instant success, led by superstar Luka Dončić, leading the team to the 2024 NBA Finals.
Championships: Zero
Finals Appearances: 2024
Conference Finals: 2024
1. Steve Ballmer, $121.3bn – Los Angeles Clippers
The richest owner in the NBA, is tech mogul Steve Ballmer.
The former CEO of Microsoft, where he accumulated his fortune, purchased the Los Angeles Clippers in 2014, after Donald Sterling was forced to sell the team.
The hands-on owner has since opened up a new arena for the Clippers, the Intuit Dome, in Inglewood, finally given the franchise its’ own arena. The results on the court have been decent, relative to Clippers’ standards, but the owner, with one of the biggest personalities in the entire league, hasn’t quite been able to see his team reach the Finals.
Championships: Zero
Finals Appearances: Zero
Conference Finals: 2021
There you have it, the top 10 richest owners in the NBA.
Of course the list is ever fluid, as these multibillionaires’ business ventures and investments can go up and down, soar and sink, but it’s safe to say, no one will be catching Ballmer.
