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- In February, MLB owners met in Florida, and discussed participating in the 2028 Olympics.
- MLB team owners come from diverse backgrounds, bringing unique business acumen to the sport.
- Many owners have significant wealth tied to their teams, showing their deep commitment to franchise success.
- The Lerner family, owners of the Washington Nationals, have a fortune primarily stemming from real estate.
Major League Baseball (MLB) is not just about the players and the games; it also involves significant financial investments by team owners.
These owners hail from diverse backgrounds, from self-made billionaires to large corporations, each bringing unique business acumen to the sport.
Their wealth sources vary, from hedge funds and real estate to the media and technology, illustrating the intersection of sports, business, and entrepreneurship in professional baseball.
Updated, February 2024: MLB owners were in the news in February, after MLB "Owners Meetings" in Lake Buena Vista, Florida hosted a presentation regarding the league's possible participation in the 2028 Olympics.
On February 8th, MLB.com explained: "Baseball and softball were added to the 2028 Summer Games late last year, which will mark the seventh time baseball has been an official medal sport at the Olympics."
The Owners Meetings occurred at the Four Seasons Resort Orlando, and MLB owners debated the upsides and downsides of opting in to the event. MLB Commissioner Rob Manfred was quoted as saying of the 2028 Olympics:
"I think the pros are just the potential for association between two great brands … the opportunity to make a splash and attract the kind of attention that would be associated with a team -- it would eventually be multiple teams, I suspect -- of the best players in Major League Baseball in a short tournament like that.
"You've heard me before: Love that combination of nationalism and sport. I'm good on that."
With respect to downsides, Manfred cited a punishing daily schedule of games, and the "logistics" of MLB participation.
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10 Hal Steinbrenner (New York Yankees)
Hal SteinbrennerEstimated Net Worth: $3.8 Billion
Hal Steinbrenner, co-owner of the New York Yankees, is a prominent Major League Baseball (MLB) figure.
Steinbrenner has a net worth of $3.8 billion; he, alongside his brother Hank, inherited the team from their late father, George Steinbrenner – a legendary figure in the sport and an icon in his hometown of New York City.
Since taking over in 2010, Hal has been instrumental in maintaining the Yankees' status as one of the most storied and successful franchises in baseball history.
Unlike many of his peers with diverse business interests, most of Hal's wealth is tied to the Yankees, underscoring his deep commitment to the legacy and continued success of the franchise.
9 The Ilitch Family (Detroit Tigers)
Chris Ilitch,President &CEO of Ilitch Holding Inc.
Estimated Net Worth: $3.8 Billion
The Ilitch family, owners of the Detroit Tigers, have a net worth of approximately $3.8 billion. Their fortune primarily stems from the founding of the renowned fast-food chain Little Caesars Pizza in 1959.
The family expanded their sports team ownership in 1992 by purchasing the Tigers from the then-current owner of Domino's Pizza. Following Mike Ilitch's passing in 2017, Marian Ilitch assumed ownership of Little Caesars.
The Tigers are part of a family trust, and the Ilitch family also owns the Detroit Red Wings hockey team, further cementing their significant presence in Detroit's professional sports landscape.
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Jim PohladEstimated Net Worth: $3.8 Billion
Jim Pohlad, owner of the Minnesota Twins, has a net worth estimated at $3.8 billion. He inherited his wealth (and the Twins) from his father, Carl Pohlad, a billionaire.
The Pohlad family's business empire, Pohlad Companies, encompasses over 30 diverse banking, real estate, and robotics businesses, primarily based in Minneapolis.
Jim and his brothers took over the family business after their father's passing in 2009.
He has been at the helm of the Twins since 1984, overseeing the team's operations and growth in the MLB.
7 William O. DeWitt Jr. (St. Louis Cardinals)
William DeWitt Jr. Estimated Net Worth: $4 Billion
William O. DeWitt Jr., the owner of St. Louis Cardinals, is a prominent figure in baseball, with a net worth of $4 billion.
DeWitt's father was a notable MLB executive born into a baseball-centric family. He acquired the Cardinals from Anheuser-Busch in 1995 with his business partner, Stephen Brauer.
DeWitt's business interests extend beyond baseball; he invests in Spectrum 7, a petroleum company, and the United States Playing Card Company (USPC, or USPCC).
His Cardinals' ownership reflects a deep connection to the sport, and a successful blend of passion and business acumen.
6 Charles Johnson (San Francisco Giants)
San Francisco Giants Estimated Net Worth: $5 Billion
Charles Johnson, the owner of the San Francisco Giants, is a prominent figure in Major League Baseball (MLB), with a net worth of approximately $5 billion.
He took ownership of the Giants in 1993, showcasing his business acumen and leadership skills. Johnson's wealth primarily stems from his successful tenure at Franklin Templeton Investments, a company he inherited from his father and significantly expanded.
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Upon retiring in 2013, he continued the family legacy by passing control to his son, George Johnson, maintaining the family's influential role in the financial and sports sectors.
5 Lerner Family (Washington Nationals)
Mark Lerner Estimated Net Worth: $6.6 Billion
The Lerner Family, owners of the Washington Nationals, are a prominent example of wealth and influence in Major League Baseball.
The Lerner Family has a net worth of approximately $6.6 billion; the family's fortune primarily stems from real estate.
Their patriarch, Ted Lerner, transformed a $250 loan into one of the largest real estate enterprises in the United States. Lerner Enterprises boasts significant holdings, especially in the exceptionally lucrative Washington D.C. area.
According to NASDAQ.com, the median home price in the Washington, D.C. metro area was just under $670,000 as of December 2022.
In 2018, Ted Lerner passed the Nationals' control to his son, Mark.
As of 2023, the family was exploring options to sell the team or bring in new investors, marking a potential new chapter for the franchise.
4 Lawrence and Paul Dolan (Cleveland Guardians)
Karen And Paul DolanEstimated Net Worth: $4.6 Billion
Lawrence and Paul Dolan, a father-son duo, are the principal owners of the Cleveland Guardians, a Major League Baseball team, and their combined net worth is approximately $4.6 billion.
Lawrence Dolan amassed a significant portion of this wealth through his stake in Cablevision, a cable television and telecom company majorly owned by his brother Charles.
Paul Dolan, initially a partner at an Ohio-based law firm, transitioned to the Guardians as vice president and general counsel in 2000, eventually rising to club president.
In 2013, the MLB recognized Paul as primary controller of the Guardians, marking a significant milestone in their team stewardship.
3 John Malone (Atlanta Braves)
Estimated Net Worth: $6.6 Billion
John Malone, owner of the Atlanta Braves, is a prominent figure in the media and telecommunications industry, with a net worth of approximately $6.6 billion.
He is the chairperson of Liberty Media, Liberty Global, and Liberty Interactive, through which he gained ownership of the Braves.
Before his tenure at Liberty Media, Malone was president and CEO of Tele-Communications Inc. (TCI) from 1973 to 1996.
Additionally, he is a significant real estate investor and has incrementally become one of the largest private landowners in the United States, owning over two million acres, primarily in Maine.
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Estimated Net Worth: $16 Billion
New York Mets owner Steve Cohen is a significant MLB figure with a net worth of around $16 billion.
Apart from finance, he is known for his extensive art collection, valued at over $1 billion, showcasing his diverse interests.
Cohen acquired majority ownership of the Mets in 2020, marking a new era for the team. Cohen's wealth primarily stems from his successful career in finance, and can mainly be credited to the success of his hedge fund companies.
Cohen founded SAC Capital in 1992, which managed substantial assets due to legal issues before its closure. Cohen then established Point72, continuing his financial endeavors.
1 Rogers Communications (Toronto Blue Jays)
Franchise Owner: | Rogers Communications |
CEO: | Edward S. Rogers III |
CEO's Estimated Net Worth : | $11.5 Billion |
Rogers Communication Market Capitalization ("Market Cap"): | $22.8 Billion |
Rogers Communications New York Stock Exchange (NYSE) Ticker: | $RCI |
Price Per Share (As Of November 17th 2023): | $42.79 (+1.40 Percent) |
$RCI 52-Week High: | $50.16 |
$RCI 52-Week Low: | $36.55 |
Price-Earnings Ratio: | 28.08 |
Year-Over-Year Change (As Of November 17th 2023): | +$0.17 (+0.40 Percent) |
Rogers Communications, a prominent Canadian media and communications company, owns the Toronto Blue Jays; CEO Edward Rogers III has a net worth estimated at around $11.5 billion.
Headquartered in Toronto, Ontario, the company's interests extend beyond baseball, encompassing wireless communications and cable television.
They also own Sportsnet One, the network broadcasting Blue Jays games, and have naming rights to the team's stadium, Rogers Center.
Additionally, Rogers Communications holds stakes in other major Toronto sports teams, including the Toronto Raptors and the Toronto Maple Leafs.
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