Forbes 11 Billionaire Owners

shrink · Post #1 » by **shrink** » Wed Jan 20, 2010 10:21 pm

I was going through their database of recent valuations for another project, but I thought this information might be useful here. Rich owners are more likely to ignore major losses when expenses outweigh revenues in their business/teams, so it may affect trades.

POR Paul Allen $11.5 billion
NJN Mikhail Prokhorov $9.5 billion
MIA Mickey Arison $4.3 billion
ORL Rick DeVos $4.2 billion
DEN E. Stanley Kroenke $2.7 billion
DAL Mark Cuban $2.4 billion
MIN Glen Taylor $2.2 billion
DET Karen Davidson $2.1 billion
NYK Charles Dolan $1.7 billion
MEM Michael Heisley $1.5 billion
IND Herb Simon $1.25 billion

princeofpalace · Post #2 » by **princeofpalace** » Wed Jan 20, 2010 10:22 pm

Interesting that you list Karen Davidson- unlike some other owners unfortunately she doesn't seem to care about basketball

shrink · Post #3 » by **shrink** » Wed Jan 20, 2010 10:24 pm

princeofpalace wrote:Interesting that you list Karen Davidson.....

Is that correct? I was under the impression she inherited it, but Forbes was a little "iffy" on her specifically.

princeofpalace · Post #4 » by **princeofpalace** » Wed Jan 20, 2010 10:28 pm

^
You missed my edit. Davidsons not an enthusiast like Cuban or Allen..

Post #5 » by **Manhattan Project** » Wed Jan 20, 2010 10:53 pm

shrink wrote:
NYK Charles Dolan $1.7 billion

How good the Knicks would be if this was true, it's his son James Dolan now. He was essentially given control of the Knicks in 99 and has run it poorly to say the least. Look at the correlation between him and the Knicks since then.

2008-09 D'Antoni (32-50)
2007-08 Thomas (23-59)
2006-07 Thomas (33-49)
2005-06 Brown (23-59)
2004-05 Wilkens (17-22), Williams (16-27)
2003-04 Lost Eastern Conference First Round Chaney (15-24), Williams (1-0), Wilkens (23-19)
2002-03 Chaney (37-45)
2001-02 Van Gundy (10-9), Chaney (20-43)
2000-01 Lost Eastern Conference First Round Van Gundy (48-34)
1999-00 Lost Eastern Conference Finals Van Gundy (50-32)
1998-99 Lost Finals Van Gundy (27-23)
1997-98 Lost Eastern Conference Semifinals Van Gundy (43-39)
1996-97 Lost Eastern Conference Semifinals Van Gundy (57-25)

dilbert719 · Post #6 » by **dilbert719** » Wed Jan 20, 2010 11:52 pm

It's also worth noting that, while Forbes likely considers Ed Snider to be owner of the 76ers (justifying leaving the team off the billionaire owners list), the actual majority owner of the team, when you trace things back up the scale, is Comcast. (Comcast owns 63% of Comcast-Spectacor, technically the owner of the Sixers, which Ed Snider is Chairman of.) As a result, the team isn't limited to Snider's resources, but has access to additional funding from Comcast.

Downtown · Post #7 » by **Downtown** » Thu Jan 21, 2010 1:21 am

I remember when Heisley bought the Vancouver Grizzlies. It was announced here in Vancouver that the team was on solid footing financially because Heisley was worth between 3- $5billlion. Now Forbes has him listed at $1.5bil.

jgustav1 · Post #8 » by **jgustav1** » Thu Jan 21, 2010 2:52 am

Donald Sterling should be somewhere on that list, his net worth is listed at 1.45 billion even after losing 28% of his net worth - the article is dated May 19, 2009.

http://www.malibutimes.com/articles/200 ... /news6.txt

Liqourish · Post #9 » by **Liqourish** » Thu Jan 21, 2010 6:24 pm

Yeah, Karen Davidson inherited all of her husbands estate and he was worth about $4.5 billion even after the economy dropped. I don't get where that $2.1 billion number is coming from.

rugby-hook · Post #10 » by **rugby-hook** » Sat Jan 23, 2010 9:35 am

Please note that Jerry Buss is not on the list and he is probably the least wealthy of the NBA owners. Shinn has more than Buss. Buss is in a race with the Maloofs to the bottom of the leagues wealth rankings. One should also note that only Cuban and Dolan have consistently paid the LT, while most of these owners cut payroll to avoid that cost.

Warspite · Post #11 » by **Warspite** » Sat Jan 23, 2010 11:10 am

Liqourish wrote:Yeah, Karen Davidson inherited all of her husbands estate and he was worth about $4.5 billion even after the economy dropped. I don't get where that $2.1 billion number is coming from.

Its called the Death Tax. When you die the govt gets about 50% of everything you own. There was a cap on it however so the numbers are off but then again Americans have lost 25% of there net wealth in the last 24 months and in that time the dollar has lost about 20% of its buying power as well. I suspect that many of the very wealthy have been decimated in there net wealth as there paper has lost its value. It very well could be that with the decline of real estate in MI that the palace, glass works have lost so much value that much of the wealth has been lost. My property values in my town are down 70% from 06 so many people here have lost a great deal of wealth but its mostly paper.

Liqourish · Post #12 » by **Liqourish** » Sat Jan 23, 2010 3:14 pm

edit: current affairs board for any political talk.

You might want to keep my response as it pertains to the thread. If you don't want talk about the billionaires wealth as it relates to NBA teams, you might want to close the whole thread instead of censoring my comment about a tax bill just because it mentioned Obama.

Oh, and it'd be nice to know who edited my post next time. :roll:

rugby-hook · Post #13 » by **rugby-hook** » Sat Jan 23, 2010 5:01 pm

Currently, Congress has to raise the national debt limit. There is a strong push to make permanent changes to the Death tax that were adopted by the previous administration. Such an effort will really help family farms and small business. Davidson should have done better tax planning to avoid being caught in this change in the law.

Some people think that Detroit, if sold to non-michigan interests, may be moving. Not a good situation, but where are the potential revenue streams after this last year in Detroit.

Liqourish · Post #14 » by **Liqourish** » Sun Jan 24, 2010 4:35 pm

rugby-hook wrote:Currently, Congress has to raise the national debt limit. There is a strong push to make permanent changes to the Death tax that were adopted by the previous administration. Such an effort will really help family farms and small business. Davidson should have done better tax planning to avoid being caught in this change in the law.

Some people think that Detroit, if sold to non-michigan interests, may be moving. Not a good situation, but where are the potential revenue streams after this last year in Detroit.

Don't talk about Congress, that belongs in current affairs!!

TradeMachine · Post #15 » by **TradeMachine** » Sun Jan 24, 2010 5:41 pm

Paul Allen was at $22 billion just a few years ago.

Post #16 » by **catalyst** » Sun Jan 24, 2010 7:00 pm

TradeMachine wrote:Paul Allen was at $22 billion just a few years ago.

Have your biggest holding file bankruptcy (Charter) and see where your net worth goes. He also has many venture capital and other high risk investments.

rugby-hook · Post #17 » by **rugby-hook** » Sun Jan 24, 2010 8:19 pm

If the inheritance tax is changed, then it will impact the NBA. In baseball, it was the inheritance tax issues that forced the O'Malley family to sell the Dodgers to Fox. Deductibility of salaries drives corporate ownership; taxes drive cash flow. Davidson may have to sell to cover the costs of inheriting her estate. Buss has the same problem in LA because the Lakers will not generate enough cash to pay the inheritance tax.