The NBA is a never-stopping money-making machine, so it’s not much of a surprise to see that some of the wealthiest individuals on Earth also happen to be some of the richest NBA owners in 2024.
That’s why it’s even more mind-boggling to see some of them are so reluctant to go over the salary cap and pay the luxury tax (yes, we’re looking at you, Jerry Reinsdorf).
Richest NBA Owners 2024
Buying an NBA team has proved to be quite a lucrative transaction. Michael Jordan sold for billions what he bought for millions, and with an expansion looming large, a new TV rights deal just around the corner, and the league reaching more and more corners of Earth, that’s just going to keep being more of a reality as the years go by.
With that in mind, we’re going to dig deep into the league’s records to let you know all about the 10 richest NBA owners 2024, those NBA owners net worth, and let you know about the current state of their teams.
10. Herb Simon — Pacers
The Indiana Pacers are fresh off a trip to the Eastern Conference Finals, and while some thought they caught plenty of lucky breaks, the reality is that the future seems quite bright for Rick Carlisle‘s team. With a young movement led by Tyrese Haliburton, Bennedict Mathurin, and Andrew Nembhard, this team should be very good for years to come.
That’s great news for Herb Simon, a real estate mogul worth an estimated $2.4 billion. He’s the founder of the Simon Property Group, which happens to be the largest trust of its kind in the U.S. On top of owning the Pacers, he also owns Kirkus Reviews and the WNBA’s Indiana Fever.
9. Jimmy Haslam — Bucks
The Milwaukee Bucks were bottom-feeders for most of their history, but they’ve now got back to prominence. With Giannis Antetokounmpo at the helm, they’re a perennial threat to come out of the Eastern Conference, as they proved by winning an NBA championship just a couple of seasons ago.
Their owner, Jimmy Haslam, has a net worth of $4 billion, and he’s been quite involved in the sports industry for a while now. On top of being the CEO of the Pilot Flying J truck stop chain, he also owns the MLS’s Columbus Crew and NFL’s Cleveland Browns.
8. Tom Gores — Pistons
It’s been more than a long while since the Detroit Pistons were a competitive team. And despite their plethora of young talent, it still seems like they’re years away from making another run at the playoffs, which is why they parted ways with Monty Williams and decided to shake off their front office. Hopefully, it’ll work out for Cade Cunningham.
That’s not great news for Tom Gores, who’s currently worth $6 billion. He’s the founder, CEO, and Chairman of Platinum Equity, a private equity firm located in Beverley Hills. He acquired the team through his company before buying their shares to become the sole owner.
7. Antony Ressler — Hawks
It’s the dawn of a new era for the Atlanta Hawks. With Dejounte Murray gone and Trae Young likely to follow in his steps, first overall pick Zaccharie Risacher will be in charge of leading this team to a new era. However, it might get worse before it gets any better, and they’ll have to be patient.
Also known as Tony Ressler, the Hawks’ owner made a fortune off the private equity business. He’s got a net worth of $8 billion. Ressler co-founded Ares Management and Apollo Global Management, which hold a combined $800 billion in assets under management.
6. Tilman Fertitta — Rockets
The Houston Rockets have clearly known how to make the most of the assets they got in return for James Harden. Their young team looks ahead of schedule, and it shouldn’t be long before they get back to championship contention, especially if Jalen Green and Alperen Sengun continue their breakout and coach Ime Udoka keeps establishing his hardnosed competitive spirit and pesky defense.
That should bode well with a guy like Tilman Fertitta, whose third cousins used to own the UFC. He’s got an estimated net worth of a whopping $9 billion, and he’s currently the CEO, owner, and chairman of Landry’s, Inc. He bought the Rockets for a then-record $2.2 billion.
5. Micky Arison — Heat
While no longer one of the powerhouses in the Eastern Conference, the Miami Heat will always be a force to be reckoned with for as long as Pat Riley and Erik Spoelstra are there. Their tough, winning culture — as well as the nice weather and city — have lured star free agents for years, and it shouldn’t take long before they land another star.
Unsurprisingly, the team is owned by — literally — the wealthiest person in the great state of Florida, or at least he was for years. He owns Carnival Corporation, the largest cruise ship company on Earth, which gives him a net worth of a whopping $10 billion.
4. Joseph Tsai — Nets
In hindsight, signing Kevin Durant and Kyrie Irving and trading for James Harden was a disaster for the Brooklyn Nets, but that’s a mistake everybody would’ve made. At least, they’re finally heading in the right direction by committing to a full-scale rebuild and recouping some of their draft assets back.
Their owner, Joe Tsai, has taken a hands-on approach in some of the decision-making process. He’s currently worth $10.5 billion, and he’s known for being the co-founder and CFO of Alibaba. He also served as Alibaba Group Holding Limited’s CFO until 2013.
3. Stan Kroenke — Nuggets
Not so long ago, not many people talked about the Denver Nuggets. Now, they’re one of the perennial championship contenders in the NBA, and a lot of that has had to do with Nikola Jokic and Jamal Murray, but also with the way the Kroenke family has allowed the front office to do its job and be patient with coach Mike Malone.
Stan Kroenke, their owner, is a sports mogul worth $12 billion. His holding company, Kroenke Sports & Entertainment, owns Arsenal FC, the NFL’s Los Angeles Rams, the MLS’s Colorado Rapids, and several other teams. They also own SoFi Stadium in California.
2. Dan Gilbert — Cavaliers
The Cleveland Cavaliers haven’t been championship contenders since LeBron James left, and that’s not likely to change any time soon. Still, they should continue to be a postseason team with Donovan Mitchell at the helm, even if a second-round exit is their ceiling.
Even if that’s the case, Dan Gilbert should be just fine, as he’s worth a staggering $32 billion. He’s the founder and CEO of Rock Financial, now called Quicken Loans. The company now operates under Rocket Companies, one of the largest mortgage firms on the planet.
1. Steve Ballmer — Clippers
The Los Angeles Clippers have gone to great lengths to shake off the Los Angeles Lakers’ dominance in the city, but to no avail. Not even a new state of the art arena in Inglewood will be enough to change that, especially now that Paul George has left and they might not be as good as they were last season.
This team is owned not only by the richest among the current richest owners in the NBA but also by one of the richest people on Earth. Period.
Steve Ballmer is worth $157 billion, mostly thanks to his 4% stake in Microsoft, the company he co-founded with Bill Gates.
