14 NBA owners on Forbes 400 American richest list. Looks as if Blazers win this one!

http://probasketballtalk.nbcsports....-owners-on-forbes-400-richest-americans-list/

If you’re part of the one percent, an NBA team can make a nice toy.

At least it seems that way after Forbes released its list of the 400 richest Americans on Monday and the list contains 14 NBA owners, something pointed out by Darren Rovell of ESPN. By the way, to answer your first question it is still Bill Gates. As it has been for two decades now.

At the top of the list of wealthy NBA team owners Microsoft co-founder Paul Allen, who owns the Trail Blazers (as well as the Seattle Seahawks of the NFL) and is worth $15.8 billion.

The other owners on the list are: Richard DeVos (Orlando Magic, $6.3 billion), Micky Arison (Miami Heat, $5.9 billion), Stan Kroenke (Denver Nuggets, $5.3 billion), Dan Gilbert (Cleveland Cavaliers, $3.9 billion), Charles Dolan (New York Knicks, $3.3 billion), Tom Gores (Detroit Pistons, $2.7 billion), Mark Cuban (Dallas Mavericks $2.5 billion), Josh Harris (Philadelphia 76ers, $2.5 billion), Robert Pera (Memphis Grizzlies, $1.95 billion), Herb Simon (Indiana Pacers, $1.95 billion), Donald Sterling (Los Angeles Clippers, $1.9 billion), Glen Taylor (Minnesota Timberwolves, $1.7 billion), and Tom Benson (New Orleans Pelicans, $1.3 billion).

Because this is a list of Americans Nets owner Mikhail Prokhorov is not on it. However, if he were he would still be second to Allen, Forbes has estimated Prokhorov’s wealth at $13.5 billion. He’s just more willing to spend it on the luxury tax than anyone else.

Interesting note: Phil Knight, the chairman of Nike and one of the more powerful figures in NBA circles because of his shoes, is richer than any NBA owner. Knight is worth $16.3 billion, according to Forbes. It’s gotta be the shoes! (Also, that is really good news for University of Oregon athletics.)

 

Re: 14 NBA owners on Forbes 400 American richest list. Looks as if Blazers win this

And all of them are billionaires--not millionaires. How times have changed . . .

 

Re: 14 NBA owners on Forbes 400 American richest list. Looks as if Blazers win this

Could have swore Larry Ellison owns the Warriors. The last time I checked he was worth 40+ bil.

 

Re: 14 NBA owners on Forbes 400 American richest list. Looks as if Blazers win this

Gotcha. Eventually I would have just googled it. But thanks for the tidbit.

 

Re: 14 NBA owners on Forbes 400 American richest list. Looks as if Blazers win this

Wow Phil Knight is more wealthy than any NBA owner. I'm surprised at that. Knew he was obviously rich but didn't think he was that rich. Looks like my Beavs are going to continue to be a longshot against those Ducks for quite a while longer.

 

Re: 14 NBA owners on Forbes 400 American richest list. Looks as if Blazers win this

I wonder what the Spurs owner or some of the less wealthy owners are worth?

 

Re: 14 NBA owners on Forbes 400 American richest list. Looks as if Blazers win this

It's weird to see notorious cheapskates like the Clips, Grizzlies, and Nuggets on the list.

 

Re: 14 NBA owners on Forbes 400 American richest list. Looks as if Blazers win this

Wasn't Allen closer to $20 billion several years back (and I believe it dipped to $8-10 billion a few years ago)?

The fluctuation isn't surprising given that much of his fortune is tied to securities/stocks and given the economy the past several years, just trying to recollect.

 

Re: 14 NBA owners on Forbes 400 American richest list. Looks as if Blazers win this

I believe at his peak, Allen was the 6th richest man in the WORLD and worth $41 billion.

BNM

 

Re: 14 NBA owners on Forbes 400 American richest list. Looks as if Blazers win this

There was a time Allen had almost 50 billion.

 

Re: 14 NBA owners on Forbes 400 American richest list. Looks as if Blazers win this

And then came Bob Whitsitt.

 

Re: 14 NBA owners on Forbes 400 American richest list. Looks as if Blazers win this

When did he lose 50 Billion dollars? I don't believe he's ever had that much.


Sent from HCPs Baller-Ass iPhone 5...FAMS!

 

Re: 14 NBA owners on Forbes 400 American richest list. Looks as if Blazers win this

The share price of Microsoft has stagnated since 2000. Believe me. It hurts.

 

Re: 14 NBA owners on Forbes 400 American richest list. Looks as if Blazers win this

I always knew our owner could beat up the other owners on the block.

 

Re: 14 NBA owners on Forbes 400 American richest list. Looks as if Blazers win this

Actually, selling his shares of Microsoft and investing in several high risk ventures (Charter Cable, for one) is the biggest reason for Allen's declining wealth. In 1999 and early 2000, Allen had a net worth in excess of $30 billion (including over $22 billion in Microsoft stock). In 2000, he started selling off his Microsoft shares (allegedly after overhearing Bill Gates and Steve Ballmer discussing how to regain control of his shares after Allen died - he was diagnosed with lymphoma in 2000).

In 2006, Allen's net worth was less than half of what it was in early 2000. He basically lost $15 billion, nearly half his fortune, in six years. And, if he would have just sat on that $22 billion in Microsoft stock, by 2006, he would have been worth $78 billion.

Here's a few links discussing Allen's net worth between 1999 and 2006:

http://www.businessweek.com/stories/2004-05-02/the-12-billion-education-of-paul-allen

http://news.cnet.com/Gates-king-of-Forbes-400-richest-again/2100-1017_3-273663.html

http://www.fool.com/specials/1999/sp990617allen.htm

http://www.mathewingram.com/work/2006/04/09/poor-paul-allen-only-has-15-billion/

BNM

 

Re: 14 NBA owners on Forbes 400 American richest list. Looks as if Blazers win this

Well it sure doesn't seem like Bill Gates is hurt by it.

 

Re: 14 NBA owners on Forbes 400 American richest list. Looks as if Blazers win this

Other billionaires step on toes to maximize their wealth. Allen is content to give away his to many causes.

Even with share reinvestment, MSFT did not more than triple (78/22), as you claim, between 2000 and 2006. It was closer to a third than a triple.

http://investing.money.msn.com/investments/charts?symbol=US:MSFT#{"zRange":"10","startDate":"1900-1-1","endDate":"2013-9-18","chartStyle":"mountain","chartCursor":"1","scaleType":"0","yaxisAlign":"right","mode":"pan"}

 

Re: 14 NBA owners on Forbes 400 American richest list. Looks as if Blazers win this

Yeah looking at their share price I have no idea where BNM is getting those numbers from. MSFT value peaked in 1999 although its been very stable the last decade. MSFT has paid a total of $8.23 in dividends per share since 2003 so that should really be added to the value as well.

I think it would've been quite foolish for Allen to keep the majority of his money in Microsoft. Talk about the opposite of diversification. It would exponentially increase his financial risk while giving him zero expected gain. Sure we now know Microsoft has been a safe investment but at the time nobody could known the future.

Theres some interesting quotes in those articles BNM links:

Hmmm so that type of crap is how Miles became Allens favorite player and the reason why Patterson gave him that stupid contract. Not sure I want this guy involved in any way with basketball roster decisions.

Well thats where BNM got his figures. So for those figures they must be assuming Paul Allen kept all of his original shares of Microsoft and never diversified. If Microsoft had gone under he’d be worth $0 so I’m sure he is happy to have $13 billion.

It sounds like Allen mostly got into trouble with Charter, dumping $12 billion into them. That was a terrible investment, which is fine to take a gamble on here or there; but he should’ve learned the advantages of basic diversification 101 first.

 

Re: 14 NBA owners on Forbes 400 American richest list. Looks as if Blazers win this

Well I found my answer link

For all the talk of how great the Spurs organization is they don't seem to do a very good job at all of putting money in the owners pocket.

Tim Duncan has been paid $214 million and is still earning $10 million a year. Parker and Ginobili have both earned over $90 million each.