Net Worth: NBA Owners

[playstation]

http://www.usatoday.com/sports/basketball/nba/2005-salary-owners.htm

also has a ton of info on each one. 6 ivy-leaguers, a couple high school graduates...

also has player/coach salary info...

 

[asudevil83]

why thank you.....i could have used this about 2 months ago when i was arguing how Sarver isnt even near the top in terms of riches.

 

[elindholm]

Damn those are some rich dudes. I had no idea that Cuban was so low on the list.

Edit: Speaking of Cuban, this is what it says about him:

In 1995, he founded Broadcast.com, which became a major player in multimedia and sold it to Yahoo! for $5.7 billion in 1999.

If he sold it for $5.7 billion, how come he's worth only $1.3 billion now? Has he lost 80% of his fortune?

 

[thegrahamcrackr]

Damn those are some rich dudes. I had no idea that Cuban was so low on the list.

Edit: Speaking of Cuban, this is what it says about him:

In 1995, he founded Broadcast.com, which became a major player in multimedia and sold it to Yahoo! for $5.7 billion in 1999.

If he sold it for $5.7 billion, how come he's worth only $1.3 billion now? Has he lost 80% of his fortune?

He might not have been a major owner, perhaps sold all of his stock for investment capital.

 

[asudevil83]

Damn those are some rich dudes. I had no idea that Cuban was so low on the list.

Edit: Speaking of Cuban, this is what it says about him:

In 1995, he founded Broadcast.com, which became a major player in multimedia and sold it to Yahoo! for $5.7 billion in 1999.

If he sold it for $5.7 billion, how come he's worth only $1.3 billion now? Has he lost 80% of his fortune?

god, that would be hysterical. their must be something that they arent using to calculation the net value of each person (which i cant for the life of me think of what they'd leave out).

or he was a part of a partnership that sold off that part sold to Yahoo

 

[Evil Ash]

Damn those are some rich dudes. I had no idea that Cuban was so low on the list.

Edit: Speaking of Cuban, this is what it says about him:

In 1995, he founded Broadcast.com, which became a major player in multimedia and sold it to Yahoo! for $5.7 billion in 1999.

If he sold it for $5.7 billion, how come he's worth only $1.3 billion now? Has he lost 80% of his fortune?

Well part of it can be explained due to the fact that there were 3 owners for Broadcast.com. Cuban and 2 of his buddies created the site so that they could listen to Indiana Hoosier games over the net. As we all know it ended up working brilliantly for them

However $5.7 Billion divided by 3 is still $1.9 billion. So where did the other $600 million go? I don't believe the Mavs cost that much to buy

 

[lancelet's cousin]

I'm sure Cuban went public early on to get his business off the ground. Very few peple own a large business outright. Bill Gates, the last time I read, owns 39% of Microsoft. His net worth is whatever that 39% of Microsoft stock is worth on a given day. At one time it was $100 billion, and now I think it is $40 billion. Cuban's partnership with three other people has less to do with his net worth than the fact that he had to go public (sell the majority of his company via stock shares to investors).

 

[JHall]

Well part of it can be explained due to the fact that there were 3 owners for Broadcast.com. Cuban and 2 of his buddies created the site so that they could listen to Indiana Hoosier games over the net. As we all know it ended up working brilliantly for them

However $5.7 Billion divided by 3 is still $1.9 billion. So where did the other $600 million go? I don't believe the Mavs cost that much to buy

Taxes.

 

[jibikao]

I know a lot of people hate Cuban and even sometimes I find him very annoying too but I think he is one of the best basketball owners out there.

He LOVES his team and not just how much his team is worth. He attends every single game and travels with them.


Not to be too insulting but some of the owners out there just don't look like they are "into" basketball games. They just sit there and see who wins. They only have the $$$ on their faces.


I remember I went to Hawks website once and they post a picture of the new owners. An I swear none of them look like they know what "sports" is. lol

 

[lancelet's cousin]

I doubt the company was divided 3 ways evenly, as that almost never happens.

As I said, Cuban, like nearly every other billionaire in the country, owned shares of the company he and his partners founded. The value of the company isn't the value of Cuban, just like the value of Microsoft isn't the value of Bill Gates+Paul Allen-it's much higher. As Microsoft had to go public to finance their massive growth many years ago.

In other words, he and his friends owned 100% of a much smaller, up-and-coming company. When they felt they needed a large amount of capital to grow, they had a law firm or other organization that specializes in IPO's (initial public offering) underwrite his company. That entity determines the market value of the company and divides that value among shares of stock, most likely with Cuban remaining the largest shareholder-possibly around 23% (just going off of the $5.7bn figure; 1.3/5.7).

Or maybe he and the other broadcast.com shareholders were given a combination of cash and Yahoo stock that equaled $5.7bn, which would be much less now that dot.com stocks are worth a fraction of what they were then.

 

[JPlay]

Yeah I thought Cuban was worth more too.

Paul Allen is ridiculously rich and I heard he's lost a lot of money investing in cable and stuff too.

I've heard stories about his wild extravagances.

 

[Kolo]

Paul Allen is ridiculously rich and I heard he's lost a lot of money investing in cable and stuff too.

I've heard stories about his wild extravagances.

I just got back from Cabo San Lucas a few days ago, and Paul Allen's "yacht" Tatoosh was in the bay most of the time we were there. It's obnoxious--a chopper on the helipad, what looked like a forty foot boat attached to one side which looked like it dropped down to the sea on a hydraulic lift, a bunch of satellite dishes and radars and one of those big silver globes (like on aircraft carriers) on top, looked like it was at least 200-250 feet long. We met a couple who met the captain in a local bar, who told them it was Allen's smaller yacht, the one his parents use most of the time--full-time crew of 30--Tatoosh was on its way to Barbados for some reason.

 

[thegrahamcrackr]

So where did the other $600 million go? I don't believe the Mavs cost that much to buy

His owenership stake in the Mavs would go into his net worth I think.

 

[goldseraph]

How can the Maloofs only be worth 100 million... don't they own a Vegas hotel as well as the Kings?

 

[thegrahamcrackr]

How can the Maloofs only be worth 100 million... don't they own a Vegas hotel as well as the Kings?

Yah they own the palms. That is 100 million each also. Casinos have lots of investors typically.

 

[lancelet's cousin]

Don't forget to include debt when figuring net worth. That Vegas hotel was almost certainly financed. It may well be a $500 million hotel with a $300 millon debt load, for instance. Trump still owned billions of dollars of property while filing for bankruptcy-when he had a negative net worth.