Like other businesses and companies, owners of Major League Baseball (MLB) teams are also team leaders. Although they may not directly run a specific part of the team, they oversee all aspects of the team and provide the funding needed for the team’s work. The 30 MLB owners have a wide range of net worth, from $400 million to $16 million. Today we will know the Top 10 Richest MLB Owners and Their Teams. Let’s have a look.
Here are the Top 10 Richest MLB Owners along with their names.
10. Hal Steinbrenner
As the tenth-richest owner, Hal Steinbrenner has a net worth of $3.8 billion and is in charge of baseball’s most famous franchise, the New York Yankees. Hal is the son of the Yankees’ previous owner, the legendary George Steinbrenner. When their father passed away in 2010, Hal and his brother Hank inherited ownership of the team. The brothers had actually taken control of the team three years earlier when George Steinbrenner handed over control of the team to them due to his ill health. Unlike most of their fellow owners, Hal and Hank do not have many outside business ventures, so most of their wealth comes from the Yankees.
09. IIitch Family
Another family ownership group, the Ilitch family owns the Detroit Tigers and has a net worth of approximately $3.8 billion, similar to that of Jim Follad. Mike and Marine IIIch made the bulk of their money by founding the famous fast food restaurant chain Little Caesars Pizza in 1959. Ironically, he purchased the Tigers in 1992 from the owner of their pizza joint rival, Domino’s. Unfortunately, Mike passed away in 2017, but Marion still owns Little Caesars. As for the Tigers, they are currently held in a family trust with the Ilitch family. The IIIitch family also owns the Detroit Red Wings hockey team, one of Detroit’s major pro sports teams.
08. Jim Pohlad
The eighth richest owner on this list is Minnesota Twins owner Jim Pohlad, who has a net worth estimated at $3.8 billion. Jim is one of three brothers who inherited their father’s company, Pohlad Companies. His father, Carl Polhad, was a self-made billionaire, and his company is made up of more than 30 businesses in the Minneapolis area. Their businesses cover a wide area. Their businesses cover a wide range of sectors from banking to robotics to real estate. Jim and HI’s two brothers took over the company after their father passed away in 2009. Jim has been a long-time owner of the Twins, however, having owned the team since 1984.
07. Williim Dewitt Jr.
With a net worth of $4 billion, William DeWitt Jr. is the owner of the St. Louis Cardinals. DeWitt was born into a successful baseball family, as his father, Bill DeWitt, was a longtime MLB executive. With his business partner, Stephen Brauer, William purchased his hometown Cardinals team from Anheuser-Busch in 1995. While the Cardinals are his main focus, he also has stock in other baseball teams including the Baltimore Orioles, and the Cincinnati Stingers hockey team. For his business side, DeWitt has acquired Spectrum 7, a petroleum company, and the U.S. Invested in a playing card company.
06. Charles Johnson
Charles Johnson takes the next spot on this list, as he has a net worth of around $4.4 billion. Johnson has owned the San Francisco Fiends since 1993. Charles demonstrated his leadership and business acumen when he took over his father’s company, the CEO of Franklin Resources, as it is also known, which had assets of approximately $2.5 billion. When Johnson retired in 2013, the firm was managing more than $800 billion of assets. After his retirement, he continued the family tradition and handed control of the company to his son, George Johnson.
05. Lerner Family
Although they are considering selling their team, the current owner of the Washington Nationals is the Lerner Family, with a net worth of approximately $4.5 billion. Ted Lerner helped the family earn their fortune by turning a $250 loan into one of the largest real estate companies in the United States. Today, Lerner Enterprises has a Washington D.D. One of the largest real estate holdings in the U.S. Area. As he was getting older, Ted transferred control of the Nationals to his son Mark in 2018. In April of 2022, Mark announced that the family was considering either selling the team or adding new investors.
04. Lawrence and Paul Dolan
Father-son combination, Lawrence and Paul Dolan are the majority owners of the Cleveland Guardians and have a combined net worth of approximately $4.6 billion. The duo’s father, Lawrence Dolan, earned most of his wealth from his stock in the Cablevision company, of which his brother Charles is the majority owner. As for his son Paul, he started out as a partner at an Ohio-based law firm before moving to Guardians as vice president and general counsel in 2000. Eventually, Paul will work hard to become president of the club. In 2013, with his father aging, MLB voted to name Paul as the Gordians’ primary controller.
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03. John Malone
John Malone, the owner of the Atlanta Braves, has a net worth of around $6.6 billion. Malone is also the chairman of Liberty Media, Liberty Global, and Liberty Interactive, through which he obtained ownership of the Braves. Prior to working with Liberty Media, Malone was President and CEO of Tele Communications Inc. (TCI) from 1973-1996. Along with his business ventures, Malone is a major investor in real estate. In 2011 he overtook Ted Turner as the largest private landowner in the United States, who currently owns 2.1 million acres. Most of his land is located in Maine.
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02. Rogger Communications
The second richest MLB owner is actually an entire company, Rogers Communications, which has a net worth of $11.5 billion. A media company that focuses primarily on wireless communications, Rogers Communications is headquartered in Toronto, Ontario, Canada, which makes sense since they own the Toronto Blue Jays, which broadcast their games on Sportsnet One. , The Blue Jays’ stadium, Rogers Center, is named after the company. Rogers Communications also owns a share of the Toronto Raptors basketball team and the Toronto Maple Leafs hockey team.
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01. Steve Cohen
The richest owner in MLB, Steve Cohen, is in charge of the New York Mets and has a net worth of around $16 billion. Cochrane became the majority owner of the Mets in 2020, which was one of the winningest in the league. Most of his wealth has come through his hedge fund companies. His first hedge fund was SAC Capital, which he launched in 1992, and which eventually gained control of over $14 billion of assets. Unfortunately, the company was found guilty of insider trading and had to be closed down. This led Cohen to launch a new hedge fund, Point72, which he still runs today. Lastly, Cohen has a great fund, Point72, which he still runs today. Finally, Cohen has a great interest in art, with his art collection valued at over $1 billion.
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