NBA teams vary greatly in value, as evidenced by recent sales such as the Hornets and Bucks, which fetched over $3 billion, compared to established franchises like the Lakers and Warriors, valued at $7-8 billion each. Some team owners’ wealth is primarily tied to their NBA franchise, like the Lakers, while for others, it’s just a fraction of their overall wealth.
For instance, Clippers owner Steve Ballmer boasts a reported total wealth of $121 billion, ranking among the top eight wealthiest individuals globally and the richest sports franchise owner in the US. In 2014, he purchased the Clippers from Donald Sterling for $2 billion, a premium price even at the time. Remarkably, Ballmer was prepared to pay the entire sum in cash, surprising Sterling, who believed such a large sum should be invested for optimal returns.
Ballmer’s commitment to basketball extended beyond the acquisition; he invested heavily in a new arena for the Clippers, spending over $400 million to resolve conflicts with nearby venues, totaling over $2 billion. This underscores Ballmer’s genuine passion for basketball and the NBA, with the aim of making his team the best in the league. With Ballmer’s wealth, he could theoretically buy all 30 NBA teams, ensuring annual championships for his own team. However, such extreme actions are neither feasible nor permissible within the NBA.
While Ballmer reigns as the wealthiest NBA owner, others fall far behind. For instance, the Lakers’ Jeanie Buss ranks near the bottom in terms of wealth among NBA owners.
Despite being a powerhouse with five championships in the last two decades, the Spurs remain a small-market team, owned by a former tractor salesman, Peter Holt. Holt’s family business provided a modest economic foundation, but acquiring an NBA team was still a distant dream. In 1993, he gathered $75 million with 22 other investors to purchase the Spurs. While the Spurs’ value has soared with the NBA’s growth, Holt’s personal wealth remains around $200 million, less than the top NBA players’ salaries.
The Lakers stand out as one of the NBA’s most iconic teams, owned by Jeanie Buss, affectionately known as “Aunt Jeanie” by fans. Despite being in her 60s, her recent interactions with LeBron James at courtside exude a youthful charm. However, basketball is just one aspect of the Buss family’s business empire, with Jeanie’s total wealth estimated around $500 million, placing her among the lowest in the NBA ownership hierarchy.