By james art Cleveland Cavaliers Governor Dan Gilbert was already part of an exclusive group as a professional sports team owner. He is now listed as one of America’s richest sports franchise owners.
Gilbert ranks as the third-richest American sports franchise owner, according to Quartz, as the majority owner and principal manager of the Cavs since 2005. From delivering pizzas in college to his current billionaire status, the businessman’s net worth is around $34 billion, according to Forbes.
The co-founder of Rocket Mortgage (also known as Quicken Loans) went public in 2020 at a $36 billion valuation and originated $320 billion in mortgages that year. As for Gilbert’s NBA team, the Cavs recently hired Kenny Atkinson as the team’s new head coach in June 2024.
His son, Nick Gilbert, died aged 26 in May 2023 from neurofibromatosis, a genetic disease that causes tumors to grow along nerve pathways in the body. There is no known cure, but the Cavs owner already has a tattoo of his son on his right forearm and his philanthropy is working to find a cure for neurofibromatosis.
“A wonderful night as our beautiful son’s legacy was honored with the banner in the rafters. Love you Cleveland,” he posted on X as the Cavs showed off a Nick Gilbert bowtie banner in March.
What does Dan Gilbert own?
Gilbert owns several business ventures in addition to the Cavs and Rocket Mortgage.
He is also the co-founder of the $3.8 billion sneaker e-commerce site StockX and the founder and chairman of Rock Ventures LLC, an umbrella company that manages his portfolio of businesses and real estate ventures, according to Economic Innovation Group. Rock Ventures has 110 subsidiaries for EIG.
Since becoming famous, Gilbert has tried to revitalize buildings in his hometown of Detroit and create 24,000 jobs.
Who are the 10 richest sports franchise owners?
Here are the top 10 richest sports franchise owners in America, as listed by Quartz with updated net worth estimates from Forbes:
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Steve BallmerLos Angeles Clippers governor and former Microsoft executive: $125 billion
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Rob Waltonowner of the Denver Broncos and heir to Walmart: $96 billion
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Dan GilbertCleveland Cavaliers Governor: $34 billion
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David Tepperowner of the Carolina Panthers and Charlotte FC: $21.3 billion
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Steve Cohenowner of the New York Mets: $21.3 billion
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Philip Anschutzowner of Los Angeles Kings and LA Galaxy: $16.9 billion
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Stanley KroenkeLos Angeles Rams, Arsenal FC, Denver Nuggets, Colorado Avalanche and Colorado Rapids owner: $16.9 billion
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Jerry Jonesowner of the Dallas Cowboys: $15.1 billion
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Shahid Khanowner of Jacksonville Jaguars and Fulham FC: $13.3 billion
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Robert Kraftowner of New England Patriots and New England Revolution: $11.8 billion
This article originally appeared in the Akron Beacon Journal: Cleveland Cavs owner Dan Gilbert ranked No. 3 on very exclusive list