The NBA is a money-making machine that never stops, so it's no surprise that some of the richest individuals on Earth are also the richest NBA owners in 2024.
Which is why it's all the more surprising to see some of them reluctant to break the salary cap and pay the luxury tax (yes, we're looking at you, Jerry Reinsdorf).
Richest Basketball Club Owners in 2024
Buying an NBA basketball team has proven to be a very lucrative deal. Michael Jordan sold what he bought for millions of dollars for billions of dollars, and with expansion on the horizon, a new TV rights deal on the horizon, and the league reaching more and more corners of the world, this will only become a reality as the years go by.
With that in mind, we'll dig deep into the league's records to let you know all about the 10 richest NBA owners in 2024, their net worths, and the current state of their teams.
10. Herb Simon – Pacers
The Indiana Pacers just came off a trip to the Eastern Conference Finals, and while some may think they’ve been handed a lot of lucky breaks, the reality is that the future looks very bright for Rick Carlisle’s team. With a young roster led by Tyrese Haliburton, Benedict Mathurin, and Andrew Nembhard, this team is set to be very good for years to come.
It’s great news for Herb Simon, a real estate mogul worth an estimated $2.4 billion. He’s the founder of Simon Property Group, the largest investment fund of its kind in the United States. In addition to owning the Pacers, he also owns Kirkus Reviews and the WNBA’s Indiana Fever magazine.
9. Jimmy Haslam – Milwaukee Bucks
The Milwaukee Bucks have been a bottom-of-the-table team for most of their history, but they’re back on top. With Giannis Antetokounmpo at the helm, they’ve become a perennial threat in the Eastern Conference, as they proved by winning the NBA championship just two seasons ago.
Its owner, Jimmy Haslam, is worth $4 billion and has been heavily involved in the sports industry for some time. In addition to being the CEO of the Pilot Flying J truck stop chain, he also owns the Columbus Crew of the MLS and the Cleveland Browns of the NFL.
8. Tom Gores – Pistons
It’s been a long time since the Detroit Pistons were a competitive team. Despite the abundance of young talent, they still seem years away from another shot at a playoff spot, which is why they parted ways with Monty Williams and decided to ditch their head office. Hopefully, it works out for Cade Cunningham.
This isn’t great news for Tom Gores, who is currently worth $6 billion. He is the founder, CEO and chairman of Platinum Equity, a Beverly Hills-based private equity firm. He acquired the team through his company before buying out their shares to become sole owner.
7. Anthony Ressler – Hawks
A new era has begun for the Atlanta Hawks. With Dejounte Murray gone and Trae Young likely to follow suit, first-round pick Zachary Reisacher will lead the team into a new era. However, things may get worse before they get better, and the team will have to be patient.
Also known as Tony Ressler, Hawks owner, he made his fortune in private equity investing. His net worth is estimated at $8 billion. Ressler co-founded Ares Management and Apollo Global Management, which have a combined $800 billion in assets under management.
6. Tilman Fertitta – Rockets
The Houston Rockets clearly know how to capitalize on the assets they acquired with James Harden. Their young team looks ahead of schedule, and it won’t be long before they’re back in title contention, especially if Jalen Green and Albern Sengun continue to shine and coach Ime Udoka continues to instill his fierce competitive spirit and pesky defense.
That should bode well for a man like Tilman Fertitta, whose third cousins owned the UFC. His net worth is estimated at $9 billion, and he currently serves as CEO, owner and chairman of Landry’s, Inc. He bought the Houston Rockets for a then-record $2.2 billion.
5. Mickey Arison – Heat
Although no longer a powerhouse in the Eastern Conference, the Miami Heat will remain a force to be reckoned with as long as Pat Riley and Erik Spoelstra are there. Their strong, winning culture — as well as the weather and the nice city — have attracted star free agents for years, and it won’t be long before they land another star.
It’s no surprise that the team is owned by the richest person in the great state of Florida, or at least has been for years. He owns Carnival Corporation, the largest cruise ship company on earth, which gives him a staggering net worth of $10 billion.
4. Joseph Tsai – Nets
Ultimately, signing Kevin Durant and Kyrie Irving and trading for James Harden was a disaster for the Brooklyn Nets, but that’s a mistake anyone would have made. At least the team is finally moving in the right direction by committing to a massive rebuild and bringing back some of its top-tier assets.
Its owner, Joe Tsai, has taken a hands-on approach to some of his decision-making. He is currently worth $10.5 billion and is best known as the co-founder and CFO of Alibaba. He also served as CFO of Alibaba Group Holding Ltd. until 2013.
3. Stan Kroenke – Nuggets
It wasn’t long ago that a lot of people were talking about the Denver Nuggets. Now, the team is a perennial NBA title contender, thanks in large part to Nikola Jokic and Jamal Murray, but also to the way the Kroenke family has allowed the executives to do their jobs and been patient with coach Mike Malone.
Stan Kroenke, the owner of this company, is a sports mogul with a net worth of $12 billion. His holding company, Kroenke Sports & Entertainment, owns Arsenal Football Club, the Los Angeles Rams of the NFL, the Colorado Rapids of the NFL, and several other teams. The company also owns SoFi Stadium in California.
2. Dan Gilbert – Cavaliers
The Cleveland Cavaliers have not been a title contender since LeBron James left, and that is unlikely to change anytime soon. However, the team is expected to continue to qualify for the postseason under Donovan Mitchell, even if a second-round exit is the limit.
Even if that were the case, Dan Gilbert would be fine, with a net worth of $32 billion. He’s the founder and CEO of Rock Financial, now called Quicken Loans. The company now operates under Rocket Companies, one of the largest mortgage companies on the planet.
1. Steve Ballmer – Clippers
The Los Angeles Clippers have worked hard to break the Los Angeles Lakers’ dominance of the city, but to no avail. Even a new state-of-the-art arena in Inglewood won’t be enough to change that, especially now that Paul George is gone and the team may not be as good as it was last season.
Not only is this team owned by the richest owner in the NBA, it's also owned by one of the richest people on Earth. Period.
Steve Ballmer is worth $157 billion, mostly due to his 4% stake in Microsoft, the company he co-founded with Bill Gates.
