Find out how Cleveland Cavaliers owner Dan Gilbert ranks No.3 on an extremely exclusive list

Alex Perry, Akron Beacon Journal

Cleveland Cavaliers governor Dan Gilbert was already part of an exclusive group as a professional sports team owner. Now he has been named one of the wealthiest American sports franchise owners.

Gilbert ranked the third-wealthiest American sports franchise owner, according to Quartz, as the majority owner and primary governor of the Cavs since 2005. From delivering pizzas in college to his now-billionaire status, the businessman's net worth sits at an estimated $34 billion, according to Forbes.

The Rocket Mortgage co-founder (also known as Quicken Loans) went public in 2020 at a $36 billion valuation, and generated $320 billion in mortgages that same 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 at age 26 in May 2023 from neurofibromatosis, a genetic disorder that causes tumors to grow on nerve pathways in the body. There is no known cure, but the Cavs owner now has a tattoo of his son on his right forearm, and his philanthropy seeks to find a cure for neurofibromatosis.

"Beautiful night as our beautiful son’s legacy was honored with the banner in the rafters. Love you Cleveland," he posted to X as The Cavs displayed a Nick Gilbert bow tie banner in March.

Dan Gilbert, Co-founder and Chairman of Rocket Companies talks about a tattoo he has on his right arm of his late son Nick Gilbert as he speaks during the Detroit Economic Club on Friday, Sept. 13, 2024 at the Icon Complex in Detroit. Nick Gilbert, died in 2023 at 26 after a lifelong battle of neurofibromatosis.
Dan Gilbert, Co-founder and Chairman of Rocket Companies talks about a tattoo he has on his right arm of his late son Nick Gilbert as he speaks during the Detroit Economic Club on Friday, Sept. 13, 2024 at the Icon Complex in Detroit. Nick Gilbert, died in 2023 at 26 after a lifelong battle of neurofibromatosis.

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 sneaker E-commerce site StockX, worth $3.8 billion, and the founder and chairman of Rock Ventures LLC, an umbrella company that handles his portfolio of business and real estate ventures, according to Economic Innovation Group. Rock Ventures has 110 affiliated companies, per EIG.

Since his rise to notoriety, Gilbert has sought to revitalize buildings in his hometown of Detroit and create 24,000 jobs.

Who are the 10 wealthiest sports franchise owners?

These are the top 10 wealthiest sports franchise owners in America, named by Quartz with updated net worth estimates from Forbes:

  1. Steve Ballmer, Los Angeles Clippers governor and former Microsoft CEO: $125 billion

  2. Rob Walton, Denver Broncos owner and Walmart heir: $96 billion

  3. Dan Gilbert, Cleveland Cavaliers governor: $34 billion

  4. David Tepper, Carolina Panthers and Charlotte FC owner: $21.3 billion

  5. Steve Cohen, New York Mets owner: $21.3 billion

  6. Philip Anschutz, Los Angeles Kings and LA Galaxy owner: $16.9 billion

  7. Stanley Kroenke, Los Angeles Rams, Arsenal F.C., Denver Nuggets, Colorado Avalanche, and Colorado Rapids owner: $16.9 billion

  8. Jerry Jones, Dallas Cowboys owner: $15.1 billion

  9. Shahid Khan, Jacksonville Jaguars and Fulham F.C. owner: $13.3 billion

  10. Robert Kraft, New England Patriots and New England Revolution owner: $11.8 billion

This article originally appeared on Akron Beacon Journal: Cleveland Cavs owner Dan Gilbert ranks No. 3 on very exclusive list

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