| By: bluedevil2k | Created:3-12-2008 | List Contest: Staff not Eligible |
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It's no secret that you gotta have major money to own a professional sports team. We're talking hundreds of millions of dollars here. So how did the owners in today's NBA make all their money?
This list explores the source of the money that all these owners used to buy their NBA franchise. How did they make this money? Can you emulate them and buy your own team someday? (probably not)
Today, we'll explore the Eastern Conference. We'll take a look at the Western Conference tomorrow.

Owner: Dan Gilbert (principal)
Wealth: Mortgage lending
Founder of Rock Financial, which was one of the largest independent mortgage lenders in the country when they went public in 1998. In 1999, Intuit (the makers of TurboTax and Quicken) bought Rock Financial, and Gilbert stayed on board as CEO of the new company, Quicken Loans. 3 years later, he bought Quicken Loans back from Intuit and now owns it privately with others.
Notable fact: Usher Raymond (better known simply as Usher) is a minority owner of the team.
Owner: Abe Pollin
Wealth: Construction
Abe was a successful construction contractor in the late '50's and early 60's, specializing in projects in and around the growing city of Washington DC. He bought the Baltimore Bullets in 1964 and moved the team to Washington in 1973. His wealth nowadays comes principally from his ownership of the Wizards.

Owner: Forest City Enterprises (majority), Jay-Z (minority)
Wealth: Record producer
Forest City Enterprises is a large real estate holding company..blah, blah, blah. It'd be much more intresting to discuss Jay-Z. Jay-Z is one of the most successful hip-hop artists and producers of all time, having founded Roc-A-Fella Records, and was the former president of Def Jam Recordings. He's estimated to be worth $600M. Oh, and he dates Beyonce!

Owner: Micky Arison
Wealth: Cruise ships
Arison is CEO of Carnival, the giant cruise ship operator. Luckily for Micky, his father Ted founded the company and died, leaving the entire company and his money to Micky and his sister (65% to Micky). Arison is valued by Forbes at $6.1B, making him the wealthiest owner in the Eastern Conference, and 94th wealthiest in the world.
Interesting Note: Micky's sister, Shari, lives in Israel and is the richest person in the country.

Owner: Michael Gearon
Wealth: Telecommunications
Gearon started his telecommunications company, Gearon Communications, when he was just 25 years old (what were you doing at age 25?). He ended up selling the company to American Tower in 1998. American Tower is one of the largest cell phone tower providers in the country.
Interesting Note: Minority shareholders of the Hawks include Nintendo

Owner: Herb Kohl
Wealth: Retail
Herb Kohl founded and built his family's grocery/department store, Kohl's, into a giant retail power before selling it in 1979. He bought the Bucks in 1985. He is perhaps best known today for being the senior Senator from Wisconsin, having served since 1988. He remains one of the most popular Senators in his home state, regularly getting more than 60% of votes in elections.
Owner: William Davidson
Wealth: Auto parts
William is the chairman and founder of Guardian Industries, one of the largest producers of glass for cars and buildings. He also owns the NHL's Tampa Bay Lightning. He bought the Pistons in 1974 for only $7M, and the franchise is estimated to be worth $477M today. Not a bad investment!




















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