What is Stan Kroenke net worth?
|Net worth||$8.3 Billion|
|Source of wealth||Businessman|
|Date of Birth||July 29, 1947|
|Education||University of Missouri (BA and MBA)|
Stan Kroenke net worth 2023: Enos Stanley Kroenke is an American billionaire businessman. He is the owner of Kroenke Sports & Entertainment, which is the holding company of English Premier League football club Arsenal F.C., the Los Angeles Rams of the NFL, Denver Nuggets of the NBA, Colorado Avalanche of the NHL, Colorado Rapids of Major League Soccer, Colorado Mammoth of the National Lacrosse League, the Los Angeles Gladiators of the Overwatch League, and the newly formed Los Angeles Guerrillas of the Call of Duty League.
Keep reading to find more information about Stan Kroenke net worth and assets here.
Early life and education
Kroenke grew up in Mora, Missouri, an unincorporated community with a population of approximately two dozen, where his father owned Mora Lumber Company. His first job was sweeping the floor at his father’s lumber yard. By age 10 he was keeping the company’s books. At Cole Camp (Missouri) High School, he played baseball, basketball and ran track.
Kroenke married Ann Walton, a Walmart heiress, in 1974. He founded the Kroenke Group in 1983, a real estate development firm that has built shopping centers and apartment buildings. He has developed many of his plazas near Walmart stores.
He is also the chairman of THF Realty, an independent real estate development company that specializes in suburban development. He founded this corporation in St. Louis, Missouri, in 1991. In 2016, THF’s portfolio was valued at more than $2 billion, including more than 100 projects totaling 20 million square feet, primarily in retail shopping centers.
In 2006, Kroenke, in partnership with the money manager Charles Banks, acquired Screaming Eagle, a winery in Napa Valley. In April 2009, Banks stated he was no longer personally involved with Screaming Eagle.
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Kroenke is a major owner of working ranches, owning a total of 848,631 acres. The Land Report magazine ranked him as the United States’ ninth-largest landowner in 2015. Among notable purchases is his February 2016 acquisition of the famous Waggoner Ranch in Texas, the largest ranch within one fenceline.
In August 2017, he came under fire for launching a British outdoor sports television channel that will show regular hunting programmes that includes killing elephants, lions, and other vulnerable African species.
Kroenke Sports & Entertainment was founded in 1999. It owns Ball Arena in Denver, home of the Nuggets and Avalanche, and co-owns Dick’s Sporting Goods Park in Commerce City, home of the Rapids. Both venues were built by his development company. In 2004, Kroenke launched his own competitor to FSN Rocky Mountain now known as AT&T SportsNet Rocky Mountain, Altitude, a new regional sports network which became the official broadcaster for both of Kroenke’s teams on launch. Kroenke also established TicketHorse, a ticket company that provides in-house sales for all of his teams.
In 2000, Kroenke became full owner of both the National Basketball Association’s Denver Nuggets and the National Hockey League’s Colorado Avalanche, purchasing the teams from Charlie Lyons’s Ascent Entertainment Group.
Arsenal Football Club
Kroenke is the largest shareholder of Premier League association football club Arsenal. Arsenal already had a technical link-up with Kroenke’s Colorado Rapids when in April 2007 Granada Ventures, a subsidiary of ITV plc, had sold its 9.9% stake in Arsenal Holdings plc to Kroenke’s KSE UK inc. Kroenke went on to buy further shares in the club, taking his total stake up to 12.19%.
By June 2008, the board had prepared to let Kroenke take over the club, and on September 19, 2008, it was officially announced that Kroenke had joined the Arsenal board of directors.
Kroenke had a beneficial interest in, and controlled voting rights, over 18,594 shares, representing 29.9% of the issued shares. Thus, he was nearing the maximum 29.99% threshold, beyond which he would be forced to make an offer for all remaining shares.
On April 10, 2011, it was reported that Kroenke was in advanced talks to complete the takeover of Arsenal. The following day, it was announced that he increased his shareholding in Arsenal to 62.89% by purchasing the stakes of Danny Fiszman and Lady Nina Bracewell-Smith, and agreed to make an offer for the rest of the club at £11,750 per share, valuing the club at £731M.
In August 2018, he made an offer of around £600m in a deal that would value the Gunners at £1.8bn, to the second major share holder Alisher Usmanov to take complete control of the club.
Kroenke has garnered significant antipathy from Arsenal supporters who feel that he does not care or has any ambition for the club, and that he is just using the club for his own profit, stemming from his reluctance to invest money in the club.
Stan Kroenke Net Worth
Stan Kroenke net worth is $8.3 billion. He owns some 30 million square feet of real estate — much of it shopping plazas near Walmart stores. Kroenke owns the Los Angeles Rams, which he moved back to California from St. Louis in 2016. Stan Kroenke net worth is also sourced from hi sports empire which includes the Denver Nuggets, Colorado Avalanche, Colorado Rapids and Britain’s Arsenal soccer club.
On a ski trip to Aspen, Colorado, Kroenke met his future wife, Ann Walton, a Walmart heiress. They married in 1974. Already wealthy from real estate, he became even wealthier when he and Ann inherited a stake in Walmart upon the 1995 death of her father, James “Bud” Walton. As of September 2015, that stake was worth $4.8 billion.
He is of German descent and was raised Lutheran.
Kroenke is a somewhat reclusive man who prefers to avoid the spotlight. He is popularly known as “Silent Stan” because he almost never gives interviews to the press. He rarely interferes in his teams’ day-to-day operations.
During the 2016 U.S. presidential campaign, he donated $100,000 to the Hillary Victory Fund. He subsequently donated $1 million to Donald Trump’s inaugural committee.