How every MLB owner made their fortune, from Mark Walter to Steve Cohen

Some MLB owners are richer than others. However, for the most part, they are worth billions of dollars, and made the vast majority of that money in another field. In some cases, owners inherited their hundreds of millions or billions from a parent or even grandparent.

But, the point remains: As MLB owners call for a salary cap and possibly cause a lockout as a result, they are not doing so because they cannot afford a contending roster. They are doing so because, as someone who has accumulated that much money over a long period of time, they always want more. Where a fortune comes from will always tell a story about the individual who has it. This is likely one of those articles the rich and powerful would rather not be published.

AL East

Baltimore Orioles: David Rubenstein

Oh, you want money? Get involved in private equity. That's what David Rubenstein did from a young age. Rubenstein is one of three (yes, count them) original founders of the Carlysle Group. All three of those founders are now billionaires, and Rubenstein decided to invest much of his fortune in the Baltimore Orioles.

Rubenstein's ownership was greeted as good news from a fan base that had to deal with Peter Angelos for far too long. So far, there are small signs that Rubenstein has been willing to spend more money, but it's early in his tenure. The jury is still out on one of the richest owners in the sport.

Boston Red Sox: John Henry

Henry made most of his early-career money in commodities trading, which includes the company JWH. However, the vast majority of his fortune has been gained as principal owner of Fenway Sports Group, which owns the Boston Red Sox and Liverpool FC. FSG also just sold the Pittsburgh Penguins, lining Henry's pockets even more.

Red Sox fans have obvious complaints with Henry. While Boston is a large baseball market, the number of assets Henry now has to manage forces him to be selective with resources. Henry certainly has the money to make the Red Sox World Series contenders each and every year, but trades of Mookie Betts and Rafael Devers suggest that's not always his goal.

New York Yankees: Hal Steinbrenner

The Steinbrenners, most notably George, made money through the shipping industry. George Steinbrenner inherited his family's fortune, and eventually used much of it to buy the New York Yankees in the 1970's. Upon his death in 2010, his son Hal took over operations.

These days, most of the Steinbrenner family wealth is due to their investments in the Yankees, YES Network and stakes in AC Milan and Legends Hospitality. While the Yankees always rank near the top of the league in payroll, Hal has more of an eye for the books than his father ever did. At times, it can hold the team back.

Tampa Bay Rays: Patrick Zalupski

Zalupski is a new MLB owner after making the vast majority of his money in construction. Yes, Zalupski is the CEO of Dream Finder Homes, which is known for building new, personalized homes in fast-growing markets across the Southeast, Mid-Atlantic and Midwest. The recent housing boom only helped expand his wealth, which is part of the reason why he was able to purchase the Tampa Bay Rays back in 2025.

The Rays are notoriously a low-payroll team. While early in his tenure, Zalupski hasn't shown a tendency to increase that, though it's tough to blame him as the team's future in St. Petersburg is up in the air.

Toronto Blue Jays: Rogers Communications

The Blue Jays are owned by Rogers' Communications, which is a publicly traded entity. The team is operated under the name Rogers Blue Jays Baseball Partnership, with Edward Rogers III as the chair to the board. The good news for the Blue Jays is that their payroll hasn't been a problem for quite some time. That has a lot to do with the team's success, ticket sales and overall growth, headlined by Vladimir Guerrero Jr. and the 2025 World Series run in which they fell one out shy of defeating the Los Angeles Dodgers.

AL Central

Chicago White Sox: Jerry Reinsdorf

Reinsdorf made his money in real estate. It really is that simple. That was in the 1970s, and he bought controlling interest in the Bulls and White Sox shortly thereafter. Reinsdorf's valuation has increased every year since, and if he ever decided to sell one of the professional sports teams he owns, he'd set up his family for generations. Don't get your hopes up, Chicago.

Cleveland Guardians: Paul Dolan

Dolan made most of his fortune from his legal firm, and used that money to purchase the Guardians. Believe it or not, Dolan is one of the richest owners in baseball, but he still features one of the league's lowest payrolls. This is why Guardians fans are always upset with Dolan and the franchise as a whole. They're always competitive, but a player or two away. If only they could afford it!

Detroit Tigers: Chris Ilitch

If Mike Ilitch was the pizza king, then Chris is the pizza prince. He is much less interested in spending on the Tigers and Red Wings than his father was, though, and that's because he's raking in money hand over first via his controlling interest in both teams — as well as Ilitch Holdings, which includes Little Caesars pizza.

Kansas City Royals: John Sherman

Sherman made his fortune in propane gas, as he founded LPG Services Group, merged with Dynegy and eventually founded Inergy, which merged with Crestwood Holdings in 2013. At the time, Crestwood was valued at $8 billion. Sherman went from a co-owner of the Cleveland franchise to primary owner of the Kansas City Royals after the COVID-19 pandemic.

Minnesota Twins: Jim Pohlad

Jim Pohlad is the son of Carl Pohlad, who made his fortune foreclosing on farms during the Great Depression and eventually sports media. Yes, he chose two, uh, depressing business ventures there. Jim inherited the Twins alongside his two siblings, and explored a sale just a few years ago. Instead, Pohlad kept the team and has committed to keeping the current core around.

AL West

Houston Astros: Jim Crane

Crane made his money in the freight forwarding and logistics industry, founding Eagle USA Airfreight and Crane Worldwide Logistics. If you haven't heard of those companies, I don't blame you. I can also assure you they're worth quite a bit, alongside the Houston Astros, which is Crane's primary venture these days.

Los Angeles Angels: Arte Moreno

Who doesn't love ads? Oh, everyone? Moreno made his money via a company called Outdoor Systems, which sold for nearly $9 billion. Since then, he's been in charge of the Angels, and hasn't been willing to rebuild in close to a decade. Mike Trout is great and all, but this franchise is a mess, and Moreno is at the center of it all.

Athletics: John Fisher

Fisher is the son of the founder of GAP. That's why he has all his money, and was able to force the Athletics out of Oakland. As always, a nepo baby was at the center of one of the worst stories in sports. Fisher is determined to move the A's to Las Vegas; for now, they're playing in Sacramento. I'm sure this story will end like many of Fisher's ventures: poorly.

Seattle Mariners: John Stanton

Stanton made his money in wireless companies, and was an original founding partner of T-Mobile. That, it would seem, is where most of his money came from. Stanton's valuation is over $1 billion, and it'd be a whole lot more if he sold his controlling interest in the Seattle Mariners. Montgomery isn't the worst owner in baseball by any means, and remains behind the scenes most of the time. What more can the Mariners ask for?

Texas Rangers: Ray Davis

Davis worked in the energy industry for 40 years, and he got there early. He retired as CEO of ETP and ETE in 2007, and invested in the Rangers. Texas would be one of the most valuable teams in MLB if Davis ever chose to sell.

NL East

Atlanta Braves: Atlanta Braves Holdings, Inc.

Unlike the rest of baseball, the Braves are a publicy traded team. This is all thanks to Liberty Media, their founding company, which completed a formal agreement to make the organization public in 2023. That hasn't impacted Atlanta's ability to spend, though it does make Alex Anthopoulos' job more difficult. Anthopoulos (and those above him) have more shareholders to answer to.

Miami Marlins: Bruce Sherman

Sherman is a finance guy. Most of his fortune — which he chooses not to spend on the Marlins roster on a yearly basis — comes from asset management. He founded PCM, otherwise known as Private Capital Management, and is worth $1.5 billion. Sherman is one of the most frustrating owners in sports because he could spend more, but chooses not to. As a result, the Marlins are a good-but-not-great franchise. That's where they'll stay.

New York Mets: Steve Cohen

Cohen is one of the richest owners in baseball, as well as a lifelong Mets fan. He made most of his money as a hedge fund manager and founded SAC Capital. He managed billions of dollars at Point72 Asset Management. Cohen is an ideal owner for most MLB teams, in that he's willing to spend more than any other organization for top-tier free agents and trade assets. He also has a little bit of Steinbrenner in him, which is a dangerous proposition.

Philadelphia Phillies: John Middleton

Middleton's money comes from tobacco, which should make Phillies fans feel nasty. Middleton sold his family's historic tobacco company to Altria for nearly $3 billion cash in 2009. He's since used that money to purchase controlling interest in the Phillies. Middleton is an invested owner, and hired an aggressive president of baseball operations in Dave Dombrowski. As a result, the Phillies payroll regularly ranks in the top 10 in baseball.

Washington Nationals: Mark Lerner

Mark Lerner is the son of Ted Lerner, who was the founder of Lerner Enterprises, the largest private landowner in the Washington metro area. That provided enough capital for Ted to purchase the Nationals in 2006, fresh off their move from Montreal. His son, Mark, took over upon his death in 2018.

NL Central

Chicago Cubs: Tom Ricketts

Ricketts is the son of TD Ameritrade founder Joseph Ricketts, which makes him one of the richest men in the United States. Tom's dad was worth $2.3 billion upon his death over a decade ago. Since then, Tom Ricketts has bought up much of the property around Wrigleyville and turned into a real estate mogul.

Cincinnati Reds: Bob Castellini

Castellini got his MBA at from the Wharton School, and went on to become CEO of the Castellini Group of Companies. What that means to you I do not know. What it means to Castellini is billions of dollars, and a controlling interest in the Reds. Cincinnati is a classic mid-market team that doesn't punch above its weight. A salary cap would go a long way for a team like the Reds in the next CBA.

Minnesota Brewers: Mark Attanasio

You wanted a businessman? Well, I found him! Attanasio made most of his pre-Brewers income with the Los Angeles-based Crescent Capital Group in 1991, and then bought Trust Company of the West in 1995. He didn't get involved with the Brewers until 2004, and gained controlling interest in 2023. Brewers fans always complain about their spending, but no team has perfected the mid-market model like Milwaukee. For better or worse, they are the argument against a lockout.

Pittsburgh Pirates: Bob Nutting

Bob Nutting made his money in ski resorts and newspapers. Do you really need more information? Nutting is one of the "poorest" owners in MLB, valued at just $1.1 billion. That being said, Nutting should not cry poor. Pittsburgh can make any owner wealthy if they invest in the franchise. Nutting, like his predecessors, hasn't done that. It's why Pirates fans chant "sell the team" every night at PNC Park.

St. Louis Cardinals: Bill DeWitt Jr.

More private equity! Yes, we needed it. these rich kids all have a playbook. DeWitt Jr. is the beneficiary of the money that came before him. The Cardinals have only increased his yearly income. Do not let these 30 rich men cry poor, it's not real. The Cards have won plenty under DeWitt, and to his credit he's willing to invest in Busch Stadium (with some help from taxpayers) and the roster when asked.

NL West

Arizona Diamondbacks: Ken Kendrick

Kendrick founded Datatel, Inc., which is a software development company, and served as a banking industry executive in Texas. That's where most of his income came from. He bought controlling interest in the Diamondbacks in 2004 as their primary managing partner. The D-backs have seen tremendous success under Kendrick, who is willing to open his wallet when necessary. Arizona could make the postseason again in 2026.

Colorado Rockies: Dick Monfort

Dick Monfort is really into red meat, so much so that he became president of ConAgra Red Meats back in 1987. Much of his money came from the shares he has in Hyatt hotels and in various steakhouses around Colorado and California. Dick shares the Rockies with his brother, but got a recent cash infusion courtesy of the Penner group.

Los Angeles Dodgers: Mark Walter

Walter is among the richest and quietest owners in MLB. The Dodgers chairman is willing to spend whatever it takes in free agency and via trade to build a contender. That means a lot deffered money, plus investments in international scouting and more. Shohei Ohtani will be paid handsomely through the 2030s, but none of it matters to Walter, who made his money in insurance, financial planning and private investments. If that sounds vague, it's probably why he's currently being investigated.

San Diego Padres: José E. Feliciano and Kwanza Jones

Oh, you wanted more private equity? I got it for ya. Feliciano and Jones are worth $3.9 billion because they are managing partners in Clearlake Capital. The Seidler family owned the Padres for years, and the patriarch Pete Seidler spent all of his money on the baseball team. No one cared more about San Diego and keeping the Padres in a small-market military town than their owner. Hopefully Feliciano and Jones carry that spirit on. The team is certainly talented enough to make a run.

San Francisco Giants: Charles Johnson

If you wanted to find a billionaire who didn't send millions of dollars to Donald Trump, you should stop reading this article; Johnson did just that in excess. He also donated to Yale and other major colleges. The Giants are not lacking in money. Talent is the major issue. Rafael Devers and Willy Adames will not make up the difference. It really is that easy.

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