How Bruce Levenson and Other Top NBA Teams Owners Made Their Money

NBA team owners are financially sound individuals. They are some of the wealthiest people across the globe with most of them having net worth running into billions of dollars. This financial mighty is important since buying some of the top NBA team will cost investors even a billion dollars. However, passion is another critical factor. Most NBA team owners are essentially basketball lovers who draw lots of pride from owning these teams. Below are some of the top NBA team owners and a brief description of how they made their money.
Herb Simon
Herb Simon owns the Indiana Pacers. Apart from recent poor performance in the NBA league, Indiana Pacers have a good history. Herb Simon took over the ownership of the team in 1993 when he paid $10 million to the previous owner. Simon made his money from a number of companies that he founded in much earlier years. His first company was a small development company called Melvin Simon & Associates. He later founded a real estate company, Simon Property Group, which has exponentially grown to be one of the largest in the United States.
Leslie Alexander
Like Simon, Leslie Alexander bough his NBA team, Houston Rockets, in 1993. However, his involvement in the operation of the team has enabled the team to improve its performance in the league. He entered the Wall Street straight from New York University to trade on bonds in 1965. By 1980, he had made enough money and garnered enough experiences to enable him start his own investment company. The success of his company enabled him to buy Houston Rockets in 1993. He has since won two championships as the owner of the team.
Bruce Levenson
Bruce Levenson has owned the Atlanta hawks since 2004. He is known for founding several successful companies that have enabled him to generate lots of wealth. In 1977, he founded his first company, the United Communication Group (UCG). Levenson has since founded several companies including TechTarget. Bruce has rendered his services for different companies such as BIA Digital Partners besides Newsletter and Electronic Publishers Association. Bruce and Ed Peskowitz’s, Bruce’s business partner, names were inducted in the Hall of Fame of the software and information industry in 1997 owing to their remarkable performance at UCG.
Mark Cuban
Mark Cuban, the owner of Dallas Mavericks, started out as a bartender and a part time computer sales person. His deep computer knowledge that he acquired from the University of Indiana enabled him to found his first company, MicroSolutions. The company sold computers and software. Cuban also provided his clients with other services such as training and configuring their computers. The $15,000 capital that he used to start the company was a commission for quitting his sales job. He bought Dallas Mavericks in 2000 at a price tag of $285 million. Mavericks have enjoyed numerous successes since Cuban took over the team.
NBA team owners are greatly adored individuals. The adoration is even higher for those owners who have put many efforts to ensure the success of their teams. Forbes billionaire Bruce Levenson managed to improve the performance of Atlanta Hawks by hiring Danny Ferry as its general manager. It is important to note that ownership of an NBA teams gives an individual a direct seat at the NBA’s Board of Governors.