Net Worth: $400 million
Source of Wealth: Baseball
Resident of: Los Angeles
Peter O’Malley might be one of the most revered owners in professional sports.
The Los Angeles Dodgers owner has not only led the team to successful seasons but analysts say he’s done it with class.
Now it appears that O’Malley, who announced plans earlier this year to sell the team, is close to a deal with media mogul Rupert Murdoch.
O’Malley, who jointly-owns the Dodgers with his sister, Terry Seidler, is expected to fetch between $350 million and $400 million.
Consultants close to the deal aren’t sure exactly how much O’Malley and his sister will net from the sale. Not only will a large portion of the profits be eaten away by taxes, but some of the money might be split among children and grandchildren.
There has been speculation cooling off in recent weeks that the family might invest some of his money in bringing professional football back to L.A. O’Malley is currently focusing on the sale, but a Dodgers spokesman would not rule out talks with the National Football League.
O’Malley is the longest active president in Major League Baseball. During his 26-season tenure, the Dodgers have finished in first or second place in the National League 18 times including a pair of World Series titles.
In 1970, O’Malley took the reigns of the team from his father, Walter, who had purchased a controlling stake in the Brooklyn Dodgers in 1950. The O’Malley family also owns the team’s home Dodger Stadium, as well as Dodger Town in Vero Beach and a stadium in the Dominican Republic. They also own a controlling stake in eight minor league franchises.
Joe Bel Bruno