Steve Cohen

10 richest MLB owners in 2023

Home » MLB » 10 richest MLB owners in 2023

For most fans, it probably wouldn’t be too hard to guess the richest MLB owners and the teams they own.

After all, the richest MLB teams tend to spend the most every offseason and have been the ones handing out some of the largest contracts in MLB history. However, we still wanted to create a list of the richest MLB owners just to make sure our assumptions were correct.

Richest MLB owners ranked

To help us find answers to our questions and confirm our assumptions, we did some research on the richest MLB owners. If you ever wanted to learn more about the wealthiest owners of MLB teams, keep reading as we count down a list of the 10 richest MLB owners.

T8. Hal Steinbrenner (Yankees) – $3.8 billion

Most fans are probably more familiar with his father George, but nowadays it’s Hal Steinbrenner calling the shots for the Yankees. In addition to him and his siblings inheriting control of the Yankees when the great George Steinbrenner passed away in 2010, Hal is also the chairman and CEO of Steinbrenner Hotel Properties, which explains why he’s worth a few billion dollars.

Sadly, his older brother Hank passed away in 2020, leaving Hal to handle day-to-day control of the Yankees by himself, although Hal started to take on more responsibilities while his father was still alive. However, the Yankees are yet to win a World Series title since 2009, which was before George passed away. In addition to owning the Yankees, Hal also has a minor share of New York City Football Club, which also plays its games at Yankees Stadium, and Italian soccer club AC Milan.


T8. Ilitch Family (Tigers) – $3.8 billion

The city of Detroit wouldn’t be the same if it weren’t for Mike and Marian Ilitch. The couple founded Little Caesars together in 1959, and it just got better from there. In 1992, Mike purchased the Tigers, and after more than a decade of losing, he finally got the franchise turned around, making him a beloved figure in Detroit until his passing in 2017.

Today, Ilitch Holdings controls the Tigers and the family’s other assets with Marian serving as chairperson and son Christopher serving as CEO and president, making him in charge of the Tigers.

In addition to the Tigers and Little Caesars, the family has a controlling interest in the NHL’s Red Wings with Comerica Park, Little Caesars Arena, and Detroit’s Fox Theatre being among its subsidiaries.

T8. Pohlad Family (Twins) – $3.8 billion

Between 1984 and 2009, Carl Pohlad owned the Twins, but when he passed away, both the Twins and his $3.6 billion fortune were passed to his three sons. While all three serve on the team’s board, Jim Phlad served as the public face and chairman of the Twins until he started to transition those roles to his nephew Joe in 2022.

The franchise thrived under Carl, who oversaw two World Series titles. But since he passed away in 2009 at the age of 93, the Twins have experienced only mild success and have been shy about spending money on free agents despite the Pohlad family being among the richest owners in baseball.


7. William Dewitt Jr. (Cardinals) – $4 billion

While most people associate the Cardinals with Anheuser-Busch, William Dewitt Jr. and his partner Stephen F. Brauer bought the Cardinals from Anheuser-Busch in 1995 for $150 million. Dewitt has been a hands-on owner ever since, overseeing both financial and baseball decisions.

Whatever he’s doing seems to be working, as the Cardinals have long been one of the most consistent franchises in the majors, winning two World Series titles under Dewitt’s leadership. Fittingly, Dewitt’s father used to own the St. Louis Browns and Cincinnati Reds, so he was around baseball his whole life.

In the past, Dewitt has had ownership shares with both the Reds and Orioles while nearly buying the Texas Rangers. He also has ownership shares in the NFL’s Bengals.

6. Charles Johnson (Giants) – $4.4 billion

Despite being born in New Jersey and going to school in the northeast, Charles B. Johnson finds himself the owner of a Bay Area sports franchise. Johnson’s father started a mutual fund company where Charles worked for over half a century.

He eventually passed the company to his kids after making enough money to buy a 26% share of the Giants, making him the largest single stakeholder of the team. 

5. Lerner Family (Nationals) – $4.5 billion

Currently, Mark Lerner is the owner of the Nationals and is the second generation of that family to own the team. His father Ted purchased the team for $450 million in 2006. After Ted retired in 2018, Mark stepped in to take over operations.

It turns out that Mark wasn’t fooling around because the Nationals won the World Series in 2019. That championship was a wonderful gift from the Lerner family to the city of Washington, where Lerner Enterprises has invested and developed real estate since the company was founded by Ted in 1952. In fact, the whole company started when Ted borrowed $250 from his wife. 

4. Larry and Paul Dolan (Guardians) – $4.6 billion

Based on their payroll, the Guardians aren’t one of the richest teams in the majors. However, Larry Dolan and his son Paul are among the richest owners in baseball. In 2000, Dolan used his family trust to buy the Guardians for $323 million.

He then made the team privately owned by purchasing all of the stock for $12 a share. That and the team’s lack of spending haven’t endeared Dolan to fans, although Paul took over day-to-day operations as the “control person” of the franchise in 2013.

Also, if his name sounds familiar, it’s because Larry Dolan is the uncle of James Dolan, who owns the NBA’s Knicks and NHL’s Rangers.

3. John Malone (Braves) – $6.6 billion

Officially, Liberty Media Corporation owns the Braves with founder and chairman John Malone being the head decision-maker. Malone’s personal fortune is in excess of $6 billion.

He is also believed to be the nation’s largest private landowner. His properties combine for more than 2.2 million acres, which is twice the size of Rhode Island, and then some. In other words, the Braves are just a small portion of what Malone owns.

2. Rogers Communications (Blue Jays) – $11.5 billion

There’s a good reason why the Blue Jays play in the Rogers Centre; it’s because they are owned by Rogers Communications. The Toronto-based communications company operates in the cable, wireless, and Internet spaces.

In addition to running the Blue Jays, Rogers Communications owns a majority of the NHL’s Maple Leafs, NBA’s Raptors, CFL’s Argonauts, and Toronto FC of Major League Soccer.

The company also has minority shares of several minor league hockey, basketball, and soccer teams. Needless to say, Rogers Communications is one of the pre-eminent corporations in Canada.

1. Steve Cohen (Mets) – $16 billion

For many Mets fans, Steve Cohen became the savior of the franchise when he became the majority owner in 2020. Fans were constantly frustrated with Fred Wilson and Saul Katz for not investing enough money in the team. But that’s not been a problem early in Cohen’s tenure with the Mets being criticized by some for spending too much money.

The team’s new owner has made it clear that he didn’t buy the Mets to make money but rather to win championships. He claims to have a day job for making money, and that day job is being one of the most successful hedge fund managers in the country. As early as 2006, Cohen was described by the Wall Street Journal as “the hedge fund king,” which must be true because he’s worth $16 billion.

Leave a Comment

Your email address will not be published. Required fields are marked *