Stan Kroenke is an American billionaire with a net worth of $8.3billion and is the owner of Kroenke Sports & Entertainment (KSE), which owns Arsenal Football Club amongst other sports teams.
|Net Worth (2020)||$8.3billion|
|Source of Wealth||Real Estate, Sports, Self Made|
|Date of Birth||July 29, 1957|
|Place of Birth||Columbia, Missouri, United States|
|Current football club (owner)||Arsenal, Colorado Rapids|
Early Life and Education
Stan Kroenke is of German descent and was born to a lumberyard owner in the small town of Mora, Missouri, in 1947. Kroenke grew up in the town of Mora, where the population was not more than two dozen people.
His first job was sweeping in his father’s lumberyard at the age of 10. He attended Cole Camp Missouri High School, where he played and developed an interest in baseball and basketball.
Kroenke earned his Bachelor of Arts, Bachelor of Science, and Masters of Business Administration degrees while attending the University of Missouri. He also attended law school for a brief period of time.
Net Worth of Stan Kroenke
According to Forbes, Stan Kroenke’s net worth is approximately $8.3billion.
Stan Kroenke is the 59th richest man in the United States of America as of 2020, according to the ‘Forbes 400’ 2020, and the 135th richest billionaire in the world.
He was also on Forbes’ “Richest person in every State” in 2017 but was dropped off the list in 2018
Kroenke met his future wife, Ann Walton, on a ski trip to Aspen, Colorado. The two tied the knot in 1974. Walton was the heir to the Walmart empire.
Already from a rich family, Kroenke’s wealth multiplied when he and his wife inherited a stake in Walmart in 1995 upon the death of James “Bud” Walton.
Kroenke is called “Silent Stan” because of his tendency to avoid the spotlight and almost never give an interview to the media. He is also believed to be very reserved when it comes to interfering in the day-to-operations of his teams.
According to his friends, Kroenke loves travelling and working out in his gym. He is also said to be an avid reader of novels, biographies, etc.
Kronke has two children with Ann Walton – daughter Whitney Ann Kroenke and son Josh Kroenke. Additionally, he has two other children – Katie Kroenke and Brett Kroenke.
Kroenke started the Kroenke Group, a real estate development firm that builds shops and apartments, in 1983. He is the owner of around 30 million sq. ft. of Real Estate, primarily in areas near Walmart.
In 2006, e formed a partnership in a winery named ‘Screaming Eagle’, situated in Napa Valley and reportedly assumed full control of it 3 years later.
Kroenke is also a major landowner, with over 2 million sq. ft. of ranches to his name across the United States of America.
Kroenke most impressive business venture arguably came with the launch of Kroenke Sports & Entertainment in 1995. In the United States, the company owns NBA team Denver Nuggets, ice hockey team Colorado Avalanche, and football team Colorado Rapids.
The stadiums of these teams were built by Kroenke’s development companies and are owned by KSE. TicketHorse, a ticketing service started by Kroenke’s company, that provides in-house sales for all his teams.
Kroenke held minority shares in Premier League club Arsenal FC since 2007, but became the sole owner of the team recently. Despite owning multiple sporting teams, it is perhaps his role as the owner of Arsenal that has made his name the most famous in the world of sports.
In 2018, he bid $58million and borrowed $718million to buy the minority stakes that he didn’t own. Arsenal were then subsequently delisted from the stock market as Kroenke owned 100% of the team.
Kroenke also owns two professional esports team based in Los Angeles, Los Angeles Gladiators and Los Angeles Guerrillas.
Yachts of Stan Kroenke
Stan Kroenke is reportedly the owner of the Oceanco yacht named ‘Jubilee’ which is approximately worth $300million. He reportedly made a bid to purchase the yacht in the 2018 Monaco yacht show.
His wife, Ann Walton, is the owner of the gorgeous ‘Aquila’ yacht, which costs approximately $150million apart from a $1015 million yearly cost of just operating the yacht.
He and his wife, Ann Walton, donated $1million to the Red Cross in the aftermath of Hurricane Harvey.
The Los Angeles Rams, a professional American football team owned by Kroenke, have a foundation which supports local youth organizations, albeit depending on donations from other people.
It is a possibility that Kroenke donates anonymously, as he is known to avoid the spotlight. His spokesperson denied any comment on this matter to Forbes.