Some of them also choose to get into sports franchise ownership, whether it's football, basketball, hockey, or soccer.
Here's a look at some of the megarich owners of major sports franchises in the US. All net worth estimates are from the Bloomberg Billionaires Index.
Former Microsoft CEO Steve Ballmer
Steve Ballmer, center, at a Clippers game.
Kevork Djansezian/Getty Images
Ballmer, who is worth $145 billion, bought the NBA's Los Angeles Clippers in 2014, the same year he left Microsoft. He paid $2 billion, setting a record at the time for sale of a professional basketball team.
Walmart heir Rob Walton
Rob Walton led a group to buy the Denver Broncos in 2022.
Together with his daughter Carrie Walton Penner, her husband and Walmart Chairman, Greg Penner, and Ariel Investments co-CEO Mellody Hobson, they paid $4.65 billion for the Denver Broncos football franchise in 2022.
"Having lived and worked in Colorado, we've always admired the Broncos," Walton said in a statement at the time. "Carrie, Greg, and I are inspired by the opportunity to steward this great organization in a vibrant community full of opportunity and passionate fans."
The sale broke a record for the most expensive sale of a professional sports team in North America at the time, though it has since been broken by a $6.1 billion sale of the Washington Commanders to a group led by private equity billionaire Josh Harris.
Rocket Mortgage cofounder Dan Gilbert
Dan Gilbert is the majority owner of the Cleveland Cavaliers.
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Gilbert, who is worth $32.7 billion, led a group that included Usher to buy the Cleveland Cavaliers basketball team in 2005 for $375 million.
Casino magnate Miriam Adelson
Miriam Adelson is the widow of casino magnate Sheldon Adelson.
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Miriam Adelson is the widow of billionaire casino mogul Sheldon Adelson, who was the CEO of the Las Vegas Sands. She bought a majority stake in the NBA's Dallas Mavericks from Mark Cuban, who retains control over operations, in a $3.5 billion deal.
Hedge funder David Tepper
Before buying the Carolina Panthers, Tepper was previously a minority owner of the Pittsburgh Steelers.
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Tepper, the founder of global hedge fund Appaloosa Management, has a net worth of $20.1 billion. He bought the Carolina Panthers in 2018 for $2.275 billion in a record for the NFL at the time.
He previously had an estimated 5% ownership stake in the Pittsburgh Steelers.
Tepper also owns Major League Soccer franchise Charlotte FC, for which he reportedly paid an estimated $325 million expansion fee.
Hedge funder Steve Cohen
New York Mets owner Steve Cohen during opening ceremonies for the Mets' 2023 home opener at Citi Field in New York.
Thomas A. Ferrara/Newsday RM Getty Images
Hedge fund manager Steve Cohen, worth $15.7 billion, bought the New York Mets baseball team in 2020 for a record $2.4 billion.
He had first bought an 8% limited partnership stake in the team for $40 million in 2012.
Real estate mogul Stanley Kroenke
Kroenke owns teams across several sports through his holding company, Kroenke Sports & Entertainment.
Steve Dykes/Getty
Kroenke, who made his $19.6 billion fortune in real estate and sports, owns several US sports teams, including the Los Angeles Rams, an NFL team, and the Denver Nuggets, an NBA team. He also owns the hockey team Colorado Avalanche and the soccer club Colorado Rapids.
He also owns English soccer clubs Arsenal FC and Arsenal Women's FC.
Oil, railroad, and entertainment titan Philip Anschutz
Anschutz Entertainment Group owns several big names in sports and music, including Coachella.
Lucy Nicholson/REUTERS
Anschutz, who is worth $19.1 billion, is the founder of Anschutz Entertainment Group, which owns the Los Angeles Kings hockey team and soccer club LA Galaxy.
Broadcom cofounder Henry Samueli
Henry Samueli and his wife, Susan, own the Anaheim Ducks.
Getty/Orange County Register
Samueli, the founder of semiconductor company Broadcom is worth $17 billion. He bought the Anaheim Ducks NHL franchise from the Walt Disney Company in 2005 alongside his wife, Susan. The purchase price and terms of the deal were not made public.
Oil wildcatter Jerry Jones
Jerry Jones has owned the Dallas Cowboys for decades.
Matt Rourke/AP Images
Jones, who is worth $12.8 billion, bought the Dallas Cowboys in 1989 for $140 million. His investment has more than paid off: The football team is believed to be the most valuable in the world, worth an estimated $9 billion.
