How rich is Robert Kraft?
Robert K. Kraft made NFL history. After all, the clever sports official was able to help the New England Patriots achieve their current success. The entrepreneur bought the NFL team in 1994 for a sensational 142 million euros. In the meantime, Robert Kraft, whose wife Myra Nathalie Hiatt unfortunately died of cancer at the age of 68 in 2011, has amassed a considerable billion-dollar fortune. In 2014, the smart businessman’s fortune was just over 3.3 billion euros. Back then, he made it to # 122 on Forbes’ list of the richest people in the United States. In the meantime he has made up numerous places. Because in just a few years the fortune of the father of four has grown to over 5 billion US dollars. Robert Kraft has assets of 7.33 billion euros and is one of the richest people in the world.
The New England Patriots owner and his team have already won numerous Super Bowl wins. So Robert Kraft seems to have done a lot right and continues to do it. Today’s sports official did not initially make his fortune in the world of sports. Rather, he became with various paper products to a millionaire and only thanks to the NFL to a billionaire.
The fact that the self-made billionaire completed a very good education at two of the most elite universities in the United States certainly didn’t hurt him on the way up. Robert Kraft received his bachelor’s degree from the prestigious Columbia University in New York City on the east coast of the USA. The current NFL team owner then headed north to Boston, where he received his Master of Business Administration from the Harvard Business School received.
The American Dream – the life of Robert Kraft
For Robert K. Kraft, his American dream has more than come true. The entrepreneur had a nose for the next real move early on. It was the same for him when he was hired at his father-in-law’s paper products company. Before globalization found its way into most people’s lives, Kraft was certain that it was important to position his company internationally. With this foresight he was able to rake in the first millions. Today’s billionaire was also interested in the world of sports at an early age. In 1974, for example, Kraft joined forces with five other entrepreneurs to World Team Tennis Boston Lobsters to buy.
The new sports officials spent a lot of money together to secure some of the top players from the tennis world of that time. This also included Martina Navratilova. Indeed, thanks to these investments, the Lobsters managed to become one of the best teams in the world team tennis world. Before Robert Kraft could celebrate groundbreaking success with the New England Patriots, he had already tried twice in vain to buy the team. But his tenacity should pay off. The avowed sports fan had already bid (unsuccessfully) for the Boston Celtics and the Boston Red Sox. However, all NFL fans will surely be delighted to see Kraft in the end Owner of the New England Patriots has become.
This is how Robert Kraft became the owner of the Patriots
It was a very well thought out plan that made Kraft’s ownership of the Patriots possible in the end. He benefited from the fact that the then team owner Billy Sullivan owned the Patriots Stadium, but not the surrounding land. So when Robert Kraft was able to secure an option at Foxboro Raceway, a horse racing track in close proximity to the Patriots’ NFL stadium, he didn’t hesitate for a moment. Finally, he was able to get hold of the stadium himself from the bankruptcy estate of the previous owners at an auction in 1988. Robert Kraft outbid numerous interested parties and finally paid the equivalent of 18.2 million euros for this aging property.
In fact, the stadium itself was of little value. However, the rights to the NFL team were closely intertwined with the stadium. After all, Kraft had a say in important decisions. While the team changed hands again over the next few years, Robert Kraft was able to prevent the Patriots from being relocated to other locations due to the rights he acquired at the auction. With a lot of patience and the necessary change, it succeeded Robert K. Kraft then finally in 1994 to call the New England Patriots his own.
At the time, it was the ones that had been paid 142 million euros, the highest sum ever paid for an NFL team. In retrospect, it was a smart move that made the Kraft family rise to the ranks of billionaires. Still today, Robert Kraft admits that he had to break all the property rules that he had imposed on himself in order to be celebrated as the owner of the Patriots.
Cover picture: kathclick / Bigstock.com
Debby Wong / Bigstock.com
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