James L. Dolan is an American business executive and the son of the billionaire founder of Cablevision Systems Corporation, Charles Dolan. He served as the CEO of Cablevision until it was sold in 2016.
Despite having enough wealth to last a lifetime courtesy of his billion-dollar inheritance, James never once rested upon his laurels and branched out from Cablevision to resurrect The Madison Square Garden Company, where he currently serves as the chairman.
What Is James L. Dolan’s Net Worth In 2020?
As of March 2020, James L. Dolan’s net worth is $2 billion. Dolan is one of six children born to billionaire Charles Dolan and his wife, Helen Ann. Charles was the founder behind the original HBO premium cable service and the founder of Cablevision Systems Corporation.
James has served as the CEO of Cablevision as well as embarked on his own business ventures. Currently, he serves as the executive chairman and CEO of the sports entertainment conglomerate, The Madison Square Garden Company, as well as the executive chairman of the cable and satellite channel empire MSG Networks.
Entrepreneurship
Despite seemingly destined for entrepreneurship, James envisioned a different career: music, but when that didn’t pan out, he was offered a job by his father at Cablevision.
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He started out overseeing a sports radio station in Cleveland, Ohio. James took to the job like fish to water and started ascending the ranks. During this time, Cablevision acquired 50% of the assets of the Madison Square Garden company from Viacom in 1994.
Not long after, James was appointed the CEO of Cablevision in 1995. Two years later and Cablevision acquired 100% of the assets of the Madison Square Garden company.
James held the position of CEO until it was sold to Altice Europe N.V. for $17.7 billion in 2016.
James and his father frequently clashed over the creative vision of Cablevision’s future, and as a result, James branched away from his father and attempting external business ventures, albeit without much success. His failed business ventures reportedly cost him around $250 million.
Not one to be deterred, James found success in 2010 when he branched out from Cablevision and resurrected The Madison Square Garden Company.
He gained ownership over the NBA team, the New York Knicks; the NHL team, the New York Rangers; and the woman’s basketball team, the New York Liberty. He also gained executive control over their regional sports network and the Madison Square Garden stadium itself.
The global expansion of The Madison Square Garden Company continued with its assimilation of The Beacon Theater, Radio City Music Hall, and the Los Angeles Forum.
Bought The Majority Stake In Tao Group For $181 Million
In February 2017, The Madison Square Garden Company announced that it had bought the majority stake of 62.5% in the hospitality brand, Tao Group, for $181 million. The rest of the 37.5% stake will be shared among the founding members, Marc Packer, Rich Wolf, Noah Tepperberg, and Jason Strauss.
The group has over 19 outlets all over the world, including places like New York, Las Vegas, and Sydney.
Speaking on the acquisition, James said in a press hearing,
“Tao Group is a unique and attractive business that furthers our focus on the ‘live experience’ while also exposing us to new areas of growth … We now have a tremendous opportunity to utilize that expertise across our live offerings, while leveraging each other’s strengths to drive value and growth for both businesses.”
He went on to say:
“[We will] work together to create new and innovative premium hospitality experiences that can be integrated across MSG’s portfolio of live offerings.”
Musicianship
Had his musical career panned out as he envisioned, we may not have had James L. Dolan, the entrepreneur, but rather James L. Dolan, the musician.
Despite the years that have passed and his burgeoning responsibility as the CEO of a multi-billion-dollar global conglomerate, James still finds time to indulge in his other passion for music.
He is a professional karaoke singer who fronts and plays guitar for the roots-rock and country-blues band, JD & The Straight Shot.
The band is little more than a vanity project, and Dolan has used his power and influence to leverage his band into an opening for such acts as The Eagles, The Allman Brothers Band, and ZZ Top.
Despite being bombing at the music charts and being critically panned, it has not stopped them from performing, and to date, they have released seven studio albums and two EPs.
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Dolan himself has been the brunt of most of the criticism, with one reviewer speaking on the band after opening for ZZ Top,
“Dolan’s enthusiasm for playing mediocre American rock did little to make their forgettable performance entertaining.”
Another scathing review read:
“Dolan sings like he’s trying not to cough, and it’s possible he can’t play the guitar. Worse, his songs belie his status as a cosplaying bluesman; most of his lyrics simply summarize current events or books that he’s read as if he were presenting a 10th grade English class project.”
Philanthropy
James has been a supporter of many charity drives, both individually and as part of his organization. He co-established a private foundation in 1998 with his father and one of his executives, Marc Lustgarten, called The Lustgarten Foundation, which raises funding for pancreatic cancer research.
Under his supervision, Cablevision also backed the curePC campaign and raised funding for the annual fundraiser, Holiday Rock & Roll Bash.
Additionally, James has supported various benefit concerts like the “12-12-12” concert, which raised $50 million for Hurricane Sandy relief.
Furthermore, he was also instrumental in organizing the “The Concert For New York City”, which raised $35 million that went to rehabilitating the victims of the 9/11 terrorist attacks, and the “From The Big Apple to The Big Easy” concert, which raised $9 million for Hurricane Katrina relief.
James L. Dolan has also pledged his support for the Garden of Dreams Foundation, which helps New York’s at-risk children.
James L. Dolan: Short Biography
Early Life And Childhood
James Lawrence Dolan was born on May 11, 1955, in Massapequa, New York. He is one of six children born to billionaire Charles Dolan and his wife, Helen Ann.
His other siblings include Kathleen M. Dolan, Thomas Dolan, Marianne Dolan Weber, and Patrick Dolan.
James attended the State University of New York at New Paltz, where he graduated with a degree in communication.
Marriage And Personal Life
James L. Dolan was married to Kristin, an executive of his company, for 15 years before they separated in 2018.
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They got married in 2002, at the Mar-a-Lago resort in Florida and had two children together; James already had four children from his previous marriage.
James L. Dolan is an American business executive and the son of the billionaire founder of Cablevision Systems Corporation, Charles Dolan. He served as the CEO of Cablevision until it was sold in 2016.
Despite having enough wealth to last a lifetime courtesy of his billion-dollar inheritance, James never once rested upon his laurels and branched out from Cablevision to resurrect The Madison Square Garden Company, where he currently serves as the chairman.
