Joe Lacob, an American business executive is the majority owner of the NBA team Golden State Warriors since 2010. He focuses on the day-to-day operation of the team, which valued the 7th-highest valued sports franchise in 2018 with a value of $3.1 billion.
Furthermore, Lacob is a partner at the venture capital firm Kleiner Perkins; he joined the firm in 1987 & has invested in over 50 startups.
Joe Lacob Is A Billionaire: Net Worth In 2020?
According to Forbes, 64-year-old Lacob has a net worth of $1.2 billion as of April 30, 2020.
Without a doubt, Joe’s firm step in the business venture as a partner of Kleiner Perkins in 1987 turned out the backbone of his fortune; in 2019, the firm reportedly raised over $9 billion from 19 venture capital funds & 4 growth funds.
In 2010, the American business executive became the majority owner of NBA franchise Golden State Warriors & owns 25% stake in the team.
Reportedly, Joe Lacob’s stake is worth over $900 million currently.
After Lacob became the majority owner of Golden State Warriors, the team has won 3 NBA Championships: 2015 NBA Finals (2014- 2015 Season), 2017 NBA Finals, and 2018 NBA Finals.
As for a fact, the winning team in 2015 NBA Finals made $2.6 million from the pool of $15 million, while it rose up to $3.3 million in 2018 (pool was $20 million).
In 2018- 2019 Season, the Warriors generated a revenue of $440 million; more than that of Los Angeles Lakers ($434 million).
Interesting Fact: Lacob’s firm Kleiner Perkins is among the early investors in Amazon; through an initial investment of $8 million, it received over $1 billion in returns.
NBA Franchise ‘Golden State Warriors’ Worth: How Much He Paid For Its Acquisition?
Along with Peter Guber of Mandalay Entertainment, Lacob bought the NBA team Golden State Warriors from Chris Cohan on July 25, 2010, for a reported $450 million.
As for a fact, the Guber-Lacob group won over the bidding of man other business personalities: Larry Ellison (CEO of Oracle), Mark Mastrov (24-Hour Fitness founder), and David Bonderman.
In 2010, the NBA team was valued at $315 million & as per the report of February 2020, the Golden State Warriors’ value rose by 13 fold & is estimated at $4.3 billion.
After taking the charge of the day-to-day operation of the Warriors, he led the acquisition of David Lee & Jeremy Lin; moreover, Joe fired coach Don Nelson & replaced him with asst. coach Keith Smart.
Did you know? In early 2006, Lacob was part-owner of the NBA team Boston Celtics, however, he later sold his minority stakes for the purchase of the Warriors.
Failed Venture In Basketball Investment
Formerly, Lacob was a primary investor in the American Basketball League, until it folded in 1998, being incompetent to Women’s National Basketball Association (WNBA).
“Light Years” Controversy & Comments On Kevin Durant
In the 2015- 2016 season, Joe Lacob commented on his team Golden State Warriors (GSW) as ‘light years’ ahead of others, as they finished top-seed in the regular season.
The statement created a lot of controversies but also grabbed the attention of taunts after the Warriors placed runner-up to then-champ Cleveland Cavaliers.
In April 2020, the Golden State‘s majority owner Joe commented on his Kevin Durant’s departure to Brooklyn Nets (via sign-and-trade in 2019 Season).
Even though he acknowledged Durant’s move to Nets as their loss, Lacob also commented on the bright side & stated the team was rebuilding.
Lives With Second Wife: What Properties He Owns?
Currently, Joe Lacob lives with his second wife Nicole Curran. Prior, he was in a marital relationship with Lauri Kraus & welcomed 4 children together: Kirk, Kelly, Kent, and Kayci.
Meanwhile, Joe & his wife Nicole live in their 14,000 square-foot mansion in Atherton, California; he purchased the property in 2007 for $19.8 million.
Furthermore, the couple owns a 5,512-sq. ft. house in Malibu. The 5-bedroom & 6-bathroom property cost them $29.1 million at the time of purchase in September 2019 from Joseph Englanoff.
Reportedly, the Golden State Warriors owner Lacob put his 4,100-square-foot mansion in Kailua, Hawaii for sale in 2016, asking $7 million.
However, the sales report of the single-story property with 4 bedrooms & 4.5 bathrooms is yet to be out.
Lacob actively participates in charity works & has associations with the American Heart Association and the AHA Roundtable.
In 2014, he donated $1 million to Washington University in St. Louis for a new Sports Management program at Olin Business School.
His wife Nicole serves the president of Warriors Community Foundation; the organization pledged $1.5 million to 49 organizations in Alameda and San Francisco Counties, which aims to improve educational equity.
Furthermore, in March 2020, the foundation announced to establish COVID-19 Disaster Relief Fund, & made a contribution of $1 million through Warriors ownership, players, and coaches.
Joe was born on January 10, 1956, in New Bedford, Massachusetts, the USA. His birth name is Joseph Steven Lacob.
Raised in a Jewish family, Lacob’s family moved to Anaheim, California. He enrolled at the University of California, Irvine & obtained a bachelor’s degree in biological sciences in 1978.
Thereafter, he attended the University of California, Los Angeles (UCLA) & earned a master’s degree in public health. Joe is also an MBA from the Stanford Graduate School of Business.