Joe Lacob-Net Worth, Life, Wife, NBA Team, House, Age, Height
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.
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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.