The LA Dodgers have had an impressive 9-game home winning streak recently, but that streak ended after the grounds of Dodger Stadium literally shook last Friday. That earthquake didn’t affect the players enough to distract them from the ball game. Even so, the record that was broken still says a lot about the Los Angeles Dodgers team. It also says a lot about the franchise itself, which is spearheaded by owner Mark Walter. Walter has owned the Dodgers since 2012, but this owner is more than meets the eye. Here are 10 things you probably didn’t know about Mark Walter.
1. Net worth
Let’s discuss Walter’s net worth from the beginning. His current real-time net worth is $ 3.6 billion. That is not a silly change. But quantity is not the best part of it all. Forbes reports that Walter is a self-made billionaire. He definitely didn’t get his riches from his background. He made his own fortune through successful businesses and excellent money management. Walter has increased his net worth more and more over the years, but he was a billionaire even before 2014.
Walter is very interested in entertainment and his company bought a stake in Dick Clark Productions. The successful entertainment production company was founded by television personality Dick Clark. Dick Clark Productions focuses his energy on special programming. The company has held the Golden Globes, the Academy of Country Music Awards, So You Think You Can Dance, and the American Music Awards, among many others. Some of Guggenheim’s other acquisitions include Prometheus Global Media and CardCash in 2013. Additionally, Walter’s company also acquired the WNBA Los Angeles Sparks team in 2014.
3. Guggenheim Partners
In 2000, Walter helped found Guggenheim Partners, LLC, which is a global diversified financial services company. Walter’s company is extremely large. They have 25 offices in six countries around the world. The company also employs more than 2,300 employees and manages more than $ 260 billion in assets. Walter currently serves as the CEO of the company and has only led the company to grow over the years. Before Guggenheim Partners, Walter co-founded a much smaller financial services firm, Liberty Hampshire Company, LLC, in 1996. The company was based in Chicago and was also co-founded by Steven E. Johnson.
4. Management of Guggenheim Baseball
Walter started a partnership in 2011 for the sole purpose of acquiring the LA Dodgers. The result was Guggenheim Baseball Management, LLC, and they acquired the MLB team for $ 2.15 billion in cash. This incredible amount of cash set the record for any sports franchise. Walters would have partners along the way. Guggenheim President Todd Boehly is listed as a partner, in addition to Bobby Patton, Magic Johnson, Stan Kasten and Peter Gruber.
Walter was born and raised in Cedar Rapids, Iowa. In fact, the billionaire also attended high school in town at Cedar Rapids Jefferson High School. For college, Walter received his Bachelor of Arts degree from Creighton University, a Jesuit Catholic university located in Omaha, Nebraska. From there, Walter earned his law degree from Northwestern University. Walter is a Juris Doctor, but decided not to practice law after finishing school. Instead, he ended up going to finance.
Since becoming owner of the Dodgers, Walter has done quite well spending money for the franchise. You could also call it an investment in a sense, especially since it was his record multi-billion dollar purchase that brought the Dodgers out of bankruptcy. Walter has spent more than $ 100 million on stadium improvements. He also paid $ 85 million for a contract for Andre Ethier to play for the team. He has spent more than any other owner in Dodgers history, and it seems that the spending is slowly paying off.
7. More spending
With his net worth, spending money is probably not a problem for Mark Walter. You will probably get everything back quickly with your success. However, it is important to note that not all of Walter’s expenses are for himself. In fact, most of his spending with the Dodgers was for the betterment of the team. Walter has also spent $ 40 million on a major donation for Northwestern University. We understand this because Northwestern is Walter’s alma mater, but it is still a large sum even for a donation.