Having purchased the Washington Commanders in July 2023, Josh Harris is the newest NFL owner — and he definitely isn’t your prototypical NFL owner.
This became evident when he made a splash by buying local fans free beers. From offering complimentary drinks to his bold business approach at the executive level, NFL fans should take note of his name and the success that’s likely to follow.
What is Harris’ net worth, and how did he accumulate his wealth?
How Wealthy Is Josh Harris?
Harris is looking to be the next innovative “toy” in what’s to come in sports ownership, and many would argue he’s already well on his way.
Last year, Harris led an investor group that purchased the Commanders for a staggering $6.05 billion—the highest price ever paid for not just an NFL team but any North American sports franchise.
"I really get excited about fixing the place up for our fans"
Josh Harris on the renovations at @CommandersField ⤵️ pic.twitter.com/YJE8960wVr
— Washington Commanders (@Commanders) August 25, 2024
As a co-founder of the private equity firm Apollo Global Management, which he started in 1990 with a few other billionaires, Harris also serves as managing partner of the NBA’s Philadelphia 76ers and the NHL’s New Jersey Devils. His net worth exceeds $9 billion.
Harris’ ownership across multiple leagues is fascinating. Not many before him have had this diverse of a portfolio specifically within professional team ownership. As the value of teams continues to grow, Harris said he “expects to see more and more private equity deals for sports teams.”
Where Did Harris’ Net Worth Come From?
Harris attended both Penn and Harvard before beginning his career in mergers and acquisitions at Drexel Burnham Lambert, eventually co-founding Apollo Global.
In 2022, Harvard Business School announced the creation of the “Harris Family Fund,” established by Harris and his family to promote diversity and inclusion in sports management.
MORE: Who Are the NFL’s Richest Owners?
During the 2008 financial crisis, Harris made one of the most successful private equity deals, as Apollo acquired a chemical company for $2 billion, which grew to nearly $12 billion in value within five years.
In 2021, Harris stepped away from Apollo Global and founded 26North, an asset management firm that now manages around $22 billion in assets. By May 2024, 26North had secured a $5 billion insurance deal, further expanding its reach.
Owning a stake in the 76ers has proven to be a savvy investment, with the team’s value more than quadrupling since Harris and his partners purchased it for an estimated $290 million in 2011.
Harris’ corporate expertise has clearly paid off, demonstrating success in the sports world as well.