Where Did Robert Kraft Make His Money
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Patriots owner Bob Kraft was just charged with soliciting prostitution. Here's how he made his $4.3 billion fortune, from working at his father-in-law's packaging company to buying the NFL team for $172 million.
- Robert Kraft, the billionaire owner of the New England Patriots who was just charged with soliciting prostitution, is worth at least $4.36 billion.
- He made his fortune in paper manufacturing as the owner of the paper companies Rand-Whitney and International Forest Products. Kraft also owns half of New-Indy.
- The 77-year-old billionaire bought the Patriots for $172 million in 1994. The team is now valued at $3.5 billion.
Robert Kraft, the billionaire owner of the New England Patriots, was charged with two counts of soliciting prostitution on Friday.
Kraft, who also owns two-and-a-half paper companies, a shopping mall, an office park, and a soccer team, is worth at least $4.36 billion — although another estimate puts his net worth at $6.6 billion.
Here's a look at the wealth, career, and life of the Patriots owner.
Robert Kraft, the billionaire owner of the NFL's New England Patriots, is worth an estimated $4.36 billion, according to Bloomberg. Forbes, however, estimates a higher net worth of $6.6 billion.
Source: Bloomberg, Forbes
The Patriots owner was charged with two counts of soliciting prostitution on February 22, 2019.
Source: Business Insider
Kraft made his fortune in paper manufacturing.
Source:Forbes via Business Insider
The son of a textile worker and synagogue leader, Kraft attended Columbia University and later enrolled in Harvard Business School.
Source: Bloomberg
In 1963, Kraft married Myra Hiatt, who he met in a deli in Boston.
Source: Bloomberg
After graduating from Harvard, Kraft got a job at the Rand-Whitney Group, a packaging company owned by his wife's father. Three years later, he acquired a majority stake in the company. Kraft went on to expand his presence in the paper and packaging industries, starting International Paper Products in 1972.
Source: Bloomberg
Before buying the Patriots in 1994, Kraft was a season-ticket holder for 23 years. He bought the team's Sullivan Stadium in Foxboro, Massachusetts, out of bankruptcy court in 1988.
Source:Patriots.com via Business Insider
Six years later, he bought the Patriots for $172 million, a record at the time.
Source: Bloomberg
Kraft was reportedly offered a lucrative buyout to allow the Patriots to terminate their lease with their stadium and move out of New England, but he refused and opted to buy the team instead.
Source:Patriots.com via Business Insider
Under Kraft's ownership, the Patriots have won six Super Bowls since 2001.
Source: Business Insider
The Patriots are one of the most valuable teams in the NFL, valued at an estimated $3.5 billion.
Source: Bloomberg
In 2011, Myra, Kraft's wife of nearly 50 nears, died of ovarian cancer.
Source: Business Insider, Bloomberg
In 2012, Kraft started dating the actress Ricki Noel Lander.
Source: Business Insider
The couple are frequently seen together at sporting events, including at Boston Celtics games and the US Open.
In 2017, Lander gave birth to a daughter, of whom Kraft has said he is not the biological father. He did, however, reportedly buy Lander a mansion in Los Angeles and is invested in the upbringing of the child.
Source:Sporting News via Business Insider
Kraft donated to Barack Obama's reelection campaign.
He has also praised Donald Trump in public interviews and described the president as a "close friend."
Source: Boston.com
In 2005, Kraft reportedly "accidentally" gave a Super Bowl ring to Russian President Vladimir Putin while on a business trip to Russia. Kraft said he showed his 2004 Super Bowl ring to Putin, who apparently tried it on and never gave it back.
Source: Business Insider
In addition to his ownership of the Patriots, Kraft owns the New England Revolution soccer team, one of the 10 original MLS clubs.
Source: Business Insider
He's still very involved in the paper business as the owner of the paper companies Rand-Whitney and International Forest Products. Kraft also owns half of New-Indy.
Source: Bloomberg
Kraft lives in Brookline, Massachusetts, about six miles from Boston.
Source: Bloomberg, Google Maps
He's active on the boards of the Dana-Farber Cancer Institute, Boston College, and the Massachusetts Competitive Partnership.
Source: Bloomberg
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Where Did Robert Kraft Make His Money
Source: https://www.businessinsider.com/robert-kraft-patriots-net-worth-career-life-photos-2019-2
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