- Dan Gilbert owns the Cleveland Cavaliers.
- Gilbert bought the Cavaliers for $375 million.
- His net worth is $27.8 billion.
The Cleveland Cavaliers have been under the same ownership since LeBron James’ second season in the league.
James helped the Cavs win a championship in 2016 during his second stint with his hometown team, thus capitalising on their short NBA Finals odds.
With that said, who owns the Cavaliers? Let’s find out.
Who Owns the Cleveland Cavaliers?
Dan Gilbert owns the Cavaliers.
Gilbert is the co-founder and majority owner of Rocket Mortgage, formerly Quicken Loans, and founder of Rock Ventures.
He also cofounded StockX, where high-demand and limited-edition items, such as sneakers, can be purchased.
Gilbert also owns the Cleveland Monsters, the AHL affiliate of the Columbus Blue Jackets.
What is Dan Gilbert’s Net Worth?
Gilbert’s net worth is $27.8 billion, according to Forbes.
How Much Did Dan Gilbert Buy the Cleveland Cavaliers For?
Gilbert bought the Cavaliers for $375 million from Gordon Gund in January 2005.
It was a then record price for an NBA team.
How Much of the Cavaliers Does Usher Own?
Usher is estimated to own 1% of the Cavaliers, as he invested $9 million in the franchise in 2005.
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