Ted Leonsis is a multi-billionaire who owns a sports franchise, invests in startups, makes movies, writes books, and gives to charity. Ted Leonsis amassed a fortune as a result of his many business ventures, including those in professional sports, the film industry, and as the author of “The Business of Happiness.” Ted has established himself as a successful business builder and seller many times over the past three decades.
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What is Ted Leonsis’s Net Worth?
Net Worth: | $2 Billion |
Date of Birth: | Jan 8, 1957 (65 years old) |
Place of Birth: | Brooklyn |
Gender: | Male |
Profession: | Businessperson, Author, Investor, Philanthropist, Film Producer |
Nationality: | United States of America |
Ted Leonsis’s Early Life.
On January 8, 1957, Theodore John Leonsis was born in Brooklyn, New York to parents who worked as waiters and a secretary, as well as grandparents who had worked as millworkers in Greece. Teenage Ted earned extra cash by mowing lawns, and his high school guidance counselor predicted that he would one day work in a supermarket.
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The wheels were set in motion, however, when Jim Shannon was mowing the lawn of a wealthy stockbroker and Georgetown graduate. After Ted graduated from Lowell High School, Shannon pushed for him to be accepted to Georgetown University.
Ted Leonsis went to college for the first time in 1977 and finished at the top of his class with a degree in American Studies. He eventually settled back in with his family in Lowell, Massachusetts, and found work as a communications manager at Wang Laboratories and a marketing executive at Harris Corporation.
LIST Magazine
At the age of 25, Ted left Harris Corporation and relocated to Florida, where he launched his first business, the publication “LIST,” a technology magazine whose primary focus was on personal computers. With his business partner, Vicent Pica, he was able to get a million dollars in funding.
In 1982, after the first issue was published, it sold a whopping $50,000 in hard copies. Two years later, Ted sold the company to Thomson Reuters for $40 million, pocketing $20 of that.
AOL
Ted Leonsis is a major figure in the history of the Internet. He played a key role in making AOL (originally called America Online) a household name around the world. Leonsis was a senior executive at AOL for 13 years after his pioneering media company, Redgate Communications was purchased by the company in 1994.
Sports Team Ownership
The Washington Capitals (NHL), Wizards (NBA), Mystics (WNBA), and Verizon Center are all owned and operated by Ted Leonsis, who also serves as the company’s founder, chairman, majority owner, and chief executive officer. In an effort to expand its reach in the Washington, DC market, NBC Sports Group has taken a stake in Monumental Network.
Other Ventures & Philanthropy
Ted Leonsis, in his capacity as a venture capitalist, has made a number of individual investments and joined the recently formed “speed-up capital” Revolution Growth Fund II as a partner. Furthermore, Ted Leonsis is the founder, chairman, and largest shareholder of SnagFilms, and he is widely recognized as a prominent figure in the documentary film industry.
He directed and produced the critically acclaimed documentaries “Nanking” (2007), “Kicking It” (2008), and “Fighting Chance” (2010). Ted’s list of supported charities is long and growing, but some of the most notable ones include Best Buddies International, DC Central Kitchen, See Forever Foundation, Venture Philanthropy Partners, and many more.
Ted Leonsis’s Personal Life.
Ted and his wife, Lynn Leonsis, have two kids: a son and a daughter. They tied the knot back in August of 1987.
After selling the family homes in McLean, Virginia, and Vero Beach, Florida, Ted Leonsis spent $20 million in 2011 on a 13-acre estate in Potomac, Maryland. Joseph P. Kennedy and Franklin D. Roosevelt once owned this mansion.