Philip Anschutz Net Worth
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4 min read
Net Worth
| Net Worth | Salary | Birthdate | Birthplace | Gender | Height | Profession | Nationality |
|---|---|---|---|---|---|---|---|
| $13 billion | N/A | December 28, 1939 | Russell, Kansas | Male | N/A | Entrepreneur | American |
Highlights
Philip Anschutz is an American entrepreneur who has maintained billionaire status since 1982. He is the founder of Anschutz Entertainment Group (AEG), which owns a 27-acre entertainment complex in Los Angeles called L.A. Live, along with significant stakes in four professional sports teams and 12 sports arenas. AEG also operates one of the largest concert promotion companies in the world, known for organizing the Coachella Music Festival.
Anschutz’s fortune was derived from various industries, including energy, real estate, telecommunications, and sports and entertainment. He has invested in and owned oil companies, railroad networks, newspapers, performance venues, film companies, and even owns Windstar Cruises. His business interests are vast and diverse.
His contributions to Major League Soccer (MLS) have been instrumental in its development and expansion. He has owned several MLS teams, including the Chicago Fire, Colorado Rapids, and San Jose Earthquakes. Anschutz is also the principal owner of the NHL’s Los Angeles Kings and a minority owner of the NBA’s Los Angeles Lakers. He owns stakes in major indoor venues such as the Staples Center and the O2 Arena.
Early Life
Philip Anschutz was born on December 28, 1939, in Russell, Kansas. He attended Wichita High School East and graduated in 1957. He then pursued his Bachelor of Arts degree in business from the University of Kansas, which he earned in 1961.
Career
Anschutz’s career began in the oil business in the 1970s, where he earned significant profits. He made a notable sale in 1982 when he sold a 50% stake in the Prudhoe Bay oil field in Alaska to Mobil for $500 million. This marked the start of his successful ventures in various industries.
In 1984, Anschutz entered the railroad industry by acquiring Rio Grande Industries. He later acquired the Southern Pacific Railroad in 1988, and the Southern Pacific merged with the Union Pacific Corporation in the 1990s. Anschutz also ventured into the telecommunications industry in 1996 by founding Qwest Communications, a telecommunications carrier that provided service to 14 states. However, the company faced challenges and was eventually acquired by CenturyLink in 2010.
Anschutz’s investments in sports and entertainment have been particularly successful. He founded the Anschutz Entertainment Group in 1994, which became the world’s largest owner of sports teams, events, and venues. Through AEG Live, Anschutz owns the renowned Coachella Valley Music and Arts Festival. He also owns Walden Media, Regal Entertainment Group, and the Broadmoor hotel in Colorado Springs.
Personal Life
Philip Anschutz is married to his wife Nancy, whom he met when he was 16. They have three children together. Anschutz prefers to stay out of the public eye and has granted only a few formal interviews since 1979.
Net Worth Over Time
Philip Anschutz’s net worth is currently estimated to be $13 billion. He has consistently maintained billionaire status since 1982, making him one of the longest-standing billionaires in America. Anschutz’s fortune is primarily derived from his Denver-based conglomerate Anschutz Corp, with AEG being the most valuable and famous of his over 150 companies.
Components of Net Worth
Anschutz’s net worth is composed of various assets and investments across industries such as energy, real estate, telecommunications, and sports and entertainment. His ownership of Anschutz Entertainment Group, with its extensive sports teams and arenas, is a significant contributor to his net worth. Additionally, his previous ventures in the oil and railroad industries, as well as his film companies and other business interests, have contributed to his overall wealth.
In addition to his entrepreneurial success, Anschutz is also known for his philanthropy. He has donated over $100 million to establish the Anschutz Medical Campus at the University of Colorado in Aurora. He and his wife have also contributed to other educational institutions, including the University of Kansas.
Overall, Philip Anschutz’s net worth reflects his entrepreneurial acumen and diverse business interests, which have propelled him to maintain billionaire status for almost four decades.
