How did James Dolan make his money? Net worth and more to know about Knicks owner's businesses

How did James Dolan make his money? Net worth and more to know about Knicks owner’s businesses originally appeared on The Sporting News.
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For better or for worse, many sports fans have heard of James Dolan. The current owner of the New York Knicks and New York Rangers has been in the news in the past.

He has recently been put out of the spotlight in recent years, so some fans may not be familiar with the NY businessman like they once were. After 27 years, his Knicks have finally made the NBA Finals, and his name may become fresh in people’s minds once more.

His journey to the top of the New York sports empire has been murky, and has been one that many may have questions about.

Here’s how the man who owns one of America’s most valuable teams has risen to riches.

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How did James Dolan make his money?

Dolan made his money after he became the Cablevision CEO in 1995, according to the MSG leadership page.

The Knicks’ owner originally started his career in the music industry, but struggled to take off in the scene. According to ClutchPoints, his father, Charles, gave him a job at Cablevision. In 1995, his son was elected as the company’s CEO, largely because “no one else wanted it,” according to New York Magazine.

Once James’s Cablevision bought out another company, which also owned a share of Madison Square Garden, he earned full rights to both the Knicks and Rangers. This came after he became MSG chairman and the day-to-day head of the sports teams and regional sports networks’ operations.

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How much did James Dolan pay for the Knicks?

While Dolan never directly paid for ownership of the Knicks, his family’s company, Cablevision, bought the company that previously owned the Madison Square Garden Company and its holdings for $600 million in 1997, according to ClutchPoints.

Around 20 years before that purchase, Gulf and Western Industries purchased ownership of the Madison Square Garden Company. In that deal came the Knicks and Rangers, who played in the arena. In 1989, Gulf and Western Industries became Paramount Corporation, a company that was later bought out by Viacom five years later. MSG would acquire Cablevision, the company that Dolan’s father founded, and ITT Corporation.

Two years after Dolan was promoted to Cablevision CEO, his company bought ITT Corp. for $600 million. In 1999, Dolan became MSG chairman and the day-to-day head of the sports teams and regional sports networks operations, leading to ownership of the Knicks and Rangers.

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What is James Dolan’s net worth?

According to Celebrity Net Worth, Dolan’s net worth sits around $2 billion. He is currently the chief executive officer of Madison Square Garden Sports and Madison Square Garden Entertainment.

With that position comes an ownership of the two sports franchises that play in “The World’s Most Famous Arena,” the Knicks and New York Rangers.

Richest NBA owners

Here are the 10 richest owners in the NBA, according to BetMGM.

RankOwnerTeamNet worth1.Steve BallmerClippers$146.3 billion2.Miriam Adelson, Patrick DumontMavericks$38.7 billion3.Dan GilbertCavaliers$32.7 billion4.Robert J. PeraGrizzlies$26 billion5.Stan KroenkeNuggets$21.3 billion6.Joseph TsaiNets$13.7 billion7.Tony ResslerHawks$13.5 billion8.Josh Harris76ers$11.3 billion9.Tilman FertittaRockets$10.6 billion10.Micky ArisonHeat$10.1 billion

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