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Cleveland Cavaliers' Dan Gilbert is now the second richest team owner in sports

According to Forbes, Cleveland Cavaliers chairman Dan Gilbert is now the second richest owner in all of sports.
Credit: Carlos Osorio/AP
FILE - In an Oct. 12, 2018, file photo, Quicken Loans and Rock Ventures founder Dan Gilbert is seen during a basketball game in East Lansing, Mich. Gilbert is recovering after suffering a stroke.

CLEVELAND — It’s no secret that every team owner in professional sports has some sort of wealth, to a varying degree. With that said, there are some that certainly are much wealthier than others.

One of Cleveland’s owners can certainly be classified as one of the wealthier of the bunch. Dan Gilbert, the majority owner of the Cleveland Cavaliers, has been named as the second-wealthiest owner in all of sports by Forbes. Gilbert’s net worth is a staggering $30.9 billion. He trails only Steve Ballmer, the owner of the Los Angeles Clippers, who is worth $96.5 billion.

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Gilbert has made his fortune with his company Rocket Mortgage -- formerly known as Quicken Loans. Gilbert’s net worth has jumped quite a bit in the last 18 months, from a reported $6.5 billion to as high as $51.9 billion. This can at least partially be attributed to Rocket Mortgage transitioning to a public company, which Gilbert reportedly owns 95 percent of.

Gilbert wasn’t the only owner of a Cleveland sports team to make the list of the richest owners in sports.

Jimmy Haslam, the majority owner of the Cleveland Browns also found himself on Forbes’ list, slotting in as the 34th-richest owner in sports. Haslam’s net worth is a reported $3.7 billion. Much of Haslam’s wealth can be attributed to his gas station/truck stop empire, Pilot Flying J. Haslam and his wife, Dee, not only own the Cleveland Browns, but also the Columbus Crew of the MLS. 

The complete list from Forbes can be found here.

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