What is Robert Kraft’s Net Worth?
Robert Kraft is a businessman, entrepreneur, and very well known as the owner of the New England Patriots. He is the CEO of The Kraft Group, and he’s worth more money than you can imagine. But how much has Kraft’s successful career helped him earn? We break down Kraft’s net worth.
Kraft is the CEO of The Kraft Group
Kraft has been in the business world for many years. He gained control of his father-in-law’s packaging company way back in 1968. And since then, he’s built an unimaginable empire. He founded a paper commodities company back in 1972, which produced packaging for some of the world’s most common products. Kraft’s packaging company was used virtually everywhere, and over the years, he added other companies to his resume. He eventually founded The Kraft Group for all of his different business ventures. He also had a stint as the president of New England television but sold his shares in the 1990s for an estimated $25 million.
Kraft also owns the New England Patriots
Kraft is one of those businessman who has a stake in almost any area of business you can think of — including sports. For a while in the 1970s, Kraft owned the Boston Lobsters — a tennis team at the time. After the team folded, Kraft still wanted to stay involved in the sports world. He’d been a New England Patriots fan for most of his life and had been a season ticket holder since the 1970s. In 1994, Kraft made an offer to purchase the Patriots for $172 million, and it was accepted. Since then, he’s built the team into a billion-dollar franchise. According to Forbes, the team was worth $3.7 billion after about 15 years — and that’s not including everything Tom Brady has brought to the table.
The Kraft Group has donated more than $100 million to various charities
Kraft has made plenty of money through the years, but he hasn’t kept it all for himself. The Kraft Group does a lot of philanthropic work and has donated more than $400 million to various charities since its launch. The Kraft Family Foundation is the company’s main charity along with the Kraft Center for Community Health Leadership. The Kraft Family Blood Lab is another charity, which helps collect blood platelets with the hope of finding a cure for cancer. The Kraft Group also supports charities through the New England Patriots.
Today, Kraft is worth an estimated $6.6 billion
Kraft has been in big businesses since the 1960s, and he has the net worth to show for it. The Kraft Group, along with the New England Patriots, has helped Kraft accumulate a net worth of around $6.6 billion, according to Forbes. He’s one of the wealthiest men in the country and is no. 79 on the Forbes 400 list. (The list details the 400 wealthiest people in the country.) However, Kraft’s money and power recently may have gotten him into trouble. In February 2019, Kraft was arrested for allegedly soliciting prostitution at a Florida spa. The arrest is brand new, so it’s unclear yet what it will do to his company, his football team, and his reputation.
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