Robert Sarver’s Wealth

Robert Sarver has a net worth of $400 Million

Who is Robert Sarver?

Born in 1961 in Tucson, Arizona USA, Robert Sarver is a businessman of Jewish descent, prominently recognized as the majority owner of the Phoenix Suns, a National Basketball Association (NBA) team. His ownership of the team dates back to 2004, and he has also made efforts to acquire other sports franchises, all of which have significantly contributed to his current net worth.

By late-2016, Robert Sarver’s net worth was estimated at $400 million, amassed through successful investments. He also holds ownership of the Women’s National Basketball Association (WNBA) team, the Phoenix Mercury, and the Spanish Segunda Division Club RCD Mallorca. With ongoing investments, it’s anticipated that his wealth will continue to grow.

Robert Sarver’s Net Worth: $400 million

Robert’s father, Jack Sarver, was a notable businessman recognized for developing the Aztec Inn and Plaza International Hotel (now Aloft Hotel). At the age of 16, Robert began working for his father’s company, American Savings and Loan, while attending Sabino High School and later earning a degree in business administration from the University of Arizona in 1982, followed by becoming a public accountant the next year. His father passed away from a heart attack during Robert’s high school graduation year.

In 1984, Robert established the National Bank of Tucson, which later evolved into the National Bank of Arizona. In 1990, he founded a real estate company called Southwest Value Partners. Subsequently, he sold the National Bank of Arizona to Zions Bancorporation in 1994, and a year later, purchased the Emerald Plaza in San Diego. His business acumen continued as he acquired Grossmont Bank in 1995, and then sold it to Zions Bancorporation two years later. Notably, in 2004, he sold the Emerald Plaza and other office buildings to Triple Net Properties for $274.5 million, significantly elevating his net worth. During this period, he also served as the CEO of Western Alliance Bancorporation and assisted Zions in acquiring Sumitomo Bank of California.

Following his business pursuits, Robert shifted his focus to his passion for sports and pursued ownership of the Phoenix Suns. With the assistance of University of Arizona basketball coach Lute Olson and introductions to Steve Kerr, he successfully acquired the team in 2004 for $401 million. In 2015, his attempt to purchase the Scottish Rangers Football Club was declined. However, the following year, he acquired RCD Mallorca for a substantial sum, further strengthening his financial standing.

On the personal front, Robert married Penny Sanders in 1996, and they have three sons. The family resides in Paradise Valley, Arizona. Robert has made charitable donations to the University of Arizona heart research center, which was renamed the Sarver Heart Center in his father’s honor. He also serves on the center’s Board of Trustees, which was one of the pioneering groups in heart bypass surgery. The center encompasses over 40 dedicated researchers and physicians focused on combating heart disease. In addition to his philanthropy, Robert enjoys playing volleyball, tennis, and golf.