George Michael Steinbrenner III is the owner and former principal executive of The New York Yankees, perhaps the most successful professional sports franchise on the planet. Known as “The Boss” for his sometimes abrasive, but always hands-on management style, Steinbrenner has an estimated net worth of $1.4 billion. He began his career in the employ of his father who owned a successful shipping business in Ohio. Steinbrenner’s first attempt at owning a sports franchise occurred when he bought the Cleveland Pipers, a basketball team that was part of the old, and now-defunct, American Basketball League. Steinbrenner, along with several partners, purchased The New York Yankees from CBS Broadcasting in 1973 for only $10 million. The team is now worth in excess of $1.5 billion. The team has won 11 pennants and 7 World Championships under his ownership. Steinbrenner was the first owner to sell broadcast rights to Cable TV, creating a new income stream enjoyed by many teams today. He is also involved in the sport of thoroughbred racing. Forbes Magazine has him at Number 380 on its list of the 400 Richest Americans.