Jeffrey Loria Net Worth

What is Jeffrey Loria's Net Worth?

Jeffrey Loria is an American entrepreneur, businessman, and author who has a net worth of $500 million. Jeffrey Loria is best known for his tenures as owner of the MLB teams the Montreal Expos and the Miami Marlins, during which he became notorious for his poor handling of various deals. Widely detested in South Florida, he has been called one of the worst owners in sports history. As an author, Loria wrote the book "Collecting Original Art" and co-wrote "What's it All About Charlie Brown?"

Early Life and Education

Jeffrey Loria was born on November 20, 1940 in the Manhattan borough of New York City to Jewish parents Ruth and Walter. As an adolescent, he went to Stuyvesant High School. Loria subsequently attended Yale University, where he studied pre-med before switching to art history. After many years working in business following his graduation from Yale, he returned to school to work toward a graduate degree at Columbia Business School. Loria graduated in 1968.

Career Beginnings

After graduating from Yale, Loria worked for the department store chain Sears in its newly created art-buying program. In 1965, he launched his own business, Jeffrey H. Loria & Co., on the Upper East Side of Manhattan. An art collector specializing in 20th-century masters, he also penned the book "Collecting Original Art." A few years later, Loria co-wrote his second book, "What's it All About Charlie Brown?," with Pat K. Lynch.

Sports Team Ownership

In 1989, Loria bought the Minor League Baseball team, the Oklahoma City 89ers, at the time a Triple-A affiliate of the Texas Rangers. After the 89ers won the American Association championship in 1992, Loria sold the team in 1993 and started looking to purchase an MLB team. He put in a bid for the Baltimore Orioles in 1994, but lost it to Peter Angelos. At the end of the decade, Loria purchased a 24% stake in the Montreal Expos for $18 million CAD and became the team's managing general partner. He made the acquisition as the head of an ownership group that included the city of Montreal, a number of Montreal businesses, and the son of the Expos' founding owner, Charles Bronfman. After a couple of years, during which several cash calls went unanswered, Loria ended up owning a 93% stake in the team. Under his ownership, he unsuccessfully called for a new ballpark for the Expos to replace the old Olympic Stadium. Loria was generally unpopular with Expos fans, especially after he failed to negotiate a deal to secure television and English-speaking radio coverage for the team during the 2000 season. In 2002, he sold the Expos for $120 million to a coalition of the other MLB clubs, effectively turning over ownership to the commissioner's office.

After selling the Expos, Loria bought 100% of the Florida Marlins from owner John W. Henry for around $158 million. In his second full season owning the team, the Marlins won the 2003 World Series against the New York Yankees. However, the team performed only averagely over the remainder of the decade, and by the spring of 2009 had a record of 569-564 under Loria.

In late 2011, the team was rebranded as the Miami Marlins with an all-new color scheme, logo, and uniform. The next year, the team got a new, 37,000-seat ballpark with a retractable roof. However, the 2012 season ended up being a terrible one for the Marlins, with the team finishing last in the NL East. This resulted in a 12-player trade with the Toronto Blue Jays, which in turn caused a backlash against Loria and his stated intentions of making the Marlins into a competitive team.

He caused more controversy in 2013 when he violated clubhouse protocol by having José Fernández and Ricky Nolasco switch the games of a doubleheader. Moreover, Loria allegedly abused players verbally and physically, prompting hitting coach Tino Martinez to resign. Still, Loria remained owner of the Marlins until 2017, when he sold the team to a group led by Bruce S. Sherman for $1.2 billion. Today, Bruce owns 46% of the team. Derek Jeter owns 4%.

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Other Endeavors

In 2007, Loria funded a restoration of the art and architecture building at his alma mater Yale University. He also donated toward the construction of a new art building, called the Jeffrey Loria Center for the History of Art. Loria continues to run his art dealership business.

Personal Life

Loria married his first wife, divorcée Sivia Samson, in 1980. Through the marriage, his stepson was David Samson, who was the team president of the Miami Marlins through 2017. Loria has been wed to his second wife, Julia Lavin, since 2007.

Jeffrey Loria Net Worth and salary: Jeffrey Loria is an American art dealer and the owner of the Miami Marlins Major League Baseball team. Jeffrey Loria has a net worth of $500 million dollars. Jeffrey Loria was born November 20, 1940 in New York City and raised in Manhattan where he took an early interest in baseball, attending his first New York Yankees game in the late 1940s. Loria attended Stuyvesant High School and Yale University, where he initially took pre-med courses. With a requirement to take a history class, Loria chose art history. After college, he worked in a newly established art-buying program for Sears. In 1965, at the age of 24, he opened his private art dealing business, Jeffrey H. Loria & Co., on Manhattan's Upper East Side and wrote a book, "Collecting Original Art". He specializes in 20th century masters. His collection includes works by Pablo Picasso and Henry Moore. Loria graduated from Columbia Business School in 1968. In 1999, Loria bought a 24% stake in the Montreal Expos for $12 million and became the managing general partner. Soon after, Loria ended up with 94%of the team at a valuation of $50 million. He sold the Expos in 2002 for $120 million and bought the Florida Marlins for $158.5 million.

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