Robert Kraft Net Worth: How He Became Billionaire?

American businessman and billionaire Robert Kenneth Kraft. The Kraft Group, a diversified holding firm with interests in paper and packaging, sports and entertainment, real estate development, and a private equity portfolio, is led by him as chairman and CEO.

He has owned the National Football League‘s New England Patriots since 1994. (NFL). Additionally, Kraft launched the esports-based Boston Uprising in 2017 and the Major League Soccer (MLS) New England Revolution in 1996.

As of October 2022, Robert Kraft has an estimated net worth of $10.6 Billion.

Quick Facts About Robert Kraft

Name Robert Kraft
D.O.BJune 5, 1941
GenderMale
Height5′ 6″
ProfessionBusinessperson, Entrepreneur
Net Worth$10.6 Billion

Robert Kraft's Early Years

Harry and Sarah Kraft welcomed Robert K. Kraft into the world on June 5, 1941 in Brookline, Massachusetts. He was raised in a working-class Modern Orthodox Jewish home. He attended Brookline High School, where he served as senior class president, and graduated in 1959.

Kraft went to Columbia University, where he served as class president once more. On addition, he participated in the school's freshmen and lightweight football teams and was a member of the fraternity Zeta Beta Tau. Kraft earned his MBA from Harvard in 1965 after enrolling there in 1963 after graduating from Columbia.

Let's Talk About Robert Kraft's Career

Paper Wealth

His father-in-law Jacob Hiatt‘s packaging company, the Rand-Whitney Group, was where Kraft gained his first professional experience. Kraft led a leveraged buyout to take over the business in 1968. He still serves as the Rand-Whitney Group's chairman today.

In 1972, Kraft established International Forest Products, a trader in physical paper goods. The two paper and packaging businesses are among the biggest privately held businesses in their sector in the United States.

Robert Kraft Net Worth

WNAC-TV was taken over by New England Television Corp. in 1982, and Kraft was a shareholder in that company. He was admitted to the board of directors in 1983. He was appointed president of the corporation in 1986, and the station changed its name to WNEV-TV.

He made use of his option to sell his shares for $25 million in 1991. Additionally, Kraft bought a number of Boston radio stations. Eventually, in 1998, he established his Kraft Group paper company, which today operates in 90 countries and has annual sales of over $2 billion.

New England Patriots

Robert Kraft has been a Patriots season-ticket holder since 1971. He bought land close to Patriots Stadium in 1985. This was the first stage in Kraft's effort to buy the Patriots. In 1988, Kraft outbid competitors to buy the bankrupt stadium for $25 million.

Kraft's purchase included the Patriots' stadium lease. This is crucial to Kraft's ambition to buy the team. The Patriots were rumored to be going to St. Louis because then-owner James Orthwein wanted the NFL to return to his hometown.

The Cardinals left St. Louis in 1988 and went to Arizona. He named the squad the St. Louis Stallions. Robert Kraft needed to agree to buy out the remaining years on the Patriots' stadium lease before they could depart Massachusetts.

James Orthwein offered Kraft $75 million to buy out the team's Foxboro Stadium lease in 1994. If Kraft had agreed, the Patriots would have moved.

Robert Kraft Net Worth

Robert Kraft took a chance. He made a record-breaking bid of $175 million (equivalent to $300 million now) to buy the Patriots. This was a stunning price to spend for one of the league's least valuable teams. Orthwein accepted the offer because he couldn't break the lease.

The Patriots are worth $4.1 billion after 16 years and six Super Bowl championships (in 10 appearances). Kraft established New England Revolution in 1996.

What is the Net Worth of Robert Kraft?

Robert Kraft, according to online sources, is worth $10.6 billion. As chairman and CEO of The Kraft Group, which has holdings in everything from paper to real estate, Robert Kraft amassed his wealth. He is best known for being the major owner of Gillette Stadium, the New England Patriots, and the New England Revolution.

Real Estate

The 7,500 square foot Cape Cod mansion that Kraft and his wife, Myra, sold to their son Jonathan for $3.8 million was sold in 2010. The house has seven bedrooms and six bathrooms, and it was built in 2006.

Controversies

The Jupiter, Florida, police chief charged Kraft on February 22, 2019, with a misdemeanor charge of “soliciting another to perform prostitution.” A human trafficking investigation at the Orchids of Asia Day Spa led to the allegations. Investigators believed the spa's management were forcing the ladies to perform sex acts on clients under the influence of sex trafficking.

At the Orchids of Asia Day Spa, Kraft allegedly participated in sexual conduct that was caught on camera. Kraft turned down a plea deal that was presented to him on March 19 because it would have required him to confess guilt. Kraft entered a not guilty plea to all counts and asked for a jury trial in legal filings that were submitted by his counsel on March 26.

A Florida court found in August 2020 that the police confiscation of the suspected video records of Kraft performing sex acts at the spa violated his fundamental rights. The prosecution was forbidden by the court from utilizing the supposed videos as evidence. Due to a lack of evidence, the charges against Kraft were dismissed on September 24, 2020.

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Final Words

As chairman and CEO of the Kraft Group, a holding company with interests in paper and packaging, sports and entertainment, real estate development, and private equity, he leads the corporation.

Frequently Asked Questions

Who is Robert Kraft's Wife?

He met Myra Hiatt in Boston in February 1962. In 1963, they married. Jonathan, Daniel, Joshua, and David were their children.

The Krafts attended Newton's Temple Emanual. 2011-07-20: Myra Kraft died of ovarian cancer. 68-year-old. Kraft began dating 39-year-old actress Ricki Noel Lander. Fall 2017 was Lander's first pregnancy.

What is Robert Kraft's Height?

Robert Kraft stands 5′ 6″ tall.

What is Robert Kraft's Age?

Robert Kraft is 81 years old.

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