Forbes: 76ers owner Joshua Harris twice as rich as Eagles chairman Jeffrey Lurie

Posted: March 06, 2013

The annual Forbes billionaire list is out, and this year Philadelphia can boast just one billionaire owner - the Sixers' Joshua Harris.

Harris, who lives in New York but graduated from Penn's Wharton School, saw his estimated wealth rise to $2.1 billion, ranking his fortune at No. 243 in the United States, 704 in the world.

Harris, cofounder and managing director of investment firm Apollo Global Management, "saw his fortune increase $600 million in the past year as shares of Apollo, which went public in 2011, rose to new highs," according to Forbes.

Eagles owner Jeffrey Lurie fell off the list this year, with last summer's divorce the obvious explanation. The value of the Eagles franchise went up to 1.26 billion last year, Forbes calculated in August.

Harris is the main face of Sixers ownership, but a dozen others also have a stake, including West Philly rapper-turned-film-star Will Smith, and his wife, Jada. The group bought the team from Comcast in July 2011 for a reported $280 million.

Lurie bought the Eagles franchise in 1994 for $185 million from Norman Braman, who has become a lot richer since.

West Chester-born Braman, a Temple University grad, built his wealth with car dealerships in Florida and Colorado and a world-class art collection that includes Picassos. He joined the Forbes billionaires list in 2009, and his fortune is estimated at $1.6 billion.

Braman is still involved in sports, but as a civic activist. He sued to stop public funding for a new Florida Marlins baseball stadium.

Wharton grad Steve Cohen, worth an estimated $9.2 billion, is a minority owner of the New York Mets. Forbes has called the founder of Connecticut-based SAC Capital "a hedge fund titan and one of the most powerful forces in equity trading."

Lehigh University grad Roger Penske, who turned an auto racing career into a fortune beginning with a Philly Chevy dealership, owns Penske Racing, which competes at NASCAR and IndyCar events. His wealth rose to an estimated $1.2 billion, according to Forbes.

Also, Wharton grad Donald Trump owned the New Jersey Generals franchise in the United States Football League in the 1980s. The developer/host of NBC's Celebrity Apprentice is worth $3.2 billion, says Forbes.


Contact staff writer Peter Mucha at 215-854-4342 or pmucha@phillynews.com.

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