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Tether USDt Tether USDt (USDT) $1.00 ↓ -0.03%
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Sui Sui (SUI) $4.09 ↓ -3.70%
Stellar Stellar (XLM) $0.43 ↓ -2.68%
Chainlink Chainlink (LINK) $18.47 ↓ -1.47%
Bitcoin Cash Bitcoin Cash (BCH) $581.29 ↓ -2.52%
Hedera Hedera (HBAR) $0.27 ↓ -4.17%
Avalanche Avalanche (AVAX) $26.34 ↑ 5.49%
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Polkadot Polkadot (DOT) $4.09 ↓ -1.52%
Monero Monero (XMR) $325.68 ↑ 1.08%
Bitget Token Bitget Token (BGB) $4.63 ↑ 0.85%
Dai Dai (DAI) $1.00 ↓ -0.02%
Pepe Pepe (PEPE) $0.00 ↓ -2.05%
Cronos Cronos (CRO) $0.14 ↑ 0.26%
Aave Aave (AAVE) $291.67 ↓ -1.48%
Ethena Ethena (ENA) $0.65 ↑ 4.33%
Bittensor Bittensor (TAO) $411.39 ↓ -3.55%
NEAR Protocol NEAR Protocol (NEAR) $2.84 ↓ -2.00%
Pi Pi (PI) $0.45 ↑ 1.10%
Ethereum Classic Ethereum Classic (ETC) $22.24 ↓ -2.81%
Ondo Ondo (ONDO) $1.01 ↓ -3.38%
Internet Computer Internet Computer (ICP) $5.68 ↓ -0.29%
Aptos Aptos (APT) $4.74 ↓ -1.51%
OKB OKB (OKB) $48.73 ↑ 1.25%
Bonk Bonk (BONK) $0.00 ↑ 3.59%
Mantle Mantle (MNT) $0.80 ↓ -2.73%
Kaspa Kaspa (KAS) $0.10 ↓ -4.87%
Pudgy Penguins Pudgy Penguins (PENGU) $0.04 ↓ -3.31%
POL (prev. MATIC) POL (prev. MATIC) (POL) $0.23 ↓ -2.28%
Algorand Algorand (ALGO) $0.27 ↓ -3.06%
Arbitrum Arbitrum (ARB) $0.45 ↓ -0.59%
GateToken GateToken (GT) $17.99 ↑ 1.15%
World Liberty Financial USD World Liberty Financial USD (USD1) $1.00 ↓ -0.02%
VeChain VeChain (VET) $0.03 ↓ -1.84%
Render Render (RENDER) $4.19 ↓ -1.58%
Worldcoin Worldcoin (WLD) $1.16 ↓ -2.32%
SPX6900 SPX6900 (SPX) $2.21 ↑ 6.44%
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Sky Sky (SKY) $0.09 ↓ -3.88%
Sei Sei (SEI) $0.33 ↓ -3.16%
Cosmos Cosmos (ATOM) $4.80 ↑ 0.46%
Filecoin Filecoin (FIL) $2.68 ↓ -0.38%
Artificial Superintelligence Alliance Artificial Superintelligence Alliance (FET) $0.73 ↓ -0.55%
Jupiter Jupiter (JUP) $0.58 ↑ 1.00%
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XDC Network XDC Network (XDC) $0.09 ↑ 2.86%
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Immutable Immutable (IMX) $0.58 ↓ -1.70%
dogwifhat dogwifhat (WIF) $1.09 ↑ 0.68%
Ethereum Name Service Ethereum Name Service (ENS) $29.10 ↓ -6.05%
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PancakeSwap PancakeSwap (CAKE) $2.99 ↑ 6.26%
Kaia Kaia (KAIA) $0.16 ↓ -1.50%
Virtuals Protocol Virtuals Protocol (VIRTUAL) $1.50 ↓ -5.01%
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Home Business

Robert Sarver Net Worth: From Business Success to Controversial Sale

Gezim Osmani by Gezim Osmani
9 July 2023
in Business
Reading Time: 3 mins read
0
Robert-Sarver-Net-Worth-From-Business-Success-to-Controversial-Sale

Robert Sarver is an American businessman, majority owner of the Phoenix Suns and co-founder of Southwest Value Partners who has made a name for himself in the world of sports and real estate . Robert Sarver net worth is thought to be around $ 800 million and his career has been marked by both success and controversy . Let’s dive into it . 

 

Table of Contents

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  • YOU MAY BE INTERESTED
  • Is Dogecoin Price Ready for a Major Move? Double Bottom Pattern Points to $0.42
  • Near Protocol Price Prediction 2025 and 2026: Can NEAR Deliver Strong Returns?
  • A Career in Banking and Real Estate
  • From Real Estate to Sports Ownership
  • Controversy and the Decision to Sell
  • A Legacy of Wealth and Controversy

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A Career in Banking and Real Estate

Sarver’s journey began in Tucson Arizona where he was born in October . His father was a prominent Tucson banker and hotel developer who played a significant role in shaping Sarver’s entrepreneurial spirit . After his father’s passed away Sarver took over the family business American Savings and Loan .

 

Educated at Sabino High School and the University of Arizona Sarver earned a degree in Business Administration and became a certified public accountant . In 1984 he established the National Bank of Tucson which eventually grew into the National Bank of Arizona . After selling the bank to Zions Bancorporation in 1994 Sarver continued to make strategic moves in the banking industry like the acquisition and sale of Grossmont Bank .

 

Parallel to his success in banking Sarver undertook into the real estate sector . In 1990 he cofounded Southwest Value Partners which is a prominent real estate development company . The company’s notable acquisition of Emerald Pizza which was later sold for a substantial sum showed Sarver’s astute business insight .

Robert-Sarver-Net-Worth-From-Business-Success-to-Controversial-Sale2

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From Real Estate to Sports Ownership

Sarver’s passion for sports led him to pursue the ownership of an NBA team . After a conversation with University of Arizona’s basketball coach Lute Olson Sarver connected with Steve Kerr who assisted him in purchasing the Phoenix Suns in 2004 for $ 401 million . Under Sarver’s ownership the Suns have undergone significant organizational developments including the expansion and renovation of the Footprint Center with an investment of $ 230 million .

 

In addition to the Phoenix Suns Sarver also owns the Phoenix Mercury which is a WNBA team and the football team RCD Mallorca which he acquired in 2016 for € 20 million . These ventures set Sarver’s involvement in the sports industry and his commitment to supporting various teams .

 

Controversy and the Decision to Sell

In November 2021 Sarver faced serious allegations of racism, misogyny and sexual harassment which were brought to light in a report by ESPN’s Baxter Holmes . Over 70 current and former employees of the Suns collaborated on the report which resulted in an investigation and subsequent actions from the NBA . Sarver and his legal team strongly denied most of the accusations and cited a lack of evidence and disputing the negative portrayal of the organization by all 70 employees involved .

 

On September 13 2022 Sarver was fined the maximum penalty of $ 10 million and suspended for a year in both the NBA and WNBA . In response Sarver made the decision on September 21 to start the process of selling both the Phoenix Suns and the Phoenix Mercury . 

 

A Legacy of Wealth and Controversy

As of 2023 Robert Sarvers personal wealth is estimated to be around $ 800 million . His success in the banking industry real estate investments and ownership of sports teams have contributed to his substantial fortune . However Sarver’s career has been marked by controversy and the recent decision to sell his NBA teams due to the allegations against him .

 

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Gezim Osmani

Gezim Osmani

Senior Journalist, Content editor Hi there! My name is Gezim, and I'm a Senior Journalist covering crypto and fintech. I have a passion for technology and finance, and I've spent years following the latest trends in the industry. My goal is to make complex financial concepts accessible to my readers. I strive to provide insightful analysis and explain the latest developments in the world of crypto and fintech in a way that is easy to understand. I believe that knowledge is power, and I want to empower my readers to make informed decisions about their finances. In addition to my professional pursuits, I also love to take photos. I find that photography allows me to capture moments and emotions in a way that words cannot. Whether I'm traveling to a new city or exploring the great outdoors, I always have my camera with me. Photography is a way for me to express my creativity and connect with the world around me. When I'm not working or taking photos, I also enjoy hiking and spending time in nature. There's something about being outside and surrounded by natural beauty that brings me peace and clarity. I also love to read, and I'm always seeking out new books and articles to expand my knowledge. Overall, I'm driven by a desire to help people understand the complex world of finance and technology. Through my writing, photography, and other pursuits, I'm committed to creating content that inspires and informs my readers. I believe that everyone has the potential to achieve financial success, and I'm here to help them along the way. I would love to connect and see how we can work together to shape the future of crypto anf fintech. Let's connect and see where our shared interests and expertise can take us!

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