It is estimated that Robert Sarver is worth $850 million. Robert is a successful American entrepreneur who owns the Phoenix Mercury, RCD Mallorca, and an American sports team. He became well-known for being a successful businessman and owner of a real estate development firm.
His annual income is $25 million, according to a number of sources, as of 2022. His commercial endeavors, investments, and partnerships serve as his main revenue sources.
Early Life
Irene and Jack Sarver welcomed Robert into the world in Tucson, Arizona, on October 31, 1961. A well-known businessman in Tucson, his father was Jewish. His father constructed the Aztec Inn Tucson and Plaza International Hotel near Speedway and Campbell in the early 1970s. As a banker and hotel entrepreneur, his father was well-known.
His father’s whole estate was given to his alma meter, the University of Arizona’s heart research center, after he passed away in 1979 after suffering a heart attack. Later in 1998, the heart center in Arizona was given the new name Sarver Heart Center in honor of Robert Sarver’s father.
Robert Sarver started working for his father’s companies at the age of 16. In 1982, Robert Sarver received his bachelor’s degree in business administration from the University of Arizona. In 1983, Robert Sarver attained the CPA designation.
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Net Worth of Robert Sarver
Robert Sarver has an $800 million fortune. Robert Sarver became well-known across the country for owning the NBA’s Phoenix Suns after making a fortune by founding many banks. He serves on the Board of Trustees of the Sarver Heart Center in Tucson in addition to leading his teams.
At the age of 23, he established the National Bank of Arizona, originally the National Bank of Tucson. After it had expanded to become Arizona’s largest independent bank 12 years later, he sold it. The biggest bank in the San Diego, California region, Grossmont Bank, was purchased by him a year later.
Career
Robert Sarver experienced success throughout his life in a number of different areas. The following are some of his top carriers.
Banking
In 1984, Robert Sarver established the National Bank of Tucson. Later, he expanded it to the entire state under the name National Bank of Arizona.
Later, in 1994, Zions Bancorporation, the largest independent bank, purchased this bank. Robert Sarver bought out Grossmont Bank in 1995. This bank, which was the biggest neighborhood bank in San Diego, was sold to Zions Bank in 1977.
In 1998, Sarver oversaw Sumitomo Bank of California’s acquisition by Bancorporation. In 2003, he served as chairman of the board for Western Alliance Bancorp.
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Construction of The Real Estate
In San Diego, Sarver and Millard Seldin founded the real estate company Southwest Value together. The Emerald Plaza was bought in 1995 by both partners.
The two San Diego office towers and Emerald Plaza are purchased by Santa Ana, a real estate company, for $274.5 million.
Sports were a huge passion for Robert Sarver. He wanted to buy an NBA club because of this. That’s why he talked about it with University of Arizona basketball coach Lute Olson. He introduced him to Steve Kerr, a former player and 15-year NBA veteran, who assisted him in making the $401 million record purchase of the Suns.
Suns, Phoenix
After buying the team, he set it up and made numerous changes to it. With the assistance of Verizon, he built the 53,000-square-foot practice facility known as the Verizon 5G Performance Center in 2020 for a cost of $45 million.
It makes use of 5G technology, which works with a computer to track the ball and analyze motion. Players and coaches can access reliable information through it. This sports science technology is being used by the Phoenix Mercury and Suns of the WNBA.
Both Sarver and the Suns will spend $230 million on the Footprint Center’s expansion and decoration in 2021. Modern seating options, new suites, social areas, and ultra-modern amenities are added to it.
In order to increase game interest, it also contains video and sound lighting improvements. One of the nicest and greenest stadiums has undergone the best changes to its infrastructure. The Suns’ NBA Finals victory in 2021, their first since 1993, has made them famous in modern times.
Sarver-Related Controversies
His career is marked by numerous scandals. Because he gave numerous players to add in-game to avoid taxes, he has frequently been accused of being the Suns’ owner. Rajon Rondo, Luol Deng, and Joe Johnson are a few of these athletes.
On November 4, 2021, Baxter Holmes published a piece on ESPN about Sarver and the Phoenix Suns. The information dealt with issues of misogyny, racism, and sexual harassment. Sarver and his legal team rejected all of these claims, and he also asked to have the coach fired.
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Mercury Phoenix
In 1997, Jerry Colangelo owned Phoenix, but in 2004, Sarver took control of the WNBA club and Phoenix Suns. In 2007, 2009, and 2014, Mercury won three WNBA championships while Sarver was their owner. The 2020–2021 season also saw it win conference championships.
Personal Life
They reside in Paradise Valley, Arizona, and have three sons: Max (born in 1997), Jake (born in 1999), and Zach (born in 1999). In 1996, Sarver married Kansas City, Missouri native Penny Sanders (b. 2001).
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