There are 62 billionaire sports league owners worldwide, who collectively are worth $375 billion. This year, a new billionaire topped Forbes' list of The World's Richest Sports Team Owners: Mukesh Ambani, owner of the Indian Premier League cricket club Mumbai Indians.
His $47.7 billion net worth dethroned former Microsoft CEO Steve Ballmer, who has held the No. 1 spot for the past three years as the owner of the NBA's Los Angeles Clippers. Ambani's wealth comes from Reliance Industries, a conglomerate holding company based in Mumbai.
Reliance was originally founded as a small textile manufacturing company by Ambani's father. The elder Ambani started the company in a small, barely furnished office where he first exported spices to Yemen, then began importing yarn.
By the late 1960s business was booming, but Ambani's father, who didn't finish high school, was worried that his kids would grow up spoiled without any real life skills.