Jeffrey Loria Net Worth
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- What Is Jeffrey Loria’s Net Worth?
- Early Life And Education
- Career Beginnings
- Sports Team Ownership
- Other Endeavors
- Personal Life
What is Jeffrey Loria’s Net Worth?
Jeffrey Loria is an American entrepreneur, businessman, and author who has a net worth of $500 million. Jeffrey Loria is best known for his tenures as owner of the MLB teams the Montreal Expos and the Miami Marlins, during which he became notorious for his poor handling of various deals. Widely detested in South Florida, he has been called one of the worst owners in sports history. As an author, Loria wrote the book “Collecting Original Art” and co-wrote “What’s it All About Charlie Brown?”
Early Life and Education
Jeffrey Loria was born on November 20, 1940, in the Manhattan borough of New York City to Jewish parents Ruth and Walter. As an adolescent, he went to Stuyvesant High School. Loria subsequently attended Yale University, where he studied pre-med before switching to art history. After many years working in business following his graduation from Yale, he returned to school to work toward a graduate degree at Columbia Business School. Loria graduated in 1968.
Career Beginnings
After graduating from Yale, Loria worked for the department store chain Sears in its newly created art-buying program. In 1965, he launched his own business, Jeffrey H. Loria & Co., on the Upper East Side of Manhattan. An art collector specializing in 20th-century masters, he also penned the book “Collecting Original Art.” A few years later, Loria co-wrote his second book, “What’s it All About Charlie Brown?,” with Pat K. Lynch.
Sports Team Ownership
After selling the Expos, Loria bought 100% of the Florida Marlins from owner John W. Henry for around $158 million. In his second full season owning the team, the Marlins won the 2003 World Series against the New York Yankees. However, the team performed only averagely over the remainder of the decade, and by the spring of 2009 had a record of 569-564 under Loria.
In late 2011, the team was rebranded as the Miami Marlins with an all-new color scheme, logo, and uniform. The next year, the team got a new, 37,000-seat ballpark with a retractable roof. However, the 2012 season ended up being a terrible one for the Marlins, with the team finishing last in the NL East. This resulted in a 12-player trade with the Toronto Blue Jays, which in turn caused a backlash against Loria and his stated intentions of making the Marlins into a competitive team.
He caused more controversy in 2013 when he violated clubhouse protocol by having José Fernández and Ricky Nolasco switch the games of a doubleheader. Moreover, Loria allegedly abused players verbally and physically, prompting hitting coach Tino Martinez to resign. Still, Loria remained owner of the Marlins until 2017 , when he sold the team to a group led by Bruce S. Sherman for $1.2 billion. Today, Bruce owns 46% of the team. Derek Jeter owns 4%.
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Other Endeavors
In 2007, Loria funded a restoration of the art and architecture building at his alma mater Yale University. He also donated toward the construction of a new art building, called the Jeffrey Loria Center for the History of Art. Loria continues to run his art dealership business.
Personal Life
Loria married his first wife, divorcée Sivia Samson, in 1980. Through the marriage, his stepson was David Samson , who was the team president of the Miami Marlins through 2017. Loria has been married to his second wife, Julia Lavin, since 2007.
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