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Bob Castellini Net Worth, Biography & Wiki 2017
Robert Castellini is an American businessman, born on the 23rd of September 1941, in Cincinnati, Ohio. He is best known for being the CEO of the Cincinnati Reds baseball team.
How rich is Bob Castellini? As of early 2017, sources estimate that he has a net worth of $400 million, earned partly from his baseball connection, but initially from his fruit and vegetable wholesale business.
Bob Castellini Net Worth $400 million
Castellini attended Georgetown University, Washington DC, and graduated with a degree in economics in 1963. He then joined the army, in which he served as an officer. He would later attend Wharton School, to earn his MBA in 1967. After finishing his education, he became executive vice-president of the Castellini Group of Companies, which dealt, and continue to deal, in the processing, warehousing, and transportation of vegetables and fresh produce. In 1970, he became president of the company, a role which he would hold for the next 22 years, until 1992. He is currently chairman of the Castellini Group.
In 1989, Castellini first became financially involved in baseball when he became a partner in the Texas Rangers Major League Baseball (MLB) team. In 1993, he also became a partner in the Baltimore Orioles, and in 1995, he began to make investments in the Saint Louis Cardinals. However, all his various business involvements have contributed significantly to his large personal wealth.
It was in 2006 that Castellini became involved with the Cincinnati Reds, leading the group which purchased the team, taking over from previous controlling owner Carl Lindner. Other members of the group included brothers Thomas and Joseph Williams, Jr., of North American Properties, whose father and uncle were previous major owners of the team for almost 20 years between 1966 and 1984. Together, they purchased the team for $270 million, and Castellini became CEO.
Castellini’s first decision was to fire general manager Dan O’Brien and to replace him with Wayne Krivsky. The Red’s first season with Castellini was mediocre, following a run of five losing seasons, a record breaking low streak for the team. In 2006, the Reds finished third in the National League Central Division, then in 2007 Pete Mackanin was hired as manager, and the team began to fare better across the board, but still reached only fifth place in their division. In 2010, the Reds finally won the Central Division Championship, for the first time in 15 years. The following years’ seasons were somewhat disappointing, marred by injury and poor performance until, in 2016, they broke the 20-year record for the number of home runs within a single season.
In his personal life, Castellini is married to Susan, who works on the Cincinnati Board of Park Commissioners. Together, they have four children. He is a very private person – politically conservative, and donated money to George W. Bush’s first presidential campaign. He has become involved in his local community, and has served on the boards of several committees, including as a trustee of Xavier University. He was also the president of the Cincinnati Business Committee. He is a baseball fan of course, describing his favorite moment from the sport as “seeing Hank Aaron hit his 714th home run on April 4, 1974”.