Jeffrey Harold Loria was born on 20 November 1940, in Manhattan, New York City, USA, of Jewish descent. Jeffrey is an art dealer, but perhaps better known for being the owner of the Major League Baseball (MLB) team, the Miami Marlins; he is also a previous owner of the Montreal Expos. All of his endeavors have helped put his net worth to where it is today.
How rich is Jeffrey Loria? As of late-2016, sources inform us of a net worth that is at $500 million, mostly earned through a successful career in business. His wealth has also increased thanks to the success of his sports teams. He also serves on the board of several organizations, and all of these achievements have ensured the position of his wealth.
Jeffrey Loria Net Worth $500 million
Loria was interested in baseball at a young age. He attended Stuyvesant High School, and after matriculating went to Yale University. He initially intended to take pre-med courses but later switched to art and art history. After graduating, he started working for Sears under their newly established art-buying program. In 1965, he started his own private art dealing business called Jeffrey H. Loria & Co, and subsequently wrote a book entitled “Collecting Original Art”. Jeffrey specializes in 20th century masters and his collection includes works of Henry Moore and Pablo Picasso. His net worth would slowly start to build up. He attended Columbia Business School, and after graduating in 1968, published his second book entitled “What’s It All About Charlie Brown?”
Loria continues with his art business to this day, but his real love is baseball. In 1989, Jeffrey bought the baseball team AAA affiliate of the Texas Rangers, the Oklahoma City 89ers. In 1992, the team would win the American Association Championship and the following year, he would sell the team with the intent of buying a Major League team. He lost in a bid to buy the Baltimore Orioles in 1994, but eventually in 1999, he bought a 24 percent stake in the Montreal Expos valued at $12 million. He became the managing general partner, and the team was placed under a group which handled several Montreal businesses. Eventually, Jeffrey would become the 94 percent stake holder of the team when cash calls were unanswered. He wanted to move the team to a new park, hoping to replace Olympic Stadium, however, he lost a lot of fan support when he failed to gain television and radio coverage to the team in 2000. His efforts to fund a new ballpark also failed.
In 2002, Loria sold the Expos for $120 million, in effect sold to the commissioner’s office. The Florida Marlins were then sold to him valued at $158.5 million. Jeffrey then moved his entire staff and equipment to Florida, and the Expos would eventually end in Washington DC as the Nationals. In 2003, the Marlins won their second World Series, and over the next 10 years the team would grow to a value of $520 million, increasing Loria’s net worth significantly. The team would also re-brand as the Miami Marlins in 2011. Eventually, the franchise was able to get a new baseball stadium in Marlins Park. In 2012, Jeffrey received criticisms again when the Marlins completed a 12 player trade with the Toronto Blue Jays. He’s been called one of the most dishonest and worst owners in sports history by numerous publications, but his net worth continued to rise.
For his personal life, Jeffrey is married to Julie Lavin, and they spend their time either in South Florida or New York, having homes at both locations. Jeffrey serves on the board of directors of the Benjamin N. Cardozo School of Law at Yeshiva University. He was also a former board member of the Art Dealers Association of America.
