From $150M to $13B: The Remarkable Rise of Jerry Jones' Dallas Cowboys Empire
In the high-stakes world of professional sports ownership, few stories are as compelling as that of Jerry Jones and the Dallas Cowboys. According to Forbes, Jones purchased America's Team in 1989 for $150 million, a figure that seems almost quaint compared to the franchise's current valuation. As of September 2025, the Cowboys are reportedly worth a staggering $13 billion, representing one of the most spectacular appreciation stories in sports history.
The Jones Family Dynasty and Financial Structure
What makes Jones' ownership particularly noteworthy is its clean financial structure. The 83-year-old owner holds the entire team without any debt, a rarity in the leveraged world of professional sports. The ownership is carefully divided within the Jones family, with Jerry and his wife Eugenia "Gene" Jones controlling 51% of the franchise. Their three children—Stephen Jones, Charlotte Jones, and Jerry Jones Jr.—share the remaining 49% equally, ensuring the team remains a family legacy for generations to come.
Beyond the Gridiron: Jones' Diversified Business Portfolio
While the Cowboys form the crown jewel of his empire, Jones has built a remarkably diversified portfolio that extends far beyond football:
- Real Estate Ventures: In 2015, Jones began developing Gates of Prosper, a 1,500-home community, adding to his substantial commercial real estate holdings
- Energy Investments: His natural gas holdings include a stake in Comstock Resources and a private gas entity called Arkoma, valued at approximately $4.3 billion
- International Business: Jones maintains car dealership operations in Brazil, demonstrating his global business acumen
- Food Franchising: In 2004, he entered a joint venture with Papa John's to develop Texas pizza franchises
Personal Assets and Net Worth Assessment
Jones' personal lifestyle reflects his billionaire status. He owns a $20 million residence in Dallas's prestigious Highland Park area and a magnificent 375-foot superyacht named "Bravo Eugenia" after his wife, valued at approximately $250 million. According to TheStreet, his net worth reached $20.7 billion in early 2026, placing him at #10 among Richest U.S. Sports Team Owners and #50 on the Forbes 400 list in 2025.
Stan Kroenke: The Real Estate Mogul Turned Sports Empire Builder
While Jerry Jones built his fortune around a single iconic franchise, Stan Kroenke has taken a different approach, creating a diversified sports empire that spans continents and leagues. With a net worth of $26.8 billion according to Bloomberg, Kroenke has assembled one of the most impressive portfolios in sports history.
The Kroenke Sports Empire: A Multi-League Powerhouse
Kroenke's sports holdings represent a true cross-league dominance:
- NFL's Los Angeles Rams: Purchased in 2010 and moved from St. Louis to California in 2016
- NBA's Denver Nuggets: Acquired in 2000 along with the Pepsi Center stadium
- NHL's Colorado Avalanche: Part of his Colorado sports holdings
- MLS's Colorado Rapids: Adding soccer to his American sports portfolio
- English Premier League's Arsenal FC: Became majority shareholder in 2011, giving him international soccer presence
The Real Estate Foundation of Kroenke's Wealth
What truly distinguishes Kroenke's wealth is its foundation in real estate. He owns approximately 60 million square feet of commercial property, primarily shopping plazas strategically located near Walmart stores. This connection is personal—Kroenke married Walmart heiress Ann Walton in 1974, and in 1995, he joined Walmart and became executor of Bud Walton's estate.
Land Baron: Kroenke's Massive Ranch Holdings
Perhaps most astonishing are Kroenke's land acquisitions. According to Bloomberg, he owns about 2.5 million acres of ranches across the United States and Canada. This portfolio expanded significantly in early 2026 when, as reported by Emily Davis of the New York Post on January 14, 2026, Kroenke acquired more than 937,000 acres of noncontiguous New Mexico ranchland. This brought his total land holdings to over 2.7 million acres across the American West and Canada, making him one of the largest private landowners in North America.
Educational Backgrounds and Career Paths
Both billionaires followed distinct educational paths that shaped their business approaches:
Jerry Jones earned a Bachelor of Arts/Science and a Master of Arts from the University of Arkansas, where he was co-captain of the 1964 National Championship team—notably playing alongside future Cowboys legendary head coach Jimmy Johnson.
Stan Kroenke obtained both a Bachelor of Arts/Science and a Master of Business Administration from the University of Missouri, providing him with the formal business education that would underpin his real estate and sports empire building.
Legacy Stadiums and Infrastructure Investments
Both owners have made significant infrastructure investments that enhance their teams' value:
Jones opened AT&T Stadium in Arlington, Texas in 2009, featuring a revolutionary retractable roof that allows natural light and sky visibility—a marvel of modern stadium design.
Kroenke unveiled plans in 2015 for an NFL stadium in Los Angeles, which eventually materialized as SoFi Stadium, though the article focuses on his broader infrastructure investments through Kroenke Sports & Entertainment.
The Bottom Line: Two Models of Sports Billionaire Success
Jerry Jones and Stan Kroenke represent two distinct approaches to building sports-related fortunes. Jones demonstrates how deep focus on a single iconic franchise, combined with strategic diversification into complementary businesses, can create extraordinary wealth. His story is one of transformational leadership, turning the Cowboys into not just a football team but a global brand.
Kroenke shows how leveraging real estate expertise and strategic marriages (both business and personal) can create a diversified empire spanning multiple sports leagues and continents. His approach is more portfolio-based, spreading risk and opportunity across different sports and markets.
Both men, now in their late 70s and early 80s respectively, continue to expand their empires, proving that in the world of sports ownership, the game of wealth-building never really ends. Their rankings on the Forbes lists—Jones at #10 among Richest U.S. Sports Team Owners and #50 on the Forbes 400, Kroenke at #9 and #47 respectively—demonstrate their standing among America's wealthiest individuals, with sports serving as the visible tip of much larger business icebergs.
