Skinsinparadise Posted March 9, 2023 Share Posted March 9, 2023 Did you know that of the 2,755 billionaires in the world, only two live in Potomac? Forbes published a list of billionaires, and despite there being 493 new additions to the list, none were added to the two Potomac billionaires that made the 2020 list. Let's look at the two people in Potomac on the list and five others who live in Maryland. The wealthiest person in Potomac Mitchell RalesImage from WikiCommons images With a net worth of $6.2 billion (up from $3.7 billion in 2020), the title of the richest person in Potomac goes to Mitchell Rales. He is also ranked number 432 in the world. Rales cofounded Danaher Corporation in 1983 with his brother Steven. The company manufactures and markets professional, industrial, medical, and commercial products and services and had revenues in excess of $22 billion in 2020. In 2016 part of the business was spun off into Fortive Corporation. Rales retired from his position at Fortive Corp recently but is still chairman of Danaher. Rales is a passionate collector of modern and contemporary art and has donated more than $1 billion in the art to his Glenstone Museum in Potomac. His brother Steven has a net worth of $8.9 billion, but as he lives in Santa Barbara. California doesn't appear on the Potomac or Maryland billionaires list. The NFL Owner The other Potomac billionaire with a fortune of $2.6 billion is the owner of the NFL franchise, the Washington Football Team, Dan Snyder. Dropping out of college, Snyder started a marketing business- Snyder Communications. He sold it to a Frech company for $2.1 billion in shares in 2000. Snyder is best known, however, for his purchase of the team that was then known as Washington Redskins, along with Jack Kent Cooke Stadium in 1999. This has been a wise investment for Snyder. He purchased the team for $750 million, and it's now worth $3.4 billion. After many years of public debate, Snyder dropped the Redskins from the team name last year and renamed them the Washington Football Team. https://original.newsbreak.com/@ash-jurberg-560946/2203919019554-the-2-billionaires-who-live-in-potomac-maryland 3 2 Link to comment Share on other sites More sharing options...
Andre The Giant Posted March 9, 2023 Share Posted March 9, 2023 5 minutes ago, Conn said: Harris is my #1 bc he’s done it before, will spend the money on the best, not interfere, and I won’t have to hear about it (in a sports sense) every time someone gets maimed in some certain company’s warehouse. I understand that Bezos probably brings the best chance at a stadium in DC, but selfishly—I’m not even remotely a local fan. I just want to be good, professional, relevant, and non-controversial. I don’t want another two decades of reasons to be self-conscious about my fandom, I just wanna enjoy sports like a normal ****ing fan. Don’t want to talk or think about the owner AT ALL besides the necessary stuff. That’s impossible with Bezos, he is himself a national story every day. Give me Harris as the majority owner in an ownership group and I’ll be thrilled. With Schefter reporting this, I’m starting to feel good about it I think this is the first reporting Schefter has had on the sale since the exploring transactions press release. Interesting... 3 Link to comment Share on other sites More sharing options...
Skinsinparadise Posted March 9, 2023 Share Posted March 9, 2023 4 2 Link to comment Share on other sites More sharing options...
NoVaSkins21 Posted March 9, 2023 Share Posted March 9, 2023 (edited) 19 minutes ago, Conn said: national guy who infamously gets curated leaks…bet this is going down soon At this point, please let this happen. I'm tired of the Bezos/Snyder(both of them) drama. This is probably the best thing for this franchise. A guy with sports experience who can hopefully get them a new stadium Edited March 9, 2023 by NoVaSkins21 3 Link to comment Share on other sites More sharing options...
Conn Posted March 9, 2023 Share Posted March 9, 2023 8 minutes ago, Andre The Giant said: I think this is the first reporting Schefter has had on the sale since the exploring transactions press release. Interesting... yep, I think it’s significant that he’s got a scoop now Link to comment Share on other sites More sharing options...
PigskinRedskin Posted March 9, 2023 Share Posted March 9, 2023 5 2 Link to comment Share on other sites More sharing options...
Skinsinparadise Posted March 9, 2023 Share Posted March 9, 2023 9 minutes ago, Conn said: Harris is my #1 bc he’s done it before, will spend the money on the best, not interfere, and I won’t have to hear about it (in a sports sense) every time someone gets maimed in some certain company’s warehouse. I understand that Bezos probably brings the best chance at a stadium in DC, but selfishly—I’m not even remotely a local fan. I just want to be good, professional, relevant, and non-controversial. I don’t want another two decades of reasons to be self-conscious about my fandom, I just wanna enjoy sports like a normal ****ing fan. Don’t want to talk or think about the owner AT ALL besides the necessary stuff. That’s impossible with Bezos, he is himself a national story every day. Give me Harris as the majority owner in an ownership group and I’ll be thrilled. With Schefter reporting this, I’m starting to feel good about it Yeah I leaned Harris too but him doing this but with another wealthy bidder its the kicker to me. Their combined weatlh puts them at the top or close enough of the NFL owenr echelon. For Bezos it was totally about the stadium for me. Otherwise he brings some baggage and has some wildcard to him. But if you put two locals with their money and likely political connections I bet they will do OK on the stadium. What's unique about Dan is because the dude was such a recluse, lacks social skills and is a total douche he had almost no political connections which you typically need to maneuver a stadium. Millonaires are typically really wired politically from my experience -- billionaires are in a totally different orbit on that front, they are generally very wired in. Dan unusually is not. I am in the political business, I even worked in a minor way (organized some phone banking) for someone who was pushing a stadium eons ago. I am not an expert on stadiums by a long shot but i know a little about it more than a layperson. Worked for a legislator who was lobbyied on the issue and then years later helped a friend who pushed an initiative. In short, billionaries typically have a vast network of relationships that they can build on in a situation like that. If you combine two local mega billionaires network, I like the odds for a stadium, too. 9 3 Link to comment Share on other sites More sharing options...
mhd24 Posted March 9, 2023 Share Posted March 9, 2023 I remember reading an article about Rales from the Post years ago. I think he's a "recluse" in the sense that he doesn't comment to the media from what I remember. Article was about his art collection. Link to comment Share on other sites More sharing options...
JamesMadisonSkins Posted March 9, 2023 Share Posted March 9, 2023 Josh Harris net worth = $5.8 billion Mitchell Rales net worth = $6.4 billion Between those two, not sure how the ownership breakdown would go, but that's a decent chunk of dough to go after an NFL team. I would think they could easily get to $6 billion with $2 billion cash down. Not sure either would have the $$ to bankroll a stadium with cash like Bezos, but they don't necessarily need to be able to do that. There's plenty of financing options to get that done. I would think if Mitchell Rales grew up in Maryland, he'd have an affinity for the team being in RFK, so I don't necessarily think that means they'd be all-in on Maryland per se. 1 Link to comment Share on other sites More sharing options...
NoVaSkins21 Posted March 9, 2023 Share Posted March 9, 2023 This thing needs to get on the fast track. Harris and Rales please pony up the dough to Snyder and get it done and over with 2 Link to comment Share on other sites More sharing options...
spjunkies Posted March 9, 2023 Share Posted March 9, 2023 These dudes don't have enough $ to get the team plus new stadium. No local jurisdiction will spend tax dollars for a new crib. Is their plan to move the team to Mexico? 1 1 1 Link to comment Share on other sites More sharing options...
JamesMadisonSkins Posted March 9, 2023 Share Posted March 9, 2023 4 minutes ago, spjunkies said: These dudes don't have enough $ to get the team plus new stadium. No local jurisdiction will spend tax dollars for a new crib. Is their plan to move the team to Mexico? My guess is financing. Some sort of 20 year bond. Plus NFL backed financing. They'll work with the localities on financing bonds most likely. In theory the stadium pays for itself. You finance it at lower interest rates and make annual payments. Not to mention the sale of the Ashburn land and the FedEx land could contribute to the cash for the stadium initial phases. Link to comment Share on other sites More sharing options...
rockluc Posted March 9, 2023 Share Posted March 9, 2023 5 minutes ago, spjunkies said: These dudes don't have enough $ to get the team plus new stadium. No local jurisdiction will spend tax dollars for a new crib. Is their plan to move the team to Mexico? You might be surprised how many jurisdictions are willing to play ball with the team once it’s under new ownership. 5 1 Link to comment Share on other sites More sharing options...
Riggo#44 Posted March 9, 2023 Share Posted March 9, 2023 6 minutes ago, JamesMadisonSkins said: Josh Harris net worth = $5.8 billion Mitchell Rales net worth = $6.4 billion Between those two, not sure how the ownership breakdown would go, but that's a decent chunk of dough to go after an NFL team. I would think they could easily get to $6 billion with $2 billion cash down. Harris and Bezos have been 1a and 1b. Harris has the direct experience, Bezos has the "**** Yo Momma" money. After the last 23 years--I prefer the proven, known entity. This organization cannot withstand another rich asshole perpetuating a toxic work environment. HArris has the demonstrable history of building good teams, good organizations, and good facilities. As for a time table? I hope... 1 minute ago, rockluc said: You might be surprised how many jurisdictions are willing to play ball with the team once it’s under new ownership. DC, MD, and VA when Snyder is gone 2 Link to comment Share on other sites More sharing options...
bearrock Posted March 9, 2023 Share Posted March 9, 2023 Just now, spjunkies said: These dudes don't have enough $ to get the team plus new stadium. No local jurisdiction will spend tax dollars for a new crib. Is their plan to move the team to Mexico? Stadium can be financed with private loans. But I bet public financing or significant bond/tax break will be way more likely once Snyder is out of the picture. Not all public stadium project is a government handout. AT&T is an example of a public stadium done right: anchor of a significant entertainment complex redevelopment. Heart of DC may have less to benefit from a project like that (though look at what Nats and Wiz did for their respective parts of town and consider the total blight that is RFK right now), but MD and VA would have plenty of interest in luring an NFL stadium centered entertainment complex to their jurisdiction. I really think this was the deal breaker for the other owners. You sit at the heart of the Capital and two states with some of the richest counties in the country and you can't get a single bite at significant public financing for a new stadium? Really???? 4 Link to comment Share on other sites More sharing options...
Spearfeather Posted March 9, 2023 Share Posted March 9, 2023 The financing ? It's damn good. 4 Link to comment Share on other sites More sharing options...
spjunkies Posted March 9, 2023 Share Posted March 9, 2023 1 minute ago, rockluc said: You might be surprised how many jurisdictions are willing to play ball with the team once it’s under new ownership. They might be successful in getting the land, but the additional $2-4 billion to build a new place is going to be tough to get. I guess they could throw up another budget friendly dump like fedex. Link to comment Share on other sites More sharing options...
JamesMadisonSkins Posted March 9, 2023 Share Posted March 9, 2023 Not sure why, but I do think the addition of a quiet, local billionaire (Rales) to the Harris (experience) bid gets me pretty excited. Bezos is and will be my #1 seed for obvious reasons. The excitement of one of the richest men owning our team with lots of cash to do fun things as his pet project. But the second best option is two multi-billionaires joining, one with experience and one with local ties. 3 Link to comment Share on other sites More sharing options...
Skinsinparadise Posted March 9, 2023 Share Posted March 9, 2023 (edited) 15 minutes ago, spjunkies said: These dudes don't have enough $ to get the team plus new stadium. No local jurisdiction will spend tax dollars for a new crib. Is their plan to move the team to Mexico? they wouldn't pay 100% down for the team or 100% down for the stadium. Not even close. They should have plenty of money for both. The challenge with the stadium is obviously playing the politics of the juristictions -- especially DC where Congress has to give the land to DC. Bezos would be in theory the best on this front. But their combined net worth puts them in the top 10 as far as wealthy owners, #7, just a hair behind Kroencke and Jerry Jones. And that's assuming just one of the Danaher brothers not both of them are involved in this. https://www.profootballnetwork.com/nfl-richest-owners-net-worth-ranked/ Edited March 9, 2023 by Skinsinparadise 3 1 1 Link to comment Share on other sites More sharing options...
bearrock Posted March 9, 2023 Share Posted March 9, 2023 With another significant financial backer, I'm leaning towards Harris as my #1. He is such a high floor owner. A proven track record of ideal sports franchise ownership. In a parity driven league like the NFL, it's almost just a matter of time before he turns this team into a legitimate contender. Don't get me wrong, I would love Bezos as well, just for the sheer enticing possibilities of what ×10-20 other owner's wealth can do. But Harris seems like a guaranteed road to stable, respectable, well run franchise. 3 Link to comment Share on other sites More sharing options...
Skinsinparadise Posted March 9, 2023 Share Posted March 9, 2023 (edited) He's not cheap with his own I presume nonprofit, that's a good sign, juxtapose with Dan bouncing small checks from his Charity Foundation Edited March 9, 2023 by Skinsinparadise 1 Link to comment Share on other sites More sharing options...
Riggo#44 Posted March 9, 2023 Share Posted March 9, 2023 8 4 4 Link to comment Share on other sites More sharing options...
bearrock Posted March 9, 2023 Share Posted March 9, 2023 Just now, Skinsinparadise said: He's not cheap with his own I presume nonprofit, that's a good sign Tbf, that's almost certainly an estate tax saving vehicle. But it does indicate the sheer size of his net worth. 2 Link to comment Share on other sites More sharing options...
Skinsinparadise Posted March 9, 2023 Share Posted March 9, 2023 4 Link to comment Share on other sites More sharing options...
Est.1974 Posted March 9, 2023 Share Posted March 9, 2023 Wealthy, respected, strong business background, known for operational excellence. Yes please. 10 Link to comment Share on other sites More sharing options...
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