Cavs Owner Dan Gilbert Ranked Among 400 Richest Americans

by September 22, 2011

Despite having absolutely lost his mind when LeBron James left Cleveland, Cavs owner Dan Gilbert appears to have done OK for himself ever since. From the News Herald and ESPN: “Dan Gilbert can’t be mentioned in the same financial breath with moguls Bill Gates or Warren Buffett, but the Cavaliers majority owner is still one of the richest men in Michigan with an estimated net worth of $1.5 billion. The 49-year-old was ranked 293rd in Forbes 400’s richest Americans on Wednesday.”

“Losing LeBron didn’t seem to affect Cavs owner Dan Gilbert’s bottom line. He’s back on Forbes 400 for 1st time since ’07 at $1.5 bn. Appears Forbes has added around 50% to Gilbert’s net worth in last year no less. Lost LeBron but meanwhile he now owns 2 casinos in Ohio. Regardless of what Cavs franchise value is now, he used team popularity to get voters to give him sweetheart casino deal.Can’t be dismissed.”