What is John Angelos' net worth? Career earnings of outgoing Orioles owner explored
John Angelos has reportedly agreed to sell the Baltimore Orioles to a group led by David Rubenstein, a private equity billionaire, for $1.725 billion. However, the deal is yet to be finalized, as it will require approval from the other 29 MLB club owners to approve the purchase.
According to SCP Magazine, John Angelos has an estimated net worth of $2 billion. Born on Oct. 21, 1969, in Baltimore, Maryland, he was inclined to business opportunities from a very early age. His father founded the Angelos Law Firm, and to follow in his footsteps, John embarked on a journey to pursue law.
He received a Juris Doctorate from the University of Baltimore School of Law and began practicing in the 1990s. However, since his father bought the Orioles in the early 1990s, he has taken an active interest in managing the club, taking on various roles in the organization. Before taking the reins, he served as the COO of the Orioles since 1999.
For the last 15 years, Angelos has been leading the Orioles from the front and has managed day-to-day business operations. They include marketing and advertising, branding and promotion, major corporate sponsorship sales and ticket sales, governmental and public affairs, media and public relations, ballpark facility design and management.
Moreover, John Angelos also serves as the president and chief operating officer of the Mid-Atlantic Sports Network and oversees the network's business operations.
Although the Orioles haven't tasted success under the Angelos family, the outgoing owners are leaving the team on a high, winning 101 games last season.
More about John Angelos transaction with David Rubenstein for the Orioles
The Orioles transaction has grabbed headlines for the Angelos family, who have been at the helm of the club since 1993.
John's father, Peter Angelos, 94, bought the franchise in the auction for $173 million and handed the reins to his son in 2020. Following the death of his wife, Georgia, in 2022, Peter wished for the team to be sold so that they “could enjoy the great wealth they had amassed together.”
David Rubenstein, a 74-year-old philanthropist and founder of Carlyle Group, has an estimated net worth of $4.6 billion. According to Yahoo Finance, Rubenstein will initially acquire a 40% stake in the Orioles and will take the remaining equity after the death of Peter Angelos.
The Angelos family will be subject to significant capital gains tax if they complete the transaction before Peter's death.