Who is Robert Sarver and what is his net worth right now?
Robert Sarver is the owner of both the Phoenix Suns and Phoenix Mercury. He was recently suspended for one year and was fined $10 million for sexual harassment and racism.
JUST IN: The NBA has suspended Phoenix Suns owner Robert Sarver for one year following an investigation into claims of sexual harassment. fox10phoenix.com/news/nba-suspe…
In 2021, ESPN published an article about Sarver's misconduct within the Phoenix Suns. This report convinced the NBA to commence an investigation into its accuracy.
The NBA's investigation found the accusations about Robert Sarver's behavior true. Not only did the Suns' owner harass female employees, but he also used inappropriate racial slurs in front of his players.
Aside from Sarver's unprofessionalism, he is an ill-mannered owner overall. He belittled his female employees and criticized others. Per NBA policy, the suspension seems fitting.
The NBA today issued the following statement: https://t.co/jjlBK771PT
Who is Robert Sarver?
A conversation with University of Arizona basketball coach Lute Olson sparked Sarver's lifetime desire to own an NBA team. Olson recommended Steve Kerr, a former Arizona player, to Sarver.
Kerr's role was to help Sarver purchase an NBA team. Eventually, Steve Kerr's assistance paid off. Sarver purchased the Phoenix Suns in 2004 for $401 million. He also bought WNBA's Phoenix Mercury that same year.
Sarver has supervised significant organizational changes since buying the teams. However, both organizations had to endure Sarver's poor behavior.
It's undeniable that Sarver has helped the organization in many ways. He ensured that his players got optimal training facilities and secured renovations for their arena. The improvements, of course, do not excuse poor conduct.
What is Robert Sarver's net worth?
After everything Robert Sarver has accomplished as an individual, his net worth is $800 million. Sarver didn't achieve this just as a sports team owner but also as a successful entrepreneur. Sarver established the National Bank of Tucson in 1984. He later extended it statewide and renamed the National Bank of Arizona.
Together with Millard Seldin, Sarver founded Southwest Value Partners in 1990. He then sold the National Bank of Arizona to Zions Bancorporation in 1994, the most prominent independent bank in the state.
One of San Diego's biggest community banks, Grossmont Bank, was purchased by Sarver in 1995. In 1997, he eventually sold Grossmont Bank to Zions Bancorporation.
Sarver oversaw the acquisition of the Sumitomo Bank of California by Zions Bancorporation in 1998. Robert Sarver dominated the banking industry in the 90s. He became the chairman of Western Alliance Bancorporation in 2003.