How Stan Kroenke’s agreement to buy the Los Angeles Angels made him MLB’s richest owner with his $24.3 billion fortune surpassing New York Mets owner Steve Cohen’s $23 billion

Stan Kroenke is set to add the Los Angeles Angels to his already massive sports empire, and the move has also changed MLB’s billionaire ownership picture. Kroenke’s estimated $24.3 billion fortune puts him ahead of New York Mets owner Steve Cohen, whose wealth is estimated at $23 billion. While the Angels sale still requires MLB approval and is expected to close in early 2027, Kroenke is preparing to bring one of baseball’s struggling franchises into an ownership group filled with championship teams.Stan Kroenke’s $24.3 billion fortune puts him ahead of Steve Cohen as he enters MLBKroenke Sports & Entertainment has reached an agreement to acquire controlling ownership of the Angels from Arte Moreno.The reported $4 billion valuation would make the transaction the most expensive sale of an MLB franchise if completed at that figure.The deal is expected to close in early 2027 and still needs approval from Major League Baseball. Moreno will remain a minority owner after the transaction.For Kroenke, the agreement adds another major American sports franchise to an ownership portfolio that is already difficult to match.His group controls the Los Angeles Rams, Denver Nuggets, Colorado Avalanche and Colorado Rapids. Across the Atlantic, Kroenke also owns Arsenal, one of the biggest clubs in English soccer.The portfolio has produced plenty of success.The Rams won the Super Bowl in 2022. The Avalanche captured the Stanley Cup in 2022, while the Nuggets won their first NBA championship in 2023. Arsenal has also remained a major force in English soccer.That recent record gives the Angels a reason for optimism after years of frustration.Kroenke’s estimated $24.3 billion fortune also moves him above Cohen, whose estimated wealth stands at $23 billion. Cohen had been one of the most financially powerful owners in MLB since buying a controlling stake in the Mets.The difference between the two fortunes is relatively small compared with the size of their wealth, but it changes the top of MLB’s ownership rankings. Stan Kroenke’s wealth comes from sports real estate and about 2.7 million acres of landKroenke’s fortune did not come from sports alone.Real estate was an important part of his business career. He built shopping centers, often with Walmart stores as major tenants, and gradually expanded into other property investments.His connection to Walmart also runs through his family. Kroenke has been married to Ann Walton Kroenke since 1974. She is an heir to the Walmart fortune.Over time, Kroenke developed interests that reached well beyond shopping centers and professional sports.His land holdings are perhaps the most surprising part of his business empire. According to the 2025 Land Report, Kroenke became the largest private landowner in the United States with roughly 2.7 million acres.A huge part of that increase came from his purchase of about 937,000 acres of ranchland from the Singleton family in December.That deal helped move Kroenke from fourth place to the top of the country’s private landownership ranking.His holdings now put him ahead of other wealthy landowners, including John Malone and Ted Turner.The scale of Kroenke’s land portfolio also adds another dimension to his wealth story. Farmland and ranchland have become popular among wealthy investors because they offer a physical asset that can generate income and potentially hold its value over time.That means the Angels deal is only one part of a much larger business story surrounding Kroenke.He is entering baseball with a fortune built through several industries and an ownership group that already operates across multiple sports.The Angels are joining an empire that has already found a winning formulaThe biggest question surrounding Kroenke’s arrival is what it could mean for the Angels.The franchise has endured a long stretch of losing baseball under Moreno. The team is heading toward another losing season and has not made the postseason since 2014.That run has been especially frustrating because the Angels have employed some of baseball’s biggest stars.Mike Trout has spent his entire 16-year career with the organization and has won three American League MVP awards. Yet he has never won a playoff game with the Angels.The team also had Shohei Ohtani alongside Trout for six seasons, but even that pairing could not produce a deep postseason run. Kroenke now inherits a franchise that needs more than a change in ownership.The Angels need a stronger baseball operation, better long-term planning and a renewed sense of belief around the team.There are already signs of optimism.Trout praised Kroenke’s track record after learning about the deal and said the new ownership could bring a fresh start. He also intends to remain with the Angels and play out the remaining years of his massive contract.That creates an important opportunity for Kroenke.His other teams have shown that his ownership group can build organizations capable of competing for championships. The Angels will now be expected to prove whether that approach can work in baseball too.For now, the sale remains pending. But once the deal receives the required approval and closes, Kroenke will have added MLB to a sports empire that already stretches across football, basketball, hockey and soccer.And with an estimated fortune of $24.3 billion, he will enter baseball as its richest owner, sitting above Mets owner Steve Cohen.The Angels may be the newest addition to Kroenke’s empire, but the bigger story is how far that empire has already grown.Get the latest Sports News and Live updates. Download the TOI app.