With New Ownership in Phoenix, Is the Suns’ Billionaire Richer Than Warriors’ Owner?

Published 10/22/2023, 11:35 AM EDT

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Mat Ishbia has brought a whirlwind of change since he assumed office as the owner of the Phoenix Suns last December. The Phoenix Suns have undergone a complete roster overhaul this offseason. After signing a new head coach with championship experience, Frank Vogel, the team made some major trade moves to beef up the roster. In one such move, Ishbia traded veteran point guard Chris Paul to acquire Bradley Beal. The new-looking Suns look poised to make a deep run to the playoffs this season. However, another Western Conference team might pose a threat to their pursuit of the championship.

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The Golden State Warriors have also made significant adjustments to add more star power to their backcourt. Ever since Joe Lacob bought the majority stake in the GSW, the team has seen unprecedented success. But which team’s owner has a higher net worth? Is the new Phoenix Suns owner richer than the Warriors owner?

Joe Lacob vs. Mat Ishbia: Who is richer?

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Joe Lacob is one of the most successful owners in the NBA industry. After buying the Warriors for $450 million in 2010, Lacob has overseen the team’s rise to become one of the premier franchises in the NBA. The franchise won three titles during the decade, including their iconic 2015-16 season with 73 wins.

The Warriors’ valuation has grown tenfold since, and his 25% stake is now more than $1.4 billion, net of debt. Despite such groundbreaking success, Joe Lacob is still $4.7 billion behind the Phoenix Suns’ new owner, Mat Ishbia.

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According to Forbes, Joe Lacob’s net worth stands at $1.8 billion, whereas Mat Ishbia’s is $6.5 billion. The United Wholesale Mortgage CEO paid $4 billion along with his brother to buy a majority stake in the Suns. Ever since he took over as the new owner, he has left no stone unturned in his pursuit of taking the team to greatness. Apart from shelling out the cash to form a talented superteam of Kevin Durant, Devin Booker, and Bradley Beal, he also fulfilled his promise to make watching games easier for Valley fans. The team is planning to give away free indoor antennas for fans who do not have a paid TV subscription.

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The Warriors will lock horns with the Suns in their season-opener

The Warriors and the Suns will meet for the second game of the doubleheader on October 24th at 10 p.m. ET. The start of the regular season is expected to be entertaining following a thrilling preseason that resulted in a 4-1 record for both teams. After a disappointing exit for both teams in the second round of the playoffs last season, they will be looking to kick-start the season with a win.

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The game will see Kevin Durant go head-to-head against Stephen Curry and Co. after winning back-to-back championships together. Chris Paul will also be looking for revenge against his former team after being unexpectedly traded. Which team are you supporting this season? Let us know in the comments!

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Written by:

Darshita Daga

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Darshita Daga is an NBA Writer at EssentiallySports. Currently pursuing Bachelor’s in English, she’s a fervent sports enthusiast with a keen interest in sports journalism, specifically covering the NBA. She feels that words have the potential to capture the spirit of a game, evaluate moves, and portray the emotions that occur both on and off the court.
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Edited by:

Saumya Khanduja

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