Robert Kraft Net Worth: Deatils Will Make Your Jaw Drop!

Robert Kraft Net Worth: Robert Kraft is a famous American business tycoon. He amassed his fortune while serving as CEO of The Kraft Group, a diversified conglomerate with interests in everything from paper to real estate. The New England Patriots, the New England Revolution, and Gillette Stadium are all under his direct ownership, which is how he became so well-known.

Some people believe that Robert Kraft got rich through his ownership of the Kraft Foods manufacturing firm. That is not the case at all. Robert Kraft has no affiliation with Kraft Foods, the maker of household names including Grey Poupon, A1, Gevalia, Planters, Jell-O, Kraft Singles, Velveeta, Kool-Aid, Oscar Mayer, and Maxwell House.

People are curious to know about Robert Kraft Net Worth, early life, career, and personal life. If you are interested to know, stay with us until the end of the article.

Robert Kraft Net Worth

Robert Kraft net worth is around $7 billion. He made wealth as a sucessful businessman and as a football team owner. So, Robert Craft net worth is growing fast as compare to the newΒ  enterpreneaure and celebrity.

Robert Kraft Early Life

On June 5, 1941, Robert K. Kraft was born to Sarah and Harry Kraft in Brookline, Massachusetts. He was raised in a middle-class household of Modern Orthodox Jews. The senior class president of Brookline High School, he graduated that year (1959). Kraft continued his presidency at Columbia University.

He participated in both freshman and lightweight football and was a member of the Zeta Beta Tau fraternity. After receiving his bachelor’s degree in 1963 from Columbia University, Kraft went on to earn his master’s in business administration (MBA) from Harvard University.

After graduating from Harvard at age 27, Kraft was quickly chosen as chairman of the Newton Democratic City Committee. Considering the stress it would place on his family and the intrusion it would cause on his privacy, he finally opted against running for Massachusetts’ 3rd congressional district seat in 1970. You can also read DJ Khaled Net Worth.

Robert Kraft Paper Wealth

Kraft got his start in the business world working for his future father-in-law, Jacob Hiatt, at the Rand-Whitney Group, a packaging firm. The firm was taken up by Kraft in a leveraged buyout in 1968. Today, he still serves as chairman of the Rand-Whitney Group.

A paper commodity dealer, International Forest Products was formed by Kraft in 1972. Both of these paper and packaging enterprises are among the largest in the United States that are privately held. His rich background enhance Robert Kraft net worth

When WNAC-TV changed hands .in 1982 to New England Television Corp., Kraft was an investor. He joined the board of directors in 1983. In 1986, he was promoted to president of the company, and the station was rebranded as WNEV-TV. He sold his shares for $25 million after exercising his option in 1991.

A number of Boston radio stations were purchased by Kraft as well. In 1998, he established the Kraft Group, a paper company that now spans 90 countries and generates over $2 billion annually in revenue. You must read Dan Marino Net Worth.

Robert Kraft New England Patriots

Since the Patriots’ AFL days in 1971, Robert Kraft has been a loyal supporter and season ticket holder. He made the 1985 purchase of the plot of property next to the future site of New England Patriots Stadium. This was the first move in what appears to have been Kraft’s big strategy all along to acquire full ownership of the New England Patriots.

Next, in 1988, while the stadium was in bankruptcy court, Kraft outbid other contenders to purchase it for $25 million. Kraft bought the stadium outright, and as part of the deal, he took over the Patriots’ lease on the facility. This is a major consideration, as it is a part of Kraft’s overall strategy to acquire the franchise.

It was widely known at the time that Patriots owner James Orthwein desired to bring the NFL back to St. Louis, thus rumors spread quickly that the team was about to relocate. Since the Cardinals left for Arizona in 1988, St. Louis has been without a National Football League team.

He had even planned out the team’s rebranding, deciding to call them the St. Louis Stallions. The only catch was that the club couldn’t leave Massachusetts unless Robert Kraft agreed to sell them out of the remaining years of their stadium contract.

In 1994, James Orthwein offered Robert Kraft $75 million to buy out the balance of the Patriots’ lease on Foxboro Stadium. The Patriots may have relocated to St. Louis if Kraft had given his OK. Yet Robert Kraft was able to recognize an opening and exploit it. His counteroffer of $175 million (about $300 million in today’s money) for the Patriots was an NFL record. football team earnings also incresing Robert Kraft net worth.

The price was startling given that the squad was one of the league’s least valuable at the time. Orthwein accepted the offer despite the fact that he knew it would be next to impossible to get out of the lease. In 16 years, the New England Patriots have won six Super Bowls out of ten appearances. This has resulted in a $4.1 billion market value for the team.

Kraft established the New England Revolution of Major League Soccer in 1996. You may be interested inΒ  Kirstie Alley Net Worth.

Robert Kraft Personal Life

He first laid eyes on Myra Hiatt at a Boston deli back in February of 1962. In June of 1963, they tied the knot. Four boys were born to the couple: Jonathan, Daniel, Joshua, and David. The Krafts attended Temple Emanual, a Jewish congregation in Newton, Massachusetts. Sadly, on July 20, 2011, Myra Kraft lost her battle with ovarian cancer. In human years, she had already reached the ripe old age of 68.

Robert Kraft Personal Life
Robert Kraft Personal LifeRobert Kraft Personal Life

Kraft began dating the actress Ricki Noel Lander in June 2012, despite her being 39 years younger than him. Lander had a baby in the fall of 2017. When the birth was revealed in May 2018, there were rumors that Kraft was the father, but he refuted the rumors. It ended in 2018 for Kraft and Lander.

Robert Kraft Controversies

The chief of police in Jupiter, Florida, issued misdemeanor charges against Kraft on February 22, 2019, for “soliciting someone to engage in prostitution.” Human trafficking charges were brought after an investigation into the Orchids of Asia Day Spa. Agents looked into the spa because they believed the owners were involved in sex trafficking and were forcing women to have sexual encounters with paying customers.

At the Orchids of Asia Day Spa, Kraft was reportedly caught on tape engaging in sexual behavior. The plea agreement that was presented to Kraft on March 19, 2019, was rejected by him since it would have required him to confess guilt. On March 26, Kraft had his lawyers file paperwork in which he pled not guilty to all counts and asked for a jury trial.

A Florida judge found in August 2020 that Kraft’s constitutional rights had been violated when police seized the purported sex videos. The prosecution’s attempts to use the videos in court were halted. Lacking sufficient evidence, the charges against Kraft were dismissed on September 24, 2020. You can also read about Jacob Rothschild Net Worth.

Robert Kraft Real Estate

With a price tag of $3.8 million, Kraft and his wife Myra parted ways with their 7,500-square-foot Cape Cod mansion to their son Jonathan in 2010. The home was constructed in 2006 and includes seven bedrooms and six bathrooms.

Conclusion

Robert Kraft net worth is a result of her hard work and patience. No doubt your dedication and consistency will definitely reward you one day. Dear readers, we hope you have enjoyed our article. We are continuously collecting information and news for our readers. You can visit focushillsboro.com for the latest information and news. If you have any queries or suggestions can put them in our comment section.

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