Arte Moreno, the owner of Los Angeles Angels, is again the talk of the town. Well, five months ago, the owner decided to sell his Angels, which left fans wondering whether or not Arte Moreno was facing financial issues. Angels rep finally opened up about this selling process and announced pleasant news that will leave fans in awe. Further, Arte Moreno net worth isn’t facing any highs and lows. In fact, his net worth will leave you surprised. Are you eager to know how? Then, keep reading.
Who Is Arte Moreno?
Born in Tucson, Arizona, on August 14, 1946, Arte Moreno was the oldest of eleven children of Arturo and Maria Moreno. After graduation in 1966, Arte joined the United States Army and was in the battle against the Vietnam War. After the end of the war, he attended the University of Arizona with a degree in marketing. Do you know after graduating from his school Arte also worked at Eller Outdoor, an advertising company? Later in 1984, he joined the billboard company Outdoor Systems. He along with his friend Wally Kelly tried to buy the firm, but his attempt was unsuccessful. However, he became the chief executive officer and president of the firm. So how much is Arte Moreno Net Worth?
Arte Moreno Love For Baseball
His love for baseball led him to purchase the Salt Lake Trappers minor league team. But he wasn’t the only investor. Later the venture proved a financial success, leading to a rise in Arte Moreno’s net worth. By 2001, Arte wished to own an MLB team, but he didn’t receive any deal with his home state’s Arizona Diamondbacks. After an unsuccessful attempt, he eyed 2002 World Series champion Anaheim Angles. Fortunately, his dream came true, and became the owner of the Angels. Surprisingly, Diamondbacks’ owner Jerry Colangelo was the first one to congratulate Arte. Do you know Arte purchased the team for $180 million?
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Soon after becoming the Angels owner, Arte spends money to sign premium players like Vladimir Guerrero. While Arte was loved by the team’s fans, he received backlash when he decided to change the name of the team. But this step led to an increase in revenue and growth in Arte Moreno’s net worth. He later signed a lucrative contract with Fox Sports Net for Angels’ regular season games broadcasting rights. While his years with Los Angeles Angels appeared lucrative, he decided to sell the team in 2022. Is he still the owner of Angels?
Arte Moreno Made An Announcement
Five months after declaring that he was willing to sell Los Angeles Angels, the team’s official Twitter account revealed that Arte will continue to be the owner of Los Angeles Angels throughout the 2023 season and beyond. Well, the selling decision came after the Angels struggled to enter the World Series. Since 2015 the team hasn’t made any winning record. The struggle coincided with perennial All-Star Mike Trout’s tenure. Despite everything, Arte continued to remain the owner of Angels. But has his decision to sell the team something to do with Arte Moreno’s net worth? It doesn’t look like though. Let’s see why.
Arte Moreno Net Worth
As per Forbes, Arte Moreno has a net worth of around $4.1 billion. Well, Arte Moreno bought the Los Angeles Angels baseball team for $184 million, now worth around $2 billion. His initial fortune came from selling billboard advertising company Outdoor Systems at $8.7 billion to Infinity Broadcasting. Not only this, but Arte also holds stakes in commercial real estate as well as other billboard advertising companies.
This is all for now. What do you think has Arte Moreno make the right decision to continue with the ownership of Los Angeles Angels? Comment down your thought below. Stay tuned. TechRadar247 will keep you updated.