This page contains information about Robert Kraft net worth and biography. Read through this article to know more details about Robert Kraft, his professional career as a businessman, how he made his wealth and fame, and also several other interesting facts about the billionaire business owner that you’re probably unaware of.
Robert Kraft net worth and popularity comes from his numerous businesses. He is an American billionaire busínessman that is known as the chief executive officer (CEO) and chairman of the Kraft Group, a diverse holdíng company with assets in paper and packaging, real estate development, sports and entertainment, and a private equity portfolio. He is the owner of the Major League Soccer’s New England Revolution, the National Football League’s New England Patriots, and Gillette Stadium where the two teams play. He is also the owner of the Boston Uprising, the first e-sports team in New England. These ventures and a minor group of others can easily be cited as the sources of Robert Kraft net worth.
Robert Kraft’s Biography
Robert Kenneth Kraft was born into an Orthodox Jewish family on June 5, 1941, in Brookline, Massachusetts, United States. His father, Harry Kraft, who was a dress manufacturer wanted him to be a rabbi on growing up.
Robert Kraft attended Edward Devotion School for his primary education and moved to Brookline High School where he graduated in 1959. He earned a scholarship to study at Columbia University, where he joined the Zeta Beta Tau Fraternity and even played running back and safety in the school’s freshman and light-weight football teams.
While in high school, Robert was a good student and was made the senior class president. He loved sports but was not able to participate in any as it interfered with his after school Hebrew studies and his observance of the Sabbath.
In the university, he fell in love and got married in June 1963. When he graduated in the same year, he proceeded to pursue an MBA from Harvard Business School, where he earned the degree in 1965.
Professional Life & Business Career
Robert Kraft began his career by working with Rand-Whitney Group. It is a Worcester-based packaging company that was run by his father-in-law. Hard working and intelligent, Robert found success as a professional and soon, he was able to gain control of the company via a leveraged buyout in 1968.
He was also interested in politics and was elected as chairman of the Newton Democratic City Committee. He thought about running against Philip J. Philbin, the 3rd congressional district Representative of Massachusetts in 1970 but later decided not to.
As a dedicated individual, it didn’t take Robert Kraft a long time to kick start his own business called “International Forest Products” in 1972. This company which focused on trading in physical paper commodities was the first main contributor to Robert Kraft net worth. This venture proved to be a great success. By the 1980s he began investing the profits from his businesses in various ventures. He made an investment in New England Television Corp (NETC) which gained control of WNAC-TV, where he later became a board director in 1983. The station was later renamed to WNEV-TV and in 1999, he was named the corporation’s president.
A long time football fan, he diversified his businesses by securing the New England Patriots, a professional American football team, in 1994 for $175 million. At the time he made the purchase, the football team had won only 19 games the previous 5 seasons, and many people, including his wife questioned this decision. In 1998, he founded Kraft Group LLC based in Massachusetts as a holding company to own and run his several business ventures in manufacturing, professional sports, and real estate development industries.
Ever since he took over as the owner of the team, the Patriots began performing well. Under the guidance of Bill Belichick, their current coach who was hired in 2000, they won 3 Super Bowls in 4 years (2001, 2003, and 2004), and ended the 2007 regular season with a perfect 16 – 0 record. In 2015, they defeated the Seattle Seahawks by a score of 28:24 to win Super Bowl XLIX.
Awards & Achievements
Not only did Robert Kraft earn wealth and fame in his career, he is also a multiple award winner and a serial achiever. As the owner of the National Football League team, New England Patriots, his team won 3 Super Bowls in 4 years (2001, 2003, and 2004), and in 2015, they won Super Bowl XLIX.
In 2004 he was awarded the Columbía University Alexander Hamílton Medal, and in 2006, he received the Theodore Roosevelt Award.
In 2011, he was inducted into American Academy of Arts and Sciences. Two years later in 2013, he received the Carnegie Hall Medal of Excellence Award.
Personal Life & Legacy
Mr. Robert Kraft met his former wife Myra Nathalie Hiatt while he was still a college student and fell in love with her immediately. She was the daughter of Jacob Hiatt, a businessman and philanthropist. The couple tied the knot in June 1963. Their marriage was a happy one which produced four sons. Unfortunately, his wife Myra died of cancer in 2011 leaving him devastated.
Robert Kraft Net Worth 2020
Robert Kraft net worth has come from his numerous businesses. He is an American billionaire businessman that is known as the chief executive officer (CEO) and chairman of the Kraft Group, a diverse holding company with assets in paper and packaging, real estate development, sports and entertainment, and a private equity portfolio. He has an estimated net worth of $6.9 billion. He is widely known as the owner of the Gillette Stadium, home to the Major League Soccer’s New England Revolution, and the National Football League’s New England Patriots.