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What Is Robert Kraft Net Worth in 2022.

Robert Kraft made his fortune as Chairman and CEO of Kraft Group, which owns everything from paper to real estate. He is best known as the principal owner of the New England Patriots, New England Revolution, and Gillette Stadium.

Patriots owner Robert Kraft is 17th on Forbes's list of richest  professional sports owners - The Boston Globe

What is Robert Kraft’s net worth?

Robert Kraft is a Massachusetts-born businessman who has a net worth of $7 billion.  There is a common misconception that Robert Kraft made his fortune from the food company Kraft Foods. Robert Kraft is in no way affiliated with Kraft Foods, known for products such as Gray Poupon, A1, Gevalia, Planters, Jell-O, Kraft Singles, Velveeta, Kool-Aid, Cadburys, Oscar Mayer, Maxwell House.

Early Life

Robert K. Kraft was born on June 5, 1941, in Brookline, Massachusetts, to Sarah and Harry Kraft. He grew up in a modern working-class Orthodox Jewish household. In 1959 he graduated from Brookline High School and served as senior class president. Kraft attended Columbia University, where he again served as class president.

Patriots Owner Robert Kraft Flew on Air Force One With Donald Trump –  Footwear News

He was also a member of the Zeta Beta Tau Fraternity and played on the school’s freshman and lightweight soccer teams.

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Craft graduated from Columbia University in 1963, attended Harvard University, and earned an MBA in 1965. When Kraft had just graduated from Harvard at the age of 27, he was elected chairman of the Newton Democratic City Commission. He briefly considered running for a seat in Massachusetts’ third congressional district in 1970, but ultimately decided against it, concerned about the strain on his family and lack of privacy.

Paper Wealth

Kraft’s first work experience was at the Rand Whitney Group, a packaging company run by his father-in-law Jacob Hyatt. In 1968, Kraft directed his buyout leverage to take control of the company.
He remains Chairman of the Rand Whitney Group. In 1972 Kraft founded International Forest Products, a distributor of physical paper furnishings. The two paper and packaging companies are the largest privately held companies in this industry in the United States. Kraft was also an investor in New England Television Corporation, where he controlled WNAC-TV in 1982.

 

The broadcaster he became WNEV-TV and in 1986 he was appointed president of the company. In 1991, he exercised an option to sell his shares for his $25 million.
Kraft also acquired several Boston radio stations. Finally, he founded the paper company Kraft Group in 1998. Kraft Group has operations in 90 countries, with sales exceeding $2 billion.

New England Patriots

Robert Kraft has been a Patriots fan since the American Football League and a season ticket holder since 1971. In 1985, he purchased land next to New England Patriots Stadium. It was the first in a series of moves in what appears to be Kraft’s master plan to own the New England Patriots.

Step 2 was his 1988 start, with Kraft outperforming many of its competitors at the stadium. and filed in bankruptcy court for $25 million. As a condition of the purchase, Kraft leased the stadium to the Patriots.

This point is very important as it is an integral part of Kraft’s master plan to eventually acquire the team. At the time, rumors were swirling around Boston that the Patriots were relocating to St. Louis, and I knew that then-owner James Orthwain wanted the NFL to return to his hometown.

St. Louis has not had an NFL franchise since 1988 when the Cardinals moved to Arizona. He chose a new name for the team, St. Louis His Stallions. There was only one problem. To leave Massachusetts, Robert His Kraft had to agree for the team to buy out the remainder of the stadium’s lease term.

The Wealth, Career, and Life of Billionaire Patriots Owner Bob Kraft

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Interesting Facts

  • Robert Kraft bought the New England Patriots for $172 million in 1994; the team is now worth about $6 billion and has won six Super Bowl rings.
  • Kraft, who sold newspapers outside the old Braves Stadium in Boston as a kid, made an early fortune in paper and packaging.
  • Today his sports portfolio also includes the New England Revolution MLS club.
  • He started a professional video gaming team in Boston, part of the Overwatch esports league, in 2017.
  • His first wife, Myra Hiatt Kraft, died of ovarian cancer in 2011. He married Dana Blumberg, an ophthalmologist, in October 2022 at a lavish wedding where Elton John performed.