American businessman Robert Sarver has a net worth of estimate of $800 million. He owns the American sports teams Phoenix Mercury and RCD Mallorca. After being accused of sexual harassment and racism, he was recently suspended for a year and hit with a $10 million punishment.
Robert Sarver Net Worth, Age, Bio, Career, Sources Of Income!
As the proprietor of the prominent real estate development firm Southwest Value Partners, he has gained fame. Because of his professional achievements, Robert Sarver is well-liked by his peers. Robert Sarver is a well-known figure today because of his research with phoenix suns.
Penny Sanders is Robert Sarver’s spouse. Back in 1996, he tied the knot with Penny. In 1991, the two individuals who eventually became into a relationship crossed paths for the first time. Maax, Zachary, and Jacob are their three children. Rob and Penny do a lot of good in the world. Giving to the Heart Center’s cause began in 1998.
As of late, Robert has been in the news because of allegations that he fostered a hostile and toxic work atmosphere inside his staff for 17 years. He has been charged with sexism and racism for allegedly discouraging women from trying out for the WNBA’s Mercury squad.
Robert is also accused of meddling with his coaches, a claim he strongly refuted in a statement he sent nearly two weeks ago. The NBA is investigating him and the Phoenix Suns for allegedly having a hostile work environment for women.
Robert has not yet won any prizes, but he has won many things, including several successes and many financial rewards. His fame has allowed him to appear in commercials for several different companies.
Robert Sarver Profession & Career
Robert began his career in 1984 when he founded the National Bank of Tucson, later renamed The National Bank of Arizona in the United States of America; he sold the bank to Bank Zions Bancorporation in 1994 and, in 1977, founded the Grossmont Bank in San Diego, one of the largest community banks in the area; he sold the bank in 2003.
In addition to funding the development of Verizon 5G and the Phoenix Mercury of the National Women’s Basketball Association, he contributed $230 million to the expansion of the Footprint center in 2004 and, in 2021, the Phoenix Suns of the National Basketball Association, who are the reigning champions. Through his involvement with the Phoenix Suns, he gained widespread Internet fame.
|Full Name||Robert Sarver|
|Source Of Income||Acquired Grossmont Bank|
|Biggest Assets||Phoenix Suns, $14 million mansion|
|Residence||Phoenix area, Tucson, Arizona|
|Date Of Birth||31 October 1961|
|Education||The University of Arizona, Sabino High School, UA – Eller College of Management|
|Children||Jake Sarver, Zach Sarver, Max Sarver|
|Spouse Name||Penny Sarver|
Key Facts About Robert Sarver
- State/City of Birth: Illinois, Chicago, USA
- Ethnicity/Nationality: American
- Height: 1.76 meters
- Weight: 75kg
- Marital Status: Married
- Wife/Spouse (Name): Penny Sarver
- Profession: Businessman
Robert Sarver Sources Of Income
The National Bank of Arizona, the largest independent bank in the state at the time, was sold to Zions Bancorporation in 1994 after he was appointed as chairman.
In 1995, he acquired Grossmont Bank, a significant community financial institution in San Diego.
In 1997, Zions Bancorporation also acquired Grossmont. Sarver oversaw the takeover of the Sumitomo Bank of California by Zions Bancorporation in 1998.
He took over as head of Western Alliance Bancorporation in 2003.
With Millard Seldin, Sarwar established Southwest Value Partners in the property business in 1990. Southwest Value Partners purchased Emerald Plaza in San Diego in 1995. For $274.5 million in 2004, their joint venture, Southwest Value Partners, sold Emerald Plaza and two additional San Diego office buildings to Triple Net Properties, a real estate corporation based in Santa Ana.
Sarver, a sports lover for life, first started thinking about buying an NBA club when he had a conversation with Lute Olson, a basketball coach at the University of Arizona. To help Sarver purchase an NBA team, Olson connected him with Steve Kerr, a 15-year NBA veteran, and former Arizona Wildcats player. He paid a then-record $401 million to acquire the Suns in 2004.
Under Sarver’s direction, the Suns spent $230 million expanding and renovating the Footprint Center in 2021. The upgrades feature state-of-the-art conveniences like premium seating areas, themed bars, brand-new suites, and extended communal areas.
In addition to the arena’s structural upgrades, the game presentation has undergone significant revisions, with new and improved audio, video, and lighting. Considerable infrastructure upgrades were also made throughout the renovation, making the arena one of the greenest in all American sports.
Robert Sarver Net Worth
Businessman Jack Sarver, Robert’s dad, built landmarks, including the Aztec Inn and the Plaza International Hotel (now Aloft Hotel). Robert started working for his father’s firm, American Savings, and Loan when he was 16 years old.
He graduated from Sabino High School in 1979, continued his education at the University of Arizona, and earned a business administration degree in 1982. In the year that Robert graduated from high school, his father passed away from a heart attack.
Robert started what was then called the National Bank of Tucson in 1984. After working in the industry for a while, he decided to start his firm, Southwest Value Partners, in 2002. As well, after selling the National Bank of Arizona to Zions Bancorporation in 1994, he invested in the San Diego real estate market the following year, purchasing the Emerald Plaza.
He bought Grossmont Bank in 1995, then two years later, he sold it to Zions Bancorporation. In 2004, Robert’s next big venture would be the $274.5 million sale of the Emerald Plaza and adjacent office buildings to Triple Net Properties. Also, he led Western Alliance Bancorporation as CEO and was instrumental in Zions’ purchase of the Sumitomo Bank of California.
Following the success of his many financial ventures, Robert turned his attention to his other great love: sports. He set out on a mission to buy the Phoenix Suns. With the help of Lute Olson, the University of Arizona basketball coach, he met Steve Kerr, and by 2004 he had acquired the franchise for $401 million.
In 2015, he made an unsuccessful bid to purchase the Scottish football team Rangers. The following year he spent a lot of money buying RCD Mallorca, and the two of these endeavors together have been reliable sources of income for him ever since.
Robert married Penny Sanders in 1996, and the couple has since welcomed three kids; they currently make their home in Paradise Valley, Arizona.
Robert serves on the Board of Trustees at the University of Arizona’s heart research center, which was renamed the Sarver Heart Center in honor of his father after he passed away.
More than 40 cardiologists and researchers call the institution home in their quest to eradicate heart disease. Robert also enjoys playing volleyball, tennis, and golf, among other sports.
Robert Sarver Houses
Robert and his family live in a brand-new mansion that cost him and his business partners $14 million.
Including a 12-car garage and 12 courtyards, this property has nearly all the amenities one wishes. The basketball court in the backyard is the most excellent feature of the property since it features a colossal painting of the Phoenix Suns emblem in blue, gold, and orange.
Most Significant Milestones In Robert Sarver’s Net Worth
Robert Sarver possesses nearly $800,000,000 net worth as of 2022.
Moreover, as per updates, he had a net worth of approx. $760 million in 2021. He made $700 million in 2020 and around $660 million in 2019.